There's no built-in way to do this.
If the exact time of day doesn't matter*, then one approach is to schedule a task to fire every 24 hours, and have it check whether the current time is the first day of the month, and if so, perform the task.
(* It will drift slightly when summer time starts or ends, or leap-seconds get added, but that may not be significant.)
A more powerful (but more complex approach) is to set the timer to go off once, at the appropriate time on the 1st of next month. Then, after performing the task, it could re-schedule itself for the 1st of the following month. (You'd need to take care that it always did so, even if the task threw an exception.)
You could put all this into a timer class of your own, to separate it from the business logic you want to run.
For examples in Java (which will translate directly to Kotlin/JVM), see the answers to these questions.