Team Member - Accounts Payable

Descrizione del lavoro:

Basic Details: Fill the required information about business, unit, location, position, reports to position and date of updation of JD

Business

Health Insurance

Unit

Aditya Birla Health Insurance Company Ltd

Location

G cop - HO, Thane

Poornata Position Number of the job

Reports to: Poornata Position Number

Poornata Position Title of the job

Reports to: Poornata Position Title

Function

Accounts

Reports to: Function

Accounts

Department

Accounts

Reports to: Department

Accounts

Designation of the Employee s

FAI 6 Accounts Payable Managers

Designation of the Manager

FAI 5 Head - Accounts Payable & Taxation

Date of writing/updation of JD

18th Sep'25

1) Job Purpose: Write the purpose for which the job exists (in 2-3 lines)

The purpose of the role is to ensure accurate accounting and payment of expenses to vendors and employees, ensure that the necessary policy compliance, intern control requirements and the inherent risks are appropriately addressed in all expense processing. The role also needs to take care of proper booking and control over fixed assets of the organization, necessary tax compliance in all the transaction processing and ensuring that all the related account balances for the area is appropriately reconciled.

2) Dimensions: Mention quantitative or qualitative parameters that are relevant for the job and provide a better understanding of the scope and scale of the job.

Important Parameters for the job:

* Payments operations including disbursal to employees and vendors.

* Managing employees transaction across various locations

* Expense review including MIS to senior management

* Automation & process improvements including reducing manual interventions, improve vendor experience and implementing tight control over payments processing.

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3) Job Context & Major Challenges: Write the specific aspects of the job that provide a challenge (internal and external) to the jobholder in the context of the Business/Unit/Function/Department/Section

About the Health Insurance Industry -

While the current market sees more than 15 non-life players in the private space and 5 exclusive private players in the health insurance space trying to capture a sizable market share, the nationalized service provider (6) remains a strong competitor. In addition to this the business dynamics are such that the overall market on an annual basis which is to the tune of roughly 10,000 Crs sees close to 85 % of the business renewing with the existing service provider itself. This narrows down the opportunity of the fresh business actually being seriously fought in the market to approximately 1500 odd Crs. With the SME and the start-ups being the driving force of Indian economy, the opportunity to cater to these segments is immense and is increasing manifold year on year. The challenge here therefore remains as to how we capture a larger share of the opportunity by developing specific solutions to cater each segment of the business. Also by creating an inexpensive and standardized solution to increase the reach into the pockets of channel partners across the country to harness on their captive business and explore new opportunities with them.

Market Opportunities - With the advent of medical advancements, lifestyle changes, change in Indian socio-economic scenario and Indian healthcare space, and the insurers are facing challenges to cater to the needs of this diverse clientele. Increasingly Indian customers have started considering health insurance partners as extensions of health advisers. In this scenario it becomes extremely important to understand their psyche and then provide tailored solutions with wellness benefits which would help them meet their end objectives and bring in profitable revenue source for the company.

About the Aditya Birla Health Insurance -

Aditya Birla Health Insurance Co. Limited (ABHICL) was incorporated in 2015 as a 51:49 joint venture between Aditya Birla Capital Limited (ABCL) and MMI Strategic Investments (Pty) Ltd. ABHICL commenced its operations in October 2016.
ABHICL has entered the competitive health insurance market with an aim to expand the category to wider customer segments, beyond the ones that health insurance companies traditionally have marketed to. As the 6th entrant in a category with well-established players, ABHICL is creating differentiation and equity for itself though the unique business proposition of "Health Insurance for All", a one of a kind proposition in India at the moment. This is a philosophy that is being built through every single consumer touch point and into every single backend process of the company to ensure a customer's experience of our proposition is continuous and seamless.
ABHI's unique offering to market includes proposition includes -

* A Comprehensive Incentivized Wellness Program that will attract the young and health conscious and will motivate, guide and reward them to stay healthy
* A Chronic Care Management Program to cater to the unmet needs of a growing Indian population of those suffering from chronic lifestyle conditions like Diabetes, Asthma, High Cholesterol and Hypertension from Day 1
* ABHICL serves as an enabler and influencer of health and healthcare choices that customers make, in addition to being a payer of healthcare expenses. Thus, ABHICL would act like a much needed catalyst to grow the prevalent health insurance landscape in India through product innovations and a wider choice of consumer relevant products.
* ABHICL's vision has always been digital. The company has been successful in adopting paper-less approach right from identifying to on-boarding to delivering seamless experience of its customers & employees.

Key Challenges for the role -
* Processing and ensuring all payment is made for authorized goods and services only with proper approval,
* Processing timely payments processing for Vendor payouts, Utility payments,
* Petty cash management- Managing petty cash for all branches (approx. 60) & timely transfer of Petty cash disbursals across all the branches within TAT,
* Identify opportunities for improving the efficiency of the process.
* Resolving exceptions in a timely manner,
* Coordination with various function for clearing their outstanding queries
* Resolving escalations for all queries from vendors and Branches,
* Constant TAT management,
* Documentation for Internal control over financial reporting (ICFR),
* Physical verification of assets and matching with Books
* Meeting vendors / employee expectation on terms of timely payments and sharing of necessary details across different locations and geographies
* Strict control as per organizational FDOA to ensure no leakages
* Audit and other reporting requirements amidst intensive transaction processing environment

4) Key Result Areas: Write the key results expected from the job and the supporting actions for each of these key result areas (For a majority of jobs typically there could be 4- 7 key result areas)

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Key Result Areas

Supporting Actions

Vendor/Broker Invoice & Employee Reimbursement Processing -
Ensure timely and accurate payments as per internal controls.

* Ensuring that posting of invoice as checker for vendor payments is done with accuracy in correct GL code and cost center on daily basis
* Ensuring that the processors of invoice comply with defined SLA
* Ensuring the queries desk responds to the queries raised in relation to the Invoices and vendor payment on time,
* Ensure that necessary controls are built in system to ensure compliance with Internal Control and FDOA to reduce manual dependence.
* Prepare Monthly dashboard to highlight the team performance to the Unit Head.
* Handling of internal and stat audit for the related areas
* Definition of standard SLAs with vendor payments
* Ensuring compliance with Procurement policy and approval matrix
* Ensuring smooth closure of Internal, Statutory & Tax Audits without any material observation and as per prescribed time limit.

Expense Provisioning & Analysis -
Strengthen expense visibility and control

* Ensuring that the internal functions are informed appropriately for sharing expenses provisions
* Necessary Expense analysis should be done on a monthly basis
* Expense tracking and publishing of functional expenses

Automation & Process Excellence -
Reduce manual interventions in process, improve vendor experience and implementing tight control over payments processing

* Drive initiatives to automate payment workflows and reduce manual intervention.
* Implement process enhancements to improve vendor and employee experience.
* Establish and monitor internal controls to ensure compliance and efficiency in payment operations.
* Develop new control reports to track any exceptions.

Petty Cash Management -
Ensure timely and compliant petty cash disbursal across branches.

* Managing Petty cash for all branches.
* Ensuring branch should get the fund on time in compliance with internal control.
* Tracking of expenses on a monthly basis.

Monthly Expense Tracking -
Enable proactive cost monitoring.

* Review of expense control reports and highlighting exceptions to management as per defined SLA.
* Track expenses across functions monthly.
* Highlight trends and anomalies for management review.
* Implementing quality controls to mitigate financial risk.

GL Code Reconciliations -
Maintain financial hygiene through timely reconciliations.

Ensuring all GL codes gets reconciled within agreed TAT and reporting of same.

5) Job Purpose of Direct Reports: Describe the job purpose of the direct report/s to the job (in 2-3 lines for each report)

nil

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6) Relationships: Describe the nature and purpose of most important contacts or relationship (except superior/team members) with individuals, departments, organizations inside and outside of the organization, that job is required to interact with in order to deliver the job objectives

Relationship Type

Frequency

Nature

Internal

All functions and employees

Daily

For Processing of Vendors invoices, clarifications related to taxes and invoices, system related development etc.

External

Vendors and Auditors

Need based

Various reports Resolution of queries, Vendor reconciliation,

7) Organizational Relationships: Provide the structure for a level above and below the position for which this job description is written. Use position titles in the structured and indicate all the reports of the position.

SIGN-OFF: Provide the name of the Manager and the jobholder. Signature needed for the hard copy of the JD. Hard copy to be maintained in the organizational record.

Job Holder

Reports to - Manager

Name

Signature (needed for the hard copy)