Accounts Payable Officer
Accounts Payable Officer
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Job Description
Job Purpose
The Accounts Payable Officer (Vendor Management) ensures accurate and timely processing of vendor payments while maintaining strong relationships with suppliers. The role is pivotal in managing vendor accounts ensuring compliance with financial policies and optimizing the accounts payable process
Vendor Account Management:
- Maintain accurate and uptodate records for all vendor accounts including contact details and payment terms.
- Review vendor contracts and ensure compliance with agreed terms and conditions.
- Resolve vendor inquiries and disputes in a timely and professional manner.
- Regularly reconcile vendor statements with internal records to identify and correct discrepancies.
Cost Reduction and Savings:
- Verify the accuracy and completeness of vendor invoices against purchase orders and delivery receipts.
- Process invoices promptly in compliance with organizational policies and payment schedules.
- Prepare payment batches for approval and ensure timely disbursement of funds.
- Maintain a detailed log of all transactions for auditing and reporting purposes.
Compliance and Risk Management:
- Ensure adherence to financial policies procedures and regulatory requirements in all accounts payable activities.
- Monitor and report any irregularities or potential fraud in vendor payments.
- Assist in internal and external audits by providing relevant documentation and explanations.
- Develop and implement controls to mitigate risks associated with accounts payable operations.
Vendor Relationship Management
- Build and maintain strong relationships with key vendors to enhance service quality.
- Communicate payment policies and expectations to vendors to ensure alignment.
- Collaborate with the procurement team to address vendorrelated issues and improve terms.
- Regularly evaluate vendor performance and provide feedback to ensure continuous improvement.
Process Optimization
- Identify inefficiencies in the accounts payable process and recommend improvements.
- Implement technology solutions to streamline invoice processing and payment workflows.
- Develop and document standard operating procedures for vendor management.
- Monitor performance metrics and ensure adherence to service level agreements (SLAs).
Reporting
- Prepare periodic reports on accounts payable performance including aging reports and payment status.
- Track and analyze vendor payment trends to optimize cash flow.
- Maintain records of discounts earned or missed and identify opportunities for cost savings.
- Generate reports for leadership on vendor spend and compliance.
Collaboration with Stakeholders
- Coordinate with the procurement and supply chain teams to ensure seamless vendor management.
- Partner with the finance team to manage cash flow and forecast payment requirements.
- Liaise with internal departments to resolve issues related to vendor payments.
- Represent the accounts payable function in crossdepartmental projects and initiatives.
Qualifications :
Educational Requirements
- Bachelors degree in Accounting Finance Business Administration or a related field.
- Masters degree in Finance or a related field is an added advantage.
Professional Requirements
- Certification in Finance or Accounting (ICAN CFA) is an added advantage.
Experience Requirements
- Minimum of 1 4 years of experience in accounts payable or vendor management preferably in the healthcare sector.
- Strong understanding of accounts payable processes vendor management and regulatory compliance.
- Experience with enterprise resource planning (ERP) systems for accounts payable.
Competency Requirements
Knowledge Requirement
- Indepth knowledge of accounts payable processes and controls.
- Understanding of healthcare procurement and vendor management requirements.
- Awareness of trends and technologies in financial operations and accounts payable.
- Familiarity with regulatory standards and compliance requirements in vendor management.
Skills Requirement
- Proficiency in ERP systems ( SAP Oracle) and financial software.
- Advanced Excel skills for data analysis and reporting.
- Strong knowledge of accounts payable and vendor management best practices.
- Familiarity with regulatory requirements for accounts payable in the healthcare sector
Personal Abilities
- Professional attitude towards work.
- Shares the AMCEs vision.
- Proactive and organized.
- Has personal and professional credibility and commands the respect of colleagues and peers.
- Supportive and approachable.
- Ability to adapt accordingly.
- High levels of honesty and integrity.
Additional Information :
African Medical Centre of Excellence Abuja (AMCE Abuja) aims to be an Employer of Choice providing equal opportunity for everyone regardless of their background gender race and other protected characteristics.
Remote Work :
No
Employment Type :
Fulltime
Employment Type
Full-time
