Mithin Varghese
Finance Professional
Taunton,SOM
Summary
Qualified and result oriented professional with 7 plus years of experience in Accounts payables and receivables, Insurance, Reconciliation and Auditing.
Overview
13
13
years of professional experience
5
5
years of post-secondary education
2
2
Languages
Work History
Senior Associate/Team-Lead
HTIC Global
06.2018 - Current
- Leading the accounts payable and commission receivable team.
- Managing the team of 5 members who are responsible for the entire accounts payable and commission receivable for the insurance broking client in UAE.
- Preparing MIS reports on monthly payables and commission receivables and reporting the same to top management.
- Assisting the GL team in preparing and finalizing the financial reports and present the same to the management.
- Monitor the vendor accounts for outstanding payables and settle the amount based on agreed credit terms.
- Collect the commission due from vendors for the paid premiums and liaise with them for recover the long terms outstanding commissions.
- Ensure the receipts, payments and netting are properly applied and done in the respective client accounts.
- Forecast the monthly cash inflow/outflow related to Payables and commission receivables.
- Forecast the monthly business based on prior data and prepare the reports based on this forecasting.
- Reconcile the monthly ledgers/SOAs of vendors and customers with the company's SOA and ensure the accounts are up to date.
- Handle the customers/vendors queries and coordinating with other internal departments in order to find solutions.
- Manage the escalations from team members and resolve the same for smooth running of operations.
- Regular communication with clients to build the smooth relationship, collect the payments on time and resolve the issue upfront.
- Analyze the market data on insurance and assist the business analysis team to prepare the reports.
Senior Officer-Accounts Receivables, Commission Payables
Oman Insurance Company
09.2016 - 11.2017
- Company Overview: (On contract), UAE
- Managing the accounts receivables and commission payables in brokerage, direct customer and reinsurance accounts.
- Following up for 180 days outstanding receivables (Premiums, Commission, Claim Settlement and Recovery etc.).
- Preparing monthly cash inflow/outflow.
- Monitoring the broker, direct customer and reinsurance accounts details for non-payments, delayed payments and other irregularities.
- Reconcile the monthly ledger/SOA of broker/reinsurerd accounts with the company's SOA and ensure the accounts are up to date.
- Handle the customers/brokers complains and coordinating with other internal departments in order to solve them.
- Regular communication with clients to build the smooth relationship, collect the payments on time and resolve the issue upfront.
- Preparing and sending monthly dunning / reminder letters to reinsureres/brokers where payments are not made.
- Collect the premium receivables on time and settling the outstanding commissions and claims to the respective clients.
- Ensure the receipts, netting and settlements are properly applied and done in the respective client accounts.
- Coordinate with reinsurers and brokers on collection of due premiums and settlement on monthly basis.
- Responsible for timely settlement to clients and coordinate with internal departments in order to provide the clients with all required documents for payments.
- (On contract), UAE
Associate 2 (Associate- Team Lead)
KPMG GDC
10.2012 - 12.2015
- Company Overview: Kochi
- Assist in managing the offshore audit team.
- Managing the productivity, utilization and overall development of the Associates in the team.
- Identifying and reporting the findings in analysis and suggest the corrections for improvement.
- Responsible for giving On the Job training to new joiners.
- Identify the auditing areas of clients which can be done through offshore audit team.
- Prepare the monthly utilization report of the team and communicate the same to the management.
- Reconcile various financial statements and reports with its respective supporting documents.
- Reconcile the Clients financial statements with the bank statements.
- Checking the arithmetic accuracy and consistency of the financial statements prepared.
- Assuring the consistency of different client financial statements through tie-outs, vouching the respective supporting.
- Perform Accounts Receivable analysis and Test works; Identifying the different aging buckets of receivables, Verifying the accuracy of the receivables through 3 way matching Test works Analysis of Receivables through KPMG audit tools (eAudiT, IDEA etc) and MS Excel.
- Analysis of statement of Accounts Payable, checking the relevance and accuracy of payables through Test works and KPMG specified analysis (Audit Tools like eAudit IDEA etc).
- Mentoring and motivating both senior associates and new joiners in the team.
- Well versed in Data and analytics software like IDEA and MS Excel.
- Kochi
Education
MBA - Finance and HR
University of Calicut
01.2010 - 01.2012
BBA - undefined
University of Calicut
01.2007 - 01.2010
Skills
Team Management
Accounts Payables
Accounts Receivables
Insurance and Reinsurance accounts handling
Accounts reconciliation
Claims handling
Premium settlement
Premium collection
US Audit procedures
Oracle Financials
SAP
MS Office
Personal Information
Date of Birth: 07/20/90
Area Of Expertise
- Team Management
- Accounts Payables and Receivables
- Insurance and Reinsurance accounts handling
- Accounts reconciliation, claims and premium settlement/collection
- US Audit procedures
Timeline
Senior Associate/Team-Lead
HTIC Global
06.2018 - Current
Senior Officer-Accounts Receivables, Commission Payables
Oman Insurance Company
09.2016 - 11.2017
Associate 2 (Associate- Team Lead)
KPMG GDC
10.2012 - 12.2015
MBA - Finance and HR
University of Calicut
01.2010 - 01.2012
BBA - undefined
University of Calicut
01.2007 - 01.2010