Account Payable Executive

Job Summary:

The Settlement Executive is responsible for executing timely and accurate settlement processes for vendor payments, managing daily reconciliation, and supporting the financial operations of a pharmaceutical business. This role plays a key part in ensuring smooth financial transactions, maintaining compliance, and fostering strong relationships with vendors.

Key Responsibilities: 

• Review and verify vendor invoices for accuracy, ensuring compliance with agreed-upon payment terms.
• Process vendor payments within stipulated timelines to maintain healthy vendor relationships.
• Perform daily reconciliations of accounts to ensure accurate and timely settlements.
• Investigate and resolve discrepancies in accounts, payments, or invoices promptly.
• Ensure that all financial transactions are documented accurately and in compliance with company policies and regulatory requirements.
• Assist in maintaining records for audits and internal reviews.
• Serve as a point of contact for vendors, addressing inquiries and resolving payment-related issues.
• Maintain clear communication to ensure smooth financial operations and vendor satisfaction.
• Prepare regular reports on settlement activities, outstanding payments, and reconciliation status.
• Provide insights and recommendations to improve payment processes and reduce discrepancies.

Qualifications:

• Proven experience in vendor payment management or a related field, with a strong understanding of settlement processes.
• Strong problem-solving and conflict resolution skills, with the ability to manage discrepancies and complex issues
• Excellent communication and interpersonal skills to interact effectively with vendors, internal teams, and senior management.
• Leadership experience, with the ability to supervise and motivate a team towards achieving operational goals.
• Knowledge of payment systems, financial software, and best practices in vendor management.