Account Receivable Consultant
Beijing
- Organization: AIIB - Asian Infrastructure Investment Bank
- Location: Beijing
- Grade: Consultancy - Consultant - Contractors Agreement
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Occupational Groups:
- Closing Date: Closed
Application close date
08/02/2024
1. Project Background
Over the year, the Bank has experienced substantial growth in its investment business across both sovereign and non-sovereign sectors. To manage the increasing volume and enhance process governance, the Office of the Controller is seeking to hire a consultant to assist in the design of relevant systems, standardization of procedures, and strengthen relevant accounting policies for the Accounts Receivable (AR) function. This initiative aims to enhance the efficiency and effectiveness of AR management, ensuring alignment with international best practices and compliance with regulatory requirements.
2. Objectives of the Assignment
The primary objective of this assignment is the implementation of robust and systematic Accounts Receivable (AR) management practice, including but not limited to the development and implementation of accounting policies, design of business and systems (ERP) workflow, preparation of reports, and integration with relevant systems. All business requirements should be thoroughly documented, clearly communicated to, and fully understood by the implementation partners, while aligning the required functions with existing account receivable processes.
3. Scope of Services
• To engage with relevant stakeholders to gather comprehensive requirements and review the current account receivables system, procedures, and policies and benchmark the current practices against peers. • To develop accounting policies related to accounts receivable, ensuring compliance with international accounting standards (e.g., IFRS). • To design a comprehensive AR management system, including automation of key processes and to ensure the system integrates seamlessly with existing relevant systems. • To create detailed procedures for AR operations, including invoicing, collections, reconciliation, and reporting to enhance efficiency and reduce processing times. • To communicate and coordinate business requirements with the systems implementation team and develop test cases. • To participate in User Acceptance Testing (UAT) to ensure functionality and usability meet business requirements. • To work together with AR team and IT team to ensure seamless integration with other relevant finance systems. • To coordinate the development of training material with the implementation partner. • To communicate issues or concerns and suggest practical solutions during implementation phase.
4. Consultancy Output / Deliverables
• Draft business requirements and workflows • Accounting policies for accounts receivable • User acceptance test cases • Communication materials • Training materials • Other business-related outputs as required by the project
5. Implementation Arrangement
Preference is for the Consultant to work from AIIB's headquarters in Beijing.
6. Support to the Consultant by the Bank
All IT and other tools necessary to perform the role will be provided. Payment of travel / living stipend while in Beijing (if needed): airfare is to be paid directly by AIIB; ground transportation, meals and accommodation will be paid out as a lump sum to be determined at the time of contracting. Lump sum amounts are to be pro-rated per calendar days of the month while onsite.
7. Knowledge Transfer and Training
Knowledge transfer will be expected at the time of delivery of outputs.
Qualification Requirement
• Experience in accounts receivable management, particularly related to systems and workflow design. • Strong background in finance and accounting, with a focus on accounts receivable management. • Proven expertise in developing financial systems, procedures, and accounting policies. • Advanced knowledge of international accounting standards (e.g., IFRS). • At least 10 years of relevant experience with a multilateral development bank and/or a large-scale financial institution. • Strong communication and business acumen. • Independent and reliable. • Demonstrated skills in collaborative team working, analysis and solving problems. • Ability to adhere to strict deadlines and motivate teams to achieve the same. • Fluency in English, oral and written.