Job Purpose:
Manage accounts payable and cash management function key processes and controls. Drive the process transformation project/s to improve efficiency and be aligned to the overal company strategic goals.
Accountabilities:
Accounts Payables
- Manage all accounts payable transactions to clients, brokers, suppliers etc as per the company guidelines and SLAs agreed.
- Take appropriate action and resolve/attend to complaints and issues raised by both external and internal parties in relation to AP and Cash Management function
- Conduct regular reviews of the AP ageing balances to ensure timely settlement of payments
- Manage relations with other internal departments to discuss/resolve any issues/complaints raised by different stakeholders
- Collates and extracts data, produces & presents routine reports, dashboards, schedules and letters for customers, suppliers and internal departments.
- Manage monthly closing processes including reconciliations of A/P accounts and proper coding in G/L within set timelines.
Cash Management
- Prepare and monitor cash flow forecasts. Coordinate with investments team for any short term borrowing required
- Conduct random reviews on the daily reconciliation prepared by the cashiers and take corrective action in case of discrepancies
- Actively coordinate with compliance department to ensure branch cashiers adhere to set KYC requirements e.g cash limits for individual collections
- Manage and execute all receipt cancellations in the system where accurate and clear explanations for cancellations are provided.
- Manage the negotiation of FX deals with the banks at transaction level. i.e Bloomberg rates vs. bank rate
- Review the daily bank balances and advice the management on any concentration risks and provide solutions to mitigate the risks
- Manage inter-account funds transfers i.e USD to AED or vice versa.
- Conduct random reviews on the petty cash submissions made by the branches to ensure that the petty cash policy is adhered to and raise concerns where necessary.
- Participate in budget preparation process. Throughout the year, monitor spending(for expenses like bank charges, trade credit fees etc) and recommend cost saving considerations
- Manage opening and closing of operating of bank accounts
Skills Required:
- Time Management, Networking
- Strong leadership, communication (written and verbal) and influencing skills
- Analytical and problem solving capability
- Demonstrate a high level of motivation, initiative and a drive to succeed.
- Functional understanding of accounts payable and cash management as well as the related general ledger accounting codes
- Ability to performs a variety of tasks.
- Solid team management capabilities
- Creativity and latitude is required.
- Knowledge on Microsoft office applications (Excel, Power point, Visio, Power Bi etc.)
Education, Experience and Formal/Professional Qualifications:
- Bachelor's degree in Accounting and/or Finance
- Minimum experience of 5 years in similar role
- Understanding of Oracle Finance system
- Professional qualification/certification in treasury would be an added advantage
