Manager, Payables

The Company

Ooredoo is an organisation on the move. Thanks to our dedicated employees, we
continue to move closer towards our vision to be among the top ‎20
telecommunications companies in the world by ‎2020.
We are a dynamic global telecommunications player operating in ‎17 countries
across the Middle East, North Africa (MENA) and Asia. We cover a population of
more than half a billion people and serve more than ‎68 million customers.
In Kuwait, we employ approximately ‎1,000 talented people, all of whom are
driving Ooredoo to be the number one choice for world-class communications
services in Kuwait. In the face of intensifying competition, increasingly
sophisticated technology and rising customer expectations, nothing is more
important to our success than our team - and it's a team that you can be part
of.
Ooredoo's future is bright, and you can be part of our ongoing success.
The Purpose
* Supervise the Account Payable team
* Ensure that systems , policies and procedures adhere to company policies while functioning with accuracy & timelines
* Responsible for cost accounting
* End to End Process understanding of Inventory & Fixed Assets
* Review the month closing activities
* Supervise Bank & Vendor reconciliation
* Oracle System knowledge & IFRS ‎16
* Project Management
* Support for Internal & External audits
Key Accountabilities & Activities
* Monitoring the AP team to ensure that all the assigned activities are done on timely basis.
* Ensure the accuracy, correctness and compliance to established practices of all accounting transactions within the area of authority.
* Responsible for all the Account Payable process that involves activities of Document Management, Processing of Tradable & Non-Tradable Inventory, OPEX & CAPEX related invoices.
* Adherence to the required approvals for all the processing related to Sponsorship, Customer Refund, Content Provider, Roaming, Petty Cash & others.
* Coordination with SCM team and relevant user department for approved PO status and PO releases to ensure the ‎3 way matching process compliance.
* Manage the bank guarantees received from vendors as part of the Contractual terms and conditions. Continuous monitoring on the system validation controls in Oracle Payment module
* Keeping track of all the payments made in Oracle and ensure the same to be on QNB portal.
* Ensuring the compliance with the Authority Matrix for all the payments made in system.
* Coordination with all other departments in the Company to ensure proper clarifications are obtained before releasing the payments to vendors
* Ensure the Regulatory payments on timely basis with required approvals.
* Identification of the contracts contain leases that meet the new definition of the leases under IFRS ‎16
* The practical expedients, discount rate, transition method all to be applied as per the management guidelines for all the leases of IFRS ‎16.
* Prepare the checklist of all the new leases and ensure that all the details are updated on monthly basis.
* Updating all the leases in Oracle Property Manager and also the renewal / termination of the leases on timely basis
* Ensure all the invoices are pushed to AP - Invoice Module from Oracle Property Manager for the month relating to the leases by running the relevant programs
* Closing of the Oracle Property Manager on monthly basis within ERP by running the requests.
* Ensure on monthly basis that the accounting entries relating to IFRS ‎16 are pushed to GL.
* Maintain the data update for pre-IFRS ‎16 for the current year of implementation and support the reporting team to have both pre & post IFRS ‎16 details by leases
* Update the disclosure requirements of IFRS ‎16 for OK & also update the details required for the disclosure required for Group in the specific format.
* Develop the reports required for the operational requirement and also for reporting purpose.
* Coordinate with the relevant teams to process the cost related provisions based on the monthly provided details.
* Review of the Number Cost & MNP provisions made on monthly basis with the workings of Port In, Port Out, Return In & Return Out received from BI team.
* Ensure the accurate accounting for the Opex for all the GLs routing thru Purchase Orders and while booking the invoices during the month.
* IFRS ‎15 MNP workings to be prepared on monthly basis with contract details of customers received from BI team report.
* Preparation of monthly Network & IT cost summary based on the Purchase Orders released and information from related User departments to ensure adequate provision is made in the books of account
* Analysing the opex cost for the operating expenses and non-operating expenses for the provision purpose.
* Review the provision schedules on monthly basis.
* Review and ensure accuracy of transactions while moving the transactions from AP sub ledger module to GL as part of the month closing process.
* Review monthly prepaid schedules and amortization of expenses on a periodic basis.
* Prepare forex revaluation for Advances and Vendors, on quarterly basis by passing relevant entries in GL module.
* Ensure that the schedule of the fixed expenses / Network & IT related GLs are prepared on quarterly basis.
* Review of Accounts Payable Trial Balance with Sundry Creditor GLs reconciliation on monthly basis.
* Prepare the Advances ageing report and ensure the timely adjustment of the same. Also make sure to clear the long outstanding advances if any,
* Prepare and record the intercompany (Ooredoo Group) invoices on a monthly basis. Highlight to the Director on any deviations noticed on the recharges made by Ooredoo Group.
* Review the Intercompany transactions of Fast Telco & Phono.
* Prepare the STM (Internet Charges) Schedule on monthly basis after considering the FT utilization as confirmed from Technology.
* Ensure the reasons for the variances between the P & L and Balance Sheet GLs.
* Identify the control accounts related to the AP area while booking the invoices and also indirectly relating to Fixed Assets & Inventory.
* Other AP related control accounts that are used for the routine operational activities to be monitored on periodic basis.
* Coordinate with relevant teams for the transactions impacting the control accounts.
* All the discrepancies are to be timely resolved by taking proper actions and approvals if any.
* Managing the project progress and adapt work as required.
* Ensure that the project assigned to be completed on the agreed timelines.
* Online payment processing (full H2H) to be implemented as per the Finance Management approval and make sure that the existing (Semi H2H) online processing system to be continued & working smoothly
* Make sure of the project Procure to Pay (Ivalua System) to be implemented for the vendor registration approval process.
* Participating in all the project meetings related to Accounts Payable areas and provide the feedback on the same to Director and Finance Management.
* Support for the implementation of the approved project (ESS) for the related areas as confirmed by the Finance Management Participating in the Request for Proposal / Quotation meetings for both the Technical and Commercial openings from Finance along with SCM and User department.
* Ensure that the defined process of the bidding is followed for the selection of the vendor especially on the commercial proposals received.
* Verification of the charge account (GL code) assigned by the user while creating the Purchase Requisition.
* Ensure proper GL code is selected for the Inventory, OPEX & CAPEX transactions.
* Approve the PR for correct GL code selection push to SCM for PO approval process.
* Supporting the review of the contracts for the payment terms for Projects and Others.
* Responsible for Vendor Management in Oracle and vendor creation through Ivalua (Procure to Pay) system, database corrections of vendor information and handling exceptions.
* Resolving the discrepancies with Vendors through meetings and providing relevant details as requested.
* Review the aging of payables on a monthly basis and take appropriate actions (system issues or initiate the payment requests)
* Sending the balance confirmations to the vendors on quarterly basis and taking appropriate actions in the books of account based on the balance confirmation received.
* Make sure the standard reports from Oracle of AP Trial Balance are in line with the GL report.
* For major vendors closely monitor the reconciliations and take the appropriate actions in GL or inform the vendors to make necessary adjustments in their books of account.
* Review of Monthly bank statement reconciliation for bank accounts used for payment purposes i.e. QNB USD, QNB KWD & Burgan Bank KWD Accounts.
* Identify the various reasons of the unreconciled and resolve the discrepancies' on timely manner .
* Coordinate with the relevant teams for the action to be taken for the pending unreconciled items
* Coordinate with the Internal Audit team for their requirements and provide the required details.
* Ensure that all the internal audit observations are resolved on timely basis with appropriate action.
* Coordinate with the External Audit and provide all the audit requirements on quarterly / yearly basis.
* Ensure that the highlighted observations from the External Audit are timely resolved.
* Provide all the audit requirements for ICOFR for the AP related audit areas - Opex, FSCB, Procurement IFRS ‎16 and System Controls
* Provide the ageing for the Balance Sheet GLs on quarterly basis
* Provide the reasons for the P & L and Balance Sheet variances on quarterly basis.
* Share the details of the Vendors as required for the Management Reporting
* Prepare the IFRS ‎16 disclosures and other disclosures as required by Group on quarterly basis.
* Monitoring the AP team to ensure that all the assigned activities are done on timely basis.
* Ensure the accuracy, correctness and compliance to established practices of all accounting transactions within the area of authority.
* Review the invoices, payments related to suppliers, customer refunds, commissions etc.
* Ensure that there is fund availability to release the supplier and regulatory payments on due basis.
* Review that there is proper booking of the Carrier related invoices, MOC on timely basis.
* Review the monthly cost rent schedules. Review the bank reconciliations prepared on monthly basis.
* Ensure that there are no long pending reconciliation items and are properly adjusted on timely basis.
* Review the vendor reconciliations either on monthly / quarterly basis for all the major vendors.
* Review the aging of payables on a monthly basis and take appropriate actions (system issues or initiate the payment requests)Ensure that all the pending transactions are booked in sub-ledger and are pushed to GL module on monthly basis
* Review the prepaid schedules on monthly basis and ensure the amortization of the expenses.
* Review the offsetting of the balances of AR & AP on timely basis.
* Ensure that all the required provisions are booked in the system as per the approved PO / confirmation from the relevant department.
* Review the ageing reports and disclosures provided as part of the closing.
Requirements
* ‎5-‎6 years of experience , financial accounting experience.
* Good Accounting knowledge
* Good knowledge of MS Office applications like Excel, Word etc.
* Good knowledge on Oracle and IFRS ‎16
* Good command of both written and verbal English, Arabic would be an advantage
* Computer literate with an analytical and enquiring approach
* Good understanding of Oracle & Other Systems
* Cost Analysis
* Team Management and Resource allocation
* Project Management
* Good interpersonal communication skills