Accounts Payable Officer

The National Insurance Company – Daman; Abu Dhabi; On-site; AED 180,000 - 240,000; Full time

Job summary

The National Insurance Company – Daman in Abu Dhabi is seeking an experienced Accounts Payable professional to manage invoice processing, payments, and VAT compliance. The role also covers P&C insurance and reinsurance accounting, including reconciliation and month-end closing.

Ideal candidates hold a Bachelor's in accounting or finance with ACCA/CMA preferred, and have 5+ years in AP/finance within the insurance sector, plus ERP system experience (Oracle, SAP, Dynamics).

Qualifications

• Bachelor’s degree in accounting or Finance; ACCA/CMA preferred.
• 5 years in Accounts Payable/Finance; insurance or reinsurance accounting preferred.
• Experience with ERP systems (Oracle, SAP, EBS, Dynamics) preferred.

Responsibilities

• Accounts Payable Operations, Invoice Processing & Validation: Review supplier invoices, verify with POs/GRNs, ensure DOA approvals and correct GL coding.
• Payment Processing: Prepare and execute supplier payments, validate bank details and support cash flow planning.
• VAT & Regulatory Compliance: Review invoices for UAE VAT compliance and VAT recovery/no recovery.
• P&C Insurance and Reinsurance Accounting: Process reinsurance payments, reconcile SOAs, support month-end/year-end closing.

Skills

Accounts Payable

Financial controls

Compliance

VAT knowledge

Education

Bachelor's degree in accounting or Finance

ACCA or CMA certification

Tools

Oracle ERP

SAP

Microsoft Dynamics

Job description

Key Responsibilities:

• Accounts Payable Operations, Invoice Processing & Validation: Review and validate supplier invoices for accuracy, completeness, and supporting documentation. Ensure invoices are matched with approved Purchase Orders (POs) and Goods Receipt Notes (GRNs). Verify approvals in line with Delegation of Authority (DOA). Ensure correct accounting treatment and GL coding. Process invoices within agreed turnaround times and resolve discrepancies.
• Payment Processing: Prepare and execute supplier payment runs, ensure timely payments, validate bank details, review payment proposals, and support cash flow planning.
• VAT & Regulatory Compliance: Review invoices for correct VAT treatment, validate vendor VAT registration, ensure tax invoices meet UAE VAT requirements, verify recoverable and non-recoverable VAT, and support VAT return preparation.
• P&C Insurance and Reinsurance Accounting: Process facultative, treaty, and excess of loss (XOL) reinsurance payments, review bordereaux and settlement reports, perform reconciliation of Statements of Accounts (SOAs) with reinsurers and brokers, validate claim settlement amounts, and support month-end and year-end closing activities.

Qualifications and Experience:

• Bachelor’s degree in accounting or Finance, professional certification preferred such as ACCA or CMA.
• 5 years of experience in Accounts Payable and Finance with minimum 3 years in Insurance or Reinsurance accounting.
• Experience with ERP systems (Oracle, SAP, EBS, Dynamics, etc.) preferred.