Accounts Payable Specialist, Full-Time - Days

About the role

Join UChicago Medicine as an Accounts Payable Specialist in our Accounts Payable department. This position will be primarily a work from home opportunity with the requirement to come onsite as needed to our Burr Ridge location. You may be based outside of the greater Chicagoland area.

Responsibilities

• Receive, review, and process invoices accurately and efficiently within the integrated technology-based ERP system.
• Ensure invoices are properly coded, approved, and matched with purchase orders or receiving documentation.
• Resolve discrepancies or issues related to invoices in a timely manner.
• Utilize financial software systems to systematically review vendor statements, identifying discrepancies, inaccuracies, and anomalies.
• Conduct detailed examinations of transaction records, invoices, and payment histories to ensure alignment with vendor agreements and contractual terms.
• Implement root cause analysis techniques to uncover underlying reasons for discrepancies or delays in invoice processing and payment.
• Collaborate with cross-functional teams, including Purchasing, Sourcing, and Business Units, to investigate and understand the origin of exceptions within the accounts payable process.
• Document and categorize identified exceptions, including errors in pricing, quantity discrepancies, or communication breakdowns.
• Utilize customer relationship management (CRM) software or ticketing systems to ensure accurate tracking and logging of inquiries.
• Conduct thorough investigations into inquiries to identify root causes and potential resolutions.
• Collaborate with relevant stakeholders, including internal departments and external partners, to gather necessary information and resources for inquiry resolution.
• Communicate effectively with customers and vendors throughout the resolution process, providing regular updates on progress and expected timelines for resolution.
• Process payments to vendors using leading payment solutions integrated within the ERP system.
• Review payment terms and schedules to ensure timely and accurate payments while maximizing cash flow optimization.
• Reconcile payment transactions and resolve any discrepancies or issues related to payments.
• Manage PO’s Received Not Invoiced (RNI) report & process to reduce period close accrual volume & expense impact to further ensure the accuracy and integrity of financial reporting.
• Research and resolve transaction/process exceptions related to EDI, Invoice Inbound Collaboration Messaging, IDR (OCR), and Oracle open interface tables.
• Support and execute spreadsheet upload process for high-volume invoice business units and suppliers.
• Collaborate with cross-functional teams, including Purchasing, Sourcing, Treasury, and IT, to ensure alignment and integrity of accounts payable processes with other business functions.
• Participate in project teams or initiatives aimed at improving overall business processes and systems.
• Identify opportunities for process improvements and automation within the accounts payable function.
• Maintain vendor records in the ERP system, including setup, updates, and maintenance of vendor information.
• Collaborate with Supply Chain team to ensure vendor contracts and agreements are accurately reflected in the system.

Qualifications

• Bachelor’s degree in accounting, Finance, Business Administration or related field
• Proven experience in accounts payable roles, preferably in a technology-driven environment with integrated ERP systems
• Strong understanding of procure to pay processes and principles
• Excellent analytical and problem-solving skills
• Strong problem-solving skills and the ability to analyze and root cause complex workflow, system, and process exceptions
• Strong attention to detail and accuracy
• Experience with ERP systems, preferably Oracle
• Proficiency in financial software (e.g., Oracle, Strata, Lawson) and MS Excel
• Excellent communication and interpersonal skills
• Ability to work effectively in a fast-paced and dynamic environment
• Ability to prioritize tasks, meet deadlines, and work independently

Preferred Qualifications

• Certified Accounts Payable Professional (CAPP): Offered by the Institute of Finance and Management (IOFM), preferred.