Analyst - Settlements

3 weeks ago

Mumbai, Maharashtra, India Trafigura Full time
Job Description

Main Purpose:

. Ensure the company receives payments from external counterparties for goods and services, properly recording
the transactions by posting sales invoices in line with established policies and procedures, in an efficient, timely
and accurate manner
. Ensure payment to external counterparties are completed, and expenses are controlled, by processing, verifying.
and reconciling invoices according to established policies and procedures in an efficient, timely and accurate manner
. Ensure prompt cash collection as per contractual terms and targets for all Trafigura group entities
. Manage relationships with the external counterparties related to AP / AR queries, issues.
. Take all necessary actions, in compliance with organization policies and procedures, as well as external regulations to reduce exposure to potential bad debt

Knowledge Skills and Abilities, Key Responsibilities:

Ensure timely and accurate invoice posting for account payable and account receivable related to cargo and non-cargo expenses and income

Account Receivable

- Verifying supporting documents against data entry in respective systems, and raising any query to relevant department in case of inconsistent data.
- Monitoring task prompts and reports identifying the Account Receivable to be invoiced (provisional, final, invoice for differential, recharge with external counterparties).
- Capturing and posting sales invoices, credit notes (AR Invoice) for sales and services rendered, recharge to external counterparties.
- Issuing document in conformity with all the details and specific requirements for each transaction and counterparty.
- Liaising with internal departments in case of claim from buyer related to AR invoice discrepancy.

Account Payable

- Controlling incoming invoices, credit/debit notes (AP invoice) for cargo and non-cargo from external counterparty are compliant with contractual terms, internal/external regulations and tax requirements.
- Matching payable estimates / purchase orders to invoices in respective systems associated to the corresponding transaction.
- Posting AP invoices, related to cargo and trade expenses, to relevant analytical level and/or cost centers by analyzing invoice vs expense and recording entries.
- Liaising with internal departments in case of discrepancies between estimates / purchase order and Invoice.

Debtor and Creditors Management

- Overseeing the effective collection of company debt and vendor payables
- Taking all necessary actions to collect any outstanding amount and ensuring that contractual payment terms are respected
- Liaising with counterparty to ensure timely cash collection (obtain swift copy as cash forecast evidence)
- Chasing debt by telephone, email and reducing debtor days
- Setting up a system of reminders and statements to press for payment in a professional but forceful way
- Processing and generating reminder letters and monthly statements to counterparties
- Monitoring Aged reports, Creditor/Debtor balances in relevant systems, consolidate positions and take all necessary actions to keep such balances to a minimum
- Updating monitoring system(s) for analysis of outstanding debts, debtor and creditor account balances and
- Identifying those that require actions
- Reporting regularly to internal stakeholders on outstanding accounts
- Replying to internal queries on suspense account
- Providing cash allocation details in accordance with customer remittances and customer account reconciliation whenever required
- Verifying vendor accounts by reconciling monthly statements
- Managing vendors queries on AP Invoice payment
- Reporting monthly Key Performance Indicators for the desk
- Monitoring, invoicing and checking late payment interest on overdue (AP/AR)
- Coordinating whenever required with Trading, Deal Desk, Operations, Trade Finance, Treasury, Accounting, and
- Settlement Teams to resolve outstanding queries related to unpaid AP and AR.
- Communicating with external counterparties

Knowledge, Skills and Abilities

- Fluent in English both written and spoken
- Bachelor degree or equivalent in Business administration Supply Chain or international trade (Import/export)
- 2-3 years or presently working in similar position
- Knowledge of general accounting principles, regulatory standards and compliance requirements
- Strong interest and first experience in physical commodities trading
- Proficient in MS office, including ability to operate computerized accounting and spreadsheets programs simultaneously, at ease in a multi-software environment
- General math skills
- Able to work independently, under pressure and in a methodical, detailed and accurate fashion
- Able to process large amount of information / documents quickly and accurately
- Able to quickly find key information in multiple documents
- Excellent data entry skills
- Fast learner and comfortable operating in a fast-paced environment.
- Very good communicator
- Flexible nature
- Team player

Competencies

- Customer Focus :

- Diplomatic with strong external /internal customer orientation

- Communication :

- Very clear and precise communicator both verbally and in writing.
- Good Listener and shares ideas /solutions

- Team Work :

- Team Player possesses an ability to work and integrate with other teams

- Initiative :

- Proactive, ability to think ahead to avoid problems.
- Drives processes and tasks to achieve required results

- Innovation :

- Comes up with resourceful ideas and solutions related to his/her duties

- Ownership & Accountability:

- Demonstrate a sense of urgency and ability to meet deadlines
- Takes ownership of own decisions and actions - successes and mistakes

- Management

- Gives timely, constructive and specific feedback
- Able to differentiate between main issues and side issues

- Detail orientation:

- Highly organized and very methodical.
- High level of endurance for file follow up
- Very Strong Attention to detail, high degree of accuracy

Key Result Areas (KPI's)

- Number of AP and AR invoices processed
- Delay on invoice posting
- Vendor payment processing cycle
- Vendor payment error rate
- DSO

Key Relationships and Department Overview:

Key Relationships

- Operations
- Deal desk
- Trade Finance
- Treasury
- Trading
- Settlement Team
- External counterparties

Department Overview

- Reporting directly to AP & AR Administration Manager

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