Responsible for the management of the Accounts Payable Department of the Finance Division of Loyola University Chicago. Such responsibility includes vendor management, invoice and employee expense reimbursement processing, the development and maintenance of appropriate policies and procedures, and reinforcing internal controls to ensure accurate and timely disbursement, reporting and analysis. Part of the Controller’s Office, this role ensures the University’s compliance with accounting, tax and financial regulations. This position is responsible for leading a staff commitment to service excellence, efficiency, timeliness, accuracy, and respect.
Duties and Responsibilities:
• Leads and manages the operations of the full cycle Accounts Payable disbursement function for the University which includes purchase order reconciliation, employee expense reimbursement compliance and check/ACH disbursement processing. • Leads, trains, and supervises work of Accounts Payable staff, following accounts payable best practices. • Establishes and monitors appropriate KPIs to evaluate staff productivity and accuracy. Monitors system metrics to ensure that optimal effort and volume capacities are met. • Collaborates with departments throughout the University community. Collaborates with Purchasing, Treasury, Technology, Accounting and other University departments to develop process improvement initiatives, while leveraging system resources in efforts to enhance departmental operations. • Systematically generates, develops and interprets various levels of accounts payable data elements for analysis, reconciliation and reporting to management, such as spend by vendor, days payable outstanding, vendor discounts earned, etc. • Responsible for the coordination and execution of the timely calculation and preparation of disbursement cycles including system checks, ACH payments, and e-payables. • Responsible for ensuring accuracy of the vendor master file and monitoring all functions including new vendor additions, deletions, profile updates, and debarred vendor review. • Serves as an authorized liaison with the Internal Revenue Service to maintain various regulatory compliance issues such as vendor compliance and eligibility. • Responsible for oversight of the 1099 functions including, 1099-MISC filing, disbursement reconciliation and B-Notice resolution. • Manages the development, discussion, testing, and implementation of significant system upgrades to the Accounts Payable system. • Tests and implements new technologies to improve workflow and eliminate inherent risks and delays in existing processes. • Performs constant evaluation of existing policies and procedures to ensure compliance with various federal, state and local regulatory agencies. • Participates in the efforts surrounding the University document management system as it relates to the payables process. • Performs other duties as required.
Minimum Education and/or Work Experience:
Bachelor’s degree in Accounting or Finance with a minimum of 7 Years of related accounting experience.
Certified Public Accountant and/or Certified Accounts Payable Professional
• Previous management experience managing a high volume Accounts Payable Department, with an emphasis on continuous process improvement, efficient payment methods and technology-driven solutions. Ability to articulate the entire procure-to-pay and supply-chain cycles. • MBA preferred • Higher education experience is a plus. • Strong analytical, process improvement, and problem solving skills. • Experience in accounts payable policy, regulation and taxation issues. • Ability to use analysis to outline complex accounts payable and employee expense reimbursement processes. • Ability to successfully manage and coordinate assigned projects. • Must possess and demonstrate high quality customer service skills (tact, professionalism and courtesy). • Ability to work effectively with senior level faculty and staff.
Must possess strong computer skills including: Microsoft Office, Lawson, PNC Acive Pay, DocFinity, internet navigation, e-mail, etc. Advanced knowledge of Excel capabilities.
Internal Number: 8101838
About Loyola University Chicago
We are Chicago's Jesuit, Catholic University-a diverse community seeking God in all things and working to expand knowledge in the service of humanity through learning, justice and faith. We seek faculty and staff of all faiths who share our passion for our mission and the outcomes we strive to achieve. We are guided by a simple promise: to prepare people to lead extraordinary lives.