Manager, Accounts Payable

About the position

Reporting to the Assistant Vice President for Procurement and Payment Services, the Manager, Accounts Payable sets the strategic direction for the University's Accounts Payable function. The Manager, Accounts Payable is responsible for ensuring compliance with all appropriate University, federal, and state policies and regulations. The position requires excellent customer service and relationship building skills. The ideal candidate will be a proactive worker with the ability to anticipate issues and provide guidance on solving problems.

Responsibilities

• Manages the University's central accounts payable department responsible for $2.5B in annual payments which includes ensuring appropriate quality procedures are embedded in the accounts payable process.
• Monitors processes and procedures to maintain the integrity of the internal controls to prevent audit findings and monetary risks to the University, such as fraud, duplicate payments, and penalties for non-compliance.
• Manages a team of professional level employees responsible for all University accounts payable transactions to ensure completeness, accuracy, and conformity to University policy, IRS regulations, and generally accepted accounting standards.
• Manages a team of professional level staff responsible for reconciliation of variance accounts, identification of and correction of errors, and ensuring that funds are properly reflected in our systems and properly claimed by our clients.
• Provides guidance and coordinate with clients (internal campus users and external suppliers) to ensure efficient and accurate payment processing and resolution of discrepancies, including assisting with identifying and reissuance of unclaimed SUA and ACH payments.
• Conducts periodic compliance audits and resolves any issues raised by internal and external stakeholders.
• Develops analytical models to identify trends to improve the customer experience, and helps to ensure/improve the overall quality of service delivery.
• Ensures adherence to University policies and IRS regulations.
• Assists as requested with the testing of any Accounts Payable system changes related to upgrades and new releases.
• Supports the Assistant VP, Procurement and Payment Services in identifying and implementing opportunities for continuous improvements in processes, systems, and procedures.
• Ensures service is delivered with a strong focus on customer satisfaction and in accordance with established Service Level Agreements.
• Hires, trains, evaluates, leads, and develops the activities of employees who perform the accounts payable and reconciliation roles for the Payment Services organization.
• Develops and completes departmental goals including identifying and implementing continuous improvement efficiencies.
• Develops and maintains effective relationships with key stakeholders on campus as well as external constituents.
• Manages accounts payable processes and reviews work related to verifying invoices, computing discounts, coding expenses, preparing vouchers, and issuing checks for payment.
• Monitors the day-to-day payments and receipts of bills, as well as the maintenance of accounts payable and receivable ledgers.
• Performs other related work as needed.

Requirements

• Minimum requirements include a college or university degree in related field.
• Minimum requirements include knowledge and skills developed through 7+ years of work experience in a related job discipline.

Nice-to-haves

• Bachelor's degree, preferably in accounting, finance, or related area.
• MBA.
• A minimum of seven years of experience in a financial setting with a minimum of 3 years of experience in a supervisory role.
• Background in a customer service environment.
• Related business experience with strong emphasis on accounts payable and expense management.
• Familiarity with administrative processes, procedures, and systems within a university setting.
• Experience in a not-for-profit higher education institution.
• Prior experience as a functional user with an ERP system, preferably Oracle Cloud.
• CPA or accounts payable certification.

Benefits

• The University of Chicago offers a wide range of benefits programs and resources for eligible employees, including health, retirement, and paid time off.