Executive / Sr. Executive - Advances Payment

Key Responsibilities

Payment Processing & Execution

• Verify advance requests against purchase orders, contracts, and internal approval matrices.
• Execute domestic and international advance payments accurately across multiple global currencies.
• Track milestone-based payments, mobilization deposits, and progressive contract releases.
• Monitor outstanding advances to ensure proper settlement or recovery against final invoices.

Banking & Regulatory Compliance

• Coordinate with partner banks to submit paperwork for outbound foreign wire transfers.
• Ensure regulatory adherence to strict central bank guidelines like RBI and FEMA regulations for cross-border capital transfers.
• Manage documentation such as Bank Guarantees, Letters of Credit, and Form A2 declarations.

Reconciliation & Systems Management

• Maintain real-time ledgers and reconcile advance accounts inside ERP software like SAP or Oracle.
• Clear open advance entries once standard vendor invoices are finalized and matched.
• Analyze aging schedules for long-outstanding vendor balances and flag unadjusted advances.

Reporting & Audit Support

• Build cash flow forecasts detailing upcoming advance obligations for treasury planning.
• Generate monthly payment reports utilizing advanced Excel functions (VLOOKUP, Pivot Tables).

Provide evidence and documentation during internal financial control (IFC) and statutory audits.

Required Skills and Qualifications

• Education: Bachelor's or Master's degree in Commerce, Finance, or Accounting.
• Experience: 2–4 years (Executive) or 4–7 years (Senior Executive) in Accounts Payable or Treasury operations.
• Technical Savvy: High proficiency with ERP tools (SAP FI/CO module is highly preferred) and Microsoft Excel.