Head - Accounts Payable - BFSI

Looking for Head Accounts Payable, MNC Bank, Mumbai

Role Responsibilities:

- The role is responsible for the management of Accounts Payable & Receivable, and involves understanding and controlling the flow of all invoices and Travel & Entertainment staff expense claims from receipt in the department, through the GSC and payment/settlement to the correct supplier / employee, as well as correct update / postings onto the bank's accounting/payment systems.

- Has authority over the end to end Accounts Payable and Operational Procurement function within the country.

- Required to understand how local regulatory matters may impact local strategy and direction.

- Keeping track of all payments and expenditures, including payroll, purchase orders, invoices, statements, etc.

- Reconciling processed work by verifying entries and comparing system reports to balances

- Maintaining historical records.

- Paying employees by verifying expense reports and preparing pay checks.

- Paying vendors by scheduling pay checks and ensuring payment is received for outstanding credit; generally responding to all vendor enquiries regarding finance.

- Preparing analyses of accounts and producing monthly reports Continuing to improve the payment process.

- Drive timely and effective invoice and T&E processing to ensure that correct accounting entries are passed feeding to the relevant General Ledgers / cost centres. Preventing inappropriate / invalid payments being made resulting in potential operational losses.

- Driving increased productivity and reduced operational costs through implementation of standardized processes.

- Ensure the implementation, maintenance and communication of accurate standardized management information. Complete variance analyses to support financial and business management.

- Provide effective management direction to foster effective selection, development and reward of subordinates.

- Manage Purchase orders and operational procurement activities.