Senior Manager - Accounts Payable

Position / Job Title (Proposed)Section Head - Accounts Payable

Designation

Manager

Function

AccountsDepartmentAccountsReporting To(Title)HOD - ACCOUNTSSuperior’s Superior(Title)CFO

• Job Purpose
  

To be responsible for monitoring

& authorize the entire payment process

of the company and ensure funds of the Company are used only for the specific approved purpose.Responsible

for data security and 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 ALL

audit deliverables

and assure smooth completion of audit and ensure expenses accounting reflect accurate in the Financial statements of the Company.

• Dimensions:
  

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

• Responsible to verify and authorize
• Vendor payments.
• Employee reimbursements,
• Business payout
• Payment and ensure accounting entry in Books of Accounts.
• Responsible for BRS – 14 banks.
• 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.
• Statutory payments of PF, ESI, LWF, GST, TDS are released on time and evidence maintained for documentation purposes.
• Tax compliance of all payment related entries and ensure no payment is released without deducting TDS.
• Appropriate tax rate to be applied for tax with-hold.
• Expense Provision for Monthly, Quarterly & yearly Book Closure.
• End – end – responsible for Data collation to meet Auditors requirement.
• Verification of Sales team Incentive workings and booking expense booking.
• Quarterly LR audit plan to be split into monthly and data collection from other departments.
• Quarterly Vendor Ageing Analysis & GL review.
• Drive automation initiatives as a regular process and implement once the automation is through.
• Diplomatic query handling and no inappropriate message to be communicated in the reply.
• Every process is to be documented by way of SOP – approved by HOD.
• Fund management and arrangement for payment release.
• 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 to validate the payment processing initiated by the maker and release payment – Vendor payment + Business pay-out + Employee reimbursements.
Next major job is 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.Periodic MIS to internal and external stakeholders and query handling pertaining to the same.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 major challenges are even distribution of time to meet various payment requests that come up for release simultaneously. Explain the type of data requirement, consolidate it in required form and provide to auditors within timeline. Making the Branch managers and executives interactive and to adhere to the process is also a challenge to be overcome.Execute the plan of activities as per timelines.Make automation initiatives a continuous process and implement the same.

• Principal Accountabilities
  

AccountabilitySupporting ActionsAudit co-ordinationAudit 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.Payment releaseAuthorize 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

&

Incentive

calculation as per approved schemes, accurate & timely release.AccuracyPeriodic 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 the 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.
• GL Reconciliation.
• 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
  

Automation initiatives

• Constant drive automation plans and co-ordinate with IT to make it live.
• Job Purpose of Direct Reports
  

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.