Accounts Payable Specialist

Walaa Cooperative Insurance Co.; Al Khobar; On-site; SAR 150,000 - 200,000; Full time

Job summary

A prominent insurance company in Saudi Arabia is seeking an experienced accounts payable professional to manage the processing of high volumes of invoices and ensure compliance with financial regulations. The ideal candidate will have a degree in Accounting and 3-5 years of experience in accounts payable, along with knowledge of reinsurance accounting and relevant accounting software. This role requires attention to detail and the ability to work collaboratively across departments.

Qualifications

• Minimum of 3-5 years of accounts payable experience.
• Experience in insurance is a plus.
• Hands-on experience in invoice booking and operating expenses.

Responsibilities

• Process high volumes of invoices accurately.
• Perform invoice matching and variance reconciliation.
• Prepare and process payments in bank.

Skills

Accounts payable experience

Knowledge of reinsurance accounting

Experience with accounting software

Microsoft Office Suite proficiency

VAT handling

ERP systems knowledge (Oracle)

Education

Associate’s or Bachelor’s degree in Accounting or related field

Job description

Responsibilities

• Process high volumes of invoices accurately and in accordance with company policies.
• Perform invoice matching, variance reconciliation, and G/L coding.
• Prepare and process payments in bank including bank detail validation.
• Verify supporting documentation and ensure compliance with legal and regulatory requirements.
• Upload and manage bulk payments, ensuring timely approval from authorized signatories.
• Respond to accounts payable inquiries and resolve issues efficiently.
• Train and review the work of Accounts Payable trainees.
• Coordinate with internal departments and assist with month-end close and reporting.
• Calculate, review, and process broker commission payments per contractual agreements.
• Reconcile commission and reinsurance statements and resolve discrepancies.
• Process reinsurance payments in line with treaties and ensure timely settlement.

Education

• Associate’s or Bachelor’s degree in Accounting or related field preferred.

Experience

• Minimum of 3-5 years of accounts payable experience.
• Experience with accounting software and Microsoft Office Suite.
• Experience in insurance is a plus.
• hands‑on experience in invoice booking, VAT, operating expenses, and ERP systems (Oracle)
• Knowledge of reinsurance accounting and commission processing will be considered an added advantage