Team Member, Accounts Payable

About the Role

The purpose of this role is to ensure accurate accounting and payment of expenses to vendors and employees. This includes ensuring policy compliance, internal control requirements, and addressing inherent risks in all expense processing. The role is also responsible for the proper booking and control of the organization's fixed assets, necessary tax compliance in transaction processing, and ensuring all related account balances are appropriately reconciled.

Key Responsibilities

• Payments operations including disbursal to employees and vendors.
• Managing employee transactions across various locations.
• Expense review including MIS to senior management.
• Automation & process improvements including reducing manual interventions, improving vendor experience, and implementing tight control over payments processing.
• Processing and ensuring all payments are made for authorized goods and services only with proper approval.
• Processing timely payments for vendor payouts and utility payments.
• Petty cash management for all branches (approx. 60) & timely transfer of petty cash disbursals across all branches within TAT.
• Identifying opportunities for improving process efficiency.
• Resolving exceptions in a timely manner.
• Coordination with various functions for clearing their outstanding queries.
• Resolving escalations for all queries from vendors and branches.
• Constant TAT management.
• Documentation for Internal Control over Financial Reporting (ICFR).
• Physical verification of assets and matching with books.
• Meeting vendor/employee expectations on timely payments and sharing necessary details across different locations and geographies.
• Strict control as per organizational FDOA to ensure no leakages.
• Audit and other reporting requirements amidst an intensive transaction processing environment.

Key Result Areas

Vendor/Broker Invoice & Employee Reimbursement Processing

• Ensuring that posting of invoices as a checker for vendor payments is done with accuracy in the correct GL code and cost center on a daily basis.
• Ensuring that invoice processors comply with defined SLAs.
• Ensuring the queries desk responds to queries raised in relation to invoices and vendor payments on time.
• Ensuring necessary controls are built into the system to ensure compliance with Internal Control and FDOA to reduce manual dependence.
• Preparing a monthly dashboard to highlight team performance to the Unit Head.
• Handling of internal and statutory audits for the related areas.
• Definition of standard SLAs with vendor payments.
• Ensuring compliance with Procurement policy and approval matrix.
• Ensuring smooth closure of Internal, Statutory & Tax Audits without any material observation and as per prescribed time limits.

Expense Provisioning & Analysis

• Ensuring internal functions are informed appropriately for sharing expense provisions.
• Conducting necessary expense analysis on a monthly basis.
• Expense tracking and publishing of functional expenses.

Automation & Process Excellence

• Driving initiatives to automate payment workflows and reduce manual intervention.
• Implementing process enhancements to improve vendor and employee experience.
• Establishing and monitoring internal controls to ensure compliance and efficiency in payment operations.
• Developing new control reports to track any exceptions.

Petty Cash Management

• Managing petty cash for all branches.
• Ensuring branches receive funds on time in compliance with internal control.
• Tracking of expenses on a monthly basis.

Monthly Expense Tracking

• Reviewing expense control reports and highlighting exceptions to management as per defined SLA.
• Tracking expenses across functions monthly.
• Highlighting trends and anomalies for management review.
• Implementing quality controls to mitigate financial risk.

GL Code Reconciliations

• Ensuring all GL codes are reconciled within agreed TAT and reporting of the same.

Requirements & Tech Stack

No specific technologies or tools were explicitly mentioned in the provided text.

Qualifications

No specific educational qualifications were explicitly mentioned in the provided text.

Relationships

Internal

• All functions and employees (Daily): For processing vendor invoices, clarifications related to taxes and invoices, system-related development, etc.

External

• Vendors and Auditors (Need based): For various reports, resolution of queries, vendor reconciliation.