EXECUTIVE I - ACCOUNTS (Customer Accounting)

Role Identifier

Job Title

Executive – Accounts (Customer Accounting)

Department

Accounts

Reporting to

Manager - Accounts

Grade

N/AS or A/AS or A/SA or N/SA

Jobs Reporting Into

Nil

Location/Unit

Mumbai, Corporate Office

Role Description

Job Purpose

Ø Handling Customer Accounting and Group Company transaction related activities.

Primary Responsibilities

Business Responsibility Areas

(Please detail out at least 8-10 responsibility areas)

Key Performance Indicators

1. Recovery from Group Companies

- Ensuring timely and accurate recovery of various expenses from Joint Ventures and Subsidiaries

- Monitoring Related party transactions and ensuring that they are within the overall limits as approved by the Board

- Ensure that collections are received on timely basis by sending timely information of due invoices to related parties.

- Reporting approval vs actuals on a monthly basis

- Intercompany reconciliation

- Work with IT in building the IT controls for complying with the provisions of Companies Act / Listing Agreement w.r.t. RPT:

2. Debtors

- Preparation of debtors and analytical review of the same at business area level

- Identifying key risk parameters for potential identification of customer defaults and highlighting it to sales team.

- Preparation of provision for doubtful debts working as per provision policy and reasoning of the same from respective regional managers

- Interaction with Legal team and sales team for identification of customers and initiating legal recovery process based on potential default analysis

3. Bank reconciliation activities

- Understanding of system around collections posting & cheques posting and preparation of reco for open line items for timely closure by interaction with stakeholders

-Understanding of systems around payment postings and Preparation of payment reco on timely basis and communicating it to stakeholders for timely closure

4. Other Customer Accounting Related

- Closure of all Documents not released to accounts cases

- Debtors Revaluation

- Blocking / Unblocking of Customer accounts

- Invoice Cancellation and preparation of MIS

- Monthly circulation of Debtor balance confirmation and reconciliation of differences as part of ICFR

- Audit related queries

- Other general customer accounting related activities -non DBC customers

- Ensuring all costs incurred on behalf of intercompany are recovered properly

- Ensuring pricing of transaction is as per approval of Audit Committee

- Timeliness of recovery

- All transactions being within the limits approved

- Timely receipt of collections

- Bringing out key analysis points and communication it to stake holders for comments

- Identifying risk parameters and constant review of the same.

- Accuracy of data preparation and reporting

- Ensuring significant reduction of customer defaults and thus reducing hit to P&L

-Proper understanding of systems and ensuring timely closure of open line items on monthly basis.

-Interaction of key stakeholders and highlighting delay in accounting of payments or collections by preparing MIS reports

- Quality of exception reporting and follow up for closure of old open items

- Hygiene of Customer accounts

Scope of Work

a) Financial Scope (Range of financial spend):

· Company Turnover of approx. Rs. 17,000 crs

b) People Management Scope (Range of no. of Direct/ Indirect Reports):

c) Geography Coverage (Country-wide/ State-wide / Area-wide)

d) Corporate Coverage (Company-wide / Business Unit or Function-wide / Sub-function-wide / Other):

Key Interactions

Internal

External

Role Requirements / Specifications

Functional Competencies

· Good conceptual clarity on accounting logics

· Good communication skills

Behavioral Competencies

Additional Requirements