Job Title: Consultant | Functional (Credit Risk Management) | Mumbai - I-Think | Oracle
Techno Functional Analyst (IFRS-17)
Job Title: Techno Functional Analyst (IFRS-17)
Location: Mumbai
Experience: 3-5 years
Job Type: Full-Time
Job Summary:
We are looking for a highly motivated Techno-Functional Consultant with 3-5 years of experience in IFRS-17 and a solid understanding of Oracle Financial Services Analytical Applications (OFSAA). The ideal candidate will play a crucial role in supporting, maintaining, and optimizing our OFSAA implementation, ensuring data integrity, and collaborating with cross-functional teams for system enhancements and troubleshooting.
Key Responsibilities:
a. Ability to analyze the financial statements and suggested treatment for assets/liabilities under different accounting standards mainly under IFRS 17 and IFRS 9.
b. Assist in determining the accounting treatment for different Insurance and financial products as per the local regulatory requirements and accounting standards such as IFRS 17, IFRS 9,etc.
c. Understanding of Indian Generally Accepted Accounting Principles (IGAAP) and IRDAI accounting
guidelines for Insurance companies
d. Assist in the build and development of IFRS 17 to current GAAP reconciliation process and templates.
e. Developing the chart of accounts, mapping, ledger postings, and drafting reporting formats
under IFRS 17.
f. Assist in the development of Business Requirement Documents (BRD) for IFRS 17 reporting requirements.
g. Reviewing and testing the data and reporting from source systems (actuarial, policy &administration, expense and finance ledgers) to ensure that the correct data can be sourced to drive the accounting and reporting requirements.
h. Be involved in projects related to operational process improvement and design
i. Modelling business requirements and use cases as a basis for testing the configuration and outputs of the system.
j. Understand the client's business, key strategic essentials of the client, industry and market dynamics, and make/ implement recommendations appropriate for the client's business that needs to drive
continuous improvement and generate value
k. Becoming an SME on the product (GMM, PAA measurement models), including: the underlying transactions and data
requirements, and how they drive the associated accounting rules.
Qualifications & Experience:
a) Experience: 3-5 years of hands-on experience in implementation of IFRS-17, with solid understanding of GMM, PAA and VFA Approach.
OFSAA: Prior experience working with Oracle Financial Services Analytical Applications (OFSAA) is desirable.
b) Analytical Skills: Strong problem-solving skills and attention to detail, especially in data analysis and interpretation.
c) Communication: Excellent verbal and written communication skills for collaborating with technical and non-technical teams.
d) Additional Tools: Experience with Oracle databases, BI tools, and reporting frameworks is a plus.
Preferred Skills:
a) Exposure to financial services domain or risk management solutions.
b) Understanding of regulatory compliance and financial reporting requirements.
Educational Requirements:
a) CA or Engineer with MBA (Finance)
b) Diploma in IFRS by ACCA or similar course is desirable.
Why Join Us?
a) Opportunity to work on configuration of OFSAA application across insurance companies with cross functional teams.
b) Collaborative work environment with career growth and learning opportunities.
c) Competitive compensation and benefits package.
How to Apply:
Interested candidates can send their resume and cover letter to ajbirajdar@deloitte.com with the subject line "Application for Techno Functional Analyst (IFRS-17) .