Associate Vice President - Finance and Accounts

Join Tata AIA Life Insurance, a leading and fastest-growing life insurance provider in India, established in 2001 as a joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. Our company embodies a legacy of trust, integrity, and excellence, combining Tata's esteemed leadership with AIA's extensive pan-Asian expertise. At Tata AIA, our vision is to be the pre-eminent protection provider enabling dreams and inspiring healthier, happier lives.

We foster a culture of innovation, inclusivity, and continuous learning, offering dynamic career growth opportunities and a supportive work environment. Recognized as a 'Great Place to Work' and recipient of the Kincentric Best Employer Award, we are committed to employee satisfaction and holistic well-being. Our core value, 'People - Our Core,' emphasizes our dedication to inspiring our employees to be and deliver their very best. Our aim is to attract, hire and develop highly capable leaders who are just, fair, ethical, and accountable for their actions. We strive to provide our employees with the right training, technology, equipment, resources, and guidance to perform their job effectively. Our promise to you is to provide for a diverse, equitable, and inclusive work environment, where each employee is valued as an individual and treated with respect, care, and compassion.

Fuel your future with us, find your wings, and S.O.A.R. – Shape opportunities, Optimize your potential, Accomplish meaningful work, and Reap holistic growth.

• Position Overview

Position Title

Associate Vice President – Finance & Account (Tax compliance Process excellence and Control)

Department

Taxation Accounting

Level/ Band

Associate Vice President -601

Role Summary

The employee will assist the SMT – Finance & Accounts to ensure overall tax compliance with robust processes and control around Direct/Indirect tax compliances applicable to the Company at the national level.

• Organizational Relationships

Reports To

Head- Taxation

Supervises

Manager/Asst Manager/ (Outsourced support staff)

Job Dimensions

Geographic Area Covered

Pan India

Stakeholders Internal

Policy servicing, Compliance, Agency Sales, Distribution Operations, Information Technology, Sales and Marketing. Finance & Accounts i.e. Payable, Treasury. Ops Accounting, Operations etc. Legal & Compliance

Stakeholders External

Tax Consultants, Vendors

• Key Result Areas

Organization process

Key contribution area

Direct and Indirect Tax Compliance

· Timely and accurate payment of taxes

· Timely and accurate filing of Direct and Indirect returns

· Manage tax litigation for the Company in Direct and Indirect taxes with complete audit trail.

· Manage Taxation accounting, tax computation and various statutory audits.

· Optimize tax cost for the Company with no leakages.

Business Process Re-engineering - Tax Compliance

· To facilitate the rollout of process excellence initiative with focus on Business process reengineering/Process transformation by developing process modeling (to-be state) and measurement system for various tax related compliances

· Drive process standardization for the organization with an objective of optimizing Tax compliance process across organization

· Understand business need with ground level issues – regulatory/productivity improvements etc.

· Establishing of Tax compliance process workflow with the help of functional SMEs across organization

· Capture process, procedure level deviations and ensure periodic reporting of gap in various tax compliances

· Govern the new tax process rollouts/system implementation and its approval across Operations and Systems

· Deploy effective metrics/KPIs to measure the effectiveness of the tax processes including their operational definitions and reporting frequency

· Review and mentor the various improvement projects for effective tax compliances and reporting

Managing Financial Risk and Controls around tax compliance

· Maintain the Risk Management framework and supporting policies and procedures for various tax related process and compliances.

· Maintain the repository of RCSA/IFC/tax notices tracker/tax refund receivables/tax control reports.

• Ensure robust and effective documentations to support various tax compliances to eliminate risk of tax notices/demand/interest penalty due to short deduction of TDS/GST input loss/ Incorrect FATCA/PAN declaration by Policyholder/distributors/Vendors.

• Monitor tax related information submitted by Policyholders/distributors/Vendors and publishing periodic MIS of non-compliant parties

Internal Coordination

• Excellent in follow up/co-ordination with Sales, Finance, compliances, Operations for various tax related process and compliances.

• Close coordination with IT to ensure filling gaps in tax related controls and driving tax automation

• Skills Required

Technical

· Knowledge of Direct/Indirect tax laws applicable from time to time

Tax Process and Technology

· Should be able to understand various business process around tax and drive process excellence and tax technology in close coordination with IT.

Behavioral

Essential

Desired

Interpersonal skills

·

Communication skills

·

Creative thinking skills

·

Supervising / Leadership skills

·

Teamwork Skills

·

Influencing skills

·

Relationship Building skills

·

Decision making skills

·

Language Skills

·

• Incumbent Characteristics

Essential

Desired

Qualification

CA/CS

• Six Sigma with a understanding of insurance/BFSI processes, Business workflow

• Black / Green Belt certified

• BFSI / BPO vertical. Risk Management

Experience

10 + years of work Experience industry in Tax Compliance, Process and Technology

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