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
Protected 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
Solid ownership and follow-up skills
AUTHORITY
Operational decisions within policy
Escalation authority