Manager - Accounts

Manager - Accounts

Industry: Non-Banking Financial Company (NBFC)

Department: Finance & Accounts

Designation: Manager - Accounts

Experience: 8-12 Years, preferably 10 years in NBFC/Financial Services

Reporting To: Head - Finance / CFO / Senior Management

Location: THRISSUR

1. Job Purpose

To manage and supervise the Finance & Accounts function of the NBFC, ensuring accurate accounting, timely financial reporting, statutory and regulatory compliance, effective financial controls, reconciliation of books and operational accounts, and coordination with auditors, banks, regulators and internal departments.

Responsibilities

A. Financial Accounting & Reporting

• Supervise day-to-day accounting operations and ensure proper accounting of all financial transactions.

• Ensure accurate maintenance of General Ledger, Sub-ledgers, Cash Book and Bank Book.

• Prepare monthly, quarterly and annual financial statements and MIS reports.

• Review Profit & Loss Account, Balance Sheet, Trial Balance and schedules.

• Ensure proper accounting of interest income, interest expenses, processing fees, penalties, provisions and other NBFC-related income/expenses.

• Monitor branch-wise and product-wise accounting and financial reporting.

• Ensure timely closure of monthly and annual books of accounts.

B. NBFC-Specific Accounting

• Monitor accounting related to Gold Loans, Vehicle Loans, Mortgage Loans, NCDs and other lending products, as applicable.

• Ensure proper recognition of interest income and other charges.

• Review loan-related accounting entries, interest accruals and income recognition.

• Monitor provisions, write-offs, recoveries and bad debts.

• Coordinate with operations/credit/recovery teams for reconciliation of loan-related accounts.

• Review branch cash balances, collections and remittances.

• Ensure proper accounting and reconciliation of customer collections.

C. Bank & Branch Reconciliation

• Review daily/monthly bank reconciliations.

• Monitor outstanding entries and ensure timely clearance.

• Supervise branch-wise reconciliation of collections, disbursements and expenses.

• Identify accounting discrepancies and coordinate with concerned departments for rectification.

• Monitor inter-branch and inter-company transactions, wherever applicable.

D. Regulatory & Statutory Compliance

• Ensure timely compliance with applicable RBI/NBFC accounting and reporting

Qualifications

Essential:

CA Inter / CMA Inter / M.Com / MBA Finance / equivalent

requirements

.

• Coordinate preparation and submission of applicable regulatory returns.

• Ensure compliance relating to GST, TDS, Income Tax, PF, ESI and other applicable statutory

requirements

.

• Coordinate with statutory auditors and ensure timely submission of required schedules and information.

• Maintain proper documentation and records for statutory and regulatory inspections.

E. Audit & Internal Control

• Coordinate with Statutory Auditors, Internal Auditors and Tax Auditors.

• Prepare audit schedules, supporting documents and financial data.

• Ensure timely closure of audit observations.

• Strengthen internal financial controls and accounting procedures.

• Identify accounting risks, control weaknesses and process gaps.

• Ensure compliance with company policies and approved financial procedures.

F. Budgeting & MIS

• Assist management in preparation of annual budgets.

• Monitor actual expenditure against approved budgets.

• Prepare management MIS covering:

• Revenue and expenditure

• Branch profitability

• Product-wise income

• Interest income and expenses

• Collection and recovery-related information

• Outstanding receivables/payables

• Cash and bank position

• Cost analysis

• Provide financial analysis and reports to senior management for decision-making.

G. Team Management

Supervise and guide the Accounts team.

Allocate

responsibilities

and monitor work completion.

Review the accuracy and quality of accounting work.

Conduct periodic performance reviews of team members.

Train employees on accounting procedures, controls and compliance

requirements

.

Ensure proper segregation of duties within the Accounts function.

H. Vendor, Expense & Payable Management

Review vendor bills, employee claims and administrative expenses.

Ensure proper authorization and accounting of expenses.

Monitor accounts payable and outstanding liabilities.

Ensure timely statutory deductions and payments.

Review recurring expenses and identify opportunities for cost control.

1. Key Performance Areas (KRA)

KRA

Key Performance Indicator

Financial Accounting

Accuracy and timely completion of accounts

Monthly Closing

Timely month-end closing with minimum adjustments

Bank Reconciliation

Timely reconciliation and clearance of outstanding items

Branch Reconciliation

Accuracy of branch-wise financial reconciliation

NBFC Accounting

Correct accounting of interest, fees, provisions and loan transactions

Statutory Compliance

Timely and accurate statutory payments/returns

RBI Compliance

Timely and accurate applicable NBFC regulatory reporting

Audit

Timely completion and closure of audit

requirements

MIS

Accuracy and timely submission of management reports

Internal Controls

Reduction of accounting errors and control deficiencies

Team Management

Productivity and discipline of Accounts team

Budget Control

Monitoring expenses against approved budget

1. Educational

qualification

.

Preferred:

Qualified CA / CMA or equivalent professional

qualification

.

Additional certification in accounting, taxation or financial management will be an advantage.

1. Experience

8-12 years of relevant experience, preferably around 10 years in an NBFC, housing finance company, financial institution or banking sector.

Strong experience in NBFC accounting, financial reporting, audit and statutory compliance.

Experience in managing an Accounts team is preferred.

1. Technical Skills

Strong knowledge of accounting principles and financial reporting.

Good knowledge of NBFC accounting practices and RBI regulatory

requirements

.

Knowledge of GST, TDS, Income Tax and other statutory compliances.

Strong Excel skills, including Pivot Tables, VLOOKUP/XLOOKUP and financial analysis.

Experience with ERP/accounting software.

Ability to prepare and analyse financial statements and MIS.

Good reconciliation and analytical skills.

1. Behavioural Competencies

Strong attention to detail and accuracy.

Integrity and confidentiality.

Leadership and team-management skills.

Analytical and problem-solving ability.

Good communication and coordination skills.

Ability to work under deadlines.

Strong ownership and accountability.

Ability to coordinate effectively with auditors, banks, branches and senior management.

1. Authority & Accountability

The Manager - Accounts will be accountable for:

Accuracy of books of accounts.

Timely financial closing and reporting.

Compliance with applicable statutory and regulatory

requirements

.

Proper reconciliation of branch, bank and customer-related accounts.

Effective financial controls.

Timely completion of audit

requirements

.

Accuracy of management MIS.

Proper supervision and performance of the Accounts team.

1. Preferred Candidate Profile

A candidate with approximately 10 years of hands-on Accounts/Finance experience in an NBFC, having strong exposure to loan accounting, branch accounting, financial reporting, bank reconciliation, statutory compliance, audit coordination, RBI-related reporting and team management, would be preferred