Accounts Payable Officer

Job Summary

The Accounts Payable Officer is responsible for managing the organization's payment processes by ensuring timely, accurate, and compliant processing of internal, supplier, statutory, and intercompany payments. The role supports financial reporting, reconciliations, month-end closing activities, audit requirements, and maintains the integrity of financial records while ensuring adherence to company policies and service level agreements (SLAs).

Key Responsibilities

• Process internal payments, including claims, override commissions, agent awards, cash advances, premium movements, premium refunds, and agent refunds within the established Service Level Agreements (SLAs).
• Process supplier payments within the agreed 30-day credit period.
• Ensure accurate processing and reconciliation of intercompany transactions.
• Process statutory payments, including taxes, SHIF, NSSF, PAYE, regulatory levies, and payroll deductions on a monthly basis.
• Perform monthly reconciliation of supplier accounts and control accounts, resolving outstanding items promptly.
• Support month-end and year-end closing activities, including preparation of intercompany journals, expense analysis, and management of open journal entries.
• Prepare audit schedules and provide supporting documentation for internal and external audits.
• Submit projected cash outflow requirements to the Treasury team for funding purposes.
• Maintain the integrity and accuracy of General Ledger accounts by posting adjusting journal entries where necessary.
• Reprocess returned or bounced payments within the required turnaround time (TAT).
• Prepare monthly Payables Dashboard reports and other financial reports as required.
• Conduct monthly balance sheet attestations and validate trial balance (TB) balances.
• Support continuous improvement initiatives to enhance payment processing efficiency and financial controls.
• Ensure compliance with company financial policies, accounting standards, and regulatory requirements.
• Build and maintain positive working relationships with internal departments, suppliers, auditors, and other stakeholders.
• Escalate financial risk events within the required 48-hour turnaround time.
• Perform other finance and accounting duties assigned by the immediate supervisor.

Educational Qualifications

• Bachelor’s Degree in Finance, Accounting, or a related field.
• Certified Public Accountant (CPA) qualification is required.

Experience Requirements

• Relevant professional experience in finance, accounting, or accounts payable functions.
• Experience working in the financial services industry is preferred.

Required Skills

• Strong knowledge of accounting principles, financial processes, and accounting systems.
• Proficiency in Microsoft Office applications, including Excel, Word, PowerPoint, and Outlook.
• Experience using Microsoft Dynamics or similar ERP/accounting systems.
• Excellent analytical and problem-solving skills.
• Strong written and verbal communication skills.
• Excellent interpersonal and stakeholder management skills.
• Strong organizational and time management skills.
• High level of accuracy and attention to detail.
• Ability to work under pressure and meet strict deadlines.
• Ability to maintain complete, accurate, and audit-ready financial documentation.
• High level of integrity, professionalism, and confidentiality.
• Adaptability to changing systems, technologies, and organizational procedures.
• Ability to work independently and collaboratively within a team environment.

Skills Required:

• Accounting / Finance