Accounts Payable Manager - Kenilworth, NJ

What will you be doing?

The job responsibilities of the Accounts Payable Manager include the following:
Maximize resource utilization of the Accounts Payable Team to ensure even distribution of workload including cross-training for PTO coverage. Identify opportunities for career growth and skills development for team members including identifying and enforcing best practices. Analyze performance using per-transaction metric reporting. Conduct performance reviews and make recommendations to the Senior Director of Business Operations regarding compensation as well as hiring and dismissals.
Prepare and manage operating and personnel budgets.
Periodically audit a diverse sample of transactions to evaluate performance, confirm accounting controls are being enforced, and review trends for process improvements as well as strategic opportunities to move toward paperless/electronic payments.
Promote teamwork and effective communication through consistent Accounts Payable Team meetings based upon written objectives and monthly KPI reporting. Single point-of-contact for all internal clients, vendors, as well as Accounts Payable Team for escalation support. Manage cross-departmental linkages between Procurement, Logistics, and Accounts Payable to improve efficiencies, accuracy, timeliness and reduce transactional errors as evidenced by metric improvements. Adopt more robust governance which can reduce manual errors and strengthen internal controls around accounts payable processing.
Proactively manage and report on vendor trade credit lines and terms. Actively negotiate credit lines and terms that support working capital requirements.
Systematically review unvouchered receipts to distinguishing between strategic delays and performance-based exceptions. Implement corrective actions, training, or process improvement recommendations to eliminate performance-based exceptions.
In a proactive mode, monitor unapplied/prepayment/deposit invoices regularly to ensure prepayments are promptly applied. Ensure the AP Trial Balance has been cleared of any items that should be keyed off manually and that all manual checks/bank wires have been recorded.
Review monthly AP Aging Schedule to identify and resolve any exceptions. Evaluate exceptions for trends with specific vendors and escalate accordingly. Investigate and resolve account discrepancies, authorizing stop or short payments as needed.
Manage the month-end close process to ensure that 1) the AP Aging Schedule reconciles to the GL AP Balance; 2) AP Age Reports terms, DPOs, variance targets & management of payments - based on company s working capital objectives; and 3) that Diversified is within market trends for DPOs.
Manage all methods of payments (ACH, wire, paper). Maintain ongoing metrics including number of each, activity, and KPIs to ensure payment methods align with best practices and cost objectives.
Contribute toward profitability improvement by managing DPOs to align with cash flow and working capital requirements.
Utilize Excel Pivot tables to provide weekly/monthly/annual Accounts Payable metric analytics as required. Typical KPIs include:
oTotal number of invoices receivedoMove vendor paper invoices to receive electronicallyoNumber of suppliers using electronic invoicingoNumber of invoices processed per day per employeeoAverage cost to process an invoice typeoAverage time to approve invoicingoDiscount dollars lost as a percentage of available discount dollarsoErroneous/fraudulent payments as a percentage of total paymentsoElectronic payments
Develop, document, and implement Accounts Payable policies and procedures to ensure adherence to company guidelines inclusive of migration workplan for a centralized Accounts Payable department. Working with Senior Director of Business Operations, advance plan to leverage efficiencies and reduce costs.
Provide hands-on support during times of high volume. Execute additional responsibilities and special projects as assigned by the Senior Director of Business Operations.

What do we require from you?
BA in Business Administration or a related field is required
Minimum of five years experience in AP Management
Excellent written and verbal communication skills.
Strong organizational and analytical skills.
Ability to solve problems effectively.
Proficient in use of MS Office Suite.
Requires advanced knowledge of financial terms and principles, GAAP and GL.
Understands AP month end closing process.
Working knowledge of database reporting.
Capable of making decisions with thorough understanding of procedures, company policies, and business practices to achieve general results and deadlines.
But wait, there s more!
Collaborative work environment
Committed to the career development and education of our team
Comprehensive competitive benefits package
Named as one of 50 Most Admired Companies in 2017 by Silicon Review
2017 Mega-Integrator
#2279 Inc. Magazine s 36th Annual List of America s fastest-growing private companies

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