Payroll & ESOP Accounting

2 weeks ago

Mumbai, Maharashtra, India Virtuous Advisors & Resources Private Ltd (Virtuous Resources) Full time
Reports to: Chief Financial Officer

Job Purpose:

The purpose of this role is to ensure smooth and efficient management of key financial processes, including ESOP accounting & management, reimbursement management and MIS reporting. While collaborating with external partner for payroll operations. This position is critical in maintaining the financial integrity, compliance and operational excellence of our company. The role contributes significantly to strategic decision making through accurate financial reporting and analysis for the above-mentioned cohorts of the finance function. About the role: The org. is seeking a highly skilled and motivated professional to join their prestigious Asset Management Company's Finance team. This role is pivotal in managing ESOP administration, overseeing reimbursement processes, and delivering insightful MIS reports, while coordinating with external partners for payroll management. The ideal candidate will bring a deep understanding of financial processes, strong analytical skills, and a commitment to excellence.

Responsibilities:

1. Custodian of Payroll Management:

• Collaborate with the external payroll vendor to ensure seamless and accurate payroll processing.

• Verify and reconcile payroll data provided by the vendor, ensuring compliance with statutory and regulatory requirements.

• Work with internal finance team on fund management for discharging monthly payroll obligations.

• Act as the primary point of contact for employee payroll queries and ensure prompt resolution of any discrepancies.

• Manage actuarial valuations for leave encashment, gratuity, and PF calculations, ensuring compliance with regulatory requirements and internal policies.

• Respond to and assist employees with payroll-related queries, including pay slips, and tax calculations. Act as the primary point of contact for resolving discrepancies and providing clarity.

• Manage and oversee the financial operations for the HODs with the "skin in the game" approach. Ensure adherence to financial policies, prompt resolutions of issues and alignment with organization goals.

2. ESOP Accounting & administration:

• Manage the comprehensive accounting and administration of the Employee Stock Option Plan (ESOP), including grants, vesting schedules, and exercises. Additionally, manage the process once an employee resigns from the organization.

• Maintain meticulous records and ensure compliance with regulatory guidelines.

• Work closely with internal stakeholders and external advisors to optimize ESOP processes.

3. Reimbursement Oversight:

• Oversee the end-to-end processing of employee reimbursements, ensuring adherence to company policies and prompt payment.

• Implement best practices to streamline and automate reimbursement workflows.

• Ensure accurate documentation and audit readiness.

4. MIS Reporting and Analysis:

• Prepare detailed and insightful MIS reports for senior management, providing key financial metrics (pertaining to payroll, long term rewards and reimbursement) and trend analysis.

• Develop dashboards and data visualizations to enhance decision-making.

• Collaborate with various departments to gather relevant data and ensure the integrity of reports.

• Support the internal finance team in the company's annual budgetary process.

5. Compliance and Audit Support:

• Ensure all financial operations comply with internal controls and regulatory standards.

• Support internal and external audits by providing comprehensive and accurate documentation.

• Implement audit recommendations to enhance financial processes.

• Oversee compliance with MF and LODR regulations related to salary, perquisites, and other compensation disclosures.

6. Process Improvement and Innovation:

• Continuously identify opportunities for process improvements and drive initiatives to enhance operational efficiency.

• Leverage technology, AI and automation to improve accuracy and reduce manual effort.

• Stay updated on industry best practices and emerging trends in financial management.

• Develop a comprehensive understanding of technology, particularly as it pertains to managing back-end systems, and ensure smooth coordination with external service providers.

Qualifications:

• /CA Inter

• Overall and relevant experience of 13 - 15 years. Additionally, 5+ years of experience in ESOP administration, reimbursement management, and financial reporting, preferably within asset management sector or wealth management firms.

• Proven expertise in coordinating with external payroll vendors and ensuring compliance with payroll regulations. Deep understanding of IT, actuarial calculations and GST.

• Advanced proficiency in financial software, ERP systems, and MS Excel.

• Strong analytical, problem-solving, and communication skills.

Key Competencies:

• Exceptional attention to detail and accuracy.

• Ability to manage multiple priorities in a fast-paced, dynamic environment.

• Strong interpersonal skills and the ability to work collaboratively across teams.

• High integrity and ability to handle sensitive information with confidentiality.

• Proactive approach to identifying and resolving issues, with a focus on continuous improvement.

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