Job Description
Role Purpose
The purpose of this role is to lead the timely and accurate accounting of all receivables from clients in the assigned BU. The role is also responsible for reconciliation of the bank balance and the payments received from the clients, continuously track and highlight the ageing of receivables to the management for further action.
Do
1. Collections Accounting
a. Lead the accurate and timely accounting of invoices paid by the clients for the assigned business units / accounts
b. Ensure accurate matching of payments received with the invoices raised and highlight any deviations like short payment, over payment or payment mismatch
c. Review the taxes withheld / deducted while making the payment and validate with internal calculations
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d. Highlight deviations owing to deductions, short or excess payment, wrong entity/ bank account etc
e. Support in sharing MIS with BFM and AFM on payments received for their respective businesses / accounts
f. Create awareness in the team on the process to be adopted for validating the payments received
2. Bank reconciliation
a. Lead the continuous up-dation and reconciliation of bank statements
b. Take ownership of the accurate matching of the payments received and knocking off against the invoices raised to the clients
c. Highlights any deviations in the matching process to the BFM and AFM
d. Drive adherence for accurate reconciliation of payments received and booking of payments for own team
3. Reporting and MIS
a. Support in circulating the MIS highlighting the payments received from the clients
b. Provide inputs on the delays or outstanding invoices in a timely manner to the Account leadership team
c. Monitor and report the progress on the reconciliations carried out as per the defined SLAs
d. Support in accurate projection of outstanding / ageing of invoices for various Wipro entities
4. Team Management
a. Team Management
i. Clearly define the expectations for the team
ii. Assign goals for the team, conduct timely performance reviews and provide constructive feedback to own direct reports
iii. Guide the team members in acquiring relevant knowledge and develop their professional competence
iv. Educate and build awareness in the team in Wipro guidelines on revenue recognition, pricing strategy, contract terms and Revenue Assurance Manual
v. Ensure that the Performance Nxt is followed for the entire team
b. Employee Satisfaction and Engagement
i. Lead and drive engagement initiatives for the team
ii. Track team satisfaction scores and identify initiatives to build engagement within the team
Deliver
No.Performance ParameterMeasure1. Internal CustomerAgeing of invoices
Timeliness of reconciliation
%age accuracy in reconciliation2.Team Management Team attrition %, Employee satisfaction score, localization %, gender diversity %
Training and skill building of team on revenue recognition standards
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