Finance Associate

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Job Purpose

The Accounts Payable Associate will be working on transactional level operations of AP processes, including employee claims, employee advances, vendor invoice processing, payments and vendor reconciliations. The role demands hands on experience on AP invoice processing, reconciliations, posting entries, data processing and attending to internal and external stakeholders’ queries.

Job Outline

At ISB, Finance plays a key role in controlling and managing the financials of the institute. The department also manages all the legal matters as well as all aspects related to statutory compliances.

The jobholder as Associate - Finance & Accounts reports to the Sr. Associate and performs a set of responsibilities – mainly related to vendor invoice processing, payments, vendor reconciliations, employee reimbursements, support monthly AP books closures, statutory compliance in invoice processing, accurate processing of transactions, employee claims settlement including credit cards, travel and advances.

The jobholder needs to be involved in transactional processing level operations of accounts payable on an ongoing basis including but not limited to the activities below.

Processing of travel and local conveyance claims submitted by employees. Manage tracking, settlement, and reconciliation of employee advances and corporate credit card usage. Ensure policy compliance and follow up on outstanding advances and claims.

Perform vendor invoice accounting and payment processing in alignment with credit terms and internal SLAs. Ensure 3-way matching of POs, GRNs, and invoices. Coordinate with Procurement and user departments for resolution of issues in invoices.

Maintain compliance with applicable regulations such as GST, TDS, and MSME. Periodical vendor reconciliations and obtain balance confirmations.

Coordinate with employees/vendors and address escalated payment or reconciliation issues.

The job holder needs to interact with Auditors and respond to queries and provide the necessary details.

Job Specification

Knowledge / Education -

Specific Skills -

Desirable Experience -

S. N,Key Responsibilities and % Time Spent

1 Perform vendor invoice accounting and payment processing in alignment with credit terms and internal SLAs. Ensure 3-way matching of POs, GRNs, and invoices. Coordinate with Procurement and user departments for resolution of issues in invoices. 25%

2 Support in book closure activities and MIS. Working with GL team on GL reviews, preparation of schedules and any other ad hoc activities as and when required in finance department 25%

3 Follow up with employees and process the employee credit card claims and ensure there are no old, unsettled claims in SAP and Darwinbox 15 %

4 Follow up with employees and process the employee travel & other advances and ensure there are no old, unsettled advances 15%

5 Support AP team on ad hoc activities like vendor reconciliations, MSME status identification, TDS reconciliations, vendor advances settlement, vendor account clearing 20 %