What are the responsibilities and job description for the Accounts Payable Specialist position at PONCE BANK?
Impact
The Accounts Payable Specialist plays a crucial role in ensuring the timely and accurate payment of financial obligations and maintaining precise general ledger entries, thereby safeguarding the Bank’s reputation and financial integrity.
Responsibilities
The Accounts Payable Specialist is responsible for a variety of tasks that support the Accounts Payable function, coordinating efforts within the department and across other departments.
Essential Functions
- Review the Accounts Payable inbox and scanned mail to ensure all invoices are captured. Verify invoices and supporting documentation for timely and accurate processing. Obtain necessary authorizations and approvals for invoices and check requests. Assign appropriate general ledger codes and handle reversals and stop payments as needed.
- Respond to vendor inquiries, reconcile statements, and resolve discrepancies. Process and audit reimbursement requests for company expenses and credit card charges. Maintain organized vendor files and monitor changes to vendor maintenance records.
- Review contracts and payments to ensure compliance with company policies. Assist in determining eligibility for new vendors and complete necessary setup and 1099 maintenance.
- Assist with month-end closing activities, including expense variance explanations. Prepare regular, ad hoc, and special reports for management review and analysis.
- Conduct research and follow-up on vendor statements and discrepancies. Monitor and clear outstanding items in the ACH checking account.
- Coordinate tasks with other personnel within the department and assist branches in resolving accounts payable inquiries. Provide backup support for other accounting duties and participate in process improvement initiatives.
- Adhere to laws and organizational policies to promote a harassment-free workplace. Support compliance with regulatory requirements and complete mandatory training.
- Compile and report pertinent information to the immediate supervisor and respond to inquiries from vendors and Bank personnel within established time frames.
Ancillary Functions
1. Assures adherence to Bank policies and procedures and federal and state regulatory requirements.
2. Provides cross-functional support to other areas of the department and the Bank where service or assistance is needed.
3. Performs tasks which are supportive in nature to the essential functions of the job, but which may be altered or re-designed depending upon individual circumstances.
Mandatory Training Curricula
Training is required of all Bank staff as related to regulatory mandated compliance topics and courses required for specific job functions. Career enhancement training courses are also available. Please refer to course catalog and management for details.
Competencies (refer to Competencies Library)
Skills
• Strong problem solving skills, basic accounting principles knowledge, documentation skills, research and resolution skills, data analysis and multi-tasking skills.
• Ability to work independently and with a team in a fast-paced and high volume environment with emphasis on accuracy and timeliness.
• Thorough knowledge of applicable accounts payable/general ledger systems, chart of accounts, accrued expenses, and fixed assets.
• Able to perform mathematical computations such as percentages, fractions, addition, subtraction, multiplication and division quickly and accurately.
• Proficient in MS Excel, V-lookups, pivot tables.
• Highly organized, detail oriented, have a sense of urgency, flexible and able to deal with frequent interruptions and changing priorities.
• Strong communication, customer service and interpersonal skills, especially with both technical and financial backgrounds.
Physical Demands
The physical and related demands described in this section are representative of those that must be met by an employee to successfully perform the essential functions of this job. This job is mostly sedentary in nature, but may occasionally involve lifting files and other materials that weigh up to 20 lbs. Employees in this job must be able to work in an office environment during regular business hours where they come into regular and frequent contact with internal and external customers and other members of the public. Therefore, employees in this position are expected to have consistently positive interactions with the public.
