Executive (Finance) – Insurance Regulatory Commission

Executive (Finance) – Insurance Regulatory Commission

Job Overview

The Insurance Regulatory Commission of Sri Lanka (IRCSL) is inviting applications from qualified and motivated professionals for the position of Executive (Finance). This role is responsible for supporting financial operations, revenue management, treasury activities, budgeting, accounting, and financial reporting functions within the Commission.

Job Category: Finance, Accounting, Treasury, Regulatory Affairs

Position Details

Job Title: Executive (Finance)

Company: Insurance Regulatory Commission of Sri Lanka (IRCSL)

Location: Colombo, Sri Lanka

Job Type: Full-Time

Company Overview

The Insurance Regulatory Commission of Sri Lanka (IRCSL) is the statutory regulator of Sri Lanka’s insurance industry. The Commission plays a key role in ensuring financial stability, regulatory compliance, policyholder protection, and the sustainable development of the insurance sector.

Qualifications & Experience

Educational Qualifications

Applicants must possess:

• A Bachelor’s Degree from a recognized university in:
  • Accountancy
  • Finance
  • Business Administration
  • Commerce
  • Or a related discipline

OR

• A professional qualification equivalent to a Bachelor’s Degree in a relevant field from a recognized institution.

Experience

• Minimum 2 years of post-qualifying experience at Junior Executive or Executive level in a reputed organization.

Key Responsibilities

Revenue Management

• Collect revenue by issuing tax invoices for annual fees, registration fees, and renewal fees.
• Prepare source documents and cess collection records on a quarterly basis.
• Follow up on cheque realizations and coordinate registration and renewal fee collections.
• Reconcile annual fee and cess income with audited accounts of insurance companies.
• Prepare tax credit and debit notes where necessary.
• Issue receipts related to revenue collections.

Payment Management

• Assess and process supplier payments, employee emoluments, and tax payments.
• Verify supporting documents and ensure compliance with delegated authority levels.
• Process payments and allowances for foreign training participants.
• Reconcile payment transactions and related records.

Treasury Management

• Invest Commission funds by evaluating quotations and selecting suitable investment opportunities.
• Prepare daily, weekly, and monthly projected cash flow reports.
• Assist in preparing annual, quarterly, and monthly financial statements.
• Handle petty cash management and reconciliations.
• Assist in budget preparation and budget revisions.
• Maintain the Fixed Asset Register and depreciation schedules.
• Support external and internal audit processes.
• Prepare reports and financial documents as assigned by management.
• Provide assistance to procurement committees when required.

Required Skills

• Strong accounting and financial management knowledge.
• Excellent analytical and numerical skills.
• Sound understanding of treasury and cash flow management.
• Knowledge of budgeting and financial reporting procedures.
• Strong attention to detail and accuracy.
• Excellent communication and interpersonal skills.
• Proficiency in Microsoft Office applications, particularly Excel.
• Ability to work independently and meet deadlines.

General Requirements

• Applicants should be below 40 years of age at the closing date of applications.
• Age restriction is not applicable to Government Sector applicants.
• Experience or qualifications in insurance, finance, research, or regulatory institutions will be an added advantage.
• Excellent communication skills and strong computer literacy are essential.

Salary & Benefits

Gross Salary and Allowances (Per Month)

• Basic Salary: Rs. 156,050.00

Additional Benefits

• Annual performance-based incentive
• Leave encashment
• Outdoor medical reimbursement
• Comprehensive indoor medical insurance
• Life and critical illness insurance
• Personal accident insurance cover equivalent to 60 months of basic salary
• Vehicle and distress loan facilities
• Sponsorship for higher studies
• Reimbursement of subscription fees for one professional institution

How to Apply

• Complete and submit the prescribed application form through the official IRCSL recruitment process.
• Ensure all educational qualifications, professional qualifications, and work experience details are accurately provided.
• Only applications submitted through the prescribed application method will be accepted.
• Hard-copy and email applications will not be considered.

Application Deadline

30 June 2026

Company Overview

The Insurance Regulatory Commission of Sri Lanka offers a rewarding career environment for finance professionals seeking exposure to regulatory finance, treasury operations, and public sector financial management. Successful candidates will have the opportunity to contribute to the effective regulation of Sri Lanka’s insurance industry while enjoying competitive remuneration and attractive employment benefits.

Source :

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