Crossroads Insurance Brokers LLC - Finance Manager - CA

Job Title Finance Manager Insurance Business

Location: Infopark - Cochin

Grade / Band M2 / M3

Reporting: Head of Finance

Job Purpose:

- The Finance Manager will play a pivotal role in overseeing the financial management of HTIC Globals insurance brokering operations in the UAE. This position will be responsible for ensuring accuracy in financial operations such as general ledger (GL), accounts receivable (AR), accounts payable (AP), and compliance with local and international financial regulations.

- In addition to operational duties, the Finance Manager will contribute to strategic financial leadership, ensuring the company's financial stability and supporting long-term decision making. This role is critical for driving financial performance, optimizing business efficiency, and maintaining the integrity of financial data.

Primary Responsibilities:

- General Ledger (GL) Management: Maintain the standards of bookkeeping, integrity of the general ledger, ensuring accuracy in journal entries and overall financial data.

- Accounts Receivable (AR): Oversee the AR process to ensure timely reconciliation. Statements of Accounts (SOA) must be processed on time, with collections of payments completed within the established timeline.

- Accounts Payable (AP): Manage the AP process, Ensure the collection of commissions, and that periodic vendor payments are processed promptly without any delays.

- Financial Reporting: Oversee monthly, quarterly, and annual financial reports in collaboration with the GL Managers, ensuring timely and accurate MIS reporting of business performance.

- Budgeting & Forecasting: Lead the budgeting and financial forecasting processes, ensuring alignment with strategic objectives. Implement cost management strategies to control overspending and optimize savings.

- Financial Planning & Analysis: Analyze financial results, provide variance analysis, and deliver insightful commentary for management decisions. cost control on over.

- Insurance-Specific Financial Management: Handle finance-related functions in the insurance brokering business, including commission tracking, premium reconciliation, and revenue recognition.

- Tax Management & Compliance: Ensure compliance with UAE tax regulations, manage tax filings, and lead tax audits.

- Audit & Regulatory Compliance: Manage internal and external audits, ensuring compliance with regulatory frameworks and financial standards.

- Team Management: Supervise and mentor the finance team to ensure high performance and continuous professional development.

Skills and Qualifications:

Education:

- MBA from a reputed institute is preferred, CA qualification.

Experience:

- Minimum of 8 years of relevant finance experience, preferably in the insurance or financial services sector.

- Proven experience in managing GL, AR, AP, and financial reporting.

- Strong knowledge of tax management, audits, and financial compliance.

- Knowledge of UAE tax regulations and compliance standards is preferred.

- Experience with financial systems and accounting software.

Key Technical Skills:

- Excellent knowledge of accounting principles, tax regulations, and financial reporting.

- Advanced proficiency in financial software, ERP systems, and Microsoft Excel.

Soft Skills:

- Exceptional analytical and problem-solving skills.

- Strong leadership and team management capabilities.

- Excellent communication and interpersonal skills to effectively collaborate with cross functional teams.

- High level of organizational skills with the ability to meet deadlines in a fast-paced environment.

KPIs & Performance Metrics:

1. Timely Financial Closing:

- Monthly financial closing completed within 5 working days.

- Quarterly and annual financial statements completed by the regulatory deadline.

- Financial data accuracy maintained with an error rate below 2%.

2. Budget Variance Control:

- Variance from budget kept under 5%, with explanations and corrective actions provided for deviations.

- Cost management strategies implemented to prevent overspending and maximize savings.

Job Title Finance Manager Insurance Business

3. Accounts Receivable (AR) Aging Management:

- AR turnover target: 30 days or less.

- Overdue AR (>30 days) kept below 10% of total receivables.

4. Accounts Payable (AP) Aging Management:

- AP turnover maintained within 60 days or less.

- Vendor relationships managed effectively to ensure no significant overdue payments.

5. Cash Flow Management:

- Cash flow forecasts maintained with less than 5% variance.

- Ensure sufficient liquidity for operational needs without relying on short-term borrowing.

6. Compliance & Audit Success:

- Internal audits completed with no significant or repeat findings.

- External audits passed with no material non-compliance.

- Timely tax filings with no penalties or delays. (if any)

Career Progression:

This role offers multiple career development pathways within HTIC Global:

1. Senior Finance Manager:

- Based on performance, the Finance Manager may progress into the role of Senior Finance Manager, taking on additional responsibilities such as overseeing larger teams, contributing more to strategic decision-making, and handling more complex financial projects.

- Timeline: Typically, within 1-3 years, depending on individual performance and company needs.

2. Head of Finance:

- After demonstrating strong leadership and financial management, the Senior Finance Manager may evolve into the Head of Finance role, oerseeing all financial operations, budgeting, risk management, and strategic financial planning for HTIC Global.

- Timeline: Typically, within 2-4 years after becoming Senior Finance Manager, depending on individual performance.

3. Regional or Global Finance Leadership:

- There is an opportunity to grow into a Regional (or) Global Finance Director role, managing the finance function across multiple regions, or expanding into global financial leadership.

- Timeline: Typically, within 3-5 years, depending on the ability to manage larger responsibilities and cross-functional teams.

4. Chief Financial Officer (CFO):

- Long-term career growth can include becoming the CFO of HTIC Global, responsible for the companys overall financial strategy, M&A, investor relations, and strategic financial planning.

- Timeline: 5-7 years, depending on company expansion and individual leadership development.