Summary
Overview
Work History
Education
Skills
Personal Information
Area Of Expertise
Timeline
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Mithin Varghese

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

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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

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Mithin VargheseFinance Professional