Accounts Payable Head 510 views48 applications

Job Description:

We are seeking an experienced Accounts Payable (AP) Specialist to join our team in Riyadh. The ideal candidate will be responsible for managing the full accounts payable cycle, ensuring timely and accurate processing of payments, and supporting financial reporting functions.

Key Responsibilities:

• Review and monitor due/overdue payments in the system.
• Assess available cash in the bank and forecast weekly balances.
• Review and update weekly payment plans.
• Evaluate advance payment requests from the Supply Chain team.
• Verify payments prepared by the AP team, including invoices, overdue payments, clearing, bank amounts, POs, GRs, etc.
• Initiate manual and bank system payments.
• Monitor GR/IR reports against invoices on a weekly basis.
• Approve new vendor setups, ensuring all details are entered accurately (e.g., bank details, credit terms, VAT, etc.).
• Finalize outstanding expense/invoice records for monthly closing.
• Review and analyze monthly AP reports, including aging, advance payments, CAPEX, OPEC, and open items.
• Monitor KPIs for AP, such as working capital, early payment discounts, etc.
• Conduct monthly reconciliations of AP balances, ensuring all suppliers are covered by year-end.
• Prepare analysis reports for suppliers, including cost price, expenses, petty cash, etc.
• Assist other departments with the monthly closing process.
• Ensure all payments are cleared and matched with related invoices in the system.
• Coordinate with auditors, providing necessary documentation for audit purposes.
• Prepare related-party movement reports and reconcile ledgers and sub-ledgers.
• Analyze logistics expenses by transporter and support the Supply Chain team with their expense tracking.
• Generate ad-hoc reports as required.
• Review and adhere to the monthly closing checklist to meet deadlines.

Required Skills & Qualifications:

• Proven experience in Accounts Payable (AP) management.
• Strong knowledge of SAP or similar accounting systems.
• Expertise in managing financial data, payment processing, and reporting.
• Detail-oriented with strong analytical and problem-solving abilities.
• Ability to work independently and meet deadlines.
• Knowledge of accounting principles and practices.

Preferred Qualifications:

• Bachelor’s degree in Accounting, Finance, or a relevant field.
• Previous experience in the FMCG industry is a plus.