Accounts Payable Manager Jobs in Rochester, MN (NOW HIRING)

Strategic financial leadership for a growing, multi-entity senior-living organization

Department

Finance & Accounting

Classification

Executive / Exempt

Travel

As needed

Location

In-Person

Direct reports

Finance and accounting team

Company Overview: 

Cornerstone Management oversees multiple Assisted Living communities dedicated to providing compassionate, high-quality care for seniors. Our mission is to foster safe, engaging, and person-centered environments where residents can thrive while preserving their independence and dignity.

The Chief Financial Officer (CFO) is responsible for the overall financial strategy, performance, and integrity of the organization. This executive leads accounting, financial planning and analysis, treasury management, budgeting, forecasting, financial reporting, risk management, and internal controls.

The CFO serves as a strategic partner to the President/CEO and executive leadership team, providing timely insight to support operational decisions, acquisitions, financing initiatives, and long-term growth. The ideal candidate has experience overseeing a multi-entity, multi-location organization. Experience in senior living, healthcare, property management, or real estate investment is strongly preferred.

• Develop and execute financial strategies that support operational priorities and long-term growth objectives.
• Serve as a strategic financial advisor to the President/CEO, executive leadership team, owners, and investors.
• Evaluate organizational performance and recommend actions to improve profitability, cash flow, and financial sustainability.
• Provide financial modeling and analysis for investments, acquisitions, developments, refinancing opportunities, and other strategic initiatives.
• Communicate financial performance, risks, and opportunities clearly to financial and non-financial stakeholders.

• Oversee all accounting functions, including the general ledger, accounts payable, accounts receivable, payroll accounting, fixed assets, and financial close processes.
• Ensure monthly, quarterly, and annual financial statements are accurate, timely, and prepared in accordance with generally accepted accounting principles.
• Review financial results by community, property, department, and legal entity.
• Monitor revenue, operating expenses, labor costs, occupancy, accounts receivable, net operating income, and other key performance indicators.
• Coordinate annual audits, tax filings, cost reports, and other required financial reviews.

• Lead the annual budgeting process across all communities, departments, and entities.
• Prepare and maintain financial forecasts, cash-flow projections, and long-range financial plans.
• Analyze actual performance against budget and prior periods, identify material variances, and work with operational leaders on corrective action plans.
• Establish financial benchmarks and performance expectations for the organization.
• Develop dashboards and reporting tools that provide leadership with meaningful and actionable financial information.

• Oversee cash management, banking relationships, liquidity planning, and intercompany transactions.
• Monitor daily cash positions and ensure adequate funds are available to meet operational and debt-service obligations.
• Review and approve payments, transfers, distributions, and other financial transactions in accordance with authorization policies.
• Develop strategies to improve working capital and cash-flow performance.
• Maintain appropriate controls over bank accounts, electronic payments, and access permissions.

• Lead financial due diligence for acquisitions, dispositions, refinancings, and other transactions.
• Review historical financial statements, rent rolls, census information, payroll records, accounts receivable, contracts, and other due-diligence materials.
• Develop acquisition models, operating projections, valuation analyses, and sources-and-uses schedules.
• Coordinate with lenders, investors, brokers, attorneys, accountants, and other transaction partners.
• Support debt placement, refinancing, HUD financing, and lender reporting requirements.
• Monitor loan covenants, debt-service coverage, reserve requirements, and other financing obligations.
• Prepare financial updates and reporting packages for owners, investors, lenders, and governing bodies.

• Partner with operations leaders and community administrators to improve financial and operational performance.
• Assist leadership in evaluating staffing levels, labor utilization, agency usage, vendor costs, resident rates, service revenue, and payer mix.
• Develop financial education and accountability processes for community and departmental leaders.
• Identify opportunities for revenue enhancement, expense management, and process improvement.
• Support new-community transitions, system implementations, and the integration of acquired operations.

• Establish and maintain effective financial policies, procedures, and internal controls.
• Protect organizational assets and reduce the risk of error, fraud, or unauthorized transactions.
• Ensure compliance with applicable federal, state, lender, investor, and contractual requirements.
• Oversee insurance, financial risk management, and claims-related financial matters as assigned.
• Maintain appropriate separation of duties and approval processes across the organization.
• Monitor changes in accounting standards, tax requirements, reimbursement programs, and financial regulations that may affect the organization.

• Lead, develop, and evaluate the accounting and finance team.
• Establish clear responsibilities, performance expectations, and professional-development goals.
• Promote a culture of accuracy, accountability, collaboration, confidentiality, and continuous improvement.
• Evaluate departmental staffing, systems, and resources to ensure the finance function can support organizational growth.
• Provide guidance and financial training to leaders throughout the organization.

The CFO provides direct and indirect supervision to the accounting and finance department, which may include controllers, accountants, accounts-payable and accounts-receivable personnel, payroll staff, financial analysts, and other administrative team members.

• Bachelor's degree in accounting, finance, business administration, or a related field required.
• CPA, CMA, MBA, or another advanced professional credential strongly preferred.
• Minimum of 10 years of progressive financial leadership experience, including experience in a senior finance or executive role.
• Experience overseeing multiple legal entities, locations, or operating divisions.
• Senior living, healthcare, real estate, property management, or private-equity experience strongly preferred.
• Demonstrated experience with financial reporting, budgeting, forecasting, cash management, financing, and internal controls.
• Experience supporting acquisitions, financial due diligence, lender relationships, and transaction modeling preferred.
• Strong understanding of generally accepted accounting principles and financial reporting requirements.
• Proficiency with accounting systems, Microsoft Excel, financial modeling, and reporting software.
• Experience improving accounting processes and implementing financial systems preferred.

• Strong strategic, analytical, and problem-solving abilities.
• Ability to interpret complex financial information and communicate it in a clear, practical manner.
• Excellent leadership, organization, and project-management skills.
• High level of accuracy, integrity, discretion, and professional judgment.
• Ability to manage competing priorities and meet strict reporting deadlines.
• Strong interpersonal skills and the ability to work effectively with executives, operational leaders, investors, lenders, and external advisors.
• Ability to identify financial risks and develop practical solutions.
• Willingness to remain hands-on while providing strategic executive leadership.
• Ability to travel to operating locations and attend meetings as needed.

Success in this position will be measured by:

• Accuracy and timeliness of financial reporting.
• Quality of budgeting, forecasting, and financial analysis.
• Strength of cash flow and liquidity management.
• Compliance with lender, investor, tax, audit, and regulatory requirements.
• Effectiveness of internal controls and financial processes.
• Achievement of organizational profitability and growth objectives.
• Successful financial integration of acquisitions and new operations.
• Development and performance of the accounting and finance team.

This is an executive-level position that requires regular interaction with organizational leadership, community operations, lenders, investors, and external professional partners. Occasional travel and work outside normal business hours may be required to support transactions, reporting deadlines, and other business needs.

The organization is an equal-opportunity employer and considers applicants for employment without regard to race, color, religion, sex, pregnancy, national origin, age, disability, genetic information, veteran status, marital status, sexual orientation, gender identity, or any other status protected by applicable law.

What We Offer:

• Competitive salary commensurate with experience.

• Comprehensive benefits package (health, dental, vision, 401k with company match).

• Paid time off and recognized holidays.

• Ongoing professional development and training opportunities.

• Supportive work environment with a focus on resident-centered care.

Cornerstone Management is an equal opportunity employer that is committed to diversity and inclusion in the workplace. We prohibit discrimination and harassment of any kind based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic as outlined by federal, state, or local laws.