PRIMARY OBJECTIVE OF POSITION:
To lead the Accounts Payable (AP) daily operations and create standardized processes and controls that will ensure all invoices are processed for payment in a timely and accurate manner and general ledger distributions are completed within established expenditure processes and procedures. To effectively represent Finance Shared Services including Accounts Payable, Accounts Receivable, and Payroll on projects related to ERP implementation and various other technology updates.
MAJOR AREAS OF ACCOUNTABILITY:
1. Leads a global team as it relates to all projects or related work, establishes performance requirements, clarifies responsibilities of those supervised, conducts performance appraisals and plans for individual employee development.
2. Provides direction to accounts payable associates in their daily functions, including following up on a variety of escalated issues and working to research and resolve them in a timely and accurately manner. May perform day-to day AP duties such as preparing and processing accounts payable checks, reconciling, and payments.
3. Leads problem solving initiatives to identify and solve root cause problems in the invoice processing process. Works with the AP team members to develop analytical problem-solving skills among the team.
4. Monitors Accounts Payable workloads and backlogs, directing AP staff and taking appropriate action to maximize vendor discounts, produce efficient and timely vendor payments, and timely record expense and liabilities.
5. Participates in the design and implementation of the Enterprise Resource Planning (ERP) system and the development and implementation of streamlined processes and best practices for the Finance Shared Service team
6. Oversees the AP processes, procedures and team, including but not limited to compliance with policies and procedures, payment terms, exception management, and vendor management.
7. Acts as a liaison between the AP team, distribution centers, retail stores, merchandising, supply chain, finance and accounting to effectively manage the Company’s relationship with its vendors, including vendor setup and maintenance, inventory discrepancies, etc.
8. Creates operational and functional objectives and work plans and delegates assignments to the team. Develops and monitors metrics, reporting and the performance of the AP team.
9. Supervises and manages employees as it relates to all projects or related work, establishes performance requirements, clarifies responsibilities of those supervised, conducts performance appraisals and plans for individual employee development. Manages scheduling of Drop Ship Merchants to ensure appropriate coverage throughout all business hours.
10. Keeps supervisor informed of important developments, potential problems, and related information necessary for effective management. Coordinates and communicates plans and activities with others, as appropriate to ensure a coordinated work effort and team approach.
11. Performs related work as apparent or assigned.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Bachelor’s degree in Accounting, Finance or Economics.
- At least 5 years of experience in accounts payable in a retail environment.
- At least 5 years of supervisory experience.
- Experience with continuous improvement in processes of accounts payable (or finance operations) and related activities, leveraging available and new technology where appropriate.
- Ability to multi-task, work efficiently, and manage deadlines in a changing environment.
- Demonstrated skills in strategic accounts payable leadership and delivery of best practices.
- Strong knowledge of Retail and Manufacturing inventory process flows, AP processing, merchandise and expense purchasing, vendor communications, and the matching process associated with Accounts Payable processing.
- Experience in large company with a strong internal control environment.
- Experience with a large-scale ERP system, Microsoft Dynamic 365 experience a plus.
- Ability to lead and coach a team of global AP professionals (US and India).
- Ability to communicate effectively, both orally and in writing, with a wide variety of customers, company personnel, and others.
- Demonstrates Northern Tool + Equipment’s 12 Core Competencies.
- Accredited Payables Manager (APM) or Certified Accounts Payable Professional (CAPP) preferred.
- Lean Six Sigma certification a plus.
- Experience with merger and acquisition integration preferred.