Operation Service Department-Accounts Payable Associate

Introduction

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

Overview

This position will monitor and handle payments and invoices for the Bank. Main responsibilities include but not limited to reviewing, verifying, reconciling invoices and reimbursements/payments, processing accounts payable related transactions, maintaining payment records and performing expense analysis to ensure processes performed align with Bank’s procedure, policy guidelines, standards, and regulatory requirements.

Responsibilities

Invoice & Reimbursement Payment Management (20%)

• Review and verify invoice(s) and reimbursement claim(s) for proper authorization and supporting document(s) before processing.
• Identify expense category and cost centers for invoices and reimbursement claims for processing.
• Maintain transaction records by keeping logs of check register and scanning files onto Laserfiche.
• Verify and process payment of corporate credit card bills.
• Maintain accurate vendor master files and all supporting documentation.
• Review and verify invoice(s) and reimbursement claim(s) for proper authorization and supporting document(s) before processing.
• Identify expense category and cost centers for invoices and reimbursement claims for processing.
• Maintain transaction records by keeping logs of check register and scanning files onto Laserfiche.
• Verify and process payment of corporate credit card bills.
• Maintain accurate vendor master files and all supporting documentation.

Fixed Assets Control (20%)

• Review and validate fixed assets purchase order(s) and invoice(s) for appropriate approvals.
• Monthly Reconciliation of fixed assets account balances in T24 against Sage Fixed Assets system record.
• Identify fixed asset types and accounts for preparation of input request form for bookkeeping purpose.
• Prepare fixed assets depreciation input request forms based on Sage system depreciation report.
• Verify write off request items and process accounting entries.

Payroll (20%)

• Prepare payroll and 401K input request form based on data provided by the Human Resources Department.
• Monitor Flexible Spending Account (FSA) payment (ACH debit) daily and prepare monthly summary to Human Resource Department.
• Conduct FSA annual adjustment as instructed by Human Resource Department.

Risk Management/Compliance/Internal Audit (20%)

• Understand and comply with Bank’s procedures, policies, standards, and regulatory requirements.
• Escalate suspicious transactions to Legal Compliance Department.
• Prepare monthly, quarterly, and annual risk assessment reporting to the Second Line of Defense.
• Assist to update procedures to reflect current workflow processes, and ABAC compliance updates.
• Respond to Internal Audit Department’s request timely and assist to remediate any audit issue findings.
• Provide timely responses to inquiries from Head Office, internal and external auditors.

Report (20%) 

• Conduct internal reconciliation of suspense account, PL categories, capital lease, operating lease, payroll, and fixed assets on a monthly basis.
• Conduct annual due diligence of abandoned property.
• Manage record retention based on the Record Retention Policy.

Qualifications

• Bachelor’s degree required, Accounting major preferred.
• Knowledge and 1 year of experience in accounts payable is required.
• Proficiency in MS Excel, Word and PowerPoint required.
• Oral and written communication skills, bilingual in English and Chinese required.
• Knowledge of accounts payable, accounting principles and general accounting procedures, payroll function and procedures, and applicable federal and state tax laws is highly preferred.

Pay Range

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.