Hero MotoCorp
Website:
heromotocorp.com
Job details:
Hero MotoCorp is seeking a highly skilled and analytical Associate Manager for Accounts Payable to join our Finance team at our Tirupati Plant. You will be responsible for ensuring the timely payment of vendor invoices, maintaining highly accurate financial records, and overseeing critical control reports. In this role, you will ensure that all P2P systems, policies, and internal control checks strictly adhere to company guidelines and statutory regulations, while also leading innovative automation projects, optimization initiatives, and continuous development for your team.
Key Areas of Responsibility
1. Invoice Processing & Timely Payments
- Ensure that all invoices are approved as per DOA and have a valid PO/agreement.
- Process invoices with 100% accuracy regarding amount, GL account, ITC treatment, and TDS.
- Share payment projections within deadlines and run payment proposals on a timely basis.
- Review, post, and monitor monthly price increases and decreases.
- Ensure monthly provisions are taken for amendments where invoices have not yet been received.
- Review and approve SRPs on the SRP portal, ensuring 100% compliance with DOA.
- Handle price amendment payments and upload relevant workings onto the vendor portal in a timely manner.
2. Monitoring, Internal Controls & Compliance
- Ensure payments are made within the timelines defined for MSME vendors as per the MSME Act.
- Closely monitor adherence to existing SOPs and update them as processes change.
- Put non-compliant payments on hold (e.g., GST returns default) and monitor them before every payment cycle.
- Ensure vendor payments are settled within 180 days from the invoice date and ensure RCM invoices are accounted for within GST Act timelines.
- Process working capital advances according to company policy and adjust subsequent monthly installments from vendor accounts.
- Maximize Input Tax Credit (ITC) benefits by efficiently processing vendor invoices.
- Deduct debit amounts (on account of Rejection, Warranty, OSP Tax debit, Sale, etc.) from vendor payments.
- Analyze vendor payables/advances, monitor old aged items, and cover 90% of component vendor reconciliations annually.
3. Book Closing & Audit Coordination
- Review trial balances and periodic ledger reconciliations to maintain the hygiene of financial books.
- Support timely closure of accounts and provide adequate data for statutory, internal, and tax audits.
- Ensure accurate accounting in GL heads to ease year, quarter, and month-end closing processes.
4. Maximizing Returns & Project Management
- Handle projects targeted at profit margin improvements, cost reduction, expense curtailment, and contractual negotiations.
- Monitor EBITDA augmentation projects and track financial performance improvements.
- Develop competitive benchmarking tools to evaluate and improvise performance standards against peer groups.
- Collaborate with cross-functional teams on various business improvement initiatives.
5. Innovation, Automation & Digitization
- Deploy digitization models for "Zero-touch" accounting using available tools and technological solutions.
- Identify and implement creative solutions for manual, repetitive tasks to improve speed and accuracy.
- Benchmark organizational processes against global standards to drive optimization and standardization.
6. People Development
- Build presentation and analytical skills within the team to increase efficiency.
- Track performance and ensure team members complete mandatory training requirements (e.g., DISHA Program, Accenture Training).
- Foster a collaborative, two-way learning environment focused on team building.
Job Requirements & Qualifications
- Academic Qualification: Chartered Accountant (CA) or Equivalent Professional.
- Industry Experience: 3+ years of experience strictly within a manufacturing company.
- Core Experience: Direct experience handling the Procure-to-Pay (P2P) process.
- Technical Knowledge: Extensive knowledge of accounting, P2P processes, the Companies Act, and relevant financial laws/regulations.
- Systems Proficiency: MS Office & SAP.
- Behavioral Skills: Strong analytical abilities, excellent communication, conflict resolution, time management, and leadership skills.
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