Senior Manager of Accounts Payable & Accounts Receivable

Senior Manager – Accounts Payable & Accounts ReceivableCompany OverviewOur client is an established organization with a strong presence in Chicago and a sophisticated accounting and finance function. The company operates in a collaborative, service-oriented environment that emphasizes financial accuracy, operational efficiency, and continuous improvement.This highly visible leadership opportunity offers responsibility for managing accounting professionals, improving payment and collection processes, developing operational strategies, and implementing initiatives that strengthen financial performance across the organization.Location, Compensation & BenefitsLocation: Downtown Chicago, ILWork Arrangement: Hybrid – 3 days per week in the officeBase Salary: $140,000–$160,000Additional Compensation: 10% bonusWhy This OpportunityJoin an established organization with a sophisticated accounting and finance infrastructureTake ownership of both accounts payable and accounts receivable operations, including collections and cash management processesLead and develop experienced accounting professionals responsible for critical financial functionsPlay an influential role in improving payment processing, collections performance, and departmental efficiencyEnjoy a hybrid schedule offering flexibility and regular collaboration with finance leadershipPosition OverviewThe Senior Manager – Accounts Payable & Accounts Receivable will provide overall leadership and strategic direction for the organization's accounts payable, accounts receivable, and collections functions.This individual will oversee accounting personnel responsible for invoice processing, vendor payments, receivables administration, cash application, and collection activities while ensuring accurate financial records, timely transaction processing, and compliance with established internal controls.Key ResponsibilitiesAccounts Payable ManagementProvide overall leadership for the accounts payable function, ensuring accurate and timely processing of high-volume financial transactionsOversee the complete AP cycle, including vendor invoice processing, coding, approvals, payment scheduling, and disbursementsPartner with AP leadership to establish efficient workflows, balance processing volumes, and maintain appropriate service standardsEnsure vendor payments are processed in accordance with internal policies, established approval procedures, and financial controlsMonitor accounts payable aging, outstanding obligations, and payment activity to identify potential issuesReview vendor account reconciliations and resolve discrepancies involving invoices, payments, and account balancesAccounts Receivable & Collections ManagementOversee accounts receivable operations, including customer billing, payment application, collections, and receivables reconciliationProvide leadership and guidance to employees responsible for managing outstanding customer balances and collection activitiesReview accounts receivable aging reports to identify overdue balances, payment trends, and potential collection concernsDevelop and implement strategies to improve collections performance and reduce outstanding receivablesMonitor cash application activities to ensure customer payments are accurately recorded and applied to appropriate accountsInvestigate payment discrepancies, unapplied cash, billing issues, and other matters affecting receivables accuracyTeam Leadership & DevelopmentLead, coach, and develop accounting professionals responsible for accounts payable, accounts receivable, and collectionsProvide strategic direction to accounting managers and team members while remaining involved in operational problem-solvingEstablish clear departmental expectations, individual performance objectives, and accountability standardsEvaluate employee performance and identify opportunities for professional growth, training, and advancementProvide hands-on mentorship and constructive feedback to strengthen employee capabilities and operational effectivenessFinancial Reporting & Month-End CloseOversee monthly closing activities related to accounts payable and accounts receivableReview general ledger reconciliations and supporting schedules to ensure the accuracy of AP and AR balancesMonitor outstanding liabilities, receivables, and related account activity to identify discrepancies requiring resolutionEnsure accounting transactions are recorded accurately and in accordance with established accounting principlesCoordinate with corporate accounting and finance personnel to support financial reporting requirementsProcess Improvement & Financial SystemsEvaluate existing AP and AR workflows to identify inefficiencies, control weaknesses, and opportunities for improvementLead initiatives focused on process standardization, automation, and operational efficiencyPartner with finance and technology teams on financial system enhancements and implementation projectsIdentify opportunities to streamline invoice approvals, payment processing, billing, cash application, and collections workflowsDevelop and maintain documented policies, procedures, and operational guidelines for AP and AR activitiesImplement scalable accounting practices that support changing business requirements and transaction volumesQualificationsBachelor's degree in Accounting requiredMinimum of 10 years of progressive accounting operations experience, including significant responsibility for accounts payable and accounts receivableDemonstrated experience managing high-volume, full-cycle accounts payable operationsStrong background overseeing accounts receivable, collections, cash application, and related financial processesPrevious experience supervising accounting managers, team leads, or multiple accounting personnelProven ability to improve AP and AR performance through process redesign, stronger internal controls, and more effective workflowsExperience establishing departmental goals, monitoring performance indicators, and communicating results to senior leadershipStrong understanding of accounting principles and their application to accounts payable and accounts receivable transactionsExperience reviewing AP and AR reconciliations and supporting monthly financial close activitiesDemonstrated success coaching employees, providing constructive feedback, and developing accounting teams