Kamaresh Kumar Karunakaran

Experience

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  MCIS ZURICH INSURANCE BERHAD

  Jan 2007 - Jul 2011

  ASSISTANT MANAGER FINANCE REPORTING

  Responsibilities - Analysis of Investment Link fund on Net Asset Value pricing reconciliation based on CAMRA system and general ledger system (CODA)- Monitor on daily interface file from life operation systems (LIAS) to general ledger system (CODA). - Monitor mapping of accounting code between Life Operating System (LIAS) and General Ledger System (CODA)- Monthly and quarterly preparation of standard provision. Review posting of journal and trial balance of Investment Link fund. - Monthly financial reporting based on ICSS system submitted to Bank Negara Malaysia (Central Bank of Malaysia) - Provide provision for taxation and deferred tax for Investment Link funds.- Prepare performance report for Actuary Division- Prepare audit schedule and liaise with auditor for financial year closing report. - Prepare performance report for Investment Link Fund to publish to policy holder.- Expose to new product testing on accounting entry in system before launching.- Committee members in Data Cleansing Project for new life system development.- Committee members in Business Continuity Process for continuity of business during critical environment.- Represent Finance department in Anti Money Laundering committee.- In charge of bug fixing for accounting entry and process flow in system.- Represent Finance department on Gap Analysis for changing of New Life Operation System. Duties are test system process flow according to justify business rule and check accounting being generate according to business rule. - Work together with Tower Watson group to do compensation to policy holders on Investment Link policies due to pricing error occurs in investment operation system. Committee members and coordinators for Investment Link rectification project. On this project involve in various kind investigation and analysis to rectify unit balance in operation system. Show less

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  AMASSURANCE

  Jul 2011 - Feb 2013

  MANAGER

  1) Involve in monthly Central Bank reporting for 13 Investment Link funds.2) Monitor on daily posting to GL system and able to compute NAV for valuation.3) Prepare monthly company performance management reporting paper to present by CFO in senior management meeting.4) Prepare monthly board reporting for CFO to present in board meeting.5) Involve in variance analysis on company balance sheet and Income statement position on monthly basis. Prepare report on company performance to explain to senior management and board of directors. 6) Analyse performance on business on premium production, management expenses and profitability of the units.7) Involve automation project on finance reporting process flow to be more efficient and effective.8) Involve on internal project to integrate investment system posting to GL system.9) Provide feedback on insurance system setup and define accounting entries according to business rule.10) Analyses on company performance by premium, channel and product highlight to senior management on company direction.11) Liaise with internal and external auditor on audit schedule and answer their quarries on insurance operation.12) Prepare annual audit report on Investment Link funds.13) Monitor fixed asset register ties with GL closing balance. Check on monthly depreciation computed and posted correctly in GL.14) Liaise with actuarial department for computation embedded value and report in board report. 15) Involve other ad hoc duties related to financial reporting duties. Show less

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  Liberty Insurance Berhad

  Feb 2013 - Sept 2018

  FINANCE MANAGER

  - Involve on monthly, quarterly and financial year end "Bank Negara Reporting".- Review and analyses on monthly management performance report.- Involve on preparation financial report for company and consolidation report. Assist external audit on preparation year end financial audited report company and group company.- Review and prepare commentary for board reporting on company performance.- Review management reporting performance for DRB GROUP reporting.- Review and liaise with tax agent on company tax computation.- Involve on company budget process.- Involve internal projects on Financial Reporting Standard, Management Expenses analysis by products, Good Service Tax and Improvement on process flow. Show less

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  AIA Shared Service Sdn Bhd

  Oct 2018 - Apr 2019

  Manager Reporting & Analysis
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  Gibraltar BSN Life Berhad

  May 2019 - May 2024

  Manager Reporting, Budgeting & Tax
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  FWD Insurance Berhad

  Apr 2024 - now

  Head of Finance