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Financial Operations Manager

Company: Lube-Tech
Location: Lakeville
Posted on: May 25, 2023

Job Description:

With a purpose to make tomorrow a little bit better than today for each other, our customers, and our communities, Lube-Tech provides an environment where you can love what you do and be your best every day.
What you will enjoy by being a part of a 2023 USA Great Place to Work certified company:
A position that is: Salary, Full time, Mon-Fri
Top-tier benefits starting DAY ONE including:
--- Medical, dental, and vision
--- FSA/HSA options
--- Paid parental leave, voluntary accident, critical illness, hospital, supplemental life insurance, and employer-paid short-term and long-term disability and life insurance
--- 401(k) with a company match
--- 100% Mental Health Coverage Option
--- Pet Insurance Benefits
--- Fertility Coverage
--- Tuition reimbursement
--- 15 Paid Days Off
--- 10 Paid Holidays

Exclusive role benefits:
--- Manager Performance Plan Bonus, ask your Talent Partner for details
--- Dress For Your Day (casual dress environment)
--- Work Your Way (hybrid work environment)
--- A company phone provided for use
--- Company computer provided for use

HOW YOU WILL CONTRIBUTE TO OUR TEAM (Overview & Key Responsibilities):
The Financial Operations Manager is responsible for setting the vision for Lube-Tech's accounts receivable, accounts payable, and billing teams. - In this position you will play a crucial role in cash management and customer relationships for the entire organization. - You will be responsible for proactively identifying methods to improve the timeliness and effectiveness of collecting accounts receivable and appropriately disbursing accounts payable. - You will work closely with accounting, FP&A, treasury, and the broader organization to develop strategies that will drive maximum customer engagement and vendor satisfaction. - You will provide updates to executives and leadership regarding risk areas and mitigations, collection efforts, and the overall effectiveness of the accounts receivable, accounts payable, and billing teams.

  • Accounts Receivable and Billing

    • Maximize Lube-Tech's profit and cash flow by managing our investment in accounts receivable
    • Develop and implement the strategic plan for the accounts receivable and billing department
    • Drive improvements in collection rates and reduce days sales outstanding
    • Work with customers to understand billing needs and requirements
    • Analyze bad debt and develop strategies to mitigate front-end customer collection risks

    • Accounts Payable

      • Maximize Lube-Tech's profit and cash flow by evaluation of our payment strategy
      • Develop and implement the strategic plan for the accounts payable department
      • Review vendor and service provider agreements and maximize payment terms
      • Evaluate new suppliers and assist in negotiation of vendor payment terms
      • Manage relationships with vendors regarding billing and payments
      • Understand risks and opportunities regarding rebate programs with major vendors
      • Create analysis and reporting for management to understand cash flows regarding payments
      • Oversee and review employee expenses and spend

      • Create reporting that drives insights into the AP and AR process
      • Identify KPI and the drivers of those metrics, performing root cause analysis on issues
      • Work directly with the Corporate Controller on process improvements and internal controls
      • Support strategic business initiatives, including acquisitions and data management
      • Responsible for attracting and developing talent in the AP and AR teams, providing leadership and training

        WHAT YOU NEED TO SUCCEED (Minimum Qualifications):
        Education: Two-year or four-year degree in a business-related field.

        • Energetic and motivated individual willing to understand current processes and take them to the next level
        • Experience leading financial operations; demonstrated effective leadership skills
        • Demonstrated excellence in billing process management and driving collection rate improvements
        • Demonstrated excellence in vendor payment management
        • -7-10 years of experience in AP and AR
        • -Understanding of large ERP systems (JD Edwards, SAP, Oracle)
        • Experience with reporting and data analysis software (Microsoft PowerBI or equivalents)

          Lube-Tech is an Equal Employment Opportunity/Affirmative Action Employer. Qualified applicants including women, minorities, veterans, and individuals with disabilities are encouraged to apply.Equal Opportunity Employer/Protected Veterans/Individuals with DisabilitiesThe contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

Keywords: Lube-Tech, Lakeville , Financial Operations Manager, Accounting, Auditing , Lakeville, Minnesota

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