Head of Accounts Payable

The Head of Accounts Payable is responsible for overseeing the accounts payable (AP) function across the organization, ensuring efficient and accurate processing of invoices and payments. This role includes managing the team, streamlining processes, maintaining compliance with financial regulations, and overseeing the submission and calculation of VAT. The Head of Accounts Payable will also collaborate closely with other finance functions and departments to support the organization’s overall financial health.

Responsibilities:

1. Accounts Payable operations:

• Oversee the end-to-end AP process, including invoice receipt, approval, payment processing, and reconciliations.
• Ensure timely and accurate processing of supplier payments, adhering to agreed-upon payment terms.
• Monitor and manage working capital through effective payment schedules and supplier negotiation.
• Oversee the accurate calculation and recording of accruals for expenses.
• Ensure timely recognition of prepayments, managing their proper allocation over the appropriate periods.
• Ensure the accurate recording and depreciation of fixed assets, including proper tracking of asset life and depreciation schedules.
• Manage the amortization of intangible assets (IA), property, plant, and equipment (PPE) in accordance with accounting policies and ensure compliance with relevant financial reporting standards.
• Ensure that depreciation and amortization expenses are correctly recorded and reflected in the management accounts during month-end and year-end close processes

2. VAT Submission and Calculation:

• Ensure the accurate calculation of VAT across all Maltese companies.
• Prepare and submit VAT returns in compliance with local regulations.
• Maintain up-to-date knowledge of VAT laws and regulations to ensure ongoing compliance.
• Act as the main point of contact for VAT-related queries and audits.

3. Team Leadership and Development:

• Lead, mentor, and develop the accounts payable team to achieve departmental goals.
• Conduct regular performance evaluations and provide feedback to team members.
• Foster a collaborative and positive work environment.

4. Process Improvement

• Identify opportunities for automation and process enhancements within the accounts payable function.
• Implement system improvements to increase efficiency and accuracy.
  

5. Compliance and Reporting

• Ensure compliance with internal controls, company policies, and external regulations.
• Prepare and present accounts payable reports to senior management.
• Support external audits by providing necessary documentation and explanations
• Produce regular reports on AP performance, including payment aging, cash flow forecasts, and efficiency metrics.

6. Cross-Functional Collaboration

• Work closely with the procurement, finance, and treasury teams to ensure alignment on payment terms and cash flow management.
• Act as a key liaison with vendors and internal stakeholders to resolve payment-related issues.

7. Strategic Contributions:

• Contribute to the development and implementation of financial strategies and policies.
• Provide insights and recommendations to support decision-making processes

• Bachelor’s degree in accounting, finance, or a related field.
• Professional accounting qualification (e.g., ACCA, CIMA, or equivalent) preferred.
• Proven experience in accounts payable management, including a thorough understanding of VAT regulations.
• Strong leadership and team management skills.
• Excellent analytical and problem-solving abilities.
• Proficiency in financial systems and tools (e.g., ERP systems such as Navision).
• Effective communication and interpersonal skills.
• Attention to detail and a commitment to accuracy.

Key Competencies:

• Leadership and people management
• Process optimization and innovation
• Compliance and regulatory expertise
• Collaboration and relationship building
• Strategic thinking and decision-making

• Great career development opportunities
• Hybrid working model
• International Health Insurance
• Health and Wellbeing Package (350 EUR per year)
• Birthday Day Off
• Me Time - 1 day off per year
• Lunches in the office for free

At GiG, we believe that diversity and inclusion are fundamental to our success as a multinational organization. We are committed to fostering a workplace where every employee feels valued and respected, regardless of their background, ethnicity, gender, age, or any other characteristic that makes them unique. By embracing a wide range of perspectives and experiences, we drive innovation, enhance collaboration, and build a stronger, more resilient company. Our diversity and inclusion initiatives aim to create an environment where everyone can thrive and contribute their best work, ensuring that our workforce reflects the diverse global communities we serve.