Senior Manager - Accounts Payable

• 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