Available Opportunities
VAC8728 - Manager, Payables
Field: Finance Contract Type: Full Time - Permanent
Location: Kuwait - Kuwait City Closing date: 31-Jul-2022
The Company:

Ooredoo is an organisation on the move. Thanks to our dedicated employees, we continue to move closer towards our vision to be among the top 20 telecommunications companies in the world by 2020.

We are a dynamic global telecommunications player operating in 17 countries across the Middle East, North Africa (MENA) and Asia. We cover a population of more than half a billion people and serve more than 68 million customers.

In Kuwait, we employ approximately 1,000 talented people, all of whom are driving Ooredoo to be the number one choice for world-class communications services in Kuwait. In the face of intensifying competition, increasingly sophisticated technology and rising customer expectations, nothing is more important to our success than our team – and it's a team that you can be part of.

Ooredoo's future is bright, and you can be part of our ongoing success.

The Purpose:
  • Supervise the Account Payable team  
  • Ensure that systems , policies and procedures adhere to company policies while functioning with accuracy & timelines
  • Responsible for cost accounting
  • End to End Process understanding of Inventory & Fixed Assets
  • Review the month closing activities
  • Supervise Bank & Vendor reconciliation
  • Oracle System knowledge & IFRS 16
  • Project Management
  • Support for Internal & External audits 
Key Accountabilities & Activities:
  • Monitoring the AP team to ensure that all the assigned activities are done on timely basis.
  • Ensure the accuracy, correctness and compliance to established practices of all accounting transactions within the area of authority.
  • Responsible for all the Account Payable process that involves activities of Document Management, Processing of Tradable & Non-Tradable Inventory, OPEX & CAPEX related invoices.
  • Adherence to the required approvals for all the processing related to Sponsorship, Customer Refund, Content Provider, Roaming, Petty Cash & others.
  • Coordination with SCM team and relevant user department for approved PO status and PO releases to ensure the 3 way matching process compliance.
  • Manage the bank guarantees received from vendors as part of the Contractual terms and conditions. Continuous monitoring on the system validation controls in Oracle Payment module
  • Keeping track of all the payments made in Oracle and ensure the same to be on QNB portal.
  • Ensuring the compliance with the Authority Matrix for all the payments made in system.
  • Coordination with all other departments in the Company to ensure proper clarifications are obtained before releasing the payments to vendors
  • Ensure the Regulatory payments on timely basis with required approvals.
  • Identification of the contracts contain leases that meet the new definition of the leases under IFRS 16
  • The practical expedients, discount rate, transition method all to be applied as per the management guidelines for all the leases of IFRS 16.
  • Prepare the checklist of all the new leases and ensure that all the details are updated on monthly basis.
  • Updating all the leases in Oracle Property Manager and also the renewal / termination of the leases on timely basis
  • Ensure all the invoices are pushed to AP – Invoice Module from Oracle Property Manager for the month relating to the leases by running the relevant programs
  • Closing of the Oracle Property Manager on monthly basis within ERP by running the requests.
  • Ensure on monthly basis that the accounting entries relating to IFRS 16 are pushed to GL.
  • Maintain the data update for pre-IFRS 16 for the current year of implementation and support the reporting team to have both pre & post IFRS 16 details by leases
  • Update the disclosure requirements of IFRS 16 for OK & also update the details required for the disclosure required for Group in the specific format.
  • Develop the reports required for the operational requirement and also for reporting purpose.
  • Coordinate with the relevant teams to process the cost related provisions based on the monthly provided details.
  • Review of the Number Cost & MNP provisions made on monthly basis with the workings of Port In, Port Out, Return In & Return Out received from BI team.
  • Ensure the accurate accounting for the Opex for all the GLs routing thru Purchase Orders and while booking the invoices during the month.
  • IFRS 15 MNP workings to be prepared on monthly basis with contract details of customers received from BI team report.
  • Preparation of monthly Network & IT cost summary based on the Purchase Orders released and information from related User departments to ensure adequate provision is made in the books of account
  • Analysing the opex cost for the operating expenses and non-operating expenses for the provision purpose.
  • Review the provision schedules on monthly basis.
  • Review and ensure accuracy of transactions while moving the transactions from AP sub ledger module to GL as part of the month closing process.
  • Review monthly prepaid schedules and amortization of expenses on a periodic basis.
  • Prepare forex revaluation for Advances and Vendors, on quarterly basis by passing relevant entries in GL module.
  • Ensure that the schedule of the fixed expenses / Network & IT related GLs are prepared on quarterly basis.
  • Review of Accounts Payable Trial Balance with Sundry Creditor GLs reconciliation on monthly basis.
  • Prepare the Advances ageing report and ensure the timely adjustment of the same. Also make sure to clear the long outstanding advances if any,
  • Prepare and record the intercompany (Ooredoo Group) invoices on a monthly basis. Highlight to the Director on any deviations noticed on the recharges made by Ooredoo Group.
  • Review the Intercompany transactions of Fast Telco & Phono.
  • Prepare the STM (Internet Charges) Schedule on monthly basis after considering the FT utilization as confirmed from Technology.
  • Ensure the reasons for the variances between the P & L and Balance Sheet GLs.
  • Identify the control accounts related to the AP area while booking the invoices and also indirectly relating to Fixed Assets & Inventory.
  • Other AP related control accounts that are used for the routine operational activities to be monitored on periodic basis.
  • Coordinate with relevant teams for the transactions impacting the control accounts.
  • All the discrepancies are to be timely resolved by taking proper actions and approvals if any.
  • Managing the project progress and adapt work as required.
  • Ensure that the project assigned to be completed on the agreed timelines.
  • Online payment processing (full H2H) to be implemented as per the Finance Management approval and make sure that the existing (Semi H2H) online processing system to be continued & working smoothly
  • Make sure of the project Procure to Pay (Ivalua System) to be implemented for the vendor registration approval process.
  • Participating in all the project meetings related to Accounts Payable areas and provide the feedback on the same to Director and Finance Management.
  • Support for the implementation of the approved project (ESS) for the related areas as confirmed by the Finance Management Participating in the Request for Proposal / Quotation meetings for both the Technical and Commercial openings from Finance along with SCM and User department.
  • Ensure that the defined process of the bidding is followed for the selection of the vendor especially on the commercial proposals received.
  • Verification of the charge account (GL code) assigned by the user while creating the Purchase Requisition.
  • Ensure proper GL code is selected for the Inventory, OPEX & CAPEX transactions.
  • Approve the PR for correct GL code selection push to SCM for PO approval process.
  • Supporting the review of the contracts for the payment terms for Projects and Others.
  • Responsible for Vendor Management in Oracle and vendor creation through Ivalua (Procure to Pay) system, database corrections of vendor information and handling exceptions.
  • Resolving the discrepancies with Vendors through meetings and providing relevant details as requested.
  • Review the aging of payables on a monthly basis and take appropriate actions (system issues or initiate the payment requests)
  • Sending the balance confirmations to the vendors on quarterly basis and taking appropriate actions in the books of account based on the balance confirmation received.
  • Make sure the standard reports from Oracle of AP Trial Balance are in line with the GL report.
  • For major vendors closely monitor the reconciliations and take the appropriate actions in GL or inform the vendors to make necessary adjustments in their books of account.
  • Review of Monthly bank statement reconciliation for bank accounts used for payment purposes i.e. QNB USD, QNB KWD & Burgan Bank KWD Accounts.
  • Identify the various reasons of the unreconciled and resolve the discrepancies’ on timely manner.
  • Coordinate with the relevant teams for the action to be taken for the pending unreconciled items
  • Coordinate with the Internal Audit team for their requirements and provide the required details.
  • Ensure that all the internal audit observations are resolved on timely basis with appropriate action.
  • Coordinate with the External Audit and provide all the audit requirements on quarterly / yearly basis.
  • Ensure that the highlighted observations from the External Audit are timely resolved.
  • Provide all the audit requirements for ICOFR for the AP related audit areas – Opex, FSCB, Procurement IFRS 16 and System Controls
  • Provide the ageing for the Balance Sheet GLs on quarterly basis
  • Provide the reasons for the P & L and Balance Sheet variances on quarterly basis.
  • Share the details of the Vendors as required for the Management Reporting
  • Prepare the IFRS 16 disclosures and other disclosures as required by Group on quarterly basis.
  • Monitoring the AP team to ensure that all the assigned activities are done on timely basis.
  • Ensure the accuracy, correctness and compliance to established practices of all accounting transactions within the area of authority.
  • Review the invoices, payments related to suppliers, customer refunds, commissions etc.
  • Ensure that there is fund availability to release the supplier and regulatory payments on due basis.
  • Review that there is proper booking of the Carrier related invoices, MOC on timely basis.
  • Review the monthly cost rent schedules. Review the bank reconciliations prepared on monthly basis.
  • Ensure that there are no long pending reconciliation items and are properly adjusted on timely basis.
  • Review the vendor reconciliations either on monthly / quarterly basis for all the major vendors.
  • Review the aging of payables on a monthly basis and take appropriate actions (system issues or initiate the payment requests)Ensure that all the pending transactions are booked in sub-ledger and are pushed to GL module on monthly basis
  • Review the prepaid schedules on monthly basis and ensure the amortization of the expenses.
  • Review the offsetting of the balances of AR & AP on timely basis.
  • Ensure that all the required provisions are booked in the system as per the approved PO / confirmation from the relevant department.
  • Review the ageing reports and disclosures provided as part of the closing.
  • 5-6 years of experience , financial accounting experience.
  • Good Accounting knowledge
  • Good knowledge of MS Office applications like Excel, Word etc.
  • Good knowledge on Oracle and IFRS 16
  • Good command of both written and verbal English, Arabic would be an advantage
  • Computer literate with an analytical and enquiring approach
  • Good understanding of Oracle & Other Systems
  • Cost Analysis
  • Team Management and Resource allocation
  • Project Management
  • Good interpersonal communication skills
Bachelor degree in Accounting and appropriate registration with a recognized professional institute / Certifications
Note: you will be required to attach the following:
1. Resume / cv