The financial Operation Specialist is responsible for managing the procurement of goods and services and ensuring the timely and accurate processing of accounts payable transactions. This role involves coordinating with vendors, monitoring inventory levels, processing purchase orders, and handling invoice payments. The specialist will work closely with the procurement and finance teams to support the organization's operational and financial objectives. 

Key Responsibilities: 

Order Procurement: 

• Manage the procurement process from requisition to delivery, ensuring compliance with company policies. 

• Source and negotiate with suppliers to obtain the best terms and prices for goods and services. 

• Prepare and issue purchase orders, ensuring accuracy and completeness of all details. 

• Monitor and maintain optimal inventory levels to prevent stockouts or overstock situations. 

• Track and manage the delivery of orders, ensuring timely receipt and resolving any issues with suppliers. 

Vendor Management: 

• Establish and maintain strong relationships with vendors and suppliers. 

• Evaluate vendor performance and conduct periodic reviews to ensure quality and reliability. 

• Address and resolve any disputes or issues with vendors in a timely manner. 

• Maintain a database of approved suppliers and preferred pricing agreements. 

Accounts Payable Processing: 

• Review and verify invoices for accuracy, completeness, and compliance with purchase orders and contracts. 

• Code and enter invoices into the accounting system, ensuring proper documentation and approval. 

• Prepare and process payment runs, including checks, ACH, and wire transfers. 

• Reconcile vendor statements and resolve discrepancies in a timely manner. 

Billing and Invoicing: 

Invoicing Clients: Generating and sending invoices to clients for products or services provided. 

Revenue Recognition: Ensuring that revenue is recorded accurately in accordance with accounting principles and company policies. 

Collections: Following up on outstanding invoices and managing the collections process to maintain cash flow. 

Financial Reporting and Analysis: 

• Assist in month-end and year-end closing processes by preparing AP-related journal entries and reconciliations. 

• Generate and analyze reports on procurement activities, spending patterns, and accounts payable metrics. 

• Provide insights and recommendations to improve procurement efficiency and cost-effectiveness. 

Compliance and Documentation: 

• Ensure all procurement and accounts payable activities comply with internal policies and external regulations. 

• Maintain accurate and organized records of purchase orders, invoices, payments, and vendor communications. 

• Support audits by providing necessary documentation and explanations for procurement and AP transactions. 

Process Improvement: 

• Identify opportunities to streamline procurement and AP processes, reducing costs and improving efficiency. 

• Implement best practices and innovative solutions to enhance procurement and accounts payable operations. 

• Collaborate with cross-functional teams to support continuous improvement initiatives. 

Required Skills and Qualifications: 

• Education: Bachelor’s degree in finance, accounting, business administration, supply chain management, or a related field. 

• Experience: Proven experience in procurement, accounts payable, or a similar role. 

• Technical Skills: Proficiency with procurement software and accounting systems (e.g., ERP systems). Advanced knowledge of Microsoft Excel and other data analysis tools. 

• Communication: Excellent written and verbal communication skills. 

• Organizational Skills: Strong organizational and time management skills, with the ability to manage multiple tasks and deadlines. 

• Analytical Skills: Strong analytical and problem-solving abilities, with attention to detail. 

• Interpersonal Skills: Ability to build and maintain positive relationships with vendors and internal stakeholders. 

• Ethics: High level of integrity and professionalism, with a commitment to ethical procurement practices. 

Ideal Candidate: 

The ideal candidate for this role is a proactive and detail-oriented individual with strong organizational and analytical skills. They should have a solid understanding of procurement processes and accounts payable functions, with the ability to manage vendor relationships effectively. A commitment to continuous improvement and a thorough understanding of financial and operational processes are essential for success in this role.