Deputy Chief Manager - Accounts Payable

Job Purpose
Responsible to monitor & authorize the entire payment process and manage statutory commitments - payment, return filing, certificate submission to the statutory bodies. Ensure accurate accounting of expenses in the financial statements of the company & fulfil all audit deliverables.
Job Context & Major Challenges
Aditya Birla Money Ltd. (ABML) is primarily a Broking Company, deals in Equity, Commodity & Currency. Workforce of ~800 spread across ~40 locations with customer base of in excess of 3 lacs. Commodity operations are managed through its 100% subsidiary Aditya Birla Commodities Broking limited. ABML is one of the leading securities trading companies in the country. ABML operates in a fragmented equity broking business and has a daily turnover of close to 3,000 Crores with a market share of 1%. ABM works in a highly regulated environment with a host of regulators like SEBI, RBI, AMFI, FMC, IRDA etc. regulating its day to day operations. In addition to the regulator ABML is also subject to close monitoring and inspection through various agencies like NSE / BSE / NCDX / MCX / NSDL / CDSL etc. ABML also operates in a highly competitive market mainly in fragmented industry with ABML competition from major National Broking houses like ICICI Securities, HDFC Securities, Angel Broking, MOFSL etc. and a range of local Broking outfits.
Job Context
Job holder is responsible to validate the payment processing and release payment – vendor payment + business pay-out + employee reimbursements.
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.
Major Challenges
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. Execute the plan of activities as per timelines.
Make automation initiatives a continuous process and implement the same.
Critical Skill Sets That This Profile Requires Are
The critical skill sets required to meet these challenges are subject knowledge, process-orientation, and problem decoding skill, detail & result orientation, analytical & communication skills, organizing and multitasking skills.elopers for managing change during the UAT and post implementation phase. Impact Analysis of the ‘Change Requests’ on the system and follow up on bugs. It also includes Version up gradation and Product enhancement as and when required.
Product Support: Product support involves a series of activities which includes Providing Technical and Functional assistance to Internet clients throughout the trading hours and having a dedicated customer care desk for handling all types issues/queries.
Job Challenges
Key Result Areas
KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)
KRA1 Payment processing
Fund management and arrangement for release of payment.
Verify & validate business payout calculation as per approved schemes, accurate & timely release.
Responsible to monitor & verify Vendor payment requests and related Accounting entries.
Authorize payment for the approved expenses and ensure no double payment, excess payment and ensure strict adherence to the process.
Verify & validate Operations Accounting entries pertaining to BP activities.
Monitor JVs, Provision entries & capital expenditures.
Statutory payments of PF, ESI, LWF, GST, TDS are released on time and evidence maintained for documentation purpose.
Expense Provision for Monthly, Quarterly & yearly Book Closure.
Periodic 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.
MIS & Dashboard on BP payout
KRA2 Audit & Statutory compliances
Audit plan to be drawn for every quarter LR and internal audit & yearly statutory audit and to be executed as per timeline set.
Handle exchange inspections and provide data.
NW certificate to be provided timely to the Regulators.
PMS audit certificate to be facilitated to PMS clients.
KRA3 Product Support Providing support to the clients includes both Technical and Functional Assistance of Trading. When a new product is launched or some up- gradation has been taken place in a product, ensures that clients are all aware of the changes by providing Product Demos to the PAN India Branches, providing a support desk for all clients/branches, sending mailers/teasers etc.
KRA4 Exchange Compliance regarding IBT Submitting the IBT Trade/Volume confirmation in NSE and BSE.

Work arrangement
No