Assistant Manager – Treasury & Bank Reconciliation

Job title: Assistant Manager – Treasury & Bank Reconciliation

Company: Tata Group

Job description: A Position Overview Position Title Asst Manager Department F&A Level / Band Role Summary: Managing Collections Team management Dealing with Banks Stakeholders management Dealing with Auditors Driving automation and new collection avenues B Organizational Relationships Reports To Senior Manager F&A C Job Dimensions Geographic Area Covered Corporate & Zonal Level Depts. Stakeholders Internal All departments External Auditors, Banks, Collection Vendors etc. D Key Result Areas Area Details Review high cost premium collection avenues and TAT monitoring 1. Review and bring down the unit cost of high charge collections avenues. 2. Ensure correct provision of Cost of Collections on a regular basis thereby no over/ under provision of expenses 3. Table the cost of collections and ensure it is in line with the agreements and no extra cost has been levied by the bank without required approvals 4. Ensure credit of all collections as per agreed TAT. Review collection TAT reports and do RCA and take required action to close the gaps between actual TAT and agreed TAT Bank Reconciliation 1. Ensure timely review of bank reconciliation for all the bank accounts held by the company and timely clearance 2. Timely action on the open items and seek explanation from the bank as well as internal stakeholders. 3. Rigorous follow up with respective ZOAD-s/operations team to ensure NIL open item more than 30 days in collection bank accounts. 4. Ensure NIL open items in disbursement banks accounts except cheque issued but not cleared. 5. Ensure NIL exposure in Annex 1 and Annex 3 Explore new collection avenues and completion of related activities 1. Explore new collection avenues to increase reach and reduce time along with ensuring the proposals are cost effective. 2. Ensure timely closure of agreements, Banking MIS, BRS auto recon logics, flow of transactions in BRS and other related activities for new collection/ payment avenues introduced. Ensure all the collection agreement are duly renewed on the time and are live at any point of time. Enable Cash Management services for New Open Locations 2. Enable cash management services at all new offices planned to be opened by the Company as per project plan and timelines’ TAT monitoring & Query resolutions 1. Set process of monitoring customer query resolution and ensure agree resolution of queries from agents or policyholders or internal stakeholders within agreed internal TAT-s by leveraging automated BRS module Automation of manual processes and process improvement 1. Periodically review the process & initiate & complete for automation for manual processes and improvement of process within timeline Employee Development 1. Identification of bench strength for each process ensure development of the bench strength and timelines by which the resource would be capable of handling the role, 2. providing technical and professional support to the team for their overall development 3. Identifying the training need and providing the necessary support by way of training/ counseling Control environment to ensure nil observations in Stat/Internal/IFC audit 1. Ensure all the processes are documented and relevant SOP-s are updated as and when required. Ensure for Nil observation in Internal, Statutory, IFC & ISO Audit 2. Ensure periodic review of the processes and ensure adequate corrective/preventive action plan for continuous improvement and risk mitigation.’ Dashboard and other reports 1. Ensure monthly preparation of Dashboard and table the same with the Management 2. Highlight key issues giving a perspective about the functional activity, achievements, misses and challenges 3. Ensure to provide reports i.e. Unclaimed, Form A etc accurately & on timely basis E Competencies Competency For Proficiency Scale Proficiency Scale Description Demonstrating extraordinary levels of energy and effort that result in high performance delivery through systems and processes, with the flexibility and openness to respond to change as a result of business plan and regulatory guidelines. 3 Creates a high performance work climate for individual and teams to deliver. Empowers team members to champion continuous improvement. Empowers team members to propose approaches to develop new performance standards and build systems and processes to reduce TAT and cost. Makes changes to meet the evolving needs of organization, stakeholders, and shifts in external markets, industry, government policies, etc. Works with a diversity of situations, people and groups and adapts to a change in direction, objectives and strategy. Articulates a vision for operational excellence, including the strategic, long-term management of finance and people. Ensures that the business strategy & objectives are constantly aligned to the changes in the business environment to maximize delivery of value. Makes changes in the team culture or focus of the function to improve operational excellence and organizational success. Aligns metrics, job responsibilities, information and systems to desired behaviors with strategy and organizational performance. Rewards and recognizes effort accepts failure with an understanding that it often precedes success. Helps others generate and identify breakthrough ideas, fresh perspectives and new opportunities. Develop, maintain and strengthen relationships with internal and external stakeholders by working horizontally as well as vertically within organization and external partners with the goal to create a win – win relationship at work and achieve the business outcomes. 3 Empathizes & supports team members in every possible way & voices ones views on own or related areas of work. Says or does things to address others’ concerns makes others feel comfortable by responding in ways that convey interest in what they have to say. Uses high degree of tact and influencing skills in working with others. Models and exercises sound judgment regarding personal conduct. Maintains stable performance and emotional control when faced with opposition, pressure, hostility from others and/or stressful conditions. Demonstrates appropriate and professional behaviour at all times. Uses networking, judgement and engagement at a strategic level to identify and build relationships with partners and stakeholders to support long term business development. Focuses on building long term partnerships with external partners to increase operational efficiency. Encourages feedback on effectiveness of own function & promotes a climate of openness & trust. Work cooperatively with peers, team members, and/or others to set responsibilities. Share information and solicits ideas and suggestions from others to accomplish mutual goals. Shows genuine concern for the needs and wants of internal and external partners. Promotes, rewards and sustains collaboration to get support and influence others. Ability to align with the organization-s vision with a fair understanding of the financial processes, Insurance industry regulations and financial markets in order to deliver profitable and sustainable business growth. 3 Reviews and works towards productivity enhancements and meet the financial budgets. Has an in-depth knowledge of insurance industry, financial markets and regulations and the market of operations. Understand how and to what extent business complexities impacts one-s own area of work. Is able to identify trends and analyze performance of the business which will impact the profitability and viability. Has an expert knowledge of Finance and Accounting and uses it to deliver superior performance. Proposes changes if required as per company performance and industry dynamics. Regularly shares knowledge with the team and helps them connect to the big picture. Conceptualizes the function strategy on a national level with a focus on profitability and viability of the business. Drives the philosophy of the function and proposes initiatives aligned to it. Keeps track of long term changes in the internal and external business environment and recommends course of action to the Senior Management. Aligns the functional goals with the macro picture to achieve the business Vision. Builds benchmarks into policies and practices to ensure effectiveness of the F&A processes without comprising profitability. Keeps abreast of cutting edge developments in own field and creates competitive strength by deploying expertise in specific areas. Is regularly updated with the changing regulations and proactively cascades the information within the team. Encourages and coaches team to stay updated on the key business imperatives impacting the business. Displays a wide range of considerations and perspectives to a particular situation by analyzing facts, data and scenario based insights to enable a logical, well-reasoned and informed decision – making process. 3 Ability to distinguish between situations and the need for information and reasoning. Able to provide multi-perspectives to a situation, including aspects others may have missed. Ability to analyze the information gathering and reporting process by reviewing trends and predicting the outcomes. Able to report and identify areas that need guidance in order to resolve complex issues. Thorough understanding of knowledge and skills sets required to excel within the function in order to build a business model leading to sustainable growth for Customers and consumers. 3 In-depth understanding and knowledge of the business performance and its impact on the organization. Understanding and ability to prepare standard reporting as per regulatory requirements. Able to evaluate the profitability and viability of the business performance to the management vis a vis competition. Able to recommend policy changes as per changes in the regulations impacting financial transactions. Shares regular updates with the team members to equip them with the relevant information on business performance. The ability to analyze data and use knowledge/experience to make decisions in a structured manner based on logical assumptions and factual information, in line with the set regulations and guidelines. Identifying problems and providing solutions by developing a course of action taking into consideration resources, constraints and organizational guidelines, regulations & values. 3 Considers and analyzes the impact of the situation, resource constraints and organizational guidelines on the results to make informed decisions. Can anticipate obstacles and put in place action plans to overcome the same. Uses structured thinking, evaluates alternatives and makes recommendations based on awareness of markets and business opportunities. F Skills Required Technical Behavioral (Refer Appendix for details) Essential Desired Interpersonal skills Yes Communication skills Yes Creative thinking skills Yes Supervising/Leadership skills Yes Teamwork Skills Yes Influencing skills Yes Relationship Building skills Yes Decision making skills Yes SAP, MS office, Analytical skills Yes F Incumbent Characteristics Essential Desired Qualification Postgraduate Experience Minimum 5 years in Insurance industry in this profile

Expected salary:

Location: Thane, Maharashtra

Job date: Sun, 12 Mar 2023 07:17:11 GMT

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