Job Title: Executive – Accounts
Industry: Insurance Broking
Department: Finance & Accounts
Location: Andheri, West
Reporting To: Finance Manager / CFO
Job Summary:
The Executive – Accounts will be responsible for managing day-to-day accounting operations within an insurance broking environment, including premium reconciliation, insurer payables, client receivables, and regulatory compliance. The role requires strong attention to detail and familiarity with insurance accounting practices.
Key Responsibilities:
- Premium Accounting & Reconciliation
- Record and reconcile premium collections from clients
- Match insurer debit notes, credit notes, and statements
- Ensure timely remittance of premiums to insurance companies
- Receivables & Payables Management
- Track client outstanding premiums and follow up for collections
- Manage insurer payables and ensure timely settlements
- Maintain accurate ageing reports
- Brokerage & Commission Accounting
- Calculate brokerage receivables from insurers
- Reconcile commission statements with insurers
- Track pending brokerage and follow up for payments
- Bank Reconciliation
- Perform daily bank reconciliations
- Monitor cash flow and report discrepancies
- Compliance & Documentation
- Ensure adherence to IRDAI regulations and accounting standards
- Maintain proper documentation of invoices, policies, and financial records
- Assist in audits (internal & statutory)
- MIS & Reporting
- Prepare periodic MIS reports (premium, brokerage, outstanding)
- Provide financial insights to management
- System & Process Management
- Work on accounting software (e.g., Tally, Excel, ERP systems)
- Improve processes for better efficiency and accuracy
Required Skills & Competencies:
- Strong understanding of accounting principles
- Knowledge of insurance broking processes (preferred)
- Proficiency in MS Excel (VLOOKUP, Pivot Tables, etc.)
- Familiarity with Tally / ERP systems
- High attention to detail and accuracy
- Good communication and coordination skills
Qualifications:
- Bachelor’s degree in Commerce (B.Com) or equivalent
- CA Inter / CMA Inter (preferred but not mandatory)
Experience:
- 1–3 years of experience in accounting
- Experience in insurance broking / insurance industry preferred
Key Performance Indicators (KPIs):
- Accuracy in reconciliations
- Timely premium remittance
- Reduction in outstanding receivables
- Timely brokerage recovery
- Compliance adherence
Pay: ₹15,000.00 - ₹32,000.00 per month
Benefits:
Work Location: In person
