JOB DESCRIPTION – CMS CONCURRENT AUDIT EXECUTIVE
Position: Audit Assistant– Cash Management Services (CMS)
Industry: Banking and Financial Services
Employment Type: Full-time
Role Overview
The Audit Executive will be responsible for conducting transaction-level verification, reconciliation and compliance reviews of Cash Management Services (CMS), RERA, Escrow, Dividend and other banking operations. The role requires scrutiny of supporting documents, identification of process exceptions and timely reporting of audit observations.
Key Responsibilities
- Collections and Payments
- Verify cheque and cash collection transactions, including customer charges, DSB charges and vendor billing.
- Review school-fee collections and controls relating to pre-signed blank cheques.
- Verify payment of direct taxes, GST and customs duty.
- Review the processing of CMS payment GL accounts.
- Account Reconciliation
- Perform reconciliation and scrutiny of CMS-related GL accounts.
- Review partner-bank reconciliations and investigate outstanding entries.
- Verify monthly DEAF reporting and related reconciliations.
- Ensure timely identification and reporting of unreconciled or long-outstanding transactions.
- RERA and Escrow Operations
- Verify RERA account openings, transactions and standing instructions.
- Scrutinise escrow agreements and account-opening documentation.
- Verify escrow transactions, fees, budget setups and budget utilisation.
- Review fax and email indemnities relating to escrow transactions.
- Perform quarterly reconciliation of escrow agreements with operational records.
- Client and Product Setup
- Scrutinise documents submitted for client, virtual account, API and POA setup.
- Verify forms, board resolutions, request letters, KYC documents and approval records.
- Review customer charges configured for virtual accounts.
- Verify RDA requests, non-trade purpose codes and addition of permitted countries.
- Review referral forex transactions.
- Share Application Money Accounts
- Verify the opening and closure of current accounts maintained for share application money.
- Review transactions routed through share application money accounts.
- Ensure adherence to applicable internal policies and regulatory requirements.
- Dividend Operations
- Perform fortnightly, monthly and quarterly dividend account reconciliations and review summary reports.
- Verify dividend setup documents and vendor bills.
- Review dividend payment transactions, instrument printing, warrant masters and NACH MIS.
- Verify cheque and demand draft stock, vault registers, key-movement registers and physical stock confirmations.
- Review Axis Bank DD processing, DD reconciliation and stale-instrument cancellation.
- Verify IEPF transfer cases and the renaming of accounts as “Unpaid Dividend.”
- Review freezing of accounts after payout completion.
- Verify initial dividend payment and reissuance cases.
- Audit Documentation and Reporting
- Maintain proper working papers and supporting evidence for transactions reviewed.
- Identify control gaps, operational exceptions and non-compliance with approved processes.
- Discuss audit observations with the concerned operations team.
- Prepare clear audit observations and assist in periodic concurrent audit reporting.
- Track open observations and verify corrective actions taken by the relevant teams.
Required Qualifications
- B.Com, M.Com, CA Inter, CMA Inter or equivalent qualification.
- Candidates with prior experience in bank audits, concurrent audits or CMS operations will be preferred.
Required Skills
- Understanding of banking operations, accounting entries and reconciliations.
- Good knowledge of CMS, Escrow, RERA and Dividend operations.
- Strong working knowledge of Microsoft Excel.
- Ability to scrutinise high-volume transactions and supporting documents.
- Good analytical, documentation and communication skills.
- Attention to detail and ability to meet strict reporting timelines.
- Willingness to work from the bank’s office or operational location, as required.
Experience
- Preferably 1–3 years of experience in banking operations, concurrent audit, internal audit or transaction verification.
- Fresh graduates or semi-qualified candidates with strong accounting knowledge may also be considered.
Pay: ₹15,000.00 - ₹20,000.00 per month
Application Question(s):
- What is your notice period
Location:
- Goregaon, Mumbai, Maharashtra (Preferred)
Willingness to travel:
Work Location: In person
