Associate Manager - Consolidated Financial Reporting

Job Description

1. Job Purpose
   • Ensure the accuracy, completeness, and compliance of the consolidated financial statements for Air India.
   • Support financial analysis and reporting activities within the Accounting Policy & Consolidation team. This involves conducting in-depth analysis of the consolidated financial statements to identify trends, variances, and opportunities for improvement.
2.  Key Accountabilities

   • Assist in the Consolidation Process

     • Support the Financial Controller and senior team members in the consolidation of financial statements for Air India and its subsidiaries.
     • Ensure accuracy, completeness, and compliance with accounting standards and regulatory requirements during the consolidation process.
     • Verify and reconcile financial data from various sources, including subsidiaries, to facilitate consolidation.

   • Manage Intercompany Transactions

     • Monitor and manage intercompany transactions, ensuring proper elimination of intercompany balances and transactions in the consolidated financial statements.
     • Reconcile intercompany accounts and resolve any discrepancies in a timely manner to maintain the integrity of the consolidation process.

   • Financial Analysis and Reporting

     • Conduct detailed financial analysis of consolidated financial statements to identify trends, variances, and areas for improvement.
     • Prepare financial reports, schedules, and presentations for management, providing insights and recommendations based on analysis.
     • Assist in the preparation of consolidated financial reports for external stakeholders, ensuring compliance with reporting standards and regulatory requirements.

   • Coordinate with Subsidiaries and Stakeholders

     • Liaise with finance teams of subsidiaries to gather financial data, resolve queries, and ensure timely submission of required information for consolidation.
     • Collaborate with internal stakeholders, including finance, accounting, and audit teams, to facilitate the consolidation process and address any issues or concerns.

   • Ensure Compliance and Audit Support

     • Assist in ensuring compliance with accounting standards, regulations, and internal policies during the consolidation process.
     • Support internal and external audit processes related to consolidation, providing necessary documentation and explanations as required.

   • Process Improvement and Documentation

     • Identify opportunities for process improvements in the consolidation process to enhance efficiency, accuracy, and effectiveness.
     • Document consolidation procedures, accounting policies, and guidelines to ensure consistency and transparency in the consolidation process.

   • Stay Updated on Accounting Standards and Best Practices

     • Stay abreast of developments in accounting standards, regulations, and best practices related to financial consolidation.
     • Continuously update knowledge and skills to ensure compliance and efficiency in the consolidation process.
     • Any other additional responsibility could be assigned to the role holder from time to time as a standalone project or regular work. The same would be suitably represented in the Primary responsibilities and agreed between the incumbent, reporting officer and HR.