Receivables - Senior Finance Assistant IFS Associate Southampton
Posted on Jan 15, 2019 by PWC-1
The Receivables section performs the critical task of collecting the UK firm's billed income from external and internal clients, and the subsequent processing of all related payment receipts. Receivables is based within the Financial Control element of the firm's internal finance function - OneFinance.
The Receivables section comprises the following closely linked operational teams:
Collections provide essential support to client engagement teams across the firm, in the collection and recovery of outstanding fees. Additionally, they provide expertise in query management, best practice guidance, legal action and insolvencies, advocating a cash focused culture and helping to drive sustainable working capital improvements for the firm. This 20+ strong team is based predominantly in Southampton, with a small contingent in Belfast.
Inter Territory Receivables
This team performs a receivables function for the UK firm's significant inter territory portfolio, for fees due to the UK firm from the PwC Global network firms, in accordance with global policy and guidelines, and requiring some coordination with PwC's Payables function. The team comprises 3 staff - 2 based within the firm's Shared Delivery Centre in Poland, and one in the UK.
Cash Allocation (Client Ledger)
This team is responsible for the accurate, timely and controlled allocation of all incoming payment receipts to transactions on the receivables ledger. The team also undertakes client account reconciliations and payment refunds. The team of 3 is based in the Southampton office and works closely with the London-based cashiers.
We're looking for an individual to join our Receivables section, specifically the Cash Allocation team in making a significant contribution to our receivables working capital performance ambitions. An enthusiastic and aspiring individual, you'll enjoy working as part of a team whilst building relationships with clients and internal stakeholders. You'll have demonstrated your ability to:
- Perform efficiently in a deadline driven environment
- Solve complex problems; taking a broad perspective to identify solutions
- Operate with minimum supervision and be self-motivated
- Work collaboratively with staff at all levels
Reporting to the Team Leader, you'll be responsible for identifying and processing fee income received into the firm's multiple currency bank accounts, ensuring this is carried out in a timely, accurate and controlled manner.
You'll follow defined procedures to ensure that our service level agreements ("SLA") and key performance indicators ("KPI") are met and maintained. You'll also work closely with the Cashiers team in relation to non-fee income and payment refunds.
Routine activities & responsibilities include
- Accurate allocation of all cash receipts to the receivables ledger, to achieve 96% same day allocation SLA
- Investigation and allocation of cash receipts which haven't been automatically matched
- Review and respond to inbound enquiries and payment queries from both internal stakeholders and external clients
- Review, investigate and process cash transfers and reversals
- Review and prepare client refunds where appropriate, in line with relevant legislation and firm policy
- Perform client account reconciliations and ensure all relevant documentary evidence is in place for audit purposes
- Support as required with other receivables related activities, such as collections and inter-territory receivables
- Provide recommendations for ongoing system, process and organisational improvements, and support subsequent implementations
Essential skills & experience
- Experience within finance based roles(s) involving receivables related activities - specifically cash allocation / matching
- Basic understanding of accounting principles
- Understanding of both domestic and international banking practices
- Numerate with excellent reconciliation skills
- High accuracy and attention to detail
- Ability to manage high volume of transactions and prioritise effectively to achieve deadlines
- Good working knowledge of SAP / GFS or similar finance systems
- Microsoft Excel skills intermediate or above
- Self-starter able to work off own initiative
- Experience of working to tight deadlines within a controlled environment
Desirable skills & experience
- Knowledge of key finance functions within the Receivables value chain - such as cash & banking, collections and accounts payable - would be an advantage
- Finance background with a high degree of analytical activities
- Previous experience of working within the professional services sector
- Knowledge of Data Protection (GDPR) & Anti Money Laundering regulations
Our people need to demonstrate a defined set of core skills and behaviours. We refer to these as the PwC Professional. They're integral to who we are as a firm and form the basis of our people appraisal process. We will also assess you against them within our recruitment process to benchmark your own skills and behaviours
Whole leadership Lead self and others to make a difference and deliver results in a responsible, authentic, resilient, inclusive and passionate manner
Business acumen Bring business knowledge, innovation, and insight to create distinctive value
Technical capabilities Apply a range of technical capabilities to deliver quality and value
Global acumen Operate and collaborate effectively with a mind-set that transcends geographic and cultural boundaries
Relationships Build relationships of high value which are genuine and rooted in trust
We recommend you visit the below web page to find out more about the PwC Professional framework and to consider how your own experiences will align against them. This will help you through the recruitment process with us.
Internal firm services
In order to deliver a first-class service to our clients, we need first-class support internally. Internal firm services is a network of specialist support professionals and includes marketing, recruitment, human capital, finance, technology, learning and development, procurement, to name but a few. Each team plays a vital role in making sure we have all the right resources, services and technology across our business.
The skills we look for in future employees
All our people need to demonstrate the skills and behaviours that support us in delivering our business strategy. This is important to the work we do for our business, and our clients. These skills and behaviours make up our global leadership framework, 'The PwC Professional' and are made up of five core attributes; whole leadership, technical capabilities, business acumen, global acumen and relationships.
We work in a changing world which offers great opportunities for people with diverse backgrounds and experiences. We seek to attract and employ the best people from the widest talent pool, as well as those who reflect the diverse nature of our society. And we aim to encourage a culture where people can be themselves and be valued for their strengths. Creating value through diversity is what makes us strong as a business and as an organisation with an increasingly agile workforce, we're open to flexible working arrangements where appropriate.