Director of Accounts Payable

Director of Accounts Payable

Teaneck, NJ (Onsite)

Full Time

Summary:

The Director of Accounts Payable will be responsible for overseeing the organization's accounts payable function, ensuring the accurate, timely, and efficient processing of payments to vendors and suppliers. This leadership role will involve managing a team, optimizing AP processes, and working cross-functionally to maintain strong relationships with internal and external stakeholders. The Director will also ensure compliance with company policies, internal controls, and relevant regulations, while driving continuous improvement initiatives to enhance the effectiveness of the AP department.

Responsibilities:

Leadership and Management:

• Lead, mentor, and manage the accounts payable team to ensure smooth operations and high performance.
• Oversee the day-to-day activities of the AP department, ensuring that all vendor invoices, payments, and reconciliations are processed efficiently and accurately.
• Develop and implement policies and procedures to ensure AP processes are compliant with internal controls and best practices.
• Set clear performance goals for team members, monitor performance, and provide ongoing feedback and professional development.

Vendor and Stakeholder Relations:

• Manage relationships with vendors, ensuring that payments are made timely and disputes are resolved promptly.
• Coordinate with internal departments (e.g., Procurement, Legal, and Finance) to address AP-related issues and ensure smooth interdepartmental communication.
• Collaborate with external auditors during year-end audits to ensure AP transactions are in compliance with accounting standards and regulations.

Process Improvement and Automation:

• Identify and implement process improvements to enhance the efficiency of the AP function, reduce processing times, and minimize errors.

Evaluate and recommend automation tools and technologies to streamline the AP workflow.

• Continuously monitor industry trends and best practices to keep the AP department operating at peak efficiency.

Compliance and Reporting:

• Ensure compliance with tax regulations, including proper handling of 1099 filings and sales tax requirements.
• Prepare regular AP reports and KPIs for senior leadership, including cash flow forecasts, outstanding payables, and aging reports.
• Manage the month-end and year-end closing processes related to accounts payable.

Financial Control and Accuracy:

• Oversee the reconciliation of AP accounts to the general ledger and ensure accuracy of financial statements.
• Develop and implement internal controls to safeguard company assets and prevent fraud or errors in the AP process.

Qualifications:

• Bachelor's degree in Accounting, Finance, Business Administration, or a related field; CPA or Master's degree preferred.
• At least 8-10 years of progressive experience in accounts payable or finance, including 5 years in a managerial or leadership role.
• Strong knowledge of accounts payable processes, financial systems, and internal controls.
• Experience with ERP systems (e.g., SAP, Oracle, NetSuite, or similar) and automation tools is highly preferred.
• In-depth understanding of tax regulations, including sales tax and 1099 reporting requirements.
• Previous experience in process reengineering and implementing technological solutions for AP processes a plus.
• Excellent leadership, communication, and interpersonal skills.
• Strong problem-solving abilities and attention to detail.
• Ability to work under pressure and meet deadlines in a fast-paced environment.