Director of Accounts Receivable and Accounts Payable

Job Summary:

The Director of Accounts Receivable (AR) and Accounts Payable (AP) is responsible for overseeing the financial operations related to the company's incoming and outgoing payments. This leadership role involves managing the AR and AP teams, ensuring accurate and timely processing of invoices, payments, and collections, and developing strategies to optimize cash flow. The director will play a key role in maintaining strong relationships with vendors, clients, and internal departments, while adhering to financial policies and compliance regulations.

Key Responsibilities:

Accounts Receivable Management:
? Oversee the end-to-end accounts receivable process, including credit, invoicing, collections, and cash applications.
? Ensure timely and accurate billing, working closely with sales and client services to resolve disputes.
? Monitor aging reports and manage collections to minimize overdue accounts and improve cash flow.
? Develop strategies for optimizing the credit and collections process.
? Maintain strong relationships with customers to ensure timely payments and resolve payment issues.

Accounts Payable Management:
? Oversee the accounts payable process, ensuring that vendor invoices are accurately processed and payments are made in a timely manner.
? Manage the AP team to ensure accurate recording of expenses and proper classification of transactions.
? Work with procurement and operations to ensure timely approval of invoices and alignment with contractual terms.
? Develop and implement policies to improve AP efficiency, such as early payment discounts and electronic payment systems.
? Ensure compliance with internal controls, tax regulations, and other financial policies.

Team Leadership and Development:
? Lead, mentor, and develop AR and AP staff to ensure high performance and continuous improvement.
? Ensure cross-functional collaboration between AR, AP, and other departments (e.g., sales, procurement, operations) to streamline processes.
? Set performance goals for the AR and AP teams and regularly review progress against KPIs.

Financial Reporting and Analysis:
? Prepare regular reports on AR and AP performance, including cash flow forecasts, aging reports, and payment schedules.
? Analyze financial data to identify trends, risks, and opportunities for process improvements.
? Collaborate with the finance department to reconcile accounts and ensure accurate financial reporting.
? Assist in the annual audit process by providing necessary documentation and analysis related to AR and AP.

Policy Development and Compliance:
? Develop and maintain AR and AP policies and procedures that align with the company?s financial strategy.
? Ensure compliance with all legal and regulatory requirements, including tax and auditing standards.
? Implement internal controls to safeguard company assets and prevent fraud.

Systems and Process Improvement:
? Evaluate and implement accounting software and technology solutions to enhance efficiency in AR and AP operations.
? Identify opportunities for automation and process improvement to streamline workflows.
? Drive continuous improvement initiatives to optimize cash flow management and reduce costs.

Qualifications: ? Bachelor?s degree in Accounting, Finance, Business Administration, or a related field. MBA or CPA preferred. ? 7-10 years of experience in accounts receivable, accounts payable, or general accounting, with at least 5 years in a leadership role. ? Strong knowledge of accounting principles, financial reporting, and cash flow management. ? Experience with ERP systems and financial software is required. ? Proven leadership and team management skills. ? Excellent analytical, problem-solving, and decision-making abilities. ? Strong interpersonal and communication skills, with the ability to collaborate across departments and with external stakeholders. ? Ability to prioritize and manage multiple tasks in a fast-paced environment. ? Knowledge of relevant laws and regulations (e.g., GAAP, tax laws) and the ability to ensure compliance.

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