Associate Manager -Financial Reporting (Reconciliation and Accounting)
About Navi : Navi is one of the fastest-growing financial services companies in India providing Personal & Home Loans, UPI, Insurance, Mutual Funds, and Gold. Navi's mission is to deliver digital-first financial products that are simple, accessible, and affordable. Drawing on our in-house AI/ML capabilities, technology, and product expertise, Navi is dedicated to building delightful customer experiences.
Founders: Sachin Bansal & Ankit Agarwal
Know what makes you a “Navi_ite” :
1.Perseverance, Passion and Commitment
• Passionate about Navi’s mission and vision
• Demonstrates dedication, perseverance and high ownership
• Goes above and beyond by taking on additional responsibilities
2.Obsession with high quality results
• Consistently creates value for the customers and stakeholders through high quality outcomes
• Ensuring excellence in all aspects of work
• Efficiently manages time, prioritizes tasks, and achieves higher standards
3.Resilience and Adaptability
• Adapts quickly to new roles, responsibilities, and changing circumstances, showing resilience and agility
Key responsibilities:
1. Complex Reconciliation Management:
○ Oversee and perform reconciliations for complex transactions, including principal, interest, fees, and other related transactions.
○ Ensure accuracy and completeness in reconciliation activities, particularly in scenarios involving intricate loan structures.
○ Investigate and resolve complex discrepancies between internal records and external statements or reports.
2. Accounting under Ind AS:
○ Ensure compliance with Indian Accounting Standards (Ind AS) in all reconciliation and accounting activities.
○ Stay updated with changes in Ind AS and assess their impact on loan accounting and reconciliation processes.
3. Loan Accounting Setup and Modification:
○ Assist in the setup and modification of loan accounting practices for different loan structures, including adjustments for new products or changes in regulatory requirements.
○ Collaborate with other teams to develop and implement accounting policies and procedures for new loan structures.
○ Review and modify accounting systems and processes to accommodate new loan products and ensure accurate financial reporting.
4. Process Improvement:
○ Identify and implement process improvements in reconciliation and loan accounting to enhance accuracy, efficiency, and compliance.
○ Lead initiatives to streamline reconciliation processes and reduce errors.
5. Data Analysis and Reporting:
○ Analyze reconciliation and loan accounting data to identify trends, anomalies, and areas for improvement.
○ Prepare and present detailed reports on reconciliation activities, accounting for loan structures, and compliance with Ind AS to senior management.
○ Monitor and report on key performance indicators (KPIs) related to reconciliation and loan accounting.
6. Compliance and Controls:
○ Ensure adherence to internal controls, regulatory requirements, and Ind AS standards in all reconciliation and accounting activities.
○ Support internal and external audits by providing necessary documentation and explanations for reconciliation and loan accounting processes.
○ Implement and monitor corrective actions for compliance issues and discrepancies.
Key requirements
● CA Fresher to 1 year or 2+ years of experience in Finance operations or Accounts Payable
● Deep understanding of Ind AS and its application to loan accounting
● Attention to detail - thoroughly review financial data for errors, inconsistencies and ensure accuracy in financial reporting.
● Strong analytical skills to identify potential risks or opportunities
● High learnability and adaptability to evolving compliance/accounting requirements
● Strong teamwork and collaboration skills