Accounts Payable Lead

The Accounts Payable Lead is responsible for managing the full accounts payable cycle in a high-volume environment, ensuring timely and accurate payment of invoices, vendor statements, and related financial obligations. This role requires strong oversight of month-end duties, including accruals, vendor reconciliations, and the preparation of detailed management reports to support financial decision-making. The ideal candidate will excel in problem-solving vendor issues, maintaining accuracy, and leveraging technology such as Oracle (an asset) to streamline processes. This position plays a critical role in maintaining vendor relationships and ensuring operational efficiency within the Finance Department.

Specific Responsibilities:

• Oversee the accounts payable process in a high-volume environment, managing the coding, costing, and approval of invoices to ensure accurate and timely payments to vendors.
• Perform month-end duties, including preparing accruals, reconciling accounts, and ensuring all financial records are accurate and up to date for reporting purposes.
• Problem-solve vendor issues by investigating discrepancies, resolving payment disputes, and responding to inquiries in a timely and professional manner to maintain strong vendor relationships.
• Conduct vendor statement reconciliations monthly, verifying account information, invoice details, and payment records to ensure accuracy and compliance with payment terms.
• Prepare and analyze management reports, including monthly accounts payable summaries, aging reports, and expenditure analyses, to provide actionable insights to the Controller.
• Utilize Oracle systems (preferred) to process invoices, run cheque payments, and manage financial data; ensure all electronic funds transfers (EFTs) and cheque runs are executed by scheduled deadlines.
• Maintain accurate electronic and paper-based vendor files, ensuring proper documentation, coding, and authorization of invoices in compliance with organizational policies.
• Identify and implement process improvements to enhance the efficiency and accuracy of accounts payable operations, including automation of routine tasks where applicable.
• Support internal and external audits by providing accurate documentation, reports, and explanations of accounts payable processes and transactions.
• Collaborate with cross-functional teams, including procurement and budgeting, to ensure alignment on vendor payments and financial reporting.

Other Duties:

• Assist in onboarding new vendors, verifying banking information, and setting up payment terms in Oracle or other systems.
• Monitor and manage payment schedules to ensure compliance with vendor agreements and avoid late payment penalties.
• Reverse and re-allocate payments as needed, ensuring proper documentation for audit trails.
• Assist in preparing budgets and forecasts for the accounts payable function, ensuring expenditures align with organizational goals.
• Provide training and guidance to junior accounts payable staff on best practices, system usage, and process adherence.
• Backfill for other accounts payable roles during peak periods or absences, ensuring continuity of operations.
• Perform additional finance-related tasks as assigned by the Controller.

Qualifications:

• Completion of a community college business administration diploma with a concentration in accounting (or equivalent education).
• Minimum of 3-5 years of accounts payable supervisory experience in a high-volume environment, with a proven track record of managing the full AP cycle.
• Experience with Oracle financial systems is a strong asset; proficiency in other ERP systems is also beneficial.
• Advanced proficiency in Microsoft Office Suite (Excel, Word) for data analysis, reporting, and documentation.
• Strong problem-solving skills, particularly in resolving vendor payment issues and discrepancies.
• Excellent time management and organizational skills, with the ability to prioritize tasks and meet deadlines in a fast-paced environment.
• High attention to detail and a commitment to maintaining accuracy in financial records and reporting.
• Effective verbal and written communication skills to liaise with vendors, internal teams, and senior management.
• Ability to work collaboratively as a team player while also taking ownership of assigned responsibilities.
• Experience working with direct commodity suppliers or in a multi-location company is an asset.

Working Conditions:

• This role operates in a high-volume, fast-paced office environment with strict deadlines for payment cycles and reporting.
• Occasional overtime may be required during month-end, year-end, or audit periods.
• The position requires a high level of focus and accuracy to manage large volumes of financial data and vendor interactions.