University of Chicago Booth School of Business
Staff Accountant
University of Chicago Booth School of Business, Chicago, Illinois, United States, 60290
GENERAL SUMMARY:
The Staff Accountant will manage payment operations and accounts payable for thirty (33) departments in Chicago Booth, totaling an estimated $70 million dollars annually. The position will be responsible for P2P operations, accounts payable, non-purchase order payments, expense reporting, and P2P business analytics. The position will assist the Senior Associate Director in developing the business analytics model to produce monthly and quarterly business metrics/ fiscal closing reports for month-end close process to achieve KPIs of accuracy, completeness and timeliness of invoice and payment processing activities.
The position is responsible for the accurate and timely performance of a variety of accounting and financial functions to ensure that all financial data is recorded and reported in accordance with applicable policies/procedures. The Staff Accountant is required to develop and maintain an understanding of current policies, procedures, and to be in adherence with city, state and federal government regulations
PRINCIPAL DUTIES AND RESPONSIBILITIES:
Manage full A/P cycle and Payment Operations including all aspects of vendor payments totaling approximately $70 million dollars annually.
Manage non-payroll payments to individuals, partnerships, corporations, vendors, suppliers, and other entities.
Work as a lead person for the Accounts Payable/Payment office.
Provide complete back up for the Senior Associate Director.
This requires knowledge of University Procurement Policy and Procedures, Purchase Order System, Expense and Reimbursement Management and Chicago Booth buying practices and conventions.
Understand and comply with the Accounts Payable policies and procedures & review and audit all supplier invoices for policy compliance.
Reviews and timely settles transactions across various payment rails (ACH, wires, check. and card). Actively work toward timely payment to achieve discounts.
Assists the Senior Associate Director in annual Fiscal Closing.
Manage monthly, quarterly and annual A/P and other non-PO payment closing in accordance with University policies.
Develop various aging & business metrics reports to review invoices and payment status. Develop and administer accounts payable database; analyze and manipulate data and prepare standard and ad hoc statistical reports as required.
Collaborate with auditors to help implement and update controls for policy compliance.
Serve as the point person for all vendor inquiries for non-payment & handle all outstanding issues with vendors as warranted; follow up with Client Services, identify recurring problems, determine reasons for problem and seek solutions.
Manage vendor contact & resolve issues as arises with non-payment of invoices. Be a Key contributor to the development of the P2P strategy, roadmap and operational plan.
Manage back-office audit function for staff GEMS expenses totaling $4 million annually. Handle JPMorgan Chase credit card audit and reconciliation.
Manage aging corporate credit card reports and be the key person to communicate with card holders to resolve delinquency to meet SLA.
Work with Senior Associate Director to develop data analytics for major spend categories in Expense Management landscape like Airlines, Hotel, Event, and catering etc.
Assess P2P landscape across Booth and identify needs the units to determine best frame work, process, policies and resources and stakeholders engagement model.
Review current data and work with Senior Director to develop KPIs and business metrics.
Manage recharge operations and GL reconciliation for catering, leasing, and promotional items, etc. totaling $5.8 million annually.
Prepare monthly and annual reconciliation of all recharges against GL.
Support Associate Director with cash receipt management.
Support Senior Associate Director with training opportunities for financial and accounting virtual training series.
KNOWLEDGE, SKILL AND ABILITIES:
BA/BS in Accounting, Business Administration, or Finance is required. A minor or concentration in accounting will be required if the degree is not BA/BS in accounting.
A Masters’ degree in Accounting or Finance is preferable.
Certification in Accounts Payable Management and/or Data Analytics is preferable.
At least 3 years relevant experience of Accounting, Payment Operations is required.
Experience working with generally accepted accounting (GAAP) is preferred.
Large ERP AP and system experience and with databases (MS Access) and leveraging of procurement and payment business software solutions, accounting software and Microsoft Excel, Word, and Outlook are required.
Knowledge of vendor payments with an emphasis on reportable and taxable payment with the ability to analyze and resolve complex accounts payable problems is required.
Considerable knowledge of University FAS (Financial Accounting System) system, Accounts Payable, University Procurement Policy, and Business Law preferred.
Strong analytical and problem solving skills are required.
Good interpersonal communication interpersonal and client service skills (both verbal and written) are required.
Good planning and organizational skills to balance and prioritize work required.
The Staff Accountant will manage payment operations and accounts payable for thirty (33) departments in Chicago Booth, totaling an estimated $70 million dollars annually. The position will be responsible for P2P operations, accounts payable, non-purchase order payments, expense reporting, and P2P business analytics. The position will assist the Senior Associate Director in developing the business analytics model to produce monthly and quarterly business metrics/ fiscal closing reports for month-end close process to achieve KPIs of accuracy, completeness and timeliness of invoice and payment processing activities.
The position is responsible for the accurate and timely performance of a variety of accounting and financial functions to ensure that all financial data is recorded and reported in accordance with applicable policies/procedures. The Staff Accountant is required to develop and maintain an understanding of current policies, procedures, and to be in adherence with city, state and federal government regulations
PRINCIPAL DUTIES AND RESPONSIBILITIES:
Manage full A/P cycle and Payment Operations including all aspects of vendor payments totaling approximately $70 million dollars annually.
Manage non-payroll payments to individuals, partnerships, corporations, vendors, suppliers, and other entities.
Work as a lead person for the Accounts Payable/Payment office.
Provide complete back up for the Senior Associate Director.
This requires knowledge of University Procurement Policy and Procedures, Purchase Order System, Expense and Reimbursement Management and Chicago Booth buying practices and conventions.
Understand and comply with the Accounts Payable policies and procedures & review and audit all supplier invoices for policy compliance.
Reviews and timely settles transactions across various payment rails (ACH, wires, check. and card). Actively work toward timely payment to achieve discounts.
Assists the Senior Associate Director in annual Fiscal Closing.
Manage monthly, quarterly and annual A/P and other non-PO payment closing in accordance with University policies.
Develop various aging & business metrics reports to review invoices and payment status. Develop and administer accounts payable database; analyze and manipulate data and prepare standard and ad hoc statistical reports as required.
Collaborate with auditors to help implement and update controls for policy compliance.
Serve as the point person for all vendor inquiries for non-payment & handle all outstanding issues with vendors as warranted; follow up with Client Services, identify recurring problems, determine reasons for problem and seek solutions.
Manage vendor contact & resolve issues as arises with non-payment of invoices. Be a Key contributor to the development of the P2P strategy, roadmap and operational plan.
Manage back-office audit function for staff GEMS expenses totaling $4 million annually. Handle JPMorgan Chase credit card audit and reconciliation.
Manage aging corporate credit card reports and be the key person to communicate with card holders to resolve delinquency to meet SLA.
Work with Senior Associate Director to develop data analytics for major spend categories in Expense Management landscape like Airlines, Hotel, Event, and catering etc.
Assess P2P landscape across Booth and identify needs the units to determine best frame work, process, policies and resources and stakeholders engagement model.
Review current data and work with Senior Director to develop KPIs and business metrics.
Manage recharge operations and GL reconciliation for catering, leasing, and promotional items, etc. totaling $5.8 million annually.
Prepare monthly and annual reconciliation of all recharges against GL.
Support Associate Director with cash receipt management.
Support Senior Associate Director with training opportunities for financial and accounting virtual training series.
KNOWLEDGE, SKILL AND ABILITIES:
BA/BS in Accounting, Business Administration, or Finance is required. A minor or concentration in accounting will be required if the degree is not BA/BS in accounting.
A Masters’ degree in Accounting or Finance is preferable.
Certification in Accounts Payable Management and/or Data Analytics is preferable.
At least 3 years relevant experience of Accounting, Payment Operations is required.
Experience working with generally accepted accounting (GAAP) is preferred.
Large ERP AP and system experience and with databases (MS Access) and leveraging of procurement and payment business software solutions, accounting software and Microsoft Excel, Word, and Outlook are required.
Knowledge of vendor payments with an emphasis on reportable and taxable payment with the ability to analyze and resolve complex accounts payable problems is required.
Considerable knowledge of University FAS (Financial Accounting System) system, Accounts Payable, University Procurement Policy, and Business Law preferred.
Strong analytical and problem solving skills are required.
Good interpersonal communication interpersonal and client service skills (both verbal and written) are required.
Good planning and organizational skills to balance and prioritize work required.