The Team Member, Payables is responsible for supporting the processing and administration of disbursements for life and group life insurance transactions. This includes authorizing transactions on the FMS/TQ platform, preparing payment instructions, reconciling bank statements, monitoring payment failures, and maintaining accurate records. The role plays a key part in ensuring timely and accurate settlement of claims, benefits, and other financial obligations while adhering to internal control and audit requirements.
JOB DETAILS
Transaction Authorization (TQ/FMS): Proficiency in reviewing and authorizing various life-related payments using internal financial systems.
Bank Reconciliation: Ability to reconcile bank statements with internal payment logs and Excel trackers.
Disbursement Support: Knowledge of insurance disbursement processes, including cheque printing, claims settlement, and benefit payouts.
Payment Platform Monitoring: Daily monitoring of payment failures and ensuring follow-up actions are taken promptly.
Documentation and Filing: Accurate and timely preparation of instruction letters and filing of physical records in line with audit standards.
Excel and Record-Keeping Proficiency: Skilled in using Excel for reconciliation, tracking, and preparing callover sheets.
REQUIREMENTS
Bachelor's degree in Accounting, Finance, Business Administration, Insurance, or related field.
Minimum of 2 - 4 years of experience in finance, accounts payable, or disbursements, preferably in an insurance or financial services environment.
Familiarity with insurance processes (e.g., claims, benefits, maturity payments) is an added advantage.
Experience working with financial systems such as TQ, FMS, or other ERP platforms.
Proficient in Microsoft Excel and general accounting principles.