Role Purpose The Finance Manager will own the day-to-day finance, accounting, regulatory reporting, and taxation activities of the IIO. Working closely with the CFO and the Singapore Head Office Finance team, the role ensures accurate books of account, timely regulatory and statutory submissions, robust audit and tax compliance, and strong financial controls as the branch scales its reinsurance operations.

Key Responsibilities

Accounting & Financial Control

- Maintain the books of account of the IIO in accordance with Head Office accounting policies (FRS 117 / IFRS 17) and applicable local requirements, including the general ledger, sub-ledgers, and month-end close.
- Record and reconcile reinsurance premiums, claims, commissions, retrocession, and investment transactions, ensuring the IIO fund is segregated from Head Office insurance operations.
- Prepare monthly management accounts, financial statements, commentary, and variance analysis for management and Head Office consolidation (in INR, USD, and SGD as required).
- Establish and operate strong internal financial controls, reconciliations, and audit trails.

Regulatory Reporting
- Prepare and file periodic returns to the International Financial Services Centres Authority (IFSCA), including quarterly and annual financial, solvency, and business returns, within prescribed timelines.
- Support with SEZ/IFSC compliance filings, such as the Monthly Progress Report (MPR), Annual Performance Report (APR), and Service Exports Reporting Form (SERF).
- Coordinate with Head Office on MAS and Group regulatory reporting requirements impacting the IIO.

Statutory Reporting & Audit
- Prepare statutory financial statements of the branch and support schedules in line with applicable accounting standards and Head Office policy.
- Manage the annual statutory audit and tax audit in India, acting as primary point of contact and ensuring the timely closure of audit queries.




- Support Head Office group audit, transfer pricing audit, and internal audit reviews, providing the consolidation working files and reconciliations.

Taxation (Direct & Indirect)
- Manage direct tax compliance, including corporate income tax/ MAT computations, advance tax, income tax return filings, withholding tax (TDS), and Section 80LA tax-holiday matters.
- Oversee transfer pricing compliance, including inter-company arrangements, transfer pricing documentation, and Form 3CEB coordination.
- Manage indirect tax (GST) compliance - monthly/ quarterly GST returns, annual GSTR-9 / 9C, input tax credit and reverse- charge considerations for reinsurance transactions.
- Handle withholding tax certificates, Forms 15CA/ 15CB, tax residency documentation (Form 10F, No-PE declarations) for cross-border cessions, and liaise with tax advisors and authorities on assessments and queries.

Treasury, Banking & Stakeholder Management
- Support banking operations (USD and INR accounts), payments, payroll-related remittances, and management of investible funds in line with Head Office policy.
- Liaise with Head Office Finance, external auditors, tax consultants, bankers, regulators (IFSCA/ SEZ) and internal stakeholders across underwriting, claims, and compliance.
- Contribute to process design, automation and standardization as the branch's finance operations mature.

Qualifications & Experience

- Chartered Accountant (CA) or equivalent qualified qualification.
- 8 to 12 years of relevant post-qualification experience in finance, accounting,



regulator/ statutory reporting, and taxation.
- Prior experience in an insurance or reinsurance company is mandatory
- Strong working knowledge of accounting standards (IFRS/ IFRS 17/ Ind AS), regulatory and statutory reporting, audit processes, and Indian direct and indirect taxation.

Skills & Competencies
- Excellent written and verbal communication skills, with the ability to engage confidently with regulators, auditors, advisors, Head Office, and senior management.
- High attention to detail, strong analytical ability, and a control-focused mindset.
- Proficiency in Excel and financial systems (e.g. Oracle GL/ ERP), comfortable with automation and reporting tools
- Ability to work independently in a start-up branch environment while collaborating across geographies and time zones.
- Integrity, ownership, and a proactive, solutions-oriented approach.

Why Join This Role?
- Shape and own end-to-end finance, reporting, and tax processes for a new, high-growth branch-with visible impact and direct exposure to senior leadership.
- Broaden your expertise across accounting, regulatory reporting, audit, and both direct and indirect taxation within a single role.
- Gain international exposure through close collaboration with the Singapore Head Office and the wider MS&AD; global network.
- Clear pathway for professional growth and increasing responsibility as the IIO scales its operations.

Due to the volume of applications received, we will only contact shortlisted candidates. We may retain your personal data for as long as it is necessary to fulfil the purposes for which they were collected, or as required or permitted by applicable laws. Should you disagree, please contact our Data Protection Officer - [email protected] for more information on the retention and disposal of your personal data.

📌 Finance Manager, GIFT City (Ahmedabad)
🏢 MS First Capital Insurance
📍 Ahmedabad