Financial Operations Specialist

1 day ago


Mumbai, Maharashtra, India IDFC FIRST Bank Full time
Job Description

This role is responsible for ensuring the accuracy of payouts to assignee banks and Alliance partners. The successful candidate will ensure that details are shared with internal and external stakeholders in a timely manner to avoid escalations.

Key Responsibilities
  • Ensure correct and timely payout calculations for all assignment banks for Direct Assignment deals, including downloading IT reports from the reporting system and sharing them with trustees.
  • Prepare payout reports for all assigned banks and verify payout figures with trustees when necessary.
  • Prepare various details and annexures required by bankers and share them on time.
  • Prepare debit notes for servicing fees and dispatch them promptly.
  • Perform reconciliations such as balance comparisons between payout files and portfolio dumps, and payout data versus assignee bank loan statements to ensure balances match our records and assignee bank records.
  • Prepare and upload month-end entries like servicing fee and EIS entry, payout entry, and monthly reversal entry.
  • Provide/sharing details to internal and external stakeholders as needed, conduct UAT testing for automation, perform bank reconciliation, and assist team members when required.
  • Execute financial and accounting activities in a timely manner.
  • Manage day-to-day operations to ensure processes are executed within agreed service level agreements (SLAs).
  • Perform month-end closing activities like revenue accounting, expense accounting, account reconciliation, etc.
  • Manage account payables and receivables activities, credit and collection activities.
  • Regularly assess risks and implement mitigation strategies.
  • Measure financial ratios such as solvency, profitability, growth, and propose enhancements to IDFC First's financial position.
  • Collaborate with Technology to develop systems accommodating regulatory requirements and process improvements.
  • Maintain operational documentation and ensure it is best-in-class.
  • Prepare financial and accounting reports according to bank and regulatory rules and regulations.
Requirements

The ideal candidate should have 2-5 years of experience in finance operations. A Bachelor's degree in Commerce and a post-graduation degree in Mcom/MBA/PGDM are preferred. Holding a Chartered Accountant (CA) certification is an added advantage.



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