Asst Mgr Financial Services

The Accounts Payable Assistant Manager leads the AP team and ensuring error free processing of all invoices and prompt payment of the same. A key part of this role is managing the GR/IR account, clearing discrepancies, and keeping strong relationships with vendors and internal departments with people management.

• Supervision: Oversee the daily processing of a high volume of invoices, ensuring they are accurately entered, coded, and properly authorized.
• Workflow Optimization: Review and manage invoice workflows, including 2-way and 3-way matching, exception handling, and resolution of blocked invoices.
• Discrepancy Resolution: Address and resolve discrepancies related to invoice details, pricing, and quantity variances by collaborating with procurement, receiving, and vendor teams.
• Process Improvement: Find and implement improvements to the invoice processing workflow to enhance efficiency and accuracy.

GR/IR Reconciliation

• Reconciliation: Conduct and oversee regular Goods Received/Invoice Received (GR/IR) account clearing and reconciliation to resolve outstanding balances.
• Investigation: Investigate and analyse variances between goods received and invoices received, deciding the cause of any mismatches.
• Collaboration: Coordinate with cross-functional teams, such as buying and inventory, to resolve issues that affect GR/IR reconciliation & cross functional meetings for issue resolutions & process improvements.
• Reporting: Prepare and present regular reports on GR/IR status, highlighting aged items and developing action plans for clearing.

Team Management and Leadership

• Guidance and Mentoring: Supervise, train, and mentor the AP team on best practices, processes, and system usage.
• Performance Monitoring: Set and check key performance indicators (KPIs) for the team, ensuring service level agreements (SLAs) are met.
• Escalation Point: Function as the primary point of escalation for complex invoice and payment issues from both internal and external stakeholders.
• Development: Conduct performance reviews and help in the professional development and succession planning for team members.

Compliance and Reporting

• Financial Audits: Support internal and external audits by providing required documentation and explanations for AP and GR/IR processes.
• Policy Enforcement: Ensure strict adherence to company policies, internal controls, and relevant financial regulations.
• Month-End Close: Assist in month-end and year-end closing activities related to Accounts Payable and GR/IR.
• Statement Reconciliation: Oversee monthly vendor statement reconciliations to support correct records and name discrepancies.

Skills and Qualifications

• Education: Bachelor’s degree in accounting, Finance, Commerce, or a related field.
• Experience: 8-9 years of experience in an Accounts Payable or similar accounting role, with proven supervisory or leadership experience. Large multinational environment experience, in a manufacturing vertical. Familiar with Sarbanes Oxley and Six Sigma

• Technical Proficiency: Strong knowledge of Accounts Payable principles and processes. Firsthand experience with ERP systems, such as SAP, is Mandatory.
• Diligence: Exceptional diligence and a prominent level of accuracy in data entry and financial reporting.
• Problem-Solving: Strong analytical and problem-solving abilities to investigate and resolve complex invoice and reconciliation issues.
• Communication: Excellent written and verbal communication skills for effective collaboration with internal teams and external vendors.
• Software Skills: Ability in MS Office, particularly advanced Excel skills for data analysis and reporting.