Accounts Payable Manager (3/2 Hybrid Work Schedule) at Castleton Commodities International LLC in Stamford, Connecticut

Job Description:

Castleton Commodities International is seeking a highly skilled and experienced Accounts Payable Manager to lead our Accounts Payable Department. This critical role encompasses the management of all aspects of the accounts payable function, ensuring the efficient, accurate, and timely processing of invoices and payments. The ideal candidate will bring a minimum of 5 years of relevant experience. Key to this position is a robust background in vendor management, 1099 reporting, AR/AP aging analysis, and a proven track record in process improvement.

Responsibilities:

Invoice Processing and Coding:

• Lead the accounts payable function to ensure the efficient and accurate processing of invoices and payments


• Implement and maintain controls to prevent duplicate payments, underpayments, overpayments, and other payment discrepancies, including the recovery of overpayments and resolution of vendor disputes


• Develop and provide comprehensive training and clear guidelines for all staff involved in the invoice submission process, ensuring those submitting invoices have a strong understanding of the coding system, expense categories and cost centers, reducing errors and ensuring consistency across the organization


• Serve as the point of contact for external auditors and internal departments regarding accounts payable related inquires.

System Expertise and Support:

• Serve as the primary system expert for the Accounts Payable Department, demonstrating in-depth knowledge of the SAP system, workflows, and integration with other financial systems


• Act as the key liaison between the Accounts Payable Department and IT/system support teams to address and resolve end-user issues


• Maintain up-to-date documentation on system procedures, guidelines and troubleshooting steps to assist end-users in navigating the Accounts Payable system effectively

Vendor Management and Onboarding:

• Oversee the vendor onboarding process, including setting up new vendors in the system, verifying tax information, and ensuring compliance with company policies


• Maintain relationships with vendors, serving as the primary point of contact for all payment-related inquiries


• Manage and regularly update vendor information, including addresses, payment instructions, etc., to ensure accuracy

1099 Reporting:

• Manage the preparation of annual 1099 forms for vendors, as required by IRS regulations.


• Maintain accurate records of contractor payments, verifying the accuracy of tax identification numbers and ensuring that all qualifying payments are reported correctly.


• Stay informed on tax law changes that may impact 1099 reporting.

AR/AP Aging Reports

• Develop, monitor, and analyze accounts receivable and accounts payable aging reports to ensure timely payments and collections.

Continuous Improvement:

• Continuously seek opportunities to streamline accounts payable processes, reduce errors and improve efficiency.


• Automate manual processes and develop best practices for invoice processing and payment management.

Qualifications:

• Bachelor's degree in Accounting, Finance, or related field.


• Approximately 5 to 7 years of experience in accounts payable management.


• Experience with SAP ERP system is a plus.


• Strong understanding of vendor management processes, including onboarding and compliance.


• Proficiency in 1099 reporting requirements.


• Ability to analyze AR/AP aging reports.


• Excellent communication skills and ability to work effectively with cross-functional teams.