Manager – Finance & Accounts (Insurance Broking)
Location: Piplod, Surat, Gujarat — On-site
Position: Manager – Finance & Accounts (Insurance Broking)
Entity: Insurance broking entity of the group (direct broker licence)
Reports to: Head of Finance
Qualification: Chartered Accountant, or equivalent qualification with comparable depth
Experience: 5–8 years post-qualification, with mandatory insurance or stockbroking sector background
Compensation: Up to ₹20 LPA (fixed, all-inclusive)
Working Days: Monday to Saturday; holidays as per the bank holiday calendar
Selection Process: 2–3 rounds of interviews
ABOUT THE OPPORTUNITY:
Our client is an established financial services group in Surat with a strong presence in stockbroking, now expanding into insurance distribution through a recently acquired direct insurance broking licence. This role sits within the insurance entity and carries ownership of its finance and accounts function.
Because the licence has been acquired rather than built from scratch, the role involves genuine groundwork — taking over and cleaning up existing books, establishing processes and controls, and setting the reporting cadence for a business in its early stages. The position reports directly to the Head of Finance. As the vertical scales, the scope is expected to broaden across the group's other businesses.
The mandate is primarily an accounts and transaction ownership role, with regulatory and statutory reporting responsibilities attached. It is not a designated compliance officer position.
KEY RESPONSIBILITIES:
Accounts Payable & Receivable
- Own the end-to-end accounts payable cycle — vendor invoice processing, verification, approval workflow, payment scheduling and vendor ledger reconciliation
- Own the end-to-end accounts receivable cycle — brokerage and commission receivable from insurers, ageing analysis, follow-up and collection tracking
- Reconcile brokerage statements received from insurance companies against policies booked; investigate and resolve variances
- Maintain vendor and partner master data, payment terms and supporting documentation
Transaction Management & Reconciliation
- Manage and monitor high-value transactions, with appropriate authorisation controls and maker-checker discipline
- Perform daily bank reconciliation across operating accounts and the designated insurance bank account
- Ensure correct handling and segregation of premium funds collected on behalf of clients, in line with IRDAI requirements
- Track premium remittance to insurers and reconcile against policy records
- Monitor fund position, cash flow planning and working capital requirements
Accounting, Reporting & MIS
- Manage day-to-day accounting, month-end and year-end closing for the entity
- Prepare financial statements, MIS, profit and loss, cash flow and management reports for the Head of Finance and leadership
- Drive budgeting, forecasting, variance analysis and cost control
- Coordinate with statutory, internal and tax auditors; ensure timely closure of audit observations
- Build and document standard operating procedures, internal controls and process flows for a newly established function
Taxation & Statutory Compliance
- GST compliance — returns, input credit reconciliation and correct treatment of insurance brokerage
- TDS deduction, payment, returns and issuance of certificates
- Advance tax workings, income tax filings and assessment support
- ROC and other statutory filings, in coordination with the company secretary
Regulatory Support (IRDAI)
- Prepare financial data and schedules required for IRDAI periodic returns and filings
- Support net worth and professional indemnity requirements, and maintain the underlying documentation
- Assist the Principal Officer and compliance function with records, data and responses during inspections or regulatory queries
- Maintain records in the formats prescribed under the Insurance Brokers Regulations
Requirements:
- Chartered Accountant, or an equivalent qualification with comparable depth
- 5–8 years of relevant post-qualification experience
- Mandatory prior experience in the insurance or stockbroking sector — insurance broking, corporate agency, insurer, stockbroking or a comparable SEBI / IRDAI regulated financial services firm
- Strong command of accounts payable, accounts receivable, reconciliations and the month-end close
- Working knowledge of GST and TDS as applied to financial services
- Advanced Excel and reporting skills; hands-on experience with Tally or a comparable ERP
- Based in Surat, or genuinely open to relocating
Preferred:
- Exposure to IRDAI regulatory reporting, or to SEBI and exchange reporting
- Experience setting up a finance function, or working within an early-stage or newly acquired business
- Comfortable operating independently where process infrastructure is still being built
- Fluency in Gujarati and Hindi alongside English
TERMS OF ENGAGEMENT:
- Compensation: up to ₹18 LPA, fixed and all-inclusive, based on experience and current package
- Working days: Monday to Saturday; holidays as per the bank holiday calendar
- Relocation support: considered on a case-to-case basis
- Selection process: 2 to 3 rounds of interviews
- Open to candidates of any gender