- Ensure accurate and timely authorization of all company payments, including vendor payments, business payouts, and employee reimbursements.
- Maintain strict compliance with statutory and regulatory requirements such as PF, ESI, LWF, GST, TDS, and timely filing of returns and certificates.
- Protect the confidentiality and security of sensitive company financial data through robust internal controls and SOPs.
- Coordinate end-to-end audit activities including statutory, internal, limited review audits and ensure timely submission of accurate audit deliverables.
- Ensure expense accounting aligns with financial statement accuracy and support monthly, quarterly, and annual book closures.
Dimensions
- Responsible for verifying and authorizing:
- Vendor payments
- Employee reimbursements
- Business payouts
- Accountable for maintaining accurate entries in the Books of Accounts for all payments.
- Bank Reconciliation Statement (BRS) management across 14 bank accounts.
- Ensure timely and compliant statutory payments: PF, ESI, LWF, GST, TDS.
- Guarantee TDS deduction and correct tax rate application before payment release.
- Responsible for data gathering and reporting for auditors and regulatory submissions.
- Review of incentive calculations and associated expense booking.
- Conduct quarterly vendor ageing analysis and general ledger reviews.
- Drive process automation and document all procedures with SOPs.
- Coordinate fund arrangements and ensure timely release of payments.
- Uphold information security standards related to financial data.
Job Context & Major Challenges
- Validation and release of all payments initiated by the maker.
- Manage audit coordination across departments to meet quarterly limited review timelines.
- Ensure timely delivery of data and reports to internal/external stakeholders and regulators.
- Create audit plans, coordinate data requirements, and consolidate inputs across departments.
- Handle simultaneous payment requests while adhering to compliance and accuracy standards.
- Engage with branch managers and business executives to ensure process compliance.
- Execute activities within prescribed timelines and drive automation on a continuous basis.
Principal Accountabilities
Audit Coordination
- Create and execute quarterly audit plans (Limited Review, Internal Audit) and statutory audit as per schedule.
- Organize department discussions to communicate audit requirements and standards.
- Provide data to auditors and ensure accuracy and completeness.
Payment Release
- Authorize payments after thorough validation, ensuring no duplication or excess payments.
- Act as checker for business payouts and incentive calculations based on approved schemes.
- Ensure compliance with Delegation of Authority (DoA) and track accounting entries.
Accuracy
- Periodic ledger review and scrutiny of DoA, tax compliance, budget adherence, and actual vs. book entries.
- Investigate abnormal ageing balances and initiate corrections.
- Ensure monthly accounting closure and timely payment processing.
Statutory Compliance
- Handle statutory and exchange inspections, ensuring timely submission of NW certificates and PMS audit reports.
- Ensure compliance with all tax regulations and accurate documentation for audits and inspections.
Automation Initiatives
- Collaborate with IT to implement automation initiatives and streamline financial processes.
- Make automation a continuous improvement objective and update documentation accordingly.
MIS & Reconciliations
- Monitor JV entries, provisions, capital expenditures, and GL reconciliations.
- Generate MIS & dashboards for business payouts and share with stakeholders.
- Ensure proper operational accounting entries and reconciliation.
Job Purpose of Direct Reports
- Calculate and process franchisee, DSA, and sub-broker payouts.
- Verify, approve, and account for employee reimbursement expenses.
- Manage expense approvals and payments for head office and branch operations.
- Process final settlements and exceptional payments for business partners.
- Submit statutory certificates to auditors and regulators.
- Analyze books of accounts and aging reports to ensure financial accuracy
