Job Description

Chit Admin - Female

The Chit Fund Admin in our company is responsible for managing the

complete life cycle of all chit groups

, ensuring strict adherence to company policy and the Chit Funds Act. This role is the central guardian of customer data, group formation, auction execution, prize disbursal, and regulatory compliance, requiring meticulous attention to detail and strong inter-departmental coordination.

Key Responsibilities

1. Customer Vetting & Group Formation

Application Audit & KYC:

Meticulously

audit and verify

all new subscriber applications, ensuring completeness, data correctness, and matching

KYC documents (Aadhar, PAN)

and customer signatures.

Chit Grouping:

Create and finalize new chit groups based on Chit Value and Tenure, strictly enforcing the rule that customers are only grouped after completing

three months of payments

.

Statutory Registration:

Initiate and follow up on the

chit registration process

with the Registrar of Chits, including arranging the Fixed Deposit (FD) and securing the

Prior Sanction Order (PSO)

and

Commencement Number

.
2. Auction & Collection Management

Eligibility & Scheduling:

Prepare the final participant list for auctions by verifying customer payment history and eligibility based on group tenure. Ensure auctions are conducted as per the fixed monthly schedule.

Auction Execution:

Supervise and record the auction process, finalize the

prized and non-prized customers

, and ensure real-time telecast to branches.

Communication:

Immediately notify prized customers of their prize details, required

surety documents

, and the subsequent verification and documentation charges (D.C.) process.
3. Documentation, Disbursal & Settlement

Verification Coordination:

Collaborate closely with the

Credit Department

to schedule and audit

Residential and Business Verifications

for prized customers and their guarantors, and collect all required surety documents.

Disbursal Process:

Initiate and track the prize disbursal only after the

Document Charges (D.C.) cheque

has cleared. Coordinate with the Accounts Department to finalize payment plans for prize, closed, and cancelled chits.

Agreement Management:

Prepare all final agreements (Disbursal, Closing, Cancelled) for customer signing and ensure timely filing of the

Minutes of Meeting (MOM)

and agreements with the Registrar of Chits.

Chit Maintenance:

Manage processes like

Chit Name Transfer

(for non-prized chits) and

Chit Lien

to secure the customer's future liability.
Required Skills & Qualifications

Experience:

Minimum of 4 years Proven experience in a Chit Fund operations or regulatory environment is must.

Knowledge:

Strong understanding of the

Chit Funds Act

and state-specific rules.

Attention to Detail:

Exceptional precision is required across documentation, data entry, and compliance checks.

Communication:

Excellent coordination and follow-up skills across multiple branches and departments (Credit, Accounts, Sales).
Job Type: Full-time

Pay: ?18,000.00 - ?25,000.00 per month

Experience:

Chit administration: 4 years (Required)
Location:

Gandhipuram, Coimbatore, Tamil Nadu (Required)
Work Location: In person