Chief Manager - Finance & Accounts
Role & responsibilities:
1. Commission Accounting & Financial Close
- Lead monthly, quarterly, and annual closing activities relating to commission expenses.
- Ensure timely and accurate accrual, provisioning, reconciliation, and reporting of commissions across channels and business segments.
- Review commission payouts and validate accounting entries in line with company policies and accounting standards.
- Partner with operations and business teams to ensure completeness and accuracy of commission-related data.
2. Management Reporting & Business Dashboard
- Prepare and publish monthly management dashboards covering:
- Segment-wise commission ratios
- Product-wise commission trends
- Channel-wise commission analysis
- Budget vs Actual performance
- Profitability and expense trends
- Develop insightful MIS reports highlighting key performance indicators and emerging trends.
- Present monthly performance analysis to senior management with recommendations and action areas.
3. Commission Analytics & Cost Management
- Analyze commission spending patterns across products, channels, intermediaries, and business segments.
- Identify opportunities for commission optimization while supporting business growth objectives.
- Monitor commission efficiency metrics and recommend corrective actions.
- Conduct variance analysis and root-cause investigations for significant deviations from budget or expected trends.
4. Regulatory Compliance & Governance
- Monitor compliance with applicable IRDAI regulations and commission expenditure limits.
- Establish controls to ensure actual commission spends remain within regulatory and approved internal limits.
- Highlight compliance risks and work with stakeholders to implement corrective actions.
- Support regulatory reporting requirements relating to commission expenses and distribution costs.
- Maintain documentation and audit readiness for internal and external reviews.
5. Financial Planning & Analysis (FP&A)
- Support annual budgeting and long-range planning processes.
- Drive periodic forecasting and outlook submissions.
- Prepare scenario analyses and business projections for management decision-making.
- Evaluate the financial impact of changes in commission structures, distribution strategies, and product initiatives.
- Support strategic business reviews and management presentations.
6. Business Partnering & Stakeholder Management
- Collaborate closely with Distribution, Sales, Product, Actuarial, Underwriting, and Operations teams.
- Influence business decisions through data-driven insights and financial analysis.
- Support leadership reviews and board-level presentations as required.
- Drive continuous improvement in reporting automation, controls, and analytics.