WFAPA- The team in Chennai is responsible for the processing of Salary & Benefit payments to the Bank Group staff on a fortnightly basis. This includes ensuring proper controls over the entire process and adhering to the Bank’s policies and procedures. All tasks included in the payroll schedule need to be performed timely to ensure the accuracy of Payroll payments. While Chennai assumes the responsibility for delivering the services at the performance levels specified in the Service Level Agreement (SLA), HQ payroll engages in stakeholder management and projects.
Duties and Responsibilities:
Continuously monitor all GL accounts and prepare periodic reconciliations relating to Payroll; follow up with clients and other units on aged and critical items
Prepare monthly Trial Balance; analyze and explain variances, aged items
Prepare financial statements disclosures
Provide inputs to Management Reporting and Analysis
Prepare and monitor KPIs metrics monthly – with benchmark data; explain significant variances
Prepare unit’s operational reports
Prepare monthly MIS report; explain major variances
Prepare reports from the source system (SAP/BI) to develop the data analytics/trends needed to support the unit’s reporting needs
Implement and monitor relevant accounting policies and ICFR requirements of the Team
Prepare and post General Ledger Accounting entries, and undertake Chart of Account Maintenance activities
Lead and/or participate in the team’s system projects affecting reporting function, including preparation of business requirements and liaising with other units and ITS
Participate in the user testing (UAT) and implementation of any new systems, applications, tools, and reports for the team, to enhance efficiency, effectiveness, and standardization.
Identification of problems and areas of possible improvements and development of constructive recommendations for improvements in internal controls over the activities reviewed.
Mentor junior staff and provide input to senior-level staff to help optimize processing standards and improve productivity; identify process improvements and provide inputs to support management’s initiatives to improve the process quality & process-related controls.
Troubleshoot and resolve system issues that affect payroll processing and financial reporting.
Answer queries and provide information/analysis requested by external auditors and internal auditors
Update desk procedures for each business function
Collaborate with colleagues, clients, and counterparts to resolve day-to-day accounting and reporting issues; provide guidance and solutions for accounting for transactions and internal control issues and support for the research and solutions on complex issues
Participate in the Team’s client engagement and outreach activities, and perform certain Business Advisory functions
Provide insightful data analytics using appropriate tools in delivering the work program
At various stages of the payroll cycle, coordinate with ITS and the Staff receivable system (SRS) to ensure programs have been run; Coordinate with co-workers on the completion of work before moving to the next stage of the process.
Perform secondary review of exception reports and review the exception items reported in the dashboard. Advice necessary corrections to the assistants and ensure the changes are made in the paycheck before finalizing payroll.
Review paychecks of all terminated staff who have a paycheck in the current pay cycle and ensure the benefits are calculated appropriately and there are no outstanding payments due from them.
Handle queries from staff through emails received on the service desk within the agreed Turn Around Time of 24 hours.
Finalize and release off-cycle payments and salary advances.
Selection Criteria:
CA or CPA or ACCA (or an equivalent professional accounting qualification) with at least 3 years of relevant post-qualification work experience.
Core Technical Knowledge and Skills:
In-depth, detailed understanding of Payroll systems, preferably the PeopleSoft Payroll module and its control features and configuration capabilities (Global Payroll 9.1).
Should have a good working understanding of US Generally Accepted Accounting Principles, accounting policies and ICFR requirements.
Should have experience with GL posting, reconciliations, and accounting reports preparation
Solid track record with a resolution of issues, exceptions, and ageing items
Experience with the application of accounting policies, variance analysis and preparation of financial statements disclosures
Experience in SAP FI system, Power BI, and Tableau tools is desirable. Exposure to other systems like People soft would be an added advantage.
Advanced computer skills in MS Office, accounting software and databases.
