Asst. Manager / Dy. Manager / Manager (Branch Accounts)

(Hiring for one of our clients)

We are hiring an Assistant Manager / Deputy Manager / Manager (Branch Accounts) on behalf of one of our clients in the insurance sector. The role is responsible for ensuring accurate, efficient, and compliant management of all branch-level financial and accounting activities. The position plays a key role in maintaining branch accounts, managing day-to-day banking operations, preparing commission and compensation statements, controlling petty cash, and overseeing accounting aspects related to new business operations.

Key Responsibilities1. Maintaining Branch Accounts

• Maintain complete, accurate, and up-to-date branch accounts within the accounting system.
• Record all receipts, payments, and journal entries in accordance with company policies and accounting standards.
• Perform periodic reconciliations and support month-end and year-end closing activities.
• Prepare branch financial summaries and management reports for review and audit.
• Ensure compliance with internal accounting controls and audit requirements.

2. Banking Activities

• Manage branch-level banking operations including deposits, withdrawals, and fund transfers.
• Prepare and maintain daily bank reconciliation statements.
• Liaise with banks on account management, cheque clearances, and payment approvals.
• Monitor daily cash flows and ensure adequate funds for operational requirements.
• Ensure all bank transactions are properly authorized and supported with documentation.

3. Preparation of Commission & Compensation

• Calculate and prepare commission and compensation statements for agents and advisors.
• Coordinate with HR and Sales teams to validate data accuracy and consistency.
• Maintain detailed commission records for audit and reference.
• Ensure timely processing and payment of commissions in line with company policies.
• Prepare analytical reports on commission payouts and sales performance trends.

4. Maintenance of Petty Cash

• Manage and control branch petty cash and maintain accurate records.
• Process petty cash expenses supported by valid documentation and approvals.
• Conduct regular petty cash reconciliations to ensure accuracy.
• Ensure expenditures remain within approved limits and company policies.
• Submit monthly petty cash reports and replenishment requests to the Accounts Department.

5. Supervision of New Business Accounting

• Oversee accounting aspects related to new policy issuance and premium collections.
• Ensure timely recording, reconciliation, and reporting of new business income.
• Verify receipts and maintain accurate records to support underwriting and policy servicing teams.
• Ensure compliance with company policies and regulatory procedures in new business processing.
• Support the New Business Department in maintaining financial accuracy and operational efficiency.

Required Skills & Competencies

• Strong knowledge of accounting principles and financial record-keeping.
• High level of analytical ability with strong attention to detail and accuracy.
• Proficiency in accounting software (e.g. Tally, SAP, Oracle) and MS Office applications.
• Excellent organizational, communication, and coordination skills.
• High standards of integrity, confidentiality, and professionalism.
• Ability to work independently and meet tight deadlines.

Qualifications & Experience

• Education: Master’s degree in Accounting, Finance, or Commerce.
• Experience: Minimum 5 years of experience in accounting or financial operations, preferably within the life insurance industry.
• Knowledge: Strong understanding of accounting cycles, reconciliations, commission structures, and branch-level financial procedures.

Job Type: Full-time