Cash Management System
Reviewing daily cash flow in the system and approving payments for timely transfer of cash flow for optimum utilization of funds to maximize funds available for investments, all idle funds to sweep at day end in centralized bank account from all banks.
Ensuring adequate provisioning is done for claim payments, commission payments and vendor payments basis the details provided by the stakeholders
To facilitate provisions of all types of collection options to business teams from banks, payment portals/aggregators, credit card companies, wallets and various new collection modes
Collaborate & manage relationships with banks, payment portals/aggregators, credit card companies, wallets & fintech companies including dealings with respect to commercial bank charges negotiations, adopting new initiatives relating to digital collections and payments related and integration of technologies to ensure highest level of digitalization and enhanced customer experience
Review of collection for recovery of Premium from approx. 3000 motor dealers of 20 National Tie-up motor OEMs generating insurance business for BAGIC & clearance of 64vb
Collection pick up arrangements need to start for new tie up motor dealers & further monitor pick up from existing 3000 motor dealers
Monitoring of collection pick ups from all BAGIC offices & setting up pick up arrangement for new BAGIC branch
Monitoring collection of all distribution channels as all channels are having different dynamics & modes of collection. E.g. Cash, Cheque, NEFT, Cards, Wallets, Direct transfers, etc.
Monitoring TAT of credit received against all collections done through all banks, payment gateways, aggregators & wallets
Review & co-ordination for execution of new & renewal of all agreements with banks, payment gateways, aggregators & wallets
Co-ordination for dividend payment to Indian & foreign shareholders
State wise monitoring & reconciliation of premium collections for Agri Business.
Bank Reconciliation (140 Bank accounts)
Review of bank reconciliations for all payment & collection banks for all modes of collections i.e. Cash, cheque, NEFT, cards, wallets, direct transfer etc. on monthly basis & daily monitoring of cash collections bank recon.
Collaborating with key stakeholders to resolve any issues faced while interacting with the banks and communicating the same to the banks.
Automation of Processes
Ideating and implementing of automation techniques in certain processes within the system
Responsible for robotic automation in certain areas of the Cash Management System. For eg- clearance of 64vb has been implemented through the robotic automation portal.
Discussing with the banks on any new key initiatives, new collection modes & new initiatives by bank introduced in insurance or BFSI industry to enhance customer experience
Various integrations with banks, payment portals/aggregators, credit card companies & wallets for collection of premium for various channels.
Participate in recruitment process to identify the right talent within the function
Establish individual performance expectations and regularly review individual performance of the team.
Identify and create development opportunities for team members to enhance functional knowledge.
? Excel skills ? Analytical skills ? IT Exposure ? Advanced knowledge of banking and accounting ? Communication skills ? Relationship Management
HO / Pune
Graduate/ Post Graduate; Chartered Accountant (Preferred) ; MBA Finance
1.Good communication skills. 2.Flexible & adaptable to change. 3.Well versed with MS Office. 4.Should have good analytical and problem-solving skills.
Team Manager -Cash Management and Bank Reconciliation