Senior Finance Executive

Job Description: Finance Executive – Insurance Brokerage

Role Overview

The Finance Executive is responsible for managing financial operations in line with brokerage activities, including premium collections, reconciliation, insurer settlements, commission accounting, and compliance with regulatory guidelines. The role ensures accuracy, transparency, and efficiency in all financial transactions to support the brokerage’s business operations.

Key Responsibilities

• Premium Management: Track, collect, and process premium payments from clients; ensure timely remittance to insurers.
• Reconciliation: Perform regular reconciliation of client accounts, insurer statements, and brokerage records.
• Commission Accounting: Monitor, record, and reconcile brokerage commissions received from insurers.
• Accounts Payable & Receivable: Maintain accurate ledgers of premiums, claims, and commissions.
• Financial Reporting: Prepare periodic MIS reports, financial summaries, and reconciliations for management.
• Compliance: Ensure all financial transactions adhere to IRDAI/regulatory requirements and company policies.
• Audit Support: Assist in statutory audits, internal audits, and insurer audits by providing accurate documentation.
• Expense Management: Record and track operational expenses of the brokerage.
• Coordination: Liaise with insurers, clients, and internal teams for financial queries and settlement issues.

Required Skills & Qualifications

• Bachelor’s degree in Commerce, Accounting, or Finance (M.Com/CA Inter preferred).
• 2–5 years of experience in finance/accounts, preferably in insurance, banking, or financial services.
• Strong understanding of insurance brokerage operations and commission structures.
• Proficiency in Tally, MS Excel, and accounting/ERP systems.
• Attention to detail with strong analytical and reconciliation skills.
• Good knowledge of taxation, statutory compliance, and IRDAI regulations.
• Excellent communication and coordination skills.