Team Member - Accounts Payable

About the Role and Organization

The Team Member role in Accounts Payable focuses on ensuring precise accounting and timely payments to vendors and employees. It requires strict adherence to policy compliance, internal controls, and risk management in expense processing. Responsibilities also include managing fixed assets records, tax compliance across transactions, and reconciling related account balances within the organization.

Organizational Context

This position operates within Aditya Birla Health Insurance Company Ltd, based in the G cop – HO, Thane location under the Accounts department. Reporting lines include the Head of Accounts Payable & Taxation and Accounts Payable Managers.

Job Purpose

The purpose of this role is to guarantee the accurate and compliant processing of expenses and payments, control over organizational assets, and effective tax compliance, supporting sound financial operations.

Key Responsibilities

• Manage payments operations including disbursal of funds to employees and vendors.
• Handle employee transactions across multiple locations.
• Review expenses and prepare management information system (MIS) reports for senior leadership.
• Drive automation and process enhancement to reduce manual efforts, improve vendor experience, and enforce stringent payment controls.
• Ensure proper petty cash management for approximately 60 branches, including timely fund transfers.
• Address and resolve exceptions and escalations from vendors and branches promptly.
• Maintain documentation for internal control over financial reporting and conduct physical verification of assets against books.
• Maintain compliance with organizational financial directives and audit requirements.
• Effective coordination with internal functions to resolve outstanding queries in a timely manner.

Industry Overview and Challenges

Aditya Birla Health Insurance operates in a competitive and evolving health insurance sector within India, focusing on innovative and customer-centric health insurance solutions. The company emphasizes digital operations and comprehensive wellness programs as part of its unique market proposition. Challenges include capturing greater market share through tailored product offerings and expanding channel partner networks.

Key Result Areas

• Vendor/Broker Invoice and Employee Reimbursement Processing: Ensure accuracy of invoices with correct General Ledger codes and cost centers; comply with service level agreements; respond promptly to queries; enforce internal controls and procurement policies; assist with audits; and prepare performance dashboards.
• Expense Provisioning and Analysis: Maintain expense visibility through timely sharing of provisions and monthly expense tracking and analysis.
• Automation and Process Excellence: Lead initiatives to automate payment workflows, enhance vendor/employee experience, and develop control reports for exception tracking.
• Petty Cash Management: Administer petty cash funds across branches ensuring timely disbursal and monthly expense tracking.
• Monthly Expense Tracking: Monitor and report expense control metrics, identify trends and anomalies for management review, and implement financial risk mitigation controls.
• GL Code Reconciliations: Perform timely reconciliation of all GL codes within defined turnaround times and report outcomes appropriately.

Relationships

Regular interaction with internal departments and employees to process vendor invoices, address tax and system queries. Engagements with external vendors and auditors occur as needed for reporting, query resolution, and reconciliations.