Executive – Finance Operations

Location: Colombo, Sri Lanka

Company Overview

Union Assurance PLC is a leading corporate and one of the fastest-growing entities in the Life Insurance industry. Backed by the strength and stability of John Keells Holdings PLC, one of Sri Lanka’s largest conglomerates, the company provides a high-performance environment built on a foundation of excellence and reliability.

Role Summary

The Executive – Finance Operations is responsible for managing the Accounts Payable function. This role oversees the end-to-end processing of invoices, vendor relationship management, and the maintenance of meticulous financial records. The successful candidate will ensure all disbursements align with corporate governance and regulatory standards while driving process efficiency.

Key Responsibilities

Governance & Process Management

Spend Control: Serve as the Secretary to the Spend Control Committee, ensuring all capital and operational expenditures comply with the Manual of Financial Authority (MOFA) and procurement policies.
Process Development: Design and maintain streamlined workflows for payments to vendors, customers, agents, and employees, ensuring accuracy and timeliness.
Compliance & Audit: Conduct sample audits of invoice processing to highlight discrepancies and ensure adherence to company policies, tax laws, and accounting standards.

Operational Execution

Payment Processing: Oversee foreign currency payments, tax settlements, and bank partner transfers within agreed service levels (SLAs).
Verification: Review and process invoices based on delegated authority, ensuring all documentation is complete and accurate.
Reconciliations: Manage accounts payable reconciliations against vendor statements and resolve any outstanding discrepancies promptly.
Reporting: Update and analyze critical AP reports, including aging reports, payment histories, and vendor spend analysis.

Stakeholder & Vendor Relations

Vendor Management: Maintain professional relationships with vendors, resolving disputes and inquiries to ensure a smooth supply chain.
Internal Collaboration: Address employee queries regarding salaries and reimbursements, and coordinate with Life Operations regarding premium reversals and mismatches.
Banking Liaison: Partner with banking institutions to facilitate seamless payment processing and verify payment accuracy.

Leadership & Improvement

Team Development: Lead and coach Accounts Payable associates through training, performance management, and professional development.
Continuous Improvement: Identify opportunities to implement automation or streamline workflows to enhance the efficiency of finance operations.

Qualifications & Skills

Experience & Education

Experience: Minimum of 3 years of experience in a similar finance operations role.
Industry Preference: 2–3 years of experience within a Life Insurance company is a significant advantage.
Education: Bachelor’s Degree in Accounting, Finance, or Management from a recognized university.
Professional Qualification: Completion of CASL, ACCA, or CIMA is essential.

Technical Competencies

Software Proficiency: Advanced skills in MS Office and SAP.
Accounting Standards: In-depth technical knowledge of prevailing accounting standards and insurance reporting.
Analytical Skills: Ability to analyze complex spend data and manage vendor advances with strict internal controls.

Soft Skills

Excellent communication and report-writing abilities.
Strong leadership qualities with a focus on coaching and team growth.
High attention to detail and a commitment to maintaining financial integrity.

More Vacancies

To apply for this job please visit lk.linkedin.com.