Accounts Payable Officer

Accounts Payable Officer

A well reputed Insurance company in Sri Lanka seeking for a detail-oriented and proactive individual to join their finance team as an Accounts Payable Officer.

The Job

The person will be responsible to process the payments as per service levels and the delegation authority

Principal Accountability

• Process invoices based on the delegation authority and ensure accuracy and completeness of information
• Run checks and balances on the payments that need to be processed, verify the calculations of vendor payments, incentives to agents, employee payments (salary, reimbursements) and claims
• Process payments to vendors, agents, and payment to employees (Petty cash/IOU), ensuring timely and accurate payment of invoices along with reimbursements
• Maintain relationships with vendors, by addressing their inquiries and resolving any issues or disputes
• Monitor and address the claim requests as well, make the payment post conducting the required checks and verification of a certain limit defined within the organization
• Reconcile accounts payable balances to vendor statements and resolve any discrepancies
• Prepare and analyze accounts payable reports, such as aging reports, payment histories and vendor spend analysis
• Solve queries related to the life operations team on premium reversing, providing comments on premium mismatching and escalate to senior team if required
• Identify opportunities to improve the accounts payable process, such as implementing automation or streamlining workflows
• Ensure compliance with company policies and procedures, as well as applicable laws and regulations for payment processing

Qualifications and Experience:

• Bachelor’s Degree in Finance from a recognized university/ Institute
• Minimum 2 years of experience in finance operations from Insurance industry or a related field.
• Part qualification in CA/ACCA/CIMA will be an added advantage.
• Ability to work under minimum supervision, multi-task and work under pressure
• A self-motivated individual as well as a team player
• Impeccable attention to detail with quality focus