The Management Accountant - March 2024
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10 The Management Accountant - March 2024
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D. Insurance Month
The BFSI Board, ICMAI has organized the 1st physical
event on 21st February, 2024 at J.N.Bose Auditorium,
ICMAI, Kolkata for the Insurance Month event titled
“Driving Efficiency and Growth: Harnessing the Expertise of
Cost & Management Accountants in the Insurance Industry”.
The event was graced by Smt. Rajeshwari Singh Muni,
CMD, National Insurance Co. Ltd. as the Chief Guest for
the event. CMA Dr. Tarun Agarwal, Director, National
Insurance Academy also graced as the Guest of Honour
and Speaker. The event had the online presence of CMA
G. Srinivasan, Former Director, NIA and Former CMD,
New India Assurance Co. Ltd. The other erudite speakers
were namely CMA S.P. Padhi, Former Chairperson, EIRC,
ICMAI and Insurance Consultant and CMA Dr. Ashok
Kumar Jain, Former Deputy General Manager I/C, The
Oriental Insurance Company Ltd., and Member of the BFSI
Board, ICMAI. The event had the gracious presence of
the Past Presidents namely CMA Amal Kumar Das, CMA
Mahesh Shah and CMA Biswarup Basu.
CMA (Dr.) Ashish P. Thatte, Council Member and CMA
Chittaranjan Chattopadhay, Chairman, BFSIB were also
present along with CMA (Dr.) Kaushik Banerjee, Secretary,
ICMAI. The programme was attended by members, students
both in physical and on an online forum.
Further, the Board also organized a Webinar on the topic
“IFRS an Introduction” on 18th February, 2024. CMA
Anjani Kumar Khetan, Regional Head of Finance, A
renowned US Based MNC deliberated on the topic.
E. Representations to IRDAI
The Institute submitted representation to Member
(Finance & Investment), IRDAI for inclusion of practicing
CMAs in the IRDAI Regulations pertaining to Actuarial,
Finance and Investment Function of Insurers and Investment
Master Circulars for undertaking concurrent audit of the
Investment Operations and Certification of the Investment
Risk Processes of Insurers and Regulation 62 of Chapter
4 of the IRDAI (Protection of Policyholders’ Interest and
Allied Matters of Insurers) Regulations, 2024.
The Institute submitted representation to Member (Finance
& Investment), IRDAI for inclusion of practising CMAs
in the IRDAI (Registration, Capital Structure, Transfer of
Shares and Amalgamation of Indian Insurance Companies)
Regulations, 2024 to provide certification services for
Insurers seeking R2 Approval.
MANAGEMENT ACCOUNTING COMMITTEE
The Management Accounting Committee of the Institute
had organized a full day seminar (in physical mode only)
jointly with the ICMAI - Pune Chapter on 22nd February,
2024. It was a ‘One-day Foundation Program on AI for Cost
BRIEF SUMMARY OF THE ACTIVITIES OF VARIOUS
DEPARTMENTS/ COMMITTEES/ BOARDS OF THE INSTITUTE
DURING THE MONTH OF FEBRUARY 2024
BANKING, FINANCIAL SERVICES AND
INSURANCE BOARD
The Banking, Financial Services & Insurance Board of
the Institute and the BFSI department continued its various
activities and initiatives in February 2024, a synopsis of
which is presented herein under -
A. Representation letters for inclusion of CMAs
The BFSIB continues its efforts for further development
of the profession in the BFSI sector with representations
to authorities and employers for inclusion of CMAs in the
sector. CMAs are now eligible to apply for the following
post:
Chief Executive Officer in NPS Trust.
Sr. Manager (Risk), Sr. Manager (MMGS-III),
Manager (Risk), Manager (Credit) Union Bank of
India.
Officer (Credit) in Punjab National Bank.
Sr. Manager (Risk Management), The Municipal
Co-operative Bank Ltd., Mumbai.
The BFSI Board, ICMAI submitted representation
to Dakshin Bihar Gramin Bank for inclusion of CMAs
for empanelment as Concurrent Auditor, Stock Auditor,
Forensic Auditor, Certification of Turnover/Net Worth and
other such certifications.
B. Certificate Courses on Banking
The admission for the 10th batch of the Certificate Course
on Concurrent Audit of Banks, 8th Batch of the Certificate
Course on Treasury and International Banking and 10th
Batch of the Certificate Course on Credit Management of
Banks has started. The members are requested to enroll
for the courses for professional development and capacity
building.
The link for admission is stated as follows:
h t t p s : / / e i c m a i . i n / O C M A C / B F S I /
DelegatesApplicationForm-BFSI.aspx
C. Certificate Courses on Investment Management
in collaboration with NSE Academy
The BFSI Board in association with the NSE Academy
had started the Fundamental Analysis and Valuation
(Level-I) from 3rd February, 2024. The admission window
for the other two levels comprising of the, Mutual Funds and
Market Analysis with Fundamentals (Level-II) and Financial
Derivatives & it’s application (Level-III) respectively are
presently going on. The admission window is stated as
follows:
h t t p s : / / e i c m a i . i n / O C M A C / B F S I /
DelegatesApplicationForm-BFSI.aspx
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