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Accounts Payable Executive - Finance Shared Services

Company Description

IFS is a billion-dollar revenue company with 6000+ employees on all continents. Our leading AI technology is the backbone of our award-winning enterprise software solutions, enabling our customers to be their best when it really matters–at the Moment of Service™. Our commitment to internal AI adoption has allowed us to stay at the forefront of technological advancements, ensuring our colleagues can unlock their creativity and productivity, and our solutions are always cutting-edge.

At IFS, we’re flexible, we’re innovative, and we’re focused not only on how we can engage with our customers but on how we can make a real change and have a worldwide impact. We help solve some of society’s greatest challenges, fostering a better future through our agility, collaboration, and trust.

We celebrate diversity and understand our responsibility to reflect the diverse world we work in. We are committed to promoting an inclusive workforce that fully represents the many different cultures, backgrounds, and viewpoints of our customers, our partners, and our communities. As a truly international company serving people from around the globe, we realize that our success is tantamount to the respect we have for those different points of view.

By joining our team, you will have the opportunity to be part of a global, diverse environment; you will be joining a winning team with a commitment to sustainability; and a company where we get things done so that you can make a positive impact on the world.

We’re looking for innovative and original thinkers to work in an environment where you can #MakeYourMoment so that we can help others make theirs. With the power of our AI-driven solutions, we empower our team to change the status quo and make a real difference.

If you want to change the status quo, we’ll help you make your moment. Join Team Purple. Join IFS.

Job Description

An Accounts Payable Executive at IFS is responsible for the timely and accurate invoice processing of IFS’s both external and internal suppliers. The role is focused on understanding the procurement to pay life cycle and ensuring timely readiness for payment, with relevant internal controls being followed and well within the credit terms agreed with suppliers.

The role requires strong attention to detail, excellent written and verbal communication skills, and an understanding of various local taxation requirements, which are essential and will be developed over time. In addition, an Accounts Payable Executive at IFS continuously expands their business process domain knowledge and supports the overall financial operations by maintaining efficient and compliant AP processes.

Primary job role:

· Ensure accurate data capture of invoices received through validation and internal control mechanisms.

· Review and verify employee expense reports for accuracy, compliance with company policies, and proper documentation.

· Co-ordinate with local Finance and Operations teams regarding to ensure that invoice submission instructions are adhered too and in accordance with contractual requirements.

· Ensure that appropriate accounting entries are recorded for all invoices raised in accordance with IFRS and IFS policies and processes.

· Ensure all expense reports are in line with company policies, travel guidelines, and regulatory requirements.

· Work with employees to educate them on the expense policy, providing guidance on acceptable expenses and documentation requirements.

· Understand and follow through on procurement policies.

· Respond to supplier invoice queries to ensure tasks are carried out timely and efficiently.

· Investigate and resolve any internal or external enquires related to supplier invoices.

· Processing of invoices in line with relevant procedures and agreed timelines and further ensuring the relevant approvals are in place.

· Perform all activities with a high level of accuracy and attention to detail.

· Complete all activities in accordance with IFS standard operating procedures.

· Accounts payable related month end activity procedures and support in both internal and external audits

· Ensure lowest levels of late interest fees and penalties that could be caused by delays from AP.

· Engage in process improvement opportunities and initiate relevant cost reduction practices to drive efficiency.

· Continuously expand your functional and technical domain knowledge which is a very important part of being at IFS.

Qualifications

  • Qualifications:

    · Bachelor’s degree in Accounting, Finance, Business Administration, or a related field.

    · 1-3+ years of experience in accounts payable or a related accounting function.

    · Strong knowledge of basic accounting principles and accounts payable processes.

    · Proficiency in Microsoft Excel and accounting software (experience with ERP systems like SAP, Oracle, or IFS is a plus).

    · Excellent organizational skills with strong attention to detail and accuracy.

    · Good problem-solving skills and the ability to work independently.

    · Strong communication and interpersonal skills for vendor and internal team interactions.

    · Experience in a high-volume AP environment or with multinational organizations.

    · Understanding of compliance and regulatory standards in accounts payable.

Additional Information

We believe that coming together as a community, in person, is important for innovation, connection and fostering a sense of belonging. Our roles have the right balance of remote and in-office working to enable flexibility for managing your life along with ensuring a real connection with your colleagues and the broader IFS community.

Average salary estimate

$50000 / YEARLY (est.)
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$40000K
$60000K

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What You Should Know About Accounts Payable Executive - Finance Shared Services, IFS

Are you ready to step into an exciting role as an Accounts Payable Executive at IFS in beautiful Colombo, Sri Lanka? At IFS, we pride ourselves on our innovative AI-driven technologies and the impact we make globally. As an Accounts Payable Executive, your contributions will be crucial in ensuring our financial operations run smoothly. You'll be responsible for accurately processing invoices from both external and internal suppliers, and you'll gain hands-on experience in the procurement to pay life cycle. Attention to detail is key, as you'll validate data capture of invoices and verify employee expense reports while ensuring compliance with our internal controls and local taxation requirements. Your excellent communication skills will come in handy as you coordinate with our Finance and Operations teams, educating employees on expense policies, and responding to supplier queries efficiently. For those who thrive in a dynamic work environment, this role offers fantastic opportunities for process improvements and efficiency initiatives. You’ll actively engage in maintaining our standards during month-end activities and audits, ensuring we minimize late fees. At IFS, we understand the power of diversity and collaboration, so you'll be joining a passionate and inclusive team that values every voice. If you're ready to challenge the status quo and make a tangible difference in our community, apply today and let’s create impactful moments together!

Frequently Asked Questions (FAQs) for Accounts Payable Executive - Finance Shared Services Role at IFS
What are the main responsibilities of an Accounts Payable Executive at IFS?

The main responsibilities of an Accounts Payable Executive at IFS include the timely and accurate processing of invoices for both internal and external suppliers, ensuring accurate data capture through validation mechanisms, reviewing employee expense reports, coordinating with local finance teams, managing accounting entries in line with IFRS and IFS policies, responding to supplier inquiries, conducting month-end activities, and identifying process improvement opportunities. This role requires strong attention to detail and excellent communication skills as you support IFS's financial operations.

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What qualifications do I need to apply for the Accounts Payable Executive position at IFS?

To apply for the Accounts Payable Executive position at IFS, candidates should possess a Bachelor’s degree in Accounting, Finance, Business Administration, or a related field. Additionally, 1-3+ years of experience in accounts payable or a related function is typically required. Strong knowledge of accounting principles, proficiency with Microsoft Excel and accounting software (particularly ERP systems like SAP, Oracle, or IFS), excellent organizational skills, and good communication abilities are essential qualifications for this role.

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How can I prepare for the Accounts Payable Executive role at IFS?

Preparing for the Accounts Payable Executive role at IFS involves gaining a solid understanding of accounts payable processes and accounting principles. Familiarizing yourself with local taxation requirements, procurement policies, and international financial reporting standards (IFRS) will also be beneficial. Additionally, honing your Excel skills and any accounting software experience will equip you well for the responsibilities involving invoicing and expense management.

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What skills are essential for an Accounts Payable Executive at IFS?

Essential skills for an Accounts Payable Executive at IFS include a keen attention to detail, strong organizational skills, excellent written and verbal communication skills, and the ability to problem-solve independently. Experience working in a high-volume accounts payable environment or with multinational companies is advantageous, alongside a solid understanding of compliance and regulatory standards in accounts payable.

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What type of work environment can an Accounts Payable Executive expect at IFS?

At IFS, an Accounts Payable Executive can expect a collaborative and inclusive work environment that values flexibility. The company promotes a blend of remote and in-office working, allowing team members to enjoy a balanced lifestyle while fostering a strong sense of community. This dynamic environment encourages innovative thinkers to contribute their unique perspectives in a space that supports growth and development.

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Common Interview Questions for Accounts Payable Executive - Finance Shared Services
Can you explain your experience with accounts payable processes?

In your answer, provide specific examples of your previous roles in managing the accounts payable process. Discuss how you ensured accurate invoice processing, your involvement in coordinating with suppliers, and how you have handled discrepancies or challenges in past experiences.

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How do you ensure the accuracy of processed invoices?

When answering, detail the steps you take to ensure accuracy in invoice processing, such as validating data against purchase orders, using checklists, and maintaining open communication with suppliers and team members to address any issues promptly.

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What strategies do you use to handle supplier queries effectively?

Articulate your approach to managing supplier queries, emphasizing the importance of timely responses, active listening, and thorough follow-up to resolve issues while maintaining professional relationships with vendors.

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How do you prioritize your tasks to meet deadlines in a high-volume environment?

Explain your organizational strategies, which could include utilizing task lists, calendar reminders, and categorizing tasks based on deadlines and urgency. Mention any tools you’ve used previously to enhance your efficiency.

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What accounting software are you familiar with, and how have you used it in past roles?

Detail the accounting software you have experience with (such as SAP, Oracle, or others) and highlight specific tasks you performed, such as processing invoices, generating reports, or facilitating month-end closings.

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Can you give an example of a process improvement you initiated?

Share a具体 example where you identified a gap in the process, proposed a solution, and implemented changes that led to increased efficiency or reduced costs. Use metrics if possible to showcase the impact of your initiative.

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Describe your understanding of compliance issues in accounts payable.

Discuss the importance of compliance in accounts payable, referencing local taxation requirements and accounting standards such as IFRS. Provide examples of how you have ensured adherence to these standards in previous roles.

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How do you maintain your knowledge of accounting principles and standards?

Explain your commitment to continuous learning, whether through formal education, professional development workshops, or self-study. Mention resources like accounting journals, webinars, or online courses that you utilize to stay current.

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What challenges have you faced in accounts payable, and how did you overcome them?

Provide a thoughtful response about a specific challenge, such as handling discrepancies or managing high volumes during peak times. Detail the actions you took to resolve the situation and the lessons learned from that experience.

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Why do you want to work as an Accounts Payable Executive at IFS?

Your answer should reflect your enthusiasm for the role and the company. Discuss your admiration for IFS's AI-driven solutions, its commitment to diversity, and how the company’s goals align with your professional aspirations.

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Social Impact Driven

At IFS we develop cloud enterprise software for companies who want to be at their best when it matters most to their customers - at the #MomentOfService. This idea resonates with customers, partners and analysts, and has helped fuel growth. But wh...

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Full-time, hybrid
DATE POSTED
December 10, 2024

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