Manager - Finance & Accounts (Insurance Broking)

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Experience: 4+ yrs

Location: Surat, Gujarat, India

Job Type: Full-time

We are looking for an experienced Manager - Finance & Accounts to take ownership of the finance and accounting function for an insurance broking business. The role requires strong expertise in financial accounting, reconciliations, taxation, reporting, controls, and transaction management, along with a practical understanding of regulated financial services.

The position will involve taking ownership of existing books, strengthening accounting processes, establishing effective internal controls, and ensuring accurate and timely financial reporting. The ideal candidate will be comfortable working in an evolving environment and managing both day-to-day finance operations and regulatory reporting requirements.

Requirements

KEY RESPONSIBILITIES

• Own the end-to-end accounts payable and accounts receivable processes, including invoice processing, approvals, payment scheduling, collections, ageing, and ledger reconciliation.
• Reconcile brokerage and commission statements received from insurance companies against policies booked and resolve discrepancies.
• Manage vendor, insurer, partner, and customer master data, payment terms, and supporting documentation.
• Monitor high-value financial transactions and ensure appropriate authorisation and maker-checker controls.
• Perform daily bank reconciliations across operating and designated insurance accounts.
• Ensure appropriate accounting and segregation of premium funds collected on behalf of clients in accordance with applicable regulatory requirements.
• Track premium remittances to insurers and reconcile payments with policy records.
• Monitor cash positions, cash flows, working capital requirements, and fund movements.
• Manage day-to-day accounting and month-end and year-end financial closing.
• Prepare financial statements, MIS, profit and loss statements, cash-flow reports, and management reports.
• Support budgeting, forecasting, variance analysis, and cost-control initiatives.
• Coordinate with statutory, internal, and tax auditors and ensure timely resolution of audit observations.
• Develop and document SOPs, internal controls, accounting processes, and finance workflows.
• Manage GST compliance, including returns, input tax credit reconciliation, and appropriate treatment of insurance brokerage transactions.
• Manage TDS deduction, payments, returns, and certificate issuance.
• Support advance tax calculations, income tax filings, assessments, and related requirements.
• Coordinate ROC and other statutory filings with the company secretarial function.
• Prepare financial information and schedules required for IRDAI periodic returns and regulatory filings.
• Maintain documentation supporting net worth, professional indemnity, and other applicable regulatory requirements.
• Support the Principal Officer and compliance teams with financial records, data, and responses during inspections or regulatory queries.
• Maintain accounting and financial records in accordance with applicable insurance broking regulations and prescribed formats.

WHAT MAKES YOU A GREAT FIT

• 4+ years of relevant professional experience, with strong post-qualification experience in finance and accounting.
• Chartered Accountant or equivalent professional qualification with comparable depth of financial expertise.
• Mandatory experience in insurance, insurance broking, stockbroking, or another regulated financial services environment.
• Strong hands-on expertise in accounts payable, accounts receivable, reconciliations, financial closing, and transaction accounting.
• Good understanding of insurance brokerage, commissions, premium accounting, and insurer reconciliations.
• Working knowledge of GST and TDS, particularly within financial services.
• Exposure to IRDAI regulatory reporting is highly desirable; experience with SEBI or exchange-related reporting is an advantage.
• Strong financial reporting, MIS, budgeting, forecasting, and variance-analysis capabilities.
• Advanced proficiency in Excel and hands-on experience with Tally or a comparable ERP/accounting system.
• Experience establishing finance processes, controls, SOPs, or reporting systems in an early-stage, newly acquired, or evolving business environment.
• Strong understanding of internal controls, audit processes, documentation, and financial governance.
• Ability to work independently, take ownership of finance operations, and operate effectively where processes are still being established.
• Strong analytical, reconciliation, problem-solving, and attention-to-detail skills.
• Excellent communication and stakeholder-management abilities.
• Candidates based in Surat or genuinely open to relocating will be preferred.
• Fluency in Gujarati and Hindi, along with strong English communication skills, is an advantage.