: Balance Sheet Substantiation

1. Position Details

- Job Title: Balance Sheet Substantiation
- Domain: Banking & Financial Services (BFSI)
- Experience: 9+ Years
- Qualification: Chartered Accountant (CA) – Mandatory
- Band: C1
- Location: Chennai / Pune
- Budget: Up to ₹35 LPA
- Function: Finance / Financial Control / Record-to-Report (R2R)

2. Role Overview We are seeking an experienced Chartered Accountant with strong expertise in Balance Sheet Substantiation, General Ledger (GL) Reconciliation, Account Reconciliation and Financial Controls within the Banking and Financial Services domain.

The role involves ensuring the accuracy, completeness and integrity of balance sheet accounts through periodic substantiation, reconciliation reviews, variance analysis, open-item monitoring and timely resolution of exceptions. The individual will work closely with Finance, Accounting, Operations, Risk, Audit and other relevant stakeholders to strengthen financial control frameworks and ensure compliance with internal policies and regulatory requirements.

Candidates with experience in banking finance operations, captive/shared-services environments, Global Business Services (GBS), or outsourced finance operations supporting banking clients will be preferred.

3. Key Responsibilities

A. Balance Sheet Substantiation and Review

- Perform and review periodic Balance Sheet substantiation to ensure all account balances are accurate, complete, supported by appropriate documentation and aligned with underlying financial records.
- Validate account balances against supporting schedules, source systems, sub-ledgers and other relevant financial records.
- Ensure appropriate explanations and supporting evidence are available for material balances and unusual movements.
- Review account substantiation packages, identify discrepancies and ensure timely resolution of outstanding issues.
- Monitor compliance with substantiation policies, control standards, review timelines and sign-off requirements.
- Maintain audit-ready documentation and evidence for all relevant balance sheet accounts.

B. General Ledger and Account Reconciliation

- Perform and review General Ledger (GL) and account reconciliations to ensure the accuracy and completeness of financial records.
- Investigate reconciliation breaks, unmatched transactions, unexplained balances and other discrepancies.
- Coordinate with upstream and downstream teams to resolve differences between GL balances and supporting records.
- Ensure reconciliations are completed within stipulated timelines and in accordance with the month-end and quarter-end close calendar.
- Identify recurring reconciliation issues and implement corrective actions to prevent future discrepancies.
- Ensure appropriate escalation of material, aged or unresolved reconciliation items.

C. Open-Item and Ageing Management

- Monitor open items, aged balances, unreconciled transactions and outstanding exceptions across assigned accounts.
- Conduct ageing analysis to identify long-pending items, recurring breaks and potential financial or operational risks.
- Drive timely investigation, resolution, clearance or appropriate write-off of outstanding items, subject to applicable approvals and policies.




- Maintain ageing trackers, action plans and escalation reports.
- Engage with relevant stakeholders to establish ownership, target resolution dates and root causes for pending items.
- Prepare periodic updates on aged items, unresolved breaks and remediation progress for management review.

D. Month-End and Quarter-End Close (R2R)

- Support and oversee Record-to-Report (R2R) activities related to month-end and quarter-end financial close.
- Ensure timely completion of reconciliations, balance validation, journal-related checks and close-control activities.
- Validate Trial Balance balances and investigate unusual fluctuations or unexplained movements.
- Perform Balance Sheet and variance analysis to identify significant changes requiring further investigation.
- Coordinate with Finance, Treasury, Operations and other teams to resolve close-related issues.
- Ensure adherence to financial close calendars, reporting deadlines and established governance standards.

E. Banking and Financial Services Operations

- Support financial control and reconciliation activities within a banking or financial services environment.
- Understand banking-related balance sheet accounts and their associated reconciliation requirements.
- Experience in reconciling suspense accounts, clearing accounts and Nostro/Vostro accounts will be advantageous.
- Investigate discrepancies arising from transaction processing, settlement activities, inter-account transfers or differences between operational and accounting records.
- Coordinate with banking operations and finance teams to resolve breaks and maintain accurate account balances.
- Ensure appropriate documentation and escalation of unresolved items in line with internal policies.

F. Financial Controls, Risk and Audit Support

- Ensure compliance with established financial control policies, procedures and governance frameworks.
- Identify control gaps, process weaknesses and potential risks within reconciliation and substantiation activities.
- Support control testing, remediation activities and continuous improvement initiatives.
- Maintain documentation and evidence required for internal audits, external audits and management reviews.
- Work with stakeholders to address audit observations and implement corrective and preventive actions.
- Knowledge of Internal Control over Financial Reporting (ICFR), Risk and Control Self-Assessment (RCSA), and audit substantiation practices will be preferred.

G. Stakeholder Management and Process Improvement

- Collaborate with Finance, Treasury, Risk, Operations, IT and other stakeholders to resolve reconciliation issues.
- Provide periodic reporting on substantiation completion, ageing, exceptions, control breaches and outstanding action items.




- Identify opportunities to standardise reconciliation procedures and improve operational efficiency.
- Support automation and process improvement initiatives to reduce manual intervention and recurring errors.
- Maintain clear documentation of procedures, review controls and escalation mechanisms.
- Provide guidance and support to team members where the role includes review or oversight responsibilities.

4. Mandatory Skills and Experience

- Chartered Accountant (CA) qualification is mandatory.
- Minimum 9 years of relevant professional experience.
- Strong hands-on experience in Balance Sheet Substantiation, Account Substantiation or Balance Sheet Proofing.
- Strong knowledge of General Ledger (GL) Reconciliation and Account Reconciliation.
- Experience in Balance Sheet review, financial controls and variance analysis.
- Practical experience in open-item management, ageing analysis and exception resolution.
- Understanding of month-end and quarter-end financial close processes and R2R operations.
- Prior experience in Banking, Financial Services or Insurance (BFSI).
- Experience in back-office finance operations, shared services, captive finance centres or outsourced operations supporting banking clients.
- Strong analytical, problem-solving and stakeholder-management skills.

5. Preferred Skills

- Experience supporting retail banking or corporate banking finance operations.
- Familiarity with core banking systems and banking-related financial processes.
- Exposure to Suspense, Clearing and Nostro/Vostro account reconciliation.
- Working knowledge of ERP systems such as SAP, Oracle Fusion or PeopleSoft.
- Knowledge of ICFR, RCSA, financial control frameworks and audit substantiation.
- Experience with reconciliation tools, financial reporting systems and data-analysis tools.
- Exposure to process automation, control enhancement and reconciliation optimisation initiatives.

6. Key Competencies

- Strong attention to detail and financial accuracy.
- Ability to investigate complex reconciliation breaks and aged balances.
- Strong understanding of financial accounting and balance sheet controls.
- Effective communication and stakeholder coordination.
- Ability to manage multiple priorities and meet strict reporting deadlines.
- Robust documentation, analytical and problem-solving capabilities.
- Ownership of issues through investigation, escalation and resolution.

7. Ideal Candidate Profile The ideal candidate will be a Chartered Accountant with 9+ years of experience in banking finance operations, financial control or R2R, with substantial hands-on exposure to Balance Sheet Substantiation and GL reconciliations. The candidate should be comfortable reviewing account balances, investigating discrepancies, managing aged items, maintaining audit-ready evidence and ensuring timely financial close. Candidates with experience in global banking operations, financial shared services, captive centres or outsourced finance operations, along with knowledge of banking-specific reconciliation accounts, will be preferred.

Interested Candidates can share their CV at [email protected] or can whatsapp me at (phone hidden)

Pay: ₹2,000,000.00 - ₹3,000,000.00 per year

Benefits

- Provident Fund

Work Location: In person

📌 Balance Sheet Substantiation (Pune)
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