What are the responsibilities and job description for the Accounts Payable Supervisor position at Las Vegas Grand Prix, LLC?
The FORMULA 1 HEINEKEN LAS VEGAS GRAND PRIX has rapidly become a world-class event in its first two years. This three-day spectacle attracts a global audience to witness the world's greatest drivers and cars navigate the iconic Las Vegas Strip at breathtaking speeds approaching 200 mph.
SUMMARY OF JOB:
As part of the Accounting group, this position will lead the Accounts Payable (A/P) function, including managing timely and accurate processing of invoices, managing vendor relationships, supervising Accounts Payable Clerks, and maintaining the integrity of the accounts payable process.
ESSENTIAL FUNCTIONS (INCLUDE WITHOUT LIMITATION):
- Play a key role supporting the integration of the new procurement system as LVGP transitions from manual invoice processing to purchase order matching.
- Play a key role supporting the integration of the new expenses management system.
- Become AP champion in all matters related to invoice matching and expenses processing, liaising with the Finance team in the UK and training the existing AP team on new processes
- Provide guidance and support to LVGP departments as they transition to purchase order requisitions and the new expenses management system
- Supervise the accounts payable clerks, providing guidance and coaching to ensure efficient workflow and accuracy in all accounts payable processes
- Oversee the preparation and execution of payment batches, ensuring payments are completed before the daily bank cut-off time.
- Collaborate with the Accounting department to manage the timing of payments, ensuring cash flow is optimized while meeting vendor payment deadlines
- Coordinate with internal departments and vendors to prioritize payments and resolve any discrepancies or issues related to invoicing or payments.
- Reconcile vendor statements; prepares, maintains, and reports on records of accounts payables, including processed, pending, and overdue invoices.
- Prepare and review detailed accounts payable reports for management, including aging reports, cash flow forecasts, and payment schedules.
- Respond, research, and resolve vendor issues, open items, and past due balances.
- Code and review invoices for accuracy, appropriate documentation, approvals, and tax rates.
- Manage the accounts payable inbox, ensuring vendor emails are addressed timely and assigning emailed requests to the appropriate accounts payable team members.
- Oversee the preparation and filing of 1099 forms at fiscal year-end in compliance with federal and state regulations.
- Ensure proper classification of vendors and contractors for 1099 reporting and resolve any discrepancies prior to year-end.
- Coordinate with internal departments to gather necessary information and ensure timely distribution of 1099 forms.
- Ensure staff members are adhering to company policies, procedures, and deadlines while maintaining high-quality standards of work
- Assist with identifying areas of process improvements and help implement solutions.
- Special Projects as necessary.
PREFERRED QUALIFICATIONS:
- AA or BS/BA in accounting or related field.
- Prior accounts payable experience in organizations with significant capital projects.
- Ability to gather and analyze information quickly and accurately.
- Experience with Microsoft D365.
MINIMUM QUALIFICATIONS:
- At least five years of experience in accounting and payables processing, with a minimum of two years of experience in a supervisory role.
- Ability to communicate effectively, both orally and in writing.
- Work under pressure, both independently and in collaboration with others, in order to meet deadlines.
- Ability to maintain confidentiality and strong ethical standards.
- Ability to make well-informed decisions and exercise good judgment and discretion in a fast-paced environment and in a variety of situations, including in the absence of express direction.
- Excellent computer skills, including proficiency in Word, Excel, and Outlook, preferred.
- Ability to work in an organized fashion, manage time effectively, take initiative, meet deadlines and multitask.
- Ability to interact positively with co-workers, supervisors, Company personnel, outside vendors and third parties.
- Ability to use a computer for extended periods of time and a telephone frequently.
- Ability to quickly understand and comply with Company policies, procedures and practices.
Las Vegas Grand Prix, Inc. provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type. All employment decisions are based on business needs, job requirements, and individual qualifications without regard to race, color, religion, age, sex (including pregnancy), parental status, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.