Senior Manager- Finance
- Bandhan Life
- 5 - 7 years
- Mumbai
- 1 month ago
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Job Description
Role Summary:
To lead and manage the Accounts Payable (AP) function efficiently by ensuring timely and accurate processing of employee reimbursements, vendor payments, agent commissions, Fixed Asset and related compliance requirements. The role focuses on automation initiatives, monthly closing schedules, risk mitigation, tax compliance, and bank reconciliations for the Insurance business.
Key Focus areas:
Employee Reimbursement Management:
- Oversee validation and timely disbursement of employee travel, Business Meeting, and other expense reimbursements in compliance with company policies.
- Address employee queries and ensure SLA adherence.
- Accounting of Salary, FNF as per HR Salary Register
Vendor Payments:
- Ensure accurate processing of vendor invoices after validation of agreement, purchase orders, contracts, and service delivery.
Commission Payments:
- Manage periodic calculation, validation, and payment of commission to agents, brokers, and partners as defined guidelines.
Automation and Reporting:
- Drive automation of AP processes include invoice processing, reimbursement workflows, and reporting.
- Develop and deliver accurate and timely management reports, dashboards, and AP schedules for monthly/quarterly closing.
Monthly Schedules and Closing:
- Prepare AP schedules (aging reports, accruals, outstanding liabilities, etc.) for month-end and year-end closing.
- Ensure all entries are posted accurately to the general ledger, location, department and cost code.
Bank Reconciliation:
- Oversee daily and monthly bank reconciliations; investigate and resolve variances promptly.
Tax and Regulatory Compliance:
- Ensure accurate deduction and timely deposit of TDS, GST, and other applicable taxes related to payables.
- Coordinate with tax teams for reconciliations, filings, and audits.
Risk and Internal Controls:
- Identify risks in AP processes and implement mitigation measures.
- Ensure adherence to internal control frameworks, audit requirements, and compliance standards.
- Manage internal and external audits related to AP functions.
Fixed Asset Management
- Maintain the Fixed Asset Register in accordance with accounting standards and company policy.
- Oversee capitalization, retirement, transfer and disposal of assets
- Ensure accurate accounting of depreciation schedules and reporting for audits and regulatory requirements
Qualifications & Competencies:
Required Skills and Competencies:
- Strong technical knowledge of Accounts Payable, GST, TDS, and Insurance regulations.
- Expertise in Oracle ERP/SAP/other financial systems.
- Proficient in Excel, MIS reporting, and automation tools (Power BI, RPA, etc.).
- High attention to detail with strong analytical and problem-solving skills.
- Ability to manage large volumes, meet deadlines, and work under pressure.
- Excellent leadership, communication, and stakeholder management skills.
Qualification and Experience:
- Post graduate/ MBA Finance or equivalent.
- 5-6 years of relevant experience in Accounts Payable, preferably in the Insurance, BFSI, or large corporate sector.
- Prior experience in managing teams and AP automation projects is preferred.
Job Classification
Industry: InsuranceFunctional Area / Department: Finance & AccountingRole Category: FinanceRole: Finance - OtherEmployement Type: Full timeContact Details:
Company: Bandhan LifeLocation(s): Mumbai
Keyskills: Vendor Payments Bank Reconciliation Accounts Payable automation & reporting Tax Compliance Fixed Asset Management risk and internal controls
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Bandhan Life
One Diagnostics has established its presence in West Bengal, Assam, Bihar, Odisha, Jharkhand and Chattisgarh through over 250 collection points. By end of 2018 we aim at having around 1000 collection points with the addition of two more excellence centres.
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