Deputy Chief Manager - Accounts Payable

1) Job Purpose

Responsible for accounting for Expenses as per Accounting Standards requirement and ensure correct reflection in the Financial Statement of the Organization.

Monitor & manage the end-to-end payment process covering the registered BP, registered vendor, approved clients, relevant Regulators and Employees of the Company.

Own the responsibility to ensure funds of the Company are used only for the specific approved purpose.

Responsible for Data security, maintain confidentiality of sensitive information of the Company.

Responsible to comply all statutory commitments by all means payment, return filing, certificate submission to the statutory bodies.

To co-ordinate end-to-end for audit deliverables and assure smooth completion of audit and ensure expenses accounting reflect accurate in the Financial statements of the Company.

Prepare and circulate adequate MIS reports to Management and Stakeholders to ensure transparency in Accounting and Payment processing.

2) Dimensions: Mention quantitative or qualitative parameters that are relevant for the job and provide a better understanding of the scope and scale of the job.

Business Workforce Number

Unit Workforce Number

Function Workforce Number

Department Workforce Number

11

Other Quantitative and Important Parameters for the job: Budgets/ Volumes/No. of Products/Geography/ Markets/ Customers or any other parameter

1. Responsible to check computation, verify and authorize
• Vendor payments.
• Employee reimbursements,
• Business payout
2. Accounting & Payment entries are passed in Books of Accounts as per Accounting Standards.
3. Responsible for BRS – 14 banks.
4. Information Security & Confidentiality of sensitive data to be maintained and it is the responsibility of the job holder to ensure a process is in place for the same.
5. Statutory payments of PF, ESI, LWF, GST, TDS are released on time and evidence maintained for documentation purpose.
6. Tax compliance of the Expense Accounting & payment entries are to be checked to ensure no payment is released without compliance to TDS.
7. Appropriate tax rate to be applied for tax with-hold.
8. Expense Provision for Monthly, Quarterly & yearly Book Closure.
9. End – end – responsible for Data collation to meet Auditors requirement.
10. Quarterly LR audit plan to be split into monthly and data collection from other departments.
11. Quarterly Vendor Ageing Analysis & GL review.
12. Drive automation initiatives as a regular process and implement once the automation is through.
13. Diplomatic query handling and no inappropriate message to be communicated in the reply.
14. Every process is to be documented by way of SOP – approved by HOD.
15. Fund management and arrangement for payment release.

3) Job Context & Major Challenges

(What are the specific aspects of the job that provide a challenge to the jobholder in the context of the Unit/Zone?

Job holder is responsible for passing accounting entries pertaining to Expense Accrual for an accounting period correctly and as per accepted IndAS.

Responsible to check and validate the payment processing initiated by the maker and release payment – vendor payment + business pay-out + employee reimbursements.

Estimate the provisions for accounting Expenses & Variance reasoning.

Timely MIS with Vertical level Expense allocation.

Audit co-ordination, being listed entity ABML is subject to quarterly LR audit. Audit plan to be drawn on discussion with functional owners and ensure smooth completion of audit by providing data for 3 months in the limited audit time.

Ensure timely payment without escalations

Certificates and Reports in prescribed form to be submitted to Exchanges and other Regulators.

Responsible for reconciliations, ledger reviews, initiate automation requests, preparing data dump to meet MIS requirements.

The excellent control and skill levels required to time-plan the activities, work allocation amongst the work group, timely release to avoid complaints, ensure accounting correctness simultaneously. Explain the accounting reports to the auditors and get audit clearance within timeline. Maintain rapport with Branch & Franchisee managers and executives to make them adhere to the process.

Make automation initiatives a continuous process and implement the same.

4) Principal Accountabilities

Accountability

Supporting Actions

Accounting

Accounting entries for Expense Accrual. Expense statement to reflect the correct Spent status as per accepted IndAS.

Payment release

Authorize payment for the approved expenses and ensure no double payment, excess payment and strict adherence to the process.

Responsible to monitor & verify Vendor payment requests processed by the maker and related Accounting entries.

Checker for Business payout calculation as per approved schemes, accurate & timely release.

Accuracy

Periodic review & scrutiny of the ledgers by way of verification, DoA check, tax compliance, budget, book entry, actual payment release, bank instruction and investigate any abnormal ageing balances and initiate corrective action. Agreed TAT to be maintained.

To complete accounting and payment activities for timely closure of books of accounts – monthly.

• To approve for accounting and release of all payments as per DOA. Review DOA at periodic intervals with input from all concerned department heads.
• Monitoring JVs, Provision entries & capital expenditures.
• MIS & Dashboard on BP payout and circulate to stake – holders.
• Check the Operations Accounting entries pertaining to BP activities.

Statutory compliances

• Handle exchange inspections and provide data.
• NW certificate to be provided timely to the Regulators.
• PMS audit certificate to be facilitated to PMS clients.
• Query handling of all stake holders – internal & external

Audit co-ordination

Audit plan to be drawn for every quarter LR and internal audit & yearly statutory audit and to be executed as per timeline set.

Call for discussion with other departments, explain audit plan, and get data delivered to auditors as per their standards.

5) Job Purpose of Direct Reports

Responsible to Account the Expense accrued for the accounting period and ensure financial statement reflects the correct Expense side of the Company.

Responsible to calculate payouts for Franchisee partners, Direct Selling Agents, Branch Sub-brokers get is approved from reporting manager and process payment after accounting in Books.

Responsible to collect, verify, check approval, account and process payment for Employee reimbursements – mobile, travel, conveyance, business promotion expenses.

Head office & Branch Expense management – verify approval, budget, correctness and release payment on timely basis.

Business Partner Operational accounting – full and final settlement and exceptional payment.

Submission of Statutory certificates to Regulatory & Auditors.

Scrutinize Books of Accounts and ageing analysis report.

6) Relationships (If Applicable)

Internal

Frequency

Nature

1. Other Depts.

2. Head Accounts

3. Branches

1. Daily

2. Daily

3. As & when

1. Day to day activities

2. For issue matters & MIS.

3. Query Clarification

External

Frequency

Nature

1. Vendor

2. Auditors

3. Statutory

As & when

As & when

As & when

1.

1. Query clarification & follow up.

2. Query clarification & data providing.

3. Report submission & inspection.

7) Organizational Relationships

The Section head - Expense Accounting & Payment Processing manages below activities and reports to HOD – Finance, Accounts & Central MIS.

1. Vendor payout (on-roll 2)

2. Employee Claims Reimbursement (On-roll 1 & Consultant 1)

3. Business Partner Payout (on-roll 1)

4. MIS & Report Management. (on-roll 1)