Accounts Payable Department - Supervisor
Saudi Telecom Company - STC
Total years of experience :21 years, 5 Months
• Full management and ownership of activities and operations in the accounts payable function for the company:
Verify invoices for accuracy and eligibility for payment.
Ensure timely payments for vendors and maintain accurate financial records.
Ensure all internal control procedures are in place to minimize risk; including segregation of duties, signatory rights, and financial compliance.
Validate any penalties resulting from delays
Review invoices for any withholding tax impact.
• Continuously improve the standards of the department and enhance performance
Special Projects:
• Participated in Creating AP/AR Netting Procedure for full reconciliation of suppliers invoices from Related finance functions
• Handling the cleansing and reconciliation of main vendors’ accounts such as Saudi Electricity Company file.
• Prepared AR reports, working as a hub serving GL, internal and external auditors:
Maintains adherence to internal accounting controls.
Resolving any AR related issues
Prepared and analyzed monthly aging report
Preparing and calculating bad debts and provisions reports
Special Projects:
• As part of the IFRS implementation project, reviewed customers’ contracts to validate the new IFRS 15 approach of recording revenues from Principle - Agent Perspective
• Participated in the planning phase and implementing the new VAT Project in STC reflection on billing system
•Setting up all prelaunch activities; financial, administration and governmental.
•Specifying the technical requirements for ERP system
•Supervising the ERP system installation, implementation and evaluation.
•Oversee the daily accounting activities required to maintain the general ledger.
•Supervise, direct, and review the work of the accounting staff (cash reconciliations, bank accounts statement reconciliations, check runs, accounts receivable transactions, fixed asset activity, payroll, accounts payable transactions, debt activity, recording of revenue and expenses).
•Cash management.
•Maintain organized set of detailed records and files to document financial transactions.
•Review general ledger on a monthly basis to ensure accuracy of posting.
•Coordinate monthly, quarterly, and annual closing activities.
•Produce quarterly and annual financial statements and financial reports.
•Respond to all audit requirements, quarterly and annually.
KEY ACCOUNTABILITIES:
Leading accounting Team:
•Managing the team to ensure that work is properly allocated and completed in a timely and accurate manner
•Supervise the general ledger group to ensure all financial reporting deadlines are met.
•Monitors and analyzes department work to develop more efficient procedures and use of resources while maintaining a high level of accuracy
•Advises staff regarding the handling of non-routine reporting transactions.
•Assist in development and implementation of new procedures and features to enhance the workflow of the department.
•Provide training to new and existing staff as needed.
•Handle personnel issues relating to staff conflicts, absenteeism, performance issues, etc.
•Work with each direct report to establish goals and Objectives for each year and monitor and advise on the progress to enhance the professional development of staff.
Financial Controller Support:
•Assist the Controller in the daily banking requirements
•Assist the controller in controlling payment of debtors and invoicing of creditors.
•Responds to inquiries from the CFO, Financial controller, and other finance managers.
•Work with the Controller to ensure a clean and timely year-end audit.
•Support controller with special projects and workflow process improvements.
Financial Statements:
•Ensure the timely reporting of all monthly financial information.
•Ensure an accurate and timely monthly, quarterly and year-end close.
Annual Accounts:
•Taking corrective actions for all points/ recommendations addressed by the audit, and ensures closing them in timely manner.
•Assisting in preparing the draft annual statutory accounts.
•Supervised general accounting and general ledger functions.
•Controlled all general ledger functions including the review of monthly journal entries.
•Conducted general ledger accounts analysis in addition to bank and petty cash reconciliations to maintain an error free process.
•Reviewed final general ledger reports and prepared the company’s internal financial statements and payroll.
•Prepared monthly financial reports and analyzed variances against the budget and previous months.
•Prepared payroll and employees’ income tax and social security.
•Supervised departmental accounting functions and coordinated the completion of periodic financials.
•Advised on accounting problems and assisted subordinate employees with work.
•Assisted external auditors at the end of the year and ensured the availability of all requested records
•Administered aging report accounts and distributed accounts on collection officers. Prepared the analysis required for the aging report. Solved customers’ complaints in order to collect money according to the terms of obligations.
•Kept accounting books & handled accounting information.
•Prepared Journal entries and posted them on accounting system.
•Closed monthly financial periods.
•Issued checks for payments, and handled bills & receipt vouchers.
•Kept records of official vouchers.
•Prepared Bank Reconciliation Statements.
•Handled the computation of the employees’ Income Tax on Salary.
•Prepared payroll sheet.
•Ensured complete revenues have been invoiced & reported.
•Prepared aging report on monthly basis.
•Conducted research for an in-depth understanding of clients’ industry and business.
•Set the audit approach for engagement.
•Designed appropriate procedures and audit programs.
•Developed the knowledge of junior team members by sharing best practices and providing regular coaching on the completion of their assigned sections.
•Monitored the progress of team members towards completion of work and adjusted work plan when necessary.
•Drafted complete financial statements and related notes and initial drafts of reports to clients.