Financial Operations Specialist
1 month ago
About Lubrizol
The Lubrizol Corporation is a specialty chemical company that utilizes science to deliver sustainable solutions for various industries. With over 100 manufacturing facilities and offices worldwide, Lubrizol employs approximately 8,000 people. For more information, visit www.Lubrizol.com.
We value diversity in professional backgrounds and life experiences, promoting an unbiased recruitment process to create a positive experience for candidates. We offer flexibility to accommodate unique work and life situations, ensuring our employees feel engaged and fulfilled.
Job Summary:
The position is responsible for accounts receivable management, including timely collection, customer credit management, accurate reporting, and banking compliance related to Import Payments. The position will cover the entire India geography, handling multiple legal entities (3) of Lubrizol's Accounts Receivables function.
Responsibilities:
- Periodic third-party customer reconciliation, quarterly/monthly confirmation with JV partners.
- Ensuring timely recording of customer receipts, debit notes/credit notes in line with approval policies and procedures.
- Timely creation of inter-company debit/credit notes.
- Accurate reporting of account receivables forecast for cash planning and follow-up.
- Continuous coordination with the Customer Experience Representative team for timely issuance of CN/DN for any shortages, Late delivery, and price differences related to customers.
- Timely follow-up of overdue invoices through account managers and manage DSO levels.
- Ensuring balances are reported correctly on trial balance.
- Customer credit limits are reviewed, monitored, and released on time.
- Ensuring withholding tax deduction by customer is reconciled, appropriately reported on 26AS and coordinate with direct tax team.
- Engage with account managers with relevant MIS on Accounts receivables and sales. Follow-up for overdue receivables.
Banking Compliance:
- Compliance of foreign remittances A1 and A2 in accordance with RBI rules and regulations.
Requirements:
- Bachelor of Commerce or similar qualification.
- Minimum 7 years of post-qualification experience in accounts receivable management and banking compliance post-import payments.
- Excellent in MS Excel.
- Working in SAP environment is a must.
- Working knowledge of FEMA, banking regulations is strongly recommended.
- Good in written and communication skills.
At Lubrizol, we are committed to providing an environment where every employee can be the best they can be, regardless of their ethnic origin, religion, sex, national origin, sexual orientation, gender identity, disability, or any other characteristic.
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