Financial Officer

Key responsibilities:

Financial Management and reporting

• Oversee the IIOs financial performance, including profit and loss management, budgeting and forecasting.
• Collaborate with the CFO to align branch financial actions to Group objectives
• Ensure accurate and timely preparation of financial statements in compliance with regulatory standards.
• Prepare the Budget for IIO under local & HO standards and liaise with central FP&A team on consolidating into the Group budget
• Monitor branch performance, financial health, and key ratios and report to head office on IIO’s performance, challenges, and strategic initiatives

Compliance and Regulation: (Aligned to HO and IIO Risk Policy)

• Implement robust risk management practices to safeguard the IIO’s business and reputation.
• Monitor risks related to investments, underwriting, market, liquidity, operational, and strategic factors.
• Ensure adherence to IFSCA, IRDAI financial regulations.
• Coordinate regulatory filings, statutory returns, and compliance reviews
• Coordinate the external vendors
• Ability to manage direct and indirect tax compliance

Accounting & Treasury Operations

• Oversee accounting, including inward premium booking, commission statements, and treaty reconciliations
• Perform operational cash flow and liquidity management, monitor daily cash flows to ensure sufficient liquidity to pay claims and expenses, and manage premium collections and claim payouts and other operating expenses .
• Manage branch-level liquidity and investment of technical reserves as per IFSCA norms and HO guidelines
• Liaise with HO CM, AP and AR team to ensure the smooth operation in the branch and adherence to the HQ rules and procedures
• Support HO in statutory audits, internal audits, and reconciliations
• Implement investment strategy for the branch based on the investment policy and guidelines approved at HQ level . Manage day to day investment transactions

Coordination with Internal departments and external parties

• Ability to communicate effectively with the following departments:
• Appointed auditors and tax advisers
• Actuarial team (for reserves, projections)
• Investment team
• Underwriting/Reinsurance (for pricing and loss ratios)
• Claims (for expense management and reserves)
• Operations and IT (for system integration and automation)
• Head Office Finance, Tax, and FP&A teams
• Key customers, brokers, and reinsurers