Director of Accounts Payable

Vaco
$140,000.00 - $155,000.00 / yr
401(k)
United States, Tennessee, Memphis
Jan 10, 2025
Position Overview: The Director of Accounts Payable will be responsible for overseeing the accounts payable functions across two distinct but interrelated entities-the parent company's distribution operations and its retail subsidiary. This senior leadership position will require the management of a large team, the development and implementation of effective accounts payable strategies, and the optimization of processes to ensure timely and accurate payments, efficient vendor relations, and compliance with internal and external controls. This role will work closely with senior leadership to ensure the overall financial health and operational efficiency of both the hardware distribution business and its retail division. Key Responsibilities: Accounts Payable Leadership: Oversee the daily operations of the accounts payable department for both thedistribution company and its retail subsidiary. Lead, train, and develop a team of accounts payable professionals, fostering a high-performance culture of accuracy, efficiency, and accountability. Ensure both teams are meeting departmental goals, service level agreements (SLAs), and internal/external deadlines for invoice processing, vendor payments, and reporting. Process Optimization & Compliance: Review and enhance accounts payable workflows to improve efficiency, accuracy, and cycle time, incorporating best practices and automation where possible. Ensure strict compliance with company policies, accounting standards (GAAP), tax regulations, and industry-specific regulations. Oversee the approval and processing of invoices, credit memos, and payments to ensure proper documentation and adherence to contractual terms. Identify and resolve discrepancies and exceptions in a timely and accurate manner. Vendor Management & Relations: Establish and maintain strong working relationships with key vendors, ensuring timely and accurate payments and addressing any payment inquiries or disputes. Monitor vendor performance and compliance with agreed-upon terms and conditions. Financial Reporting & Analysis: Ensure accurate reporting of accounts payable balances, aged accounts, and payment terms for both business units. Provide regular reports to senior management on accounts payable metrics, including outstanding payables, payment cycles, cash flow projections, and vendor reconciliations. Lead month-end and year-end closing activities related to accounts payable, ensuring timely and accurate financial reporting. System & Technology Oversight: Oversee the accounts payable software systems (ERP, AP Automation) for both the parent company and retail subsidiary, ensuring efficient system usage, integrations, and data accuracy. Drive the adoption of technology solutions that improve automation, reduce manual entry, and enhance reporting capabilities across the accounts payable function. Cash Flow Management: Collaborate with treasury and finance teams to manage cash flow, ensuring optimal working capital and payment schedules. Monitor cash disbursements, ensuring that payments align with company liquidity and cash flow projections. Audit & Internal Controls: Maintain internal controls to ensure the accuracy of accounts payable transactions and safeguard company assets. Facilitate audits and respond to inquiries from external auditors, ensuring compliance with all regulatory requirements and company policies. Lead process improvements to address any audit findings and reduce risk. Cross-Functional Collaboration: Collaborate with other departments, including purchasing, logistics, and finance, to ensure alignment on payment terms, reporting, and inventory management. Support senior management and the retail subsidiary's leadership team with financial insights related to accounts payable and vendor management.Qualifications: Education: Bachelor's degree in Accounting, Finance, Business Administration, or related field (CPA or relevant certifications preferred). Experience: Minimum of 8-10 years of experience in accounts payable, finance, or accounting, with at least 5 years in a leadership or managerial role. Proven experience overseeing accounts payable functions in both distribution and retail environments. Experience managing large teams and working with multi-location operations, ideally in a multi-entity organization. Strong knowledge of accounts payable processes, systems, and technology, including experience with ERP and AP automation tools. Skills: Strong leadership and team management skills, with the ability to motivate and guide teams through process improvements and changes. Excellent organizational and problem-solving skills, with a keen eye for detail and accuracy. Ability to manage multiple priorities in a fast-paced, dynamic environment. Strong communication and interpersonal skills, with the ability to interact effectively with vendors, internal teams, and senior management. Deep understanding of cash management, accounts payable aging, and financial reporting. Technical Skills: Proficiency with accounting software (e.g., SAP, Oracle, or similar ERP systems). Advanced Excel skills (pivot tables, VLOOKUP, and data analysis). Familiarity with AP automation tools and cloud-based platforms.Travel Requirements: Travel will be required to visit retail accounts payable team members in other cities. First year travel will be heavier up to 30%. Compensation: Competitive salary based on experience Comprehensive benefits package, including health, dental, vision, 401(k), and more Performance-based incentives Vaco values a diverse workplace and strongly encourages women, people of color, LGBTQ+ individuals, people with disabilities, members of ethnic minorities, foreign-born residents, and veterans to apply. EEO Notice Vaco is an Equal Opportunity Employer and does not discriminate against any employee or applicant for employment because of race (including but not limited to traits historically associated with race such as hair texture and hair style), color, sex (includes pregnancy or related conditions), religion or creed, national origin, citizenship, age, disability, status as a veteran, union membership, ethnicity, gender, gender identity, gender expression, sexual orientation, marital status, political affiliation, or any other protected characteristics as required by federal, state or local law. Vaco LLC and its parents, affiliates, and subsidiaries are committed to the full inclusion of all qualified individuals. As part of this commitment, Vaco LLC and its parents, affiliates, and subsidiaries will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@vaco.com . Vaco also wants all applicants to know their rights that workplace discrimination is illegal. By submitting to this position, you agree that you will be giving Vaco the exclusive right to present your as a candidate for the foregoing employment opportunity. You further agree that you have represented information about yourself accurately and have not affirmatively misrepresented your qualifications. You also agree to maintain as confidential, to the fullest extent permitted by law, any information you learn from Vaco about the position and you will limit disclosure of information about the position only to the extent necessary to perform any obligations in furtherance of your application. In exchange, Vaco agrees to exercise reasonable efforts to represent you through all solicitation, job screening and resume dispersal. Privacy Notice Vaco LLC and its parents, affiliates, and subsidiaries ("we," "our," or "Vaco") respects your privacy and are committed to providing transparent notice of our policies. California residents may access Vaco's HR Notice at Collection for California Applicants and Employees here. Virginia residents may access our state specific policies here. Residents of all other states may access our policies here. Canadian residents may access our policies in English here and in French here. Residents of countries governed by GDPR may access our policies here. Pay Transparency Notice Determining compensation for this role (and others) at Vaco depends upon a wide array of factors including but not limited to: the individual's skill sets, experience and training; licensure and certification requirements; office location and other geographic considerations; other business and organizational needs. With that said, as required by local law, Vaco believes that the following salary range referenced above reasonably estimates the base compensation for an individual hired into this position in geographies that require salary range disclosure. The individual may also be eligible for discretionary bonuses.