Accounts Receivable Specialist

Accounts Receivable Specialist | London

Who We Are

We are Monex, a specialist in commercial foreign exchange. We offer a range of FX services aimed at corporate and institutional clients to manage foreign exchange exposure and international payments. Our team of experts provides personalized and proactive service, helping clients execute thoughtful FX strategies tailored to their specific business needs.

As part of the Monex SAB de CV financial group, we support over 70,200 clients worldwide, offering local expertise in various regions including the UK, Luxembourg, Canada, and Singapore. Our goal is to empower clients to make better-informed business decisions in a fast-moving and volatile market.

Department Overview

Finance departments need to constantly monitor the effectiveness of their activities and respond to any problems identify.

The need for financial departments to constantly adapt to their unique circumstances, which may include taking on additional responsibilities or relinquishing existing ones.

Finance Department Activities

Accounts Payables/Receivables Group

Accounts Payable (AP) and Accounts Receivable (AR) are two key functions in financial accounting that manage a company's cash flow.

Accounts Payable (AP) manages the company's outgoing payments, ensuring timely and accurate disbursement to suppliers while optimizing cash flow. It ensures the organisation meets its financial obligations efficiently, maintaining strong supplier relationships and leveraging payment terms for financial flexibility.

Accounts Receivable (AR) drives the collection of incoming payments from customers, safeguarding revenue streams and ensuring timely cash inflow. It plays a critical role in managing working capital by enforcing credit policies and accelerating cash conversion, ultimately strengthening the company's liquidity position.

Together, AP and AR are key to balancing financial operations, optimising cash flow, and supporting strategic financial health.

This function requires a strong skill bookkeeping set, because is the most basic financial activity in a company. Before a business owner ever considers hiring a CFO, they bring in a bookkeeper, who tracks all of the transactions in the organisation, covering both sales and expenses. As the organization grows, they might hire more specialised payables and receivables clerks, to take over functions such as corresponding with vendors and suppliers, above and beyond recording transactions.

Accounting function

The Accounting Department refers to the division in a firm that maintain and record all business transactions accurately and comprehensively in a systematic way so that they can be retrieved and reviewed at any time. Maintain adequate internal controls within the organization to safeguard its valuable resources.

Provide a basis for performance assessment and create accountability across the organisation.

Keep track of costs incurred by the company and advise the modification of existing operations to reduce operating costs.

Support senior management in the decision-making process by appropriately presenting the financial data.

Plan based on anticipation of business needs and expected availability of resources.

Financial Reporting and Control

Financial Reporting is the function that takes raw accounting entries and transforms them into usable and comparable financial statements.

Requiring far more judgment than the bookkeeper’s role, this function involves everything from ruling on how to implement accounting principles to designing financial processes of the organization, selecting accounting systems, liaising with external auditors, and ensuring that there are no gaps or oversights in existing processes. Reporting to the Head Quarter, board meeting presentations.

Tax and Compliance

A company is exposed into two main areas within tax function, namely (i): tax compliance and reporting, and (ii) tax advisory. In both cases, the challenges faced by tax functions can include keeping up with constantly changing tax regulations, managing large volumes of data, integrating tax technology solutions and dealing with complex cross-border transactions.

The connection between the challenges faced by the tax function and its operating model lies in the resource allocation. Often using the financial statements as a basis, along with various other configurations of the information produced by Bookkeeping and Payables/Receivables, the Tax and Compliance function will make sure all of the government forms and filings are sent complete and on-time to the taxman.

A strong Tax and Compliance function will go one step beyond simple compliance, and will find ways to minimize tax, to maximize the company’s net income.

Finance business partnering function

Within finance departments, the finance business partner function can be used to emphasise that finance’s role is about contributing to the business rather than pursuing a narrow departmental agenda. Labelling finance as a business partner can help to break down stereotypes of what accountants and the finance department do. The roles are vital providing the support for them to do it, organisations can do more harm than good by generating unfulfilled expectations.

Job Overview

This position is for a friendly, fun, and motivated person to join our finance team and assist our diverse business when necessary. 

The Accounts Receivables Specialist is tasked with overseeing the organization's outgoing payments, ensuring the accuracy of financial transactions, and fostering strong relationships with suppliers. This role involves processing invoices, reconciling accounts, and enhancing the overall financial health of the organization through timely and precise payments.

Additionally, the Analyst is responsible for managing invoice processing and maintaining supplier accounts, which includes assisting with the investigation and resolution of aged transactions, processing employee expenses, and providing ad hoc reports to the Accounts Payable and Finance Team. The Analyst will also focus on creating efficiencies in daily operations to minimize time spent on repetitive and administrative tasks. Likewise, as the role include overseeing the employees expenses, the role will be responsible for processing all company expenses, both in the UK and internationally, in accordance with company policy.

This role will support expenses related to dealers and managers, involving the processing of documentation, assistance to various departments, and general administrative duties. Furthermore, the administrator will manage supplier accounts across Monex Europe Ltd, ensuring accurate record-keeping and compliance with payment requirements.
 

Key Skills & Experience Required

• Previous experience of working within in a regulated investment firm
• Understanding of business requirements from experience of working in a commercial environment
• Ability to learn new tasks and procedures quickly
• Experience in working in a varied and diverse administrative role
• The interest to use technology where appropriate to improve processes
• The ability to manage a varied workload through effective organisation skills
• Knowledge of Workday
• Some awareness of financial regulations, compliance and risk management within assigned country/region.
• Some knowledge of the regulatory environment in which an FX firm operates
• Experience with Workday is an advantag

Join the MONEX team and take the next step in your career! We're looking for passionate individuals ready to make a difference. Apply now and be part of our success!