Job Description

Designation: Manager/ Senior Manager Business Accounting

Location: Mumbai HO (Lower Parel)

Experience: 5 yrs+

Business accounting

- Understanding of the business and transaction processing, PAS accounting and managing the banking relationship is vital for this position

Business Accounting Initiatives :

- Contribution in business accounting in policy admin system (PAS)

- Contribution in process improvements

- Daily routine activities of Business accounting/Internal / Management reporting of Business accounting

- Arrangement of yearly data for GST Audit, GL wise, cumulative YTD reconciliation.

- Reconciliation and matching of unclaimed policy wise data with system data, financial statements.

- Proactive steps to reconciliation and coordination with IT for resolutions

- Regulatory/statutory submission for Unclaimed/checking/verification.

- Carry out user acceptance testing (UAT) in core policy admin system and ensure proper controls for financial transactions & provide timely sign off.

- Group-Asia GL setup/master related data in GA System, month end, yearend mock tests and production sign off

- GST reconciliation between Suntec & Elixir & Process of checking and providing sign-off on GSTR 1 and 3B

- Coordination with bankers, CMS services related documents, process compliance, collection, payment, net banking related matters, required documentation.

- Banking operation updation / Account opening / addition and deletion etc

- Monitor and resolve long outstanding, more than defined ageing- issues if any-collections/premium/unallocated premium

- Monitor long pending balances in Premium deposits and advance premium, resolve the issues if any

- Monitoring Business accounting activities, Monitor collection process, accounting and reconciliations, exception handling, commission accounting, processing, payments and reporting

- NIL excess pay outs, monitor recovery if any, highlight process breach, proactive action to avoid process breach/regulatory breach

- Timely submission of monthly reconciliations, reasons for reconciliations and matching with financials, Financials, statutory, regulatory reporting/supporting

- SOP updation- business accounting to be Complete and Upload on portal

- Monthly policy wise data submission to FR team, reconciliation with PAS and Oracle. i.e. Premium Schedules, commission, deposits, unclaimed, claims etc

- Reconciliation GST on ulip charges working for financials -FR team and tax team -identify the differences and resolve through IT.

- Monitor payment processing, timely pay outs, monitor exceptions and fix the process gaps to avoid exceptions

- Year-end Trial balance roll over activity-PAS, Elixir, Group Asia, EDM, suntech

Audit and Compliance :

- Handle various audit requirements internal/statutory/IFC/regulatory etc.

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