Finance Associate

Finance Associate – Inventory Finance/Accounts Payable

Key Responsibilities

• Inventory Finance
• Oversee inventory reconciliations, intercompany transactions, work order processing, and variance analysis.
• Support accurate financial reporting through journal entries, account reconciliations, cost of goods sold (COGS) adjustments, and vendor reconciliations.
• Collaborate with Supply Chain, vendors, and internal stakeholders to resolve discrepancies, manage billing processes, and maintain accurate inventory and accounting records.
• Accounts Payable
• Manage a portfolio of vendor accounts, ensuring the accurate and timely processing, validation, and control of Accounts Payable invoices.
• Support on-time payments and continuity of parts supply.

Specific Tasks and Responsibilities

• Inventory Finance Tasks
• Analyze and reconcile intercompany movements, identifying unrealized profit within inventory.
• Prepare and process monthly journal entries and account reconciliations.
• Process customer direct-ship billing.
• Reconcile freight claims.
• Process VRMAs, communicate professionally with vendors, and reconcile related credit notes.
• Product Price Variance (PPV)
• Run daily reports.
• Identify and analyze price and quantity variances across trade and intercompany transactions.
• Make necessary adjustments to inventory costs.
• Process General Ledger entries to update cost of goods sold (COGS).
• Maintain daily logs documenting actions taken.
• Work Order Reports
• Review third-party Goods Received Not Invoiced (GRNI) and identify and analyze cost variances.
• Identify and assess risks associated with unused raw material components in third-party processing.
• Prepare and process monthly journal entries and account reconciliations.
• Review intercompany in-transit inventory and ageing, and make corrections where required.
• Accounts Payable Tasks
• Process Accounts Payable invoices & Work order Invoices in NetSuite, record business transactions, and validate financial data.
• Investigate invoice discrepancies, clarify questionable items or prices, and compare system entries against invoices to resolve anomalies.
• Review invoices and requisitions to confirm that required payment approvals are in place.
• Use the Daily Non-Payable Report to investigate and resolve invoice queries.
• Review aged invoices and follow up with approvers or owners to obtain outstanding approvals and clear invoices from the system promptly.

Key Skills and Competencies

• Accuracy and attention to detail
• Drive for results - end to end ownership.
• Prioritization and organizational abilities.
• Investigative problem-solving abilities.
• Outstanding customer service: both external and internal customers.
• Financial awareness.
• IS system knowledge: Google mail, Excel & Word.
• Methodical approach.
• Time management - ability to multi-task and prioritize.
• Team player.
• Good communication. Ability to communicate confidently and professionally across all levels with internal and external contacts.
• Ability to adapt to change in a fast-paced environment.

General Requirements

• Experience in an inventory-related environment, with the ability to work with large volumes of data.
• Meet established deadlines for assigned work and reporting.
• Take ownership and be accountable for the assigned area of responsibility.
• Maintain accurate and complete records as required.
• Understand and follow any specific instructions provided.
• Maintain a clean, organised, and orderly work environment.