Accounts Payable Accountant

Job Description

Accounts Payable AccountantGeographical Area Under Responsibility/Brand/Function: UAE, Financial Control and Reporting (FC&R)Reporting To: Reporting and Accounting ManagerLocation: Dubai, United Arab EmiratesPrimary DutiesAs part of the FC&R Accounts Payable team, the Accounts Payable Accountant is responsible for ensuring accurate and timely processing of supplier invoices that are compliant with UAE VAT and Richemont standards. Working closely with the FC&R General Ledger team, the Accounts Payable Accountant will support balance sheet account reconciliations and the management of CAPEX entries. As a key point of contact for Maisons, Richemont Functions and suppliers, the Accounts Payable Accountant plays an important compliance role to ensure policies and procedures are adhered to.The primary duties of the position include:

• Ensuring supplier invoices are compliant with local regulations, Richemont standards and are accurately processed withing established deadlines.
• Working closely and coordinating with Maisons, Richemont functions and suppliers to identify issues that may delay to processing and payment of invoices.
• Supporting the General Ledger team with the month-end closing processes, including analysis of vendor and balance sheet accounts.

Key ResponsibilitiesAccounts Payable

• Undertake in a timely and accurate manner the reception, validation and booking of supplier invoices in line with UAE VAT requirements and Richemont procedures.
• Ensure processing targets are met as stated in the Service Level Agreement between the Accounts Payable team and Richemont Maisons & Functions
• Regularly review the status invoices processed in Richemont?s ERP system, ensuring any invoices rejected or unapproved are resolved in a timely manner.
• As part of the weekly payment cycle review and validate supplier invoices for payment prepared by the Tax and Treasury team.
• Review supplier advance payments, and Post Dated Cheques, liaising with suppliers to ensure invoices are received and allocated in a timely manner.
• Review and validate employee business expense claims and petty cash acquittals entered in SAP Concur to ensure compliance with Richemont procedures.
• Monitor employee business expense claims to ensure the submission of expenses are done within the required deadline, and escalating any aging or unapproved claims to the Reporting and Accounting Manager.
• Provide training and assistance to Richemont employees on Concur (business expenses) and SAP Accounts Payable processes.
• Review and suggest improvements to procedures and process that increase efficiency and accuracy.
• Respond to queries from Maisons/Functions, suppliers, other finance departments as required.

General Ledger

• Support the General Ledger team to reconcile supplier/vendor accounts as part of the month end closing process.
• Provide a list of the approved unpaid invoices and open purchase orders to the Financial Planning and Analysis team for review and to be accrued as part of the month end closing process.
• Support the General Ledger team to review balance sheet accounts, including advance payments to vendors, Trade Creditors and CAPEX, with attention given to, open purchase orders, postdated cheques, goods received-/ invoices received (SAP) and credit notes (SAP) as part of the month end closing process.
• Manage the creation, activation, and disposal of assets under CAPEX in SAP covering Assets Under Control activation, depreciation, asset posting injunction with the Maisons and Financial Planning and Analysis team.
• Working closely with the General Ledger team, support the Fixed Asset reconciliation and count as per Richemont policies and procedures.
• Other ad-hoc tasks as required.

Audit and Internal Control

• Support and assist with internal and external audits as required, and implement any recommendations to improve procedures and processes.
• Undertake as required by the ICS team regular tests of controls with adequate supporting documentation to demonstrate compliance.
• Perform balance confirmations on selected accounts and check in line with internal control requirements

Key Stakeholders

• FC&R teams ? General Ledger, Tax & Treasury, Reporting & ICS.
• Richemont functions and Maison teams
• Suppliers

Key RequirementsEducation

• B.Com/ Finance Graduate, accounting certification and professional qualification is an advantage

Experience

• A minimum of 5 years of proven experience in finance and accounting, exposure in luxury goods/retail industry would be an advantage

Technical Skills

• Strong Accounting background
• Knowledge of computerized accounting system ? especially SAP
• Knowledge of International Accounting Standards / IFRS
• Good knowledge of UAE VAT regulations
• Excellent knowledge of Microsoft software (Teams, SharePoint and other applications)

Personal Skills / Qualities

• Excellent analytical and problem-solving skills
• Exceptional attention to detail.
• Demonstrated collaboration and communication skills, in a diverse and complex environment.
• The ability to plan and manage time-and organize multiple tasks while adhering to deadlines.
• Demonstrated compliance competences, particularly related to accounting standards and polices.
• High level of personal integrity, and a proven ability to managed confidential information
• Ability to work independently

Work Environment & CultureRichemont is offering you a great opportunity to work in a reputable and professional leading Company in the Luxury Industry.Become a part of a Creative, Ambitious & Diverse team, and take your decisive step towards your career development within our organization.

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