Accounts Executive Commission and Reconciliation - Jaipur, Rajasthan
22 hours ago
Job description
About the Company
Unione Insurance Brokers Pvt. Ltd. is an IRDAI-licensed insurance broking company engaged in providing comprehensive insurance advisory and risk management solutions across Life, General, and Health insurance segments. The organization works closely with multiple insurers and distribution partners to deliver tailored insurance solutions to clients.
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Position Overview
The Accounts Executive – Commission & Reconciliation will be primarily responsible for managing insurer commission receivables, processing commission payouts to channel partners, and handling detailed reconciliations of premium, commission, and brokerage accounts. The role requires strong analytical skills, accuracy, and a thorough understanding of accounting principles applicable to insurance broking operations.
Key Responsibilities
1. Commission Accounting & Payouts
- Calculation and verification of brokerage/commission receivable from insurance companies.
- Preparation and processing of commission payouts to agents, POSP, and channel partners.
- Ensuring timely and accurate disbursement as per agreed payout structures.
Maintaining detailed commission statements and supporting documentation.
Reconciliation Activities
Insurer-wise premium and commission reconciliation.
- Bank reconciliation on a periodic basis.
- Ledger reconciliation of receivables and payables.
- Reconciliation of policy issuance data with insurer statements.
Identification and resolution of mismatches in premium/commission data.
Accounts & Compliance
Accounting entries related to premium collection, commission receivable, and payouts.
- Maintaining proper documentation for audit and compliance purposes.
- Supporting statutory audits, internal audits, and regulatory reporting requirements.
- Ensuring adherence to IRDAI norms and internal financial controls.
- Coordination with operations and sales teams for data validation.
Required Qualifications & Skills
- Bachelor's degree in Commerce (B.Com) / M.Com.
- 2–5 years of experience in Accounts, preferably in insurance broking or insurance companies.
- Strong understanding of commission structures and reconciliation processes.
- Proficiency in Tally/ERP systems and MS Excel (VLOOKUP, Pivot Tables, basic formulas).
- Good knowledge of accounting principles and financial documentation.
- High level of accuracy and attention to detail.
- Strong coordination and follow-up skills.
Preferred Attributes
- Experience in handling multi-insurer reconciliation.
- Familiarity with IRDAI compliance requirements.
- Ability to manage high-volume transaction data efficiently.
- Strong analytical and problem-solving skills.
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