Deputy Chief Manager - Accounts & Tax - BFSI

Job Purpose :

- The purpose of the role is to manage commission accounting and processes related to payouts to Channels including validation of payouts related to incentives and contests, build and implement robust internal checks and controls to avoid financial leakages & fulfill regulatory requirements, optimize advisor satisfaction through effective payout processes and timely resolution of queries, drive projects and initiatives of the commission team and optimize productivity/controls through increased automation.

Key Challenges for the role :

- Managing distributor satisfaction and volumes are given changing regulatory environments, different product lines, etc.

- Automation failures leading to a huge volume of manual processing from time to time

- Exceptions handling is driven by sales compulsions

- Reaching out to advisors spread over 25 locations

Principal Accountabilities :

- Ensure accurate accounting and timely payouts to advisors and sales channels leading to increased advisor delight.

- Ensure accurate accounting of payouts.

- Ensure speed, accuracy, and a robust mechanism for contest validation and payments.

- Engage with Distributors including advisors, corporate agents, and brokers to provide satisfactory services, query resolution mechanisms, and MIS, leading to increased advisor delight.

- Ensure accuracy, effective control, and a robust mechanism for computation of Sales Channel Incentives with proper validation and checks & balances mechanism.

- Introduce and develop robust MIS for management reporting.

- Build controls to minimize operational losses and the financial health of various accounts.

- Envisage and manage automation projects related to accounting operations and payout processes to improve TAT and error-free processes.

- Team Development

Job Purpose of Direct Reports - Team Member - Commission Payout :

- The role is responsible for ensuring timely & accurate commission payouts, statutory deductions are correctly and accurately accounted for in the books of accounts, all month-end closure activities are done within the specified timelines, and preparation of IRDA reports within the specified timelines.

- The role also undertakes checking of Reconciliation & Ageing of all commission accounts and Statutory payouts and record maintenance for TDS, Service Tax, Professional Tax, etc.