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


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  Support for Internal & External audits
  Key Accountabilities & Activities:
  

  
  


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  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.


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  Review the ageing reports and disclosures provided as part of the closing.
  Requirements:
  

  
  


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  ‎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
  Qualifications:
  

Bachelor degree in Accounting and appropriate registration with a recognized
professional institute / Certifications
Note: you will be required to attach the following:

‎1. Resume / cv