I've just started a new role (non-Director, but will be senior Finance head) at a small-ish (£4m t/o and growing) UK arm of a privately-owned international company, with HQ in the UK but shareholders overseas. The outgoing Group FD has given an indemnity, alongside the Group MD, to the UK Invoice Financier - they are personally liable for any amounts advanced against fraudulent invoices.
I performed a similar role previously for a VC-backed medium-sized company with IF and this was not required either of me or the (Director/Shareholder) Group FD.
I've got no equity in the company, am not a statutory or titular Director (unlike the outgoing GFD), and this was not discussed at interview or offer. I'm feeling a little backed into a corner right now...wanted to check if this sort of thing was at all normal / reasonable or not?
Thanks very much.