Job Purpose

processing DSF Agent's Commission Payout by ensuring completeness of all pre payout activities,
Calculation of Shortage of Commission, PAN holds payout in twice in week, upload Advisor details Statement in CMS.
Passing payout as well as relevant month end accounting entriesin Oracle for Financial closure.

Job Context & Major Challenges

Job Context: processing DSF Agent's Commission Payout by ensuring completeness of all pre payout activities,

Calculation of Shortage of Commission, PAN holds payout in twice in week, upload Advisor details Statement in CMS.
Passing payout as well as relevant month end accounting entriesin Oracle for Financial closure.

Job Challenges:

System Constraints – Managing various recovery adjustments outside the system as a manual process
Giving effect of new Commission related provisions brought in place in each payout manually before the same gets automated in CMS

Key Result Areas

KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)

KRA1 Processing of agents commission payout on Fortnightly basis to ensure accuracy and timeliness.

(2 Payouts in each month) 1. Calculation of DSF Advisor Commission payout for each Fortnight (2 Payouts in each month) within the agreed time line.

Upload the 99 & 98 Entries in CMS before Payout to ensure accuracy of payout.
RBRC Hold & Release of Terminable Agents as per Company's payout policy.
Deemed Credit Hold & release as per Company's payout policy.
Updation of 15AA Cases to ensure proper credit of exemption from TDS is given to advisors.

KRA2 Processing of agents commission payout on Fortnightly basis to ensure accuracy and timeliness.

(2 Payouts in each month) 6. Calculation of TDS & Service Tax as per the statutory guidelines for Commission Payouts.

Pass the necessaries entries in Oracle for accurate accounting.
Preparing the proper Intimation to Banks for Direct Credits/NEFT as per Agent Bank Master
Preparing the various Payout related Reconciliations to ensure the accuracy of payouts
Keeping track of various recoveries and ensuring the same are done in fortnightly payouts.

KRA3 Calculate of Shortage Commission to ensure due credit is given to advisors. 1. Calculation of Shortage of Commission & upload in CMS.

Pass the entry in Oracle System.

KRA4 Upload and validate Advisor's Commission Statement fortnightly in CMS for accurate generation of statements. 1. Upload the details statement of Surrender Adjustment & Refund

Upload the TBR Refund
99 recovery details statement.
Cross check the Advisor CMS Statement with Pre & Post Payout files.

KRA5 Ensure Monthly Accruals & Analysis of all DSF accounts to ensure timely and smooth monthly financial closure process. 1. Pass the Service Tax Accruals entry

Pass the TDS Entry
PB & RB Booking Entry
Input Credit Entry
Carry out Commission Premium analysis on a monthly basis

KRA6 Process payment of commission of hold commissions due to NEFT 1. Release the payment once in a fortnight

Preparing proper Intimation to Banks for Direct Credits as per Agent Bank Master.

TM- Accounts and taxation