Accounts Payable Manager

1 month ago

Schaumburg, United States Bimeda Full time

About The Role:



Summary

The Accounts Payable (AP) Manager is a key leader in the finance department, responsible for overseeing the full cycle of the AP function. This role ensures that all company invoices and expenses are processed accurately and in a timely manner. The AP Manager plays a crucial part in optimizing cash flow, strengthening vendor relationships, and improving financial processes to support the company’s operational goals.


Key Responsibilities:

Manage the Accounts Payable Process:

Oversee the entire AP cycle, from invoice receipt to making payments.

Assist with month end closing process, ensuring that all AP transactions are properly recorded, accruals are accounted for, and reconciliations are completed in a timely manner.

Ensure invoices are processed accurately and in a timely manner.

Monitor outstanding payables and manage cash flow accordingly.

Manage the Employees Expense Process:

Oversee the approval process for employee expenses.

Reconciliation of cash and corporate card submissions and payments.

Team Leadership and Development:

Lead, mentor, and manage two direct reports.

Establish clear objectives and KPIs for the AP team.

Train new team members and provide ongoing support to existing staff.

Vendor Relationship Management:

Build and maintain strong relationships with vendors and suppliers.

Address any discrepancies or issues with invoices, payments, or vendor contracts.

System and Process Improvement:

Implement and refine AP processes to increase efficiency and accuracy.

Leverage accounting software and ERP systems for better automation.

Ensure compliance with internal controls, financial policies, and external regulations including the preparation of process notes and documentation.

Reporting and Analysis:

Prepare reports on AP activity, cash flow, and expenditure trends for senior management.

Analyze payables data to identify areas of cost savings and efficiency.

Monitor key metrics such as days payable outstanding (DPO).

Budgeting and Forecasting:

Collaborate with the finance department to contribute to budgeting processes.

Assist in cash flow forecasting based on upcoming payment obligations.

Ensure that all payments are aligned with the company's budgetary controls.

Compliance and Risk Management:

Ensure all payments are made in accordance with company policies and legal regulations.

Manage audit processes related to accounts payable.

Minimize risks related to fraud or payment errors through internal controls.




ABOUT THE PERSON:

Key Competencies:

Technical Skills

  • Strong understanding of accounting principles, particularly in accounts payable.
  • Proficiency in accounting software and Microsoft Excel.
  • Familiarity with ERP systems and automation tools related to AP.

Analytical Abilities

  • Skilled in analyzing financial data to generate actionable insights.
  • Strong problem-solving skills, with a focus on resolving discrepancies and optimizing processes.

Communication and Negotiation

  • Excellent communication skills for engaging with vendors and internal departments.
  • Negotiation skills for managing vendor terms and resolving disputes effectively.

Leadership and Teamwork

  • Proven leadership experience in managing and motivating a team.
  • Ability to collaborate with other departments (e.g., procurement, finance) to align AP processes with overall financial goals.

Attention to Detail

  • Meticulous attention to detail to ensure accurate invoice processing and payment management.
  • Ability to identify errors, inconsistencies, and potential risks

Qualifications:

  • Bachelor’s degree in accounting, finance, or a related field.
  • 5 + years of experience in accounts payable or accounting roles, with at least 2+ years of management experience.
  • Proven track record of reviewing AP and employee expense processing systems.
  • Managed a minimum of 2 or more team members.
  • Strong communication skills and ability to interact well with management and key stakeholders.
  • 2+ Experience in manufacturing


About Us:

Bimeda is a global leader in veterinary pharmaceuticals and animal health products, with over 50 years of experience in delivering science-driven solutions that enhance health, well-being, and productivity. Our commitment to innovation is supported by advanced R&D facilities across multiple continents, where expert teams develop products tailored to the evolving needs of our customers.

Our manufacturing capabilities encompass a diverse portfolio, including sterile injectables, vaccines, nutritional boluses, feed additives, tablets, water-soluble powders, pastes, and non-sterile liquids. In addition to our quality Bimeda-Branded Products; we offer contract manufacturing and R&D services for prominent companies within the animal health industry.

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