Director of Accounts Payable

Director of Accounts Payable
Location : Memphis, TN
Reports to: SVP Accounting
Vaco is assisting its client in its search for an experienced Director of Accounts Payable to oversee the accounts payable functions for both the parent company and its retail subsidiary, ensuring accuracy, compliance, and efficiency in all accounts payable processes.
Position Overview:
The Director of Accounts Payable will be responsible for overseeing the accounts payable functions across two distinct but interrelated entitiesthe parent companys 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 distribution business and its retail division.
Key Responsibilities:

• Accounts Payable Leadership:
  • Oversee the daily operations of the accounts payable department for both the distribution company and its 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 subsidiarys leadership team with financial insights related to accounts payable and vendor management.

Qualifications:

• Education:
  • Bachelors 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 (e.g., Coupa, Ariba, or other AP systems) 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 incentive

Determining compensation for this role (and others) at Vaco/Highspring depends upon a wide array of factors including but not limited to the individuals skill sets, experience and training, licensure and certifications, office location and other geographic considerations, as well as other business and organizational needs. With that said, as required by local law in geographies that require salary range disclosure, Vaco/Highspring notes the salary range for the role is noted in this job posting. The individual may also be eligible for discretionary bonuses, and can participate in medical, dental, and vision benefits as well as the companys 401(k) retirement plan. Additional disclaimer: Unless otherwise noted in the job description, the position Vaco/Highspring is filing for is occupied. Please note, however, that Vaco/Highspring is regularly asked to provide talent to other organizations. By submitting to this position, you are agreeing to be included in our talent pool for future hiring for similarly qualified positions. Submissions to this position are subject to the use of AI to perform preliminary candidate screenings, focused on ensuring minimum job requirements noted in the position are satisfied. Further assessment of candidates beyond this initial phase within Vaco/Highspring will be otherwise assessed by recruiters and hiring managers. Vaco/Highspring does not have knowledge of the tools used by its clients in making final hiring decisions and cannot opine on their use of AI products.