Accounts Payable Specialist

1 week ago

Khobar, Eastern Province, Saudi Arabia Walaa Cooperative Insurance Co. Full time

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

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