Executive - Finance Operations

Executive – Finance Operations

Union Assurance is a leading corporate and the fastest growing entity in the Life Insurance industry backed by the strength and stability of John Keells Holdings PLC, one of Sri Lanka's largest conglomerates.

The Job:

The person will be responsible for managing the accounts’ payable function and oversee the processing and payment of invoices, the management of vendor relationships, and the maintenance of accurate financial records

Key Accountability:

• Act as a secretary to the Spend Control Committee and ensure all payments including capital expenditure are made in accordance Manual of Financial Authority (MOFA), approved budget & procurement practices of the Company
• Develop processes for payments and processing payments to vendors, customer claims, agents and payment to employees, ensuring timely and accurate payment of invoices along with reimbursements
• Review and process invoices based on the delegation authority received, ensuring accuracy and completeness of information
• Maintain relationships with vendors, ensure that all the queries or inquiries are resolved, and any issues or disputes are addressed.
• Oversee processing of foreign payments and tax payments within the agreed Service levels
• Liaise and deal with respective banks to ensure smooth payment processing.
• Address the queries placed by employees regarding reimbursements, salaries and other employee payments.
• Monitor and address the claim requests as well, make the payment post conducting the required checks and verification.
• Oversee and ensure reconciliation for accounts payable balances to vendor statements and resolving any discrepancies.
• Update and analyze accounts payable reports, such as aging reports, payment histories and vendor spend analysis.
• Manage vendors advances as per Company policy and ensure adequate controls to ensure compliance with tax laws and to avoid risk of duplicate payments.
• Ensure timely and accurate payments to the bank partners, liaise with the respective bank channel, to cross check accuracy of the payments
• Attend queries related to the life operations team on premium reversing, providing comments on premium mismatching
• Conduct sample audit of invoice processing as per the requirement and highlight discrepancies, if any
• Identify opportunities to improve the accounts payable process, such as implementing automation or streamlining workflows.
• Lead and coach accounts payable associates, including training, performance management, and development.
• Ensure compliance with company policies and procedures, as well as applicable laws and regulations

Qualifications and Experience:

• Bachelor’s degree in finance/accounting from a recognized university/ Institute
• Minimum 3 years of experience in finance operations from Insurance industry or a related field.
• Part qualification in CA/ACCA/CIMA will be an added advantage.
• Ability to work under minimum supervision, multi-task and work under pressure
• A self-motivated individual as well as a team player
• Impeccable attention to detail with quality focus

The selected candidate for the above position will be entitled to an attractive remuneration package. Applicants who are interested are encouraged to apply on or before 26th August 2025.