Finance Executive (Accounts Payable)

Income Insurance Limited; Singapore; On-site; SGD 42,000 - 72,000; Full time

Job summary

Income Insurance Limited in Singapore is seeking an Accounts Payable Operations professional to support daily vendor invoice processing, expense payments and staff reimbursements. You will review, code and post invoices accurately, verify documents and maintain vendor Master records.

You will handle accruals, prepayments, month-end close activities, and quarterly reporting, while identifying process improvements and ensuring compliance with internal controls.

Qualifications

• Degree or Diploma in Accountancy or equivalent.
• 2 to 3 years of Accounts Payable / Finance Operations experience.
• Preferably from a bank, financial institution, insurance company, or financial services environment.
• Experience handling monthly closing activities, including accruals and prepayments.
• Experience processing a high volume of invoices accurately and within deadlines.
• Strong Excel skills (Pivot Tables, VLOOKUP/XLOOKUP, data reconciliation).

Responsibilities

• Vendor invoices process - support daily vendor invoice processing and expense payments including.
• Review and post invoices accurately, ensuring compliance with company policies and correct expense coding.
• Verify supporting documents and ensure completeness of invoice submissions.
• Create, maintain and update vendor master records.
• Process a high volume of invoices within established service standards and timelines.
• Liaise with vendors and internal stakeholders to resolve invoice and payment-related queries.
• Staff Expense Claim management - support staff reimbursements including.
• Support the administration and processing of staff reimbursement claims in accordance with company policies and guidelines.
• Respond to and resolve staff queries relating to expense claims, reimbursement requirements and claim submissions.
• Liaise with employees and relevant stakeholders to obtain supporting documentation and clarification where required.
• Perform monthly validation checks on staff expense claims to ensure proper supporting documents and approval workflows are adhered to.
• Conduct bi-monthly audit reviews on staff claims to identify exceptions, non-compliance issues and potential control gaps.
• Support continuous improvement initiatives to enhance the efficiency and effectiveness of the staff expense claim process.
• Financial reporting & controls: support month-end and quarter-end closing activities, including accruals and prepayments.
• Perform quarterly expense reporting - Validate and review related-party transaction records to ensure completeness and accuracy.
• Support in Accruals and Prepayment: Expense Accrual Management - Support the overall expense accrual process and ensure expenses are recognized in accordance with established accrual guidelines and accounting policies.
• Accrual Reconciliation - Perform periodic reconciliation of accrued commissions and other expense provisions.
• Year-End Financial Close - Work closely with business units to ensure all expenses are accrued prudently and recognized in the appropriate accounting period.
• Prepayment and Amortization Monitoring - Monitor recurring prepayments and prepare monthly amortization journal entries.

Skills

Excel

Time management

Attention to detail

Independently work

Education

Degree or Diploma in Accountancy or equivalent

Tools

SAP

Oracle

Microsoft Word

Microsoft PowerPoint

Job description

Responsibilities:

Accounts Payable Operation:

Vendor Invoices process - Support daily vendor invoice processing and expense payments including:

• Review and post invoices accurately, ensuring compliance with company policies and correct expense coding.
• Verify supporting documents and ensure completeness of invoice submissions.
• Create, maintain and update vendor master records.
• Process a high volume of invoices within established service standards and timelines.
• Liaise with vendors and internal stakeholders to resolve invoice and payment-related queries.

Staff Expense Claim management - Support staff reimbursements including:

• Support the administration and processing of staff reimbursement claims in accordance with company policies and guidelines.
• Respond to and resolve staff queries relating to expense claims, reimbursement requirements and claim submissions.
• Liaise with employees and relevant stakeholders to obtain supporting documentation and clarification where required.
• Perform monthly validation checks on staff expense claims to ensure proper supporting documents and approval workflows are adhered to.
• Conduct bi-monthly audit reviews on staff claims to identify exceptions, non-compliance issues and potential control gaps.
• Support continuous improvement initiatives to enhance the efficiency and effectiveness of the staff expense claim process.

Financial reporting & controls:

• Support month-end and quarter-end closing activities, including accruals and prepayments.
• Perform quarterly expense reporting - Validate and review related-party transaction records to ensure completeness and accuracy.

Support in Accruals and Prepayment:

Expense Accrual Management

• Support the overall expense accrual process and ensure expenses are recognized in accordance with established accrual guidelines and accounting policies.
• Follow up with business users on monthly expense accrual information and prepare accrual journal entries.
• Prepare recurring monthly accrual entries within agreed timelines.
• Review accrual submissions from business users to ensure completeness, accuracy and compliance with accrual criteria.
• Ensure all accrual entries are processed in accordance with month-end and year-end closing schedules

Accrual Reconciliation

• Perform periodic reconciliation of accrued commissions and other expense provisions.
• Investigate and resolve reconciling items to ensure accuracy and completeness of accrual balances.
• Follow up with business users on unutilized or aged accrual balances and facilitate timely clearance.
• Maintain supporting schedules and documentation for audit and reporting purposes.

Year-End Financial Close

• Work closely with business units to ensure all expenses are accrued prudently and recognized in the appropriate accounting period.
• Prepare and maintain detailed year-end accrual checklists.
• Coordinate with stakeholders to validate expense provisions and ensure compliance with established accrual policies and guidelines.
• Ensure completeness of year-end accruals and timely completion of financial close activities.

Prepayment and Amortization Monitoring

• Monitor recurring prepayments and prepare monthly amortization journal entries in accordance with contractual terms and company policies.
• Follow up with business users on upfront payment arrangements and supporting documentation.
• Monitor prepayment schedules and liaise with business stakeholders on clawback, contract termination or adjustment requirements.
• Perform reconciliation of prepayment balances and amortization schedules to ensure completeness and accuracy.
• Maintain proper supporting documentation and ensure compliance with accounting and internal control requirements.

Process Improvement and others:

• Participate in job rotation within the Finance team to ensure business continuity and cross-functional support.
• Support system enhancement and implementation projects, including User Acceptance Testing (UAT), validation of business requirements and testing of system functionalities.
• Review, update and maintain Standard Operating Procedures (SOPs) to ensure processes remain current and compliant.
• Assist in identifying opportunities for workflow and process improvements to enhance operational efficiency and controls.
• Collaborate with internal stakeholders to resolve operational issues and improve service delivery.
• Perform any other ad hoc duties and responsibilities as assigned by the Manager.

Requirements:

• Degree or Diploma in Accountancy or equivalent
• 2 to 3 years of Accounts Payable / Finance Operations experience
• Preferably from a bank, financial institution, insurance company, or financial services environment
• Experience handling monthly closing activities, including accruals and prepayments
• Experience processing a high volume of invoices accurately and within deadlines
• Strong Excel skills (Pivot Tables, VLOOKUP/XLOOKUP, data reconciliation)
• Proficient in Microsoft Word and PowerPoint
• Experience with ERP systems (SAP, Oracle, Dynamics, etc.) is an advantage
• Able to work independently with minimal supervision
• Detail-oriented and accurate
• Good time management
• Responsible and proactive in resolving issuesAble to work under tight month-end timelines