Poonam Jain

Milliman LLC- (April’16- Present) - Financial Consultant (Outsourced to Insurance Authority of UAE)

Working exclusively with the Insurance Authority of UAE as a Financial Expert.

Key responsibilities included:
• Assisting the Insurance Authority on financial related issues.
• Ensuring compliance to the Financial Regulations issued by the Insurance Authority.
• Follow up with the company’s on non-submission of quarterly/annual requirements.
• Reviewing of e-forms and other documents required by the insurance authority, on quarterly basis and providing feedback to the Industry.
• Carrying out onsite inspections of insurance companies and brokers and issuing report based on inspections, including compliance recommendations.
• Follow up with the insurance companies on the reports issued and tracking the compliance progress
• Assisting in preparation of annual report for the industry.
• Assisting in preparation of various reports for internal circulation within the Insurance Authority
• Provide inputs on various financial aspects as and when required.

Associated with AIG for 3 years and working as an Assistant Manager-Financial Planning & Analysis.

Key responsibilities include:
• Preparation of detailed operational budget- like revenue per region and product, expenses by department and project, headcount projections, etc on annual basis for all Arabian Countries, within the given timeframe.
• Preparation and submission of 5 year plan based on the guidelines and timelines given.
• Developed various excel based models for better monitoring of budget.
• Preparation and submission of Quarterly estimates and forecasts along with insightful business analytics accomplished through effective business partnering.
• Monitoring of actual results with budget and estimates and providing the stakeholders with quality and timely analysis on the variances.
• Tracking of Production on a weekly basis and communicating the functional owners their performance against the budget and estimates.
• Inputting budget, estimates and actual in Cognos and analyzing the data therefrom
• Assisting the controllership team in monthly and quarterly closing process by providing requisite detailed expense allocation by function and by line of business, SI Analytics, etc.
• Providing monthly provision details to controllers’ team for recording in the books of accounts.
• Coordinating closely with the Regional Team and ensuring quality submission of various quarterly reports- like quarterly P&L Analytics, detailed expense analytics, professional fees, travel spend, flash estimates, AES, etc
• Assisting the business partners in understanding the product profitability, expense monitoring and various other inputs as and when requested
• Providing inputs for Board meeting presentations

Major Contributions:
• Assisted in making projections for new business opportunities identified by the company.
• Developed various excel based models to streamline the process of monthly and quarterly reporting.
• Independently handled FP&A related activities for Arabia during staff turnover.

The key responsibilities included:

• Working exclusively for the airport sector and providing assurance to the management over functioning of various processes and departments.
• To prepare Annual Audit Plan and Audit Universe on the basis of risk associated with the business, at the beginning of each financial year
• To prepare audit plan and audit program for each of the audits planned as per annual audit plan.
• To review Standard Operating Procedures and ensuring compliance to the same.
• To ensure books of accounts are prepared in accordance with generally accepted accounting principles.
• To review the Annual Operating Plan, MIS reports and other internal reports prepared by various departments.
• To compare the actual expenditure with the budgeted expenditure and analyze the reasons for variances, if any.
• To review various processes, identify the key controls and validate those.
• To review commercial agreements and procurement contracts on periodic basis.
• To validate the master data in SAP to ensure contract terms are defined accurately and transactions are accounted correctly.
• To ensure requisite documentation is maintained for every process and activity undertaken by the company.
• To verify the incentives and carry out investigation audit and other special assignments as desired by the management.
• To prepare audit report on conclusion of each assignment, highlighting the overall magnitude of risk, positive assurances noted, the exceptions noted and the extent of risk in each of the exceptions observed.
• To suggest risk mitigation plan for each of the exception noted and to obtain replies from the management on the same.
• To follow up for compliances till the risk is mitigated.
• To highlight the high and medium risk areas to various levels of management on periodic basis.

Completed 3 years of articleship as per the requirements of Institute of Chartered Accountants of India.

The area of responsibilities included:

Statutory Audit and Tax audit of proprietorship, partnerships firms, public and private limited companies.

Performed Internal Audits, Stock Audit and Bank Audits.