Senior Accounts Payable Specialist

Job Title: Senior Accounts Payable Specialist

Company: Lefferts

Department: Accounting
Reports To: Controller

FLSA Status: Exempt

SUMMARY:

The Senior Account Payable Specialist is responsible for overseeing and supporting account payable operations across its real estate development and investment portfolio. This position will be responsible for managing complex vendor payments, overseeing project-related expenditures, ensuring financial accuracy across multiple entities, and supporting accounting controls and process improvements.

The ideal candidate possesses extensive experience in real estate development or construction accounting, strong analytical capabilities, and the ability to independently evaluate and resolve complex financial matters.

RESPONSIBILITIES:

• Oversee account payable operations across multiple development projects, properties, and legal entities.
• Review, verify, code, and process vendor invoices accurately and in a timely manner.
• Match invoices against purchase orders, contracts, and supporting documentation to ensure proper authorization and compliance.
• Process payments through ACH, wire transfers, and checks in accordance with company policies.
• Maintain accurate accounts payable records, including vendor balances, payment histories, and outstanding invoices.
• Monitor payment schedules to ensure timely payments and avoid late fees or disruptions to project operations.
• Investigate and resolve complex invoice discrepancies, duplicate payments, and payment disputes.
• Allocate invoices and expenses to the appropriate development projects, properties, cost centers, and legal entities.
• Coordinate with development, construction, and project management teams to verify invoices and obtain required approvals.
• Review and analyze contractor and subcontractor invoices, contracts, and payment applications to ensure compliance with contractual terms and approved budgets.
• Monitor construction-related expenses, including progress payments, retainage, and change orders.
• Support the preparation and reconciliation of project-related payment requests and construction draws.
• Evaluate project expenditures, identify financial discrepancies and potential risks, and provide recommendations to accounting leadership.
• Maintain accurate documentation of project expenditures to support financial reporting, budget monitoring, and internal controls.
• Maintain accurate vendor records, including W-9 forms, banking information, insurance documentation, and payment terms.
• Establish and maintain professional relationships with vendors, contractors, consultants, and service providers.
• Reconcile vendor statements, accounts payable aging reports, and outstanding balances.
• Serve as the primary point of contact for complex vendor and contractor payment matters, coordinating with project managers and senior leadership as necessary.
• Assist with annual Form 1099 reporting and vendor tax documentation.
• Assist with monthly, quarterly, and year-end accounting close processes, including reconciliation of accounts payable transactions to the general ledger.
• Prepare and analyze accounts payable aging reports and provide updates on outstanding liabilities.
• Maintain organized financial documentation for internal reviews, audits, and external reporting requirements.
• Develop, implement, and maintain accounts payable procedures, approval workflows, and internal financial controls.
• Identify opportunities for operational improvements, lead process enhancement initiatives, and assist with accounting system implementations.
• Provide financial analysis, reporting, and recommendations to accounting leadership to support effective decision-making.
• Ensure compliance with company policies, established accounting procedures, and applicable financial regulations.
• The responsibilities outlined above are intended to describe the general nature and scope of the position and are not an exhaustive list of all duties required.

Requirements

QUALIFICATIONS:

·         Bachelor’s degree in accounting, Finance, or related field.

·         Minimum of 2–5 years of accounting experience, preferably in real estate development or construction-related accounting.

·         Previous experience in real estate development, construction accounting, or property management strongly preferred.

·         Experience processing invoices and payments across multiple companies, entities, or development projects.

·         Familiarity with construction-related documentation, including contracts, payment applications, lien waivers, and retainage, preferred.

·         Excellent analytical, organizational, and problem-solving skills.

·         High attention to detail and accuracy.

·         Strong communication skills with the ability to collaborate across development, finance, and project teams.

·         Ability to manage multiple projects and deadlines in a fast-paced environment.

LANGUAGE SKILLS:

·         Ability to read, analyze, and interpret financial reports, contracts, and loan documents.

·         Ability to write reports, business correspondence, and procedures.

·         Ability to effectively present financial information to management, project teams, and external stakeholders.

REASONING ABILITY:

·         Ability to apply accounting expertise and sound judgment to complex development and construction-related financial matters.

·         Ability to interpret a variety of instructions furnished in written, oral, or schedule form.