Accounts Payable Officer at Old Mutual Kenya

Job Description

The role is responsible for the accurate and timely settlement of all company commitments in accordance with operational policies and applicable accounting standards. The role holder ensures compliance by preventing irregular, fruitless, and wasteful expenditures, while maintaining efficient reconciliation processes, resolving discrepancies, and managing vendor relationships. This position holder supports the preparation of annual financial statements, monthly management accounts and audit activities by maintaining a clean, accurate accounts payable database and ledger. A strong focus on operational excellence, attention to detail, system proficiency, and continuous improvement is essential to meet stakeholder expectations and achieve zero operational losses.

Key Tasks & Responsibilities

• Process Internal payments within SLA e.g. claims, Override commissions, Agent awards, cash advances, premium movements, premium refunds & agents refunds.
• Process supplier payments within the 30-day credit period.
• Ensure accurate processing of intercompany transactions.
• Processing statutory payments e.g. taxes, SHIF, NSSF, PAYE, Regulatory levies and payroll deductions monthly.
• Monthly reconciliation of control accounts & suppliers and resolution of open items.
• Month end closure activities, intercompany journals, expense analysis in liaison with reporting team and open journals management.
• Prepare and provide audit support schedules.
• Timely submission of projected cash out-flow to treasury for funding purposes.
• Ensure integrity and accuracy of the General Ledger accounts and posting of adjusting entries.
• Reprocessing returned/bounced payments within TAT.
• Achieve Culture engagement scores as per guidelines.
• 48 hours turnaround time for risk event escalations.
• Monthly Balance sheet attestation and validation of TB balances
• Preparation of payables Dashboard report monthly

Skills And Competencies

• Strong financial and accounting knowledge, with solid understanding of key principles and standards.
• Excellent analytical and problem-solving abilities.
• High proficiency in both written and verbal communication.
• Strong interpersonal skills and ability to work effectively in a team environment.
• Adaptability to changes in procedures, technology, and organizational policies.
• Ability to work under pressure while maintaining accuracy and attention to detail.
• Strong organizational skills, with a focus on maintaining complete and audit-ready documentation.
• Ability to build and maintain positive stakeholder relationships.
• High level of professionalism, integrity, and commitment to confidentiality in handling financial information.

Knowledge & Experiences

• Strong knowledge of accounting systems, processes, and financial principles.
• Proficiency in Microsoft Excel, Word, PowerPoint, Outlook, and Microsoft Dynamics.
• Experience in the financial services industry

Qualifications

• Bachelor’s degree in finance, Accounting, or a related field.
• Certified Public Accountant (CPA) designation.
• Relevant experience in the financial services industry.