disbursement Accounting specialistFWD

About FWD Life Insurance Corporation
FWD Life Insurance Corporation (FWD Insurance) is part of pan-Asian FWD Group. FWD Insurance launched its commercial operations in September 2014. As of end-2019, FWD Insurance ranks 1st in Customer Experience in the Philippines(1). FWD Insurance maintains its strong financial position as top 3 and 8 in terms of Paid-up Capital(2) and New Business Annual Premium Equivalent(3), respectively.
FWD Group spans Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan, and Malaysia, offering life and medical insurance, general insurance, employee benefits, Shariah, and Family Takaful products across a number of its markets. Established in Asia in 2013, FWD is the insurance business of investment group, Pacific Century Group. In the Philippines, FWD has 17 business hubs located in key cities nationwide, with its headquarters in Bonifacio Global City in Taguig.
FWD is focused on creating fresh customer experiences, with easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD aims to become a leading pan-Asian insurer that changes the way people feel about insurance.
For more information, please visit fwd.com.ph.
1 Based on a commissioned Customer Experience Index 2019, conducted by Forrester Consulting
2 www.insurance.gov.ph > Statistics > Life > 2019 > Based on Paid-Up Capital
3 www.insurance.gov.ph > Statistics > Life > 2019 > Based on New Business Annual Premium Equivalent
JOB PURPOSE:
The Disbursement Accounting Specialist is responsible for the accurate and timely processing of payments to vendors (local and foreign) and agents in accordance to FWD Governance Framework i.e. Authorization, Execution, Certification and Disbursements, ensures that RTR (Record to Report), including applicable taxes, are consistently done in accordance to defined Chart of Accounts, performs corporate card charges and vendor account reconciliation and provides support to Tax Manager.
KEY RESPONSIBILITIES:
A. Processes payment commitments of the company and ensures that these are accurately recorded in the books and are paid on time.
Conducts same day review of Payment Requests to determine validity and correctness (properly supported, authorized, contract, within plan, accurate footings/extensions) and returns the same to the requestors if PRF did not pass QA.
Coordinates with requestors issues identified during review of invoices, billings.
Records transactions in accordance to defined Chart of Accounts to ensure financial records are accurately reported.
Ensures that appropriate taxes are applied, that is withholding or final tax for every disbursement transaction.
Conducts AP Closing to reconcile payments vs. booked AP in the system.
Coordinates with Investment Specialist for funding requirements.
B. Handles corporate credit card-related tasks:
Facilitates requests for corporate card application and credit limit increase from employees by coordinating with the bank.
Reviews corporate card liquidation from cardholders and ensures that card charges are valid and appropriately substantiated before these are recorded.
Monitors corporate credit card limit and conducts regular analysis to ensure the Company is still within its approved aggregate limit and individual limits are sufficient to cover cardholders' monthly expenses.
Records monthly accrual of outstanding corporate card charges.
Prepares monthly balance sheet account reconciliation schedule for corporate card charges.
C. Coordinates with internal/external customers for any queries and resolves issues regarding unpaid invoices and payment details through vendor account reconciliation.
D. Monitors status of accruals and ensures that there is either re-accrual or record of actuals in the succeeding months.
E. Assists Senior Manager and Head of Disbursement Accounting on initiatives and projects.
F. Provides support to the Tax Manager especially on agents' tax queries.
REQUIRED SKILLS AND EXPERIENCE:
Accounting graduate, preferably Certified Public Accountant (CPA)
With at least 2 years work experience n related field
Familiar with and have background in Accounting systems
Communication: good oral and written communication skills
Problem Solving: provide resolution on vendor issues
Innovation: recommend process improvement through automation of manual process
Basic Technical Accounting Skills
High Analytical Skills
Knowledge on Tax
Customer Orientation and Business Partnering Skills
Time and Priority Management
Results orientation
Customer Led: Customer orientation and business partnering skills
Deliver the vision: Is able to describe what the plans are for own role and function and how they link to the company vision.
People orientated: Delegates work and supports team members to deliver on tasks. Seeks input from team and encourages cooperation towards team goals
Decision making: Involves relevant stakeholders in the decision making process. Recognizes opportunities or problems requiring attention and evaluates the benefits/risks of taking action versus inaction.
Market led: Identifies the importance of different markets, customers and emerging products and technologies relevant to own area
Strategy focused: Delivers against and support the Functions strategy and can articulate the link between the functions strategy and their own role
Cultural alignment: Actively seeks out and shares information about the company culture and acts accordingly as appropriate. Follows procedures, policy and cultural standards.
Drive results: Ensures role KPI's relate and contribute to the broader team objectives. Has specific and measurable goals and tracks progress against them.
Privacy Notice
Your privacy is a priority for FWD. The Company keeps your personal information with us in confidence. To know more about how we process your information, kindly refer to our FWD Recruitment Privacy Notice.
FWD has partnered with Talocity Instasolutions Private Limited ("Talocity") to manage the initial filtering of candidate's profiles through video interviews, social profile mapping, and video analytics using artificial intelligence engine that is offered within the Talocity platform. The platform evaluates the candidate on the five well-known dimensions as per OCEAN Personality Model that influence occupational success and help understand workplace behavior. For more information, please refer to Talocity Privacy Policy.
When you apply, FWD will share your name, phone number and email address to Talocity to contact you and conduct the initial screening and profiling process. Shortlisted candidates will then be contacted by FWD for the face-to-face interview.