Accounts Payable Team Lead

Job Description

Account Payable Team Lead Role and Responsibilities

We are seeking an experienced Account Payable Team Lead to join our team. The successful candidate will be responsible for leading the account payable team, ensuring timely processing of vendor payments, and maintaining accurate financial records.
• Daily Scrutiny of Invoices: Responsible for reviewing and approving invoices on a daily basis, ensuring accuracy and completeness of financial information.
• Vendor Payment Processing: Process vendor payments in Oracle Fusion Financials, ensuring timely payment and maintaining accurate financial records.
• Industry Best Practices: Possess a complete understanding of industry best standard practices in Accounts Payable, ensuring compliance with regulatory requirements.
• Vendor Reconciliation: Responsible for periodic vendor reconciliation and balance confirmation, ensuring accuracy and completeness of financial information.
• Team Management: Lead/Manage the team of processing staff, resolving issues in real-time manner, and ensuring effective communication within the team.
• Employee Reimbursement: Review and account for Employee reimbursement invoices, ensuring accurate and timely processing.
• Vendor Ledger Scrutiny: Responsible for periodic scrutiny of Vendor Ledger, ensuring accuracy and completeness of financial information.
• Weekly Review: Conduct weekly review of Vendor Aging and follow up on Advances paid, ensuring timely payment and maintaining accurate financial records.
• Open Purchase Orders: Follow up on overdue Open Purchase Orders and coordinate for quick closure, ensuring timely payment and maintaining accurate financial records.
• Security Deposits: Responsible for periodic review of Security Deposits, Vendor advances, Employee Advances, ensuring accuracy and completeness of financial information.
• Reports Preparation: Prepare reports as required by management, ensuring timely submission and accuracy of financial information.
• Department Coordination: Coordinate with various departments for getting resolved queries raised during daily scrutiny of Invoices, ensuring effective communication and resolution.
• Expenses Analysis: Prepare Expenses Analysis, Periodic comparison, and review of expenses, ensuring accuracy and completeness of financial information.
• Payment Scheduling:

Timely scheduling of payments and releasing of the same after review, ensuring timely payment and maintaining accurate financial records.
• Confidentiality: Protects organization value by keeping the information confidential, adhering to confidentiality agreements and protocols.
• Audit Compliance: Responsible to handle quarterly & yearly audit (statutory audit & internal audit) from account payable side, ensuring compliance with regulatory requirements.
• Taxation Knowledge: Require adequate taxation knowledge to process AP invoices, ensuring accuracy and completeness of financial information.

Required Skills and Qualifications:
• Leadership: Proven leadership skills with ability to lead teams and manage resources effectively.
• Communication: Excellent communication skills with ability to communicate effectively with stakeholders, including team members, vendors, and management.
• Financial Acumen: Strong financial acumen with ability to analyze financial data and make informed decisions.
• Technical Skills: Proficient in using Oracle Fusion Financials and other relevant software applications.
• Industry Knowledge: Strong understanding of industry best practices and regulatory requirements in Accounts Payable.

Benefits:
• Career Development Opportunities: Opportunities for career growth and development within the organization.
• Competitive Compensation Package: Competitive compensation package, including salary and benefits.
• Collaborative Work Environment: Collaborative work environment with opportunities to work with diverse teams and stakeholders.

Others:
• Work-Life Balance: Support for work-life balance, including flexible working hours and time off policies.