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Senior Manager - Accounts Payables

Senior Manager - Accounts Payables

Indian School of BusinessIndia
5 days ago
Job description

Job Purpose

The Accounts Payable (AP) Team Lead will be responsible for managing end-to-end AP processes, including vendor invoice processing, payments, vendor reconciliations, employee reimbursements, fixed assets accounting, capital budget tracking, monthly AP books closures, accruals and statutory compliance. The role demands leadership, operational oversight, and financial discipline to ensure timely and accurate processing of transactions, effective controls, MIS preparation and reporting, maintaining hygiene in books of accounts, attending to internal and statutory audits and seamless coordination across internal and external stakeholders.

Job Outline

At ISB, Finance plays a key role in controlling and managing the financials of the institute. The department also manages all the legal matters as well as all aspects related to statutory compliances.

The jobholder as Sr. Manager - Finance & Accounts reports to the Associate Director- Finance and performs a set of responsibilities – mainly related to vendor invoice processing, payments, vendor reconciliations, employee reimbursements, fixed assets accounting, physical verification, capital budget tracking, monthly AP books closures, accruals and statutory compliance, accurate processing of transactions, effective controls, MIS preparation and reporting, maintaining hygiene in books of accounts, attending to internal and statutory audits etc.

The jobholder needs to be involved in overall management of accounts payable on an ongoing basis including but not limited to the below activities.

Oversee vendor invoice accounting and payment processing in alignment with credit terms and internal SLAs. Ensure 3-way matching of POs, GRNs, and invoices. Coordinate with Procurement and user departments for resolution of issues in invoices.

Maintain compliance with applicable regulations such as GST, TDS, and MSME. Periodical vendor reconciliations and obtain balance confirmations.

Manage processing of travel and local conveyance claims submitted by employees. Manage tracking, settlement, and reconciliation of employee advances and corporate credit card usage. Ensure policy compliance and follow up on outstanding advances and claims.

Oversee fixed assets accounting including capitalization, tagging, disposal, and maintenance of the fixed asset register. Manage and review monthly depreciation run and adjustments. Coordinate and execute periodic physical verification of fixed assets in collaboration with other departments. Monitor CWIP (Capital Work-in-Progress) for ongoing projects, ensure cost capture accuracy, and initiate timely capitalization upon project completion. Track capital expenditures against approved budgets and highlight potential overruns.

Manage monthly accrual entries and ensure accurate reversal in subsequent periods. Perform GL reviews for AP, employee-related, and fixed asset transactions. Provide supporting schedules for audit and monthly closing and ensure ledger accuracy and policy compliance. Review cost centre-wise expenses periodically and provide variance analysis.

Collaborate with the Budgeting and Financial Reporting teams to align operational costs with budget plans. Provide input for forecasting cash outflows and assist with planning exercises.

Liaise with the Commercial, Academic, Facilities, and IT teams for invoice clarifications, contract checks, and capex project tracking. Coordinate with vendors and address escalated payment or reconciliation issues.

Implement process improvements, automation initiatives, and ensure control effectiveness. Facilitate internal, statutory, and tax audits by preparing reconciliations, schedules, and documentation.

The job holder needs to interact with Statutory Auditors and to respond to queries and provide the necessary details.

The incumbent is also required to provide guidance and support to the team on an ongoing basis for any issues related to SAP.

Job Specification

Knowledge / Education

Chartered Accountant / MBA Finance

Specific Skills

Accounting Payable, MIS Generation, Reconciliations, Interpersonal skills, Attention to details, SAP

Desirable Experience

8 to 10 years

Job Interface / Relationships :

Internal

All departments

External

Statutory Auditors and representatives from Audit firm, Internal auditors, management consultants, SAP consultants

Key Responsibilities and % Time Spent

Oversee vendor invoice accounting and payment processing in alignment with credit terms and internal SLAs. Ensure 3-way matching of POs, GRNs, and invoices. Coordinate with Procurement and user departments for resolution of issues in invoices - 20%

Manage processing of travel and local conveyance claims submitted by employees. Manage tracking, settlement, and reconciliation of employee advances and corporate credit card usage. Ensure policy compliance and follow up on outstanding advances and claims - 15%

Oversee fixed assets accounting including capitalization, tagging, disposal, and maintenance of the fixed asset register. Manage and review monthly depreciation run and adjustments. Coordinate and execute periodic physical verification of fixed assets in collaboration with other departments. Monitor CWIP (Capital Work-in-Progress) for ongoing projects, ensure cost capture accuracy, and initiate timely capitalization upon project completion. Track capital expenditures against approved budgets and highlight potential overruns - 20 %

Manage monthly accrual entries and ensure accurate reversal in subsequent periods. Perform GL reviews for AP, employee-related, and fixed asset transactions. Provide supporting schedules for audit and monthly closing and ensure ledger accuracy and policy compliance. Review cost centre-wise expenses periodically and provide variance analysis. MIS preparation and reporting - 25%

Implement process improvements, automation initiatives, and ensure control effectiveness. Facilitate internal, statutory, and tax audits by preparing reconciliations, schedules, and documentation - 10 %

Maintain compliance with applicable regulations such as GST, TDS, and MSME. Periodical vendor reconciliations and obtain balance confirmations - 10%

Total Time Spent on All Responsibilities - 100%

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Senior Account Manager • India

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