Branch Operations Manager - Chit Fund

BRANCH OPERATION MANAGER-JM3

Chit Group Management

- Ensure obtaining PSO and Commencement Certificate.

- Ensure adherence to Chit Funds Act, 1982 and State Rules.

- Monitor smooth running of chit groups.

Customer Onboarding & Documentation

- Ensure KYC compliance and quality onboarding.

- Validate execution of Chit Agreements.

- Maintain proper documentation.

Auction Management

- Ensure effective auction planning and execution.

- Supervise proxy participation, bid management, and dividend declaration.

Prize Money Disbursement

- Ensure timely disbursement within TAT.

- Verify adequacy of securities and documentation.

Statutory Compliance & Returns

- Ensure compliance with Chit Funds Act and State Rules.

- Ensure timely filing of statutory returns.

Collections & Overdue Management

- Manage prized and non-prized overdues.

- Ensure strict follow-up and reduction of overdue.

Statutory Reserve & Fund Management

- Ensure statutory reserve compliance.

- Monitor second account / escrow account.

Bid Loss Management (CRITICAL)

- Ensure zero tolerance for avoidable bid loss.

- Immediate post-auction follow-up for disbursement or substitution.

- Track and close all pending bid loss cases.

- Escalate critical cases without delay.

General Branch Operations

- Oversee instalment collections, vendor payments, bank reconciliation.

- Ensure accounting and audit compliance.

- Overall learning and skill development of the Team

- Safe custody of documents and Up keeping of branch

- Key Management and movement

KPIs

- Timely group commencement

- Quality onboarding

- Auction performance

- Disbursement within TAT

- Reduction in bid loss

- Collection efficiency

- Statutory compliance

- Operational accuracy

ACCOUNTABILITY

- Responsible for delayed disbursement of Prize money, customer escalations, bid loss, delays, compliance failures and documentation lapses.

SKILLS

- Knowledge of chit operations and regulations

- Strong ownership and follow-up skills

AUTHORITY

- Operational decisions within policy

- Escalation authority as required