Corporate Financial Analyst

1. POSITION DESCRIPTION

JOB TITLE

Corporate Financial Analyst

GRADE

SM

DEPARTMENT

Finance and Accounts

LOCATION

HO

SUB-DEPARTMENT

Regulatory and Financial Reporting

TYPE OF POSITION

Full-time

REPORTS TO

Manager – Regulatory and Financial Reporting

REPORTING INTO

NA

1. ROLE PURPOSE & OBJECTIVE

• Responsible for preparing the Quarterly Ind AS financial Statements along with Notes to accounts as per Banking Regulation Act and working with Statutory Auditors for audit Closure with no or minimum audit observations.

• Timely preparation of regulatory returns / Certifications / regulatory filings (related to financial numbers) for onward submission to the RBI. Must have strong understanding of trail balance, accounting entries and conceptual knowledge of financial statements.

• Assistance to Manager- Regulatory reporting/Deputy CFO on various projects involving process streamlining and coordination with various departments.

• Ensuring timely closure of all statutory audit observations, coordination with various intra and inter departments to get response and provide periodical update to the Board/ Top Management.

1. SIZE OF THE ROLE

FINANCIAL SIZE

NON-FINANCIAL SIZE

• NA

• Preparation of regulatory reports- 8 to 10 adhoc and 3 to 5 regular return per quarter

• Assistance in creation of Policies and Process – 5 to 7 per year

1. KEY DUTIES & RESPONSIBILITIES OF THE ROLE

Financials

• Preparation of Ind AS (fit for consolidation) financials along with Notes to accounts as per Banking Regulation Act and getting it reviewed by the Statutory Auditors during Quarterly/yearend. The role involves direct interaction and working with the Auditors.

• Liaisoning with Statutory Auditors and ensuring closure of Long Form Audit Report/ other applicable certifications as per RBI norms on regular basis.

• Performing analytical reviews of month on month and quarter on quarter numbers, variances and present to the CFO/Top Management

• Must have strong knowledge of accounting standards (both IGAAP & Ind-AS), accounting entries concept, Companies Act 2013, taxation laws (both direct and indirect tax) etc.

Regulatory Filings

• Timely preparation of regulatory returns / Certifications (related to financial numbers) – reconciliations. Must have strong understanding of trail balance, accounting entries and conceptual knowledge of financial statements.

• Working with all the relevant departments to get relevant data for the above returns, validating the same and ensuring accuracy of filing to the RBI.

• RBI Inspections – Preparation (wherever required) and co-ordination with all the sub-departments in Finance for collating the data for RBI inspections.

• Ensuring accuracy of returns/regulatory filings related to financial statements, while its preparation. The person would be responsible and accountable for correct preparation of returns and will be the first line of defense for accurate filing to be made to the regulatory authorities. The regulatory reporting to the RBI carries reputational risk for the organization and any mistakes/observations/escalations are viewed very seriously and may have penalty implications on the Bank.

Internal Processes:

• Assisting Deputy CFO and Manager- regulatory reporting in various process improvements/ projects, understanding existing processes of the organization, and should be able apply analytical skills to suggest improvements in the processes and develop efficiency.

• Annual review and streamlining the processes/ SOP within department.

• Coordinating with various teams/departments within the organization to ensure all information to RBI authorities and Statutory Authorities are provided on time.

Learning & Innovation

• To keep oneself up to date on relevant regulatory updates and Ind AS amendments

• To complete all online learning modules on time

• To complete the self-assessment on time

Customer

• Role involves direct interaction with Statutory Auditors, getting financials reviewed and audit closed with minimum or no observations.

• Attend and assist to any related queries of the RBI related to the filings made.

• Must be able to guide Operations, IT & Business teams for any needful actions to be undertaken pursuant to any new requirements / changes in existing requirements per laws.

• Handling Internal Audit of the organization and ensuring minimum or no observation. Acting and keeping track of all observations to close it on timely basis.

1. MINIMUM REQUIREMENTS OF KNOWLEDGE & SKILLS

Educational

Qualifications

• CA/CMA (Recently qualified/ 1 year post qualification experience)

Experience

• Must have completed 3 years article ship training, preferably with Bank audit experience during article ship.

• Strong knowledge of accounting standards (both IGAAP and Ind-AS), conceptual understanding of accounting entries, Companies Act 2013 and tax laws.

Certifications

• NA

Functional Skills

• Strong accounting/ financial reporting background

• Having familiarity with Ind AS concepts and preferably having audit experience of Ind AS financials during article ship.

• Hands on experience with MS Office

Behavioral Skills

• Adequate analytical skills

• Keen learning ability

• Strong verbal and written communication

• Time Management skills

• Crisis Management skills

Competencies Required

• Planning & Organizing

• Driving Execution

• Collaboration

1. KEY INTERACTIONS

INTERNAL

EXTERNAL

• Finance & Accounts team

• Business / Product teams

• Operations team

• IT team

• Credit/ Risk team

• Other Functional teams on need basis

• StatutoryAudit team

• Tax Audit team

• RBI Audit team

PREPARED BY: Vasavi Priya E K

DATE: 12-09-2023

REVIEWED BY: Barun Agarwal

DATE: 06-04-2024

LAST UPDATED BY: TM Team

DATE: 06-04-2024