The Payment Staff is responsible for handling the company's payment processes, ensuring accurate and timely disbursements across both local and overseas bank accounts. This role involves processing payments, handling vendor relations, reconciling payment transactions, and ensuring compliance with company policies and accounting standards in a shared service environment.
Key Responsibilities:
Payment Processing:
- Process payments to vendors, suppliers, and other parties, ensuring timely and accurate disbursement via both local and overseas bank accounts.
- Ensure payment transactions are accurately recorded in the company's financial system and comply with approved payment terms and agreements.
- Key person in the operational role of Payment for ERP implementation
Bank Reconciliation:
- Perform regular reconciliation of bank statements to ensure all payments and receipts are accurately recorded.
- Investigate and resolve discrepancies between bank records and internal payment data.
Payment Authorization; Documentation:
- Review payment requests and supporting documentation to ensure compliance with internal controls and approval policies.
- Maintain organized and up-to-date records of payment transactions for internal and external audit purposes.
Cross-Border Payments; Foreign Exchange:
- Manage international payments, international wire transfers, and overseas banking protocols.
- Ensure compliance with regulatory requirements and tax laws related to cross-border payments.
Vendor; Stakeholder Communication:
- Communicate with internal departments, vendors, and banks to resolve payment-related issues, discrepancies, or inquiries.
- Ensure timely resolution of issues related to payment delays or payment discrepancies.
Treasury & Banking:
- Prepare the daily cash position and support the supervisor in managing cash flow and cash flow forecast.
- Coordinate with Bank and Group Treasury for cash flow management and daily transactions, and document support bank as the business requirement.
Financial Reporting:
- Assist in the preparation of reports related to payment transactions, including cash flow forecasts, vendor payments, and payment trends.
- Provide accurate data for monthly, quarterly, and annual financial reports.
Compliance; Audit Support:
- Ensure adherence to company policies, internal controls, and regulatory requirements related to payment processing.
- Support internal and external audits by providing relevant payment documentation and assisting with audit queries.
Minimum Requirements:
Educational and Experience Requirements
- Bachelor's Degree: Most employers require a bachelor's degree in Accounting, Finance, Business, or a related field.
- Experience: Prefer or require up to 2 years of experience in an accounting or financial operations function, especially Payment and understand banking system related to payment. Experience in accounts payable (AP) or general ledger (GL) roles is a plus.
Key Skills and Competencies
Technical Skills:
- Accounting Software: Proficiency with common accounting software packages (e.g.,D365, SAP, etc) and enterprise resource planning (ERP) systems is often necessary.
- Microsoft Excel: Advanced Excel skills, including the ability to use functions like V-lookups and pivot tables, are a primary requirement.
- Basic Accounting Principles: A strong understanding of core accounting principles and practices is essential for tasks like bookkeeping, journal entries, and financial reporting.
Soft Skills:
- Attention to Detail: Accuracy is paramount in financial roles to prevent errors in records and reports.
- Analytical and Problem-Solving Skills: The ability to analyze financial data, reconcile statements, and identify discrepancies is crucial.
- Organizational Abilities: Strong organizational skills are needed to manage financial documents and meet strict deadlines.
- Communication Skills: Effective written and verbal communication is important for collaborating with team members and communicating with vendors.
