Group Company : Edelweiss Tokio Life Insurance Company Limited
Designation : Lead - Expense Management & Accounts Payable
Office Location :
Position description :
JOB DESCRIPTION
Basic Information
Position Title
AVP / Chief Mgr – Finance & Accounts
Internal Designation
AVP / Chief Manager-Finance
Job Role
Lead - Expense Management and quality assurance
Reporting to
VP-Finance
Sub LOB / Department
Finance
Location
Mumbai
Total Headcount (Direct) Supervised
Total Headcount (Direct / Indirect) Supervised
Job Purpose
- To effectively manage and supervise vendor Payments, Employee reimbursement, FA Module, Petty credit card, Corporate credit card, Expenses Variance (Monthly / Yearly) analysis, Outsourcing Report, Related Party schedule , Rent payouts and quality
Key Responsibilities
Responsibilities
Tor review and build control around accounting as well as payouts to Vendors & Employees.To controls, Monitor and timely closure of books of accounts including expense provision, advances, Incentive and Expenses VarianceTo effectively manage Fixed assets Register / CWIP & its accountingTo Control & Review of Corporate credit card settlement.To review & monitor branch level Petty credit cards issuance & Settlement AND employee reimbursement.To built Internal Mechanism to control or reduce process gaps & enhancement in system to smoothen the process.To coordination, Query handle & Data providing for limited review, Stat audit, internal audit and IFC audit.To Control Document management processes like scanning of financial vouchers, filing & binding of Accounting vouchers & other operational Activities.To review all the process of finance from quality assurance perspective and building controls around the same.Specific Authorities (Financial & Non Financial)
Not ApplicableKey Performance Indicators
Payment TAT adherence 98% (Vendor / Employee / P ’Card) = %Accounting entries closure & 1st cut of Opex excluding incentive to be provided by 2 working days of next month= 95% complianceMonthly Opex 1stcut within 3 working days of next month>TDS Compliance errorAccuracy in financial reporting for account heads and Analysiscodes (ErrorAccounting & Monitor Related party transaction. Monthly Reports to Financial reporting team for Validation = 0 ErrorSubmission of IRDAI Outsourcing Report before due date = %Monthly Variance analysis before 12th on month – % compliance.Job Requirements
Qualifications
CA / MBA – Finance
Experience
10-15 Years
Base skill
Understanding of organizational systems, process and products
Functional Competencies
Insurance Accounting skills - Knowledge of Insurance SectorOther Basic Accounting skills -Strong understanding of Accounting for Operating ExpensesSME Accounting standardsFinancial statements and reporting - Expert in Finance domain operational processes including Opex, Banking & Reconciliation (Payment & Collection)Treasury Management and ReconciliationRegulatory knowledgeBehavioral Competencies
Business AcumenCollaborationBuilding Talent & TeamExecution ExcellenceKey Interactions
Internal
Nature or purpose of interaction
Distribution Operations, Operations, Compliance, Actuary, Tax, IT, Marketing, HR, Investments, Admin, Legal & All Employees.
For the booking and accounting of expenses and payout related purposeRisk Team, Internal Audit
For risk related issues, IFC and Internal AuditExternal
Nature or purpose of interaction
Statutory Auditors , IRDAI Inspectors
For resolving auditors queriesBanking Vendor
For banking ( Payment & DD issuance) mattersIndustry Peers
For understanding the Industry practiceDocumented By
Finance Controller
Approved By
Chief Financial Officer
HR certification By
HR – BP
Primary Responsibilities :
Tor review and build control around accounting as well as payouts to Vendors & Employees.To controls, Monitor and timely closure of books of accounts including expense provision, advances,