Analyst, Inter Company Reconciliation
We are a leading chemical company, with the best teams developing intelligent solutions for our customers and for a sustainable future. Our success as a company relies on the engagement of our employees. We encourage our employees to develop their strengths, and we recognize their achievements. For you, this means a wide variety of job roles, and exciting opportunities for learning and career development.
- Do you want to work with passionate teams, providing excellent business and digital services to the Asia Pacific region?
- Do you want an open, supportive, and caring working environment?
- Do you view your development needs seriously as we do?
- If YES, then take your career to the #NextLevel with BASF !
Objectives of the Position
- Provide Inter‐Companies reconciliation, investigation, escalation and coordination support to deliver ICR related services to
- BSSCKL‘s customers in accordance with established processes and work procedures and in compliance with BASF policies,
- internal control requirements and local company legal and statutory requirements.
- Ensure that service timelines and service quality are met in the delivery of inter‐company reconciliation, investigation,
- escalation and coordination which resulted from other Inter‐company activities i.e : agency business process (commission
- monitoring), transactions and overdue follow‐up.
- To perform, assist and backup Inter‐company reconciliation, investigation, escalation and coordination as and when required.
Functional Tasks (inclusive but not limited to):
Reconcile, investigate, escalate and coordinate with respective stakeholders on Inter‐company related activities:
- Daily and month end inter‐company reconciliation process
- Initiate and execute inter‐company reconciliation in accordance with process documentation by monitoring unmatched or un‐posted invoices, unallocated receipt, un‐cleared payment or any other reason for the differences.
- Perform analytical review of GR/ IR report (F.19) and Trial Balance (YGF Analysis) to resolve ICR differences and coordinate with counterparts on case to case basis if required.
- Perform month end, quarter end, and year‐end close activities and coordinate with various level of Local Users and other Financial Services functional teams to ensure timely and accurate closure of accounts.
- Ensure timely and accurate preparation of reports for BSSCKL, local management and Group reporting as well as any agreed ad hoc reports required by BSSCKL customers e.g. interim, final and central audit schedules, full reconciliation, write‐off proposal, commission monitoring and etc.
- Maintain Adrian Portal contact list for in‐scope companies.
- Perform investigation for Condor discrepancies via CX54 and provide adjustment via Adrian Portal before reporting deadline.
- Ensure all IC differences upon investigation are justifiable and coordinate with the stakeholders for resolution.
- Ensure that deadlines for reconciliation are met consistently.
Inter‐company Commission Monitoring
- Coordinate and investigate unsuccessful Settlement Request (SR) creation.
- Provide advice and guidance to Customer Sales Officers (CSO), BU controllers, RBU controllers, Regional Operating Division.
- ICTP Office (RODIO) team and Local Finance (Tax) on the commission error for resolution.
- Process manual settlement request instruct by Local Users for billing/ SR more than grace period (60 days)
Accounts Payable: Inter‐company related workflow, by ensuring delivery quality in terms of accuracy, completeness, and timeliness on a daily basis.
- Monitor and coordinate for completeness of inter‐company invoices, debit notes and credit notes postings.
- Reconcile to ensure transaction processed does not lead to IC differences.
- Ensure rejected Invoices being taken up by counterparty for invoices with incomplete accounting information after consultation from senior analyst or manager.
- Monitor and coordinate for Goods Receipt (GR) & Invoice Receipts (IR) accounts not carrying more than 90 days open items.
- Ensure Inter‐company Accounts Payable overdue are explainable.
Non‐Trade Portal: Update Supplier and Customer Accounting in NTBT.
- Update accounting data includes Value Added Tax (VAT) and accounts code in Non‐Trade Portal by analyzing nature of transaction, by ensuring delivery quality in terms of accuracy, completeness and timeliness on a daily basis.
Master data : Inter‐company maintenance
- Ensure maintenance perform by BSSCKL‐MD team for Inter‐companies vendors & customers are accordance to the guideline in every aspects i.e.: Payment Term and Currency.
- Regular check in the system on posted documents whether carries valid Payment Term & currency to avoid delay in payment.
- Highlight to master data team for rectification at source and Work with Account Payable team for manual correction.
- Ensure no retrospective adjustment for posted invoices at the time new maintenance (per guideline) taken place.
Treasury : Inter‐company transactions
- Ensure Treasury or Cash Management related activities i.e.: Interest Accrual, actual Interest does not lead to IC differences.
- Coordinate with Treasury and Accounts Payable team for fund arrangement in case for Dividend or Capital Injection required (non‐ Invoice based payment).
- Book‐to‐Report : Inter‐company transactions & reporting
- Ensure Royalty, Dividend or general accrual performed does not lead to IC differences in both view BS & P&L.
- Strictly monitor and reconcile for no accrual policy against Inter‐company is adhere to.
- Coordinate with B2R team for monthly balances upload by ensuring delivery quality, accuracy, completeness and timeliness.
- Attend to ICR related queries from the local end user by means of gAHD (Finance Service Online Portal), Customer
- Satisfaction Measurement Survey and emails.
- Attend to ICR related queries from group reconciliation manager out of BSSCKL's scope.
- Resolve accounting issues in consultation with the Senior Analyst, Specialist, Manager or Expert.
- Identify area for improvement based on issue faced and give proposal to management to resolve.
- Participate in any compliance audits and respond to audit queries.
- Ensure all work documentation and work processes are updated and meet with internal control (IQA), Corporate audit and Financial Reporting Compliance (FRC) audit.
- Ensure compliance to BASF policies & guideline, local company’s policy, legal and statutory requirements.
- Actively support and participate in Global Finance Shared Service Centre Organization community.
- Assist, support the management and execute the implementation of project initiatives e.g. continuous improvements,
- Internal Control, Six Sigma, Balance Scorecard and et cetera.
- Support continuous improvement in their areas of operation.
- Business Continuity Plan (BCP) – Perform the task as assigned during the BCP
- Perform back up duty when required
- Perform other tasks as and when required in line with business needs and directions e.g. perform other duties as and when delegated, including job rotation to other functional teams as and when required.
- Execute month end process steps in accordance with work instructions and month end close checklist.
- Work with other teams in finalizing closing timeline for month‐end, quarter‐end, and year‐end close activities to ensure timely and accurate closure of accounts.
- Supervise and review the work of peers, as directed by the Senior Analyst and Manager.
- Execute work in accordance within service level agreement by providing timely and accurate customer service.
- Update issue log with detail root cause, preventive action and provide resolution
Quality and Continuous Improvement:
- Identify, recommend and implement solutions in consultation with Senior Analyst, Specialist and Manager for continuous improvement opportunities.
- Update changes to process documentation as and when required.
- Assist in the preparation of training materials as and when required.
- Support new and existing team members through proper knowledge transfer; sharing of resource, knowledge and experience and best practice thereby ensuring quality is maintained through any staff transition.
- To assist and support in other BSSCKL Finance Services functions, regional and global’s project improvement
Resource Management :
- Act as peers backup as and when required
- Attend regular team meetings, staff briefing sessions and individual reviews to ensure individual’s issues are recognized and resolved in a timely and orderly manner
- Leadership, Cooperation and Supervisio
Professional guidance / multiple reporting lines :
- Follow BASF Group guidelines; accounting and reporting guidelines.
- Understand and follow local regulation and statutory requirements
- Work with minimal supervision
Frequent cooperation within BASF Group :
- Counterparts in local company and the other BSSCKL FS teams
- Manager, senior analyst and team members
- Service center management team
- Reconciliation Manager for companies outside of BSSCKL's scope
Frequent cooperation outside BASF Group :
- External auditor
- Degree or diploma preferably with accounting background.
- 2‐3 years’ experience in Inter‐company reconciliation or other accounting function.
Technical & Professional Knowledge:
- Knowledge and understanding of accounts receivable, account payable and general accounting
- Proficiency in English with good and effective communication skill
- Knowledge and experience of MS office tools
- Desired Requirements
- External experience in a shared service or business process outsourcing engagement will be preferable
- Experience working in an SAP work environment will be preferable
BASF regional service hub has been established since 2005 in Kuala Lumpur. The regional service hub has approximately 700 employees and growing. Focused on being a competency and digitalization driven hub, it also provides quality functional and know-how services in the areas of finance, controlling, human resources, real estate and facilities management, communications, environmental, health and safety, procurement, import-export order management, and information services to BASF companies and affiliates in the Asia Pacific region. BASF also has two other regional hubs located in Berlin, Germany, and Montevideo, Uruguay that cover the Europe and Americas regions.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 110,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2020. Further information at www.basf.com.For further information, and to apply, please visit our website via the “Apply” button below.Candidates must be resident in Malaysia, or have the right to work in Malaysia