Payables Officer at AIICO Insurance

• 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.