Team Leader-Cash Management and Bank Reconciliation

Cash Management:
Preparation of daily cash flow taking all collections into consideration and managing funds required for various departments for daily payouts.
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.
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 transfer 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(125 Bank Accounts):
Preparation & Review of bank recons for all payment accounts on monthly basis.
Preparation & review of all online collection accounts on daily basis and other collections i.e. cheque, NEFT etc. on monthly basis. 
Daily monitoring of cash collections bank recon and highlighting discrepancies with Ops team to ensure total control over cash collections.
Reviewing open items and coordinating with respective stakeholders for corrective action and timely closure of pending entries by passing rectification entries, if required.
Timely follow up with IT team for any discrepancies in posting of accounting entries resulting in reconciliation issues. 

Automation of Processes:
Implementation of automation techniques in certain processes within the system for improving efficiency in the process
Responsible for robotic automation in certain areas of the Cash Management System. For eg- clearance of 64VB to be implemented through the robotic automation portal.
Reduction in 64VB TAT to meet SLA with business partners, through automation and by reduction of collection TAT from banks.
Discussion with the banks on any new initiatives,  collection modes & other offerings  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.

Team Development:
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.

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