Director, Accounts Payable
What This Position is All About:
The Director, Accounts Payable will be responsible for the overall leadership and direction of the Accounts Payable shared services team, supporting Saks. The incumbent is responsible for the efficient and accurate processing of supplier invoices (both expense and merchandise) as well as any associated adjustments. The Director is the key point of contact for both external stakeholders (e.g. Vendors) and internal stakeholders (e.g. Merchants, Logistics, other Finance teams, Vendor Relations, etc.) to address any concerns or issues in a timely manner. In particular, the incumbent will ensure that the AP team integrates seamlessly with the Procurement and Merchant organizations to support the joint management of both expense and merchandise suppliers from supplier set-up and maintenance as well as performance monitoring. This role will be the “face” of the Shared Service AP team, and must demonstrate a high degree of customer orientation to meet the needs of internal “customers / business partners” across Saks. The incumbent will be responsible for the overall quality of service delivery from AP to the organization, including acting as an escalation point to resolve and correct any issues / concerns raised by either internal customers or external vendors. This role will also form an integral part of the Finance Shared Service leadership team in providing insights into building out a successful Finance Shared Services organization.
Role responsibilities include:
- Manages Accounts Payable function for Saks
- Vendor master file maintenance, including oversight of vendor set up process and ongoing maintenance
- Timely and accurate processing of vendor invoices (expense, merchandise)
- Disbursements and Payment processing (cheque / wire / electronic)
- Accounting and period-end close
- Vendor Relations including AP Help Desk
- Vendor rebates and allowances
- Monitor the invoice processing activities, and proactively manage any issues impacting the accuracy or timeliness of vendor payments.
- Act as the “face” of the Accounts Payable team, and exhibit a high degree of customer service for internal “customers / business partners” across the organization. Acts as the focal point for any performance issues / challenges that are escalated for resolution both within Saks (e.g. Buyers, Procurement) and external suppliers.
- Builds productive customer relationships with all of the key stakeholders / customers of AP across the Saks organization to promote and deliver a high level of proactive service to maintain a high degree of customer satisfaction.
- Develops implements and maintains systems, procedures and policies, including accounts payable functions to ensure adherence to company guidelines.
- Develops and monitors compliance with all financial and accounting policies, including Delegation of Authority (DoA) at all locations to ensure all payments are properly authorized.
- Ensures that all documentation (process flows, desktop procedures, policies, procedures, control documentation, etc.) is accurate and complete and maintained in accordance with Saks policy.
- Institutes and maintains internal control procedures and financial accountability, including ICOFR for end-to-end payables function.
- Monitors the health of the payables function through the creation and monitoring of reports and key performance indicators.
- Manages monthly closing of AP and posting of month-end information and ensures the accuracy of financial statements including timely completion of Account Reconciliations.
- Works closely with the External Auditor as part of their quarterly review / annual audit and is responsible for the preparation/review of audit binders & schedules.
- Responsible for the performance of the geographically distributed AP team, including development, training and promotion/recruitment/terminations;
- Responsible for overseeing and ensuring the performance standards of the AP services provided by an outsourcing vendor.
- Leads and participates in special projects as required.
The successful candidate should be a respected leader, with a quantifiable track record of success in delivering results within a large complex organization. He/she must have strong business acumen, and the ability to quickly assess a new environment and develop solutions that support the business strategy, critical objectives, and cultural norms. He/she must be creative with a strategic mindset along with the ability to turn concepts into action. He/she must have strong relationship building and influence skills. This role requires a player/coach mentality, capable of thinking strategically as well as rolling up one’s sleeves and getting into the work. The successful candidate will be a change agent who is flexible, resilient, and able to thrive in a dynamic, rapid paced environment. He/she will embody a culture of taking smart risks and innovating to win.
- Ten plus years of progressively responsible accounts payable experience in large, complex publicly listed organizations.
- Experience in the retail industry, while not required, is preferred.
- Experience working with a Shared Services environment is preferred.
- Experience working with a geographically distributed team, including offshore, is preferred
- A minimum of 5 (five) years of management experience with a team of reports, with specific experience managing a team in multiple geographies.
- Demonstrated ability to lead, challenge and positively influence a distributed team, including coaching/staff development and management in a fast-paced and demanding environment.
- Understanding of experience with complex accounting, internal controls, financial systems, and processes.
- Direct experience with annual audits from a public company perspective.
- Knowledge of accounting standards (e.g. IFRS, GAAP), experience with controls – including testing and compliance reporting (e.g. Sarbanes-Oxley, 52-109) and tax rules (e.g. VAT, HST, Sales Tax) highly desirable.
- Superior communication skills (written / verbal) including a proven ability to engage with senior executives (both within Finance as well as more broadly within the organization)
- A proven ability to build strong business relationships beyond the finance team, as well as ability to effectively manage the needs of multiple stakeholder groups.
- Demonstrated understanding and acceptance for responsibility of confidentiality.
- Experience working with a Tier 1 ERP required - Oracle and/or SAP preferred.
- Ability to perform complex financial analysis techniques and understand financial statements.
- Strong organizational / time management skills
- Demonstrated management, leadership and problem-solving skills.
- Demonstrated experience managing a geographically distributed team is critical;
- Direct experience in an ERP implementation is highly desirable
- Direct experience in AP change (new systems and/or new processes) obtained either through merger integration or corporate restructuring is highly desirable;
- The candidate will need to be a self-starter, be able to manage in an environment of change and with a significant workload (definitively not 9-5 in the first years).
- The candidate will be the front face of AP to multiple stakeholders across all of our banners & external vendors – high level communication skills, presence and engagement are critical
- Bachelor’s Degree, with business or accounting background preferred. Accounting designation preferred, but not required.
Thank you for your interest with Saks. We look forward to reviewing your application.
Saks provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics. In addition to federal law requirements, Saks complies with applicable state and local laws governing non discrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence,compensation and training.
Saks welcomes all applicants for this position. Should you be individually selected to participate in an assessment or selection process, accommodations are available upon request in relation to the materials or processes to be used.