Accounts Payable Specialist

The New Jersey Infrastructure Bank (I-Bank) is an independent State Financing Authority responsible for providing and administering low-interest rate loans to qualified municipalities, counties, regional authorities, and water purveyors in New Jersey to finance local transportation, resilience, and water quality-related infrastructure projects. The I-Bank issues over $550 million annually in loans through its various financing programs; one in partnership with the Department of Transportation (DOT), one in partnership with the Office of Emergency Management (OEM), and one in partnership with the Department of Environmental Protection (DEP).

The Accounts Payable Specialist is responsible for processing invoices, issuing payments to vendors, reconciling accounts, and providing payroll support. Additionally, the A/P Specialist will assist with the calculation and recording of fixed assets and monthly depreciation expenses, procurement activities, and provide support to the Comptroller with budgeting activities as needed. This role requires a strong understanding of accounting principles, excellent communication skills, and the ability to work collaboratively with various departments.

Essential Duties and Responsibilities:

• Process vendor invoices, ensuring accurate coding, approvals, and thorough documentation
• Reconcile vendor statements, addressing discrepancies promptly
• Prepare and issue payments to vendors via check, ACH, or wire transfer
• Assist with the preparation and filing of Form 1099s for independent contractors and other tax reporting
• Maintain updated A/P records and create compliance reports as needed
• Facilitate communication between departments to ensure proper coding and allocation of expenses
• Assist in month-end and year-end closing processes, including accruals, reconciliations, and financial reporting
• Support payroll functions, including transfers, account reconciliation, and payroll tax filings
• Utilize accounting knowledge and experience with Dynamics accounting software to streamline process efficiency
• Assist with procurement activities by distributing RFPs, collecting scoring data, and ensuring compliance with procurement policies and procedures
• Support the Comptroller with budgeting activities, including gathering preliminary financial data, preparing budget reports, and assisting with budget analysis

REQUIREMENTS

Knowledge, Skills, and Abilities:

• Knowledge of basic accounting principles, including A/P, general ledger coding, and reconciliation
• Proficiency in Microsoft 365 products (Excel, Word, Outlook, PowerPoint, Teams, Access)
• Strong attention to detail, accuracy, and the ability to handle confidential information
• Excellent organizational and time management skills, adept at prioritizing tasks to meet deadlines in a fast-paced environment
• Strong communication and interpersonal skills for effective teamwork and professional interaction with vendors and colleagues
• Experience with Dynamics accounting software is a plus
• Familiarity with payroll processing and tax reporting requirements is a plus

Education: Graduation from an accredited college or university with a Bachelor's degree in Accounting, Finance, or related field preferred. NOTE: Applicants who do not possess the required education may substitute additional experience on a year-for-year basis.

Experience: Two (2) years of experience in A/P or related finance roles.

License: The appointee will be required to possess a driver's license valid in New Jersey only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.

BENEFITS

The I-Bank provides a comprehensive benefit package which includes:

• Medical, prescription, dental, and vision insurance
• Public Employees' Retirement System (PERS)
• Deferred compensation plans
• Life Insurance
• Flexible Spending Account (Health and Dependent Care)
• Paid personal, sick, and vacation days
• 13 Paid holidays
• 1-day telework
• State employee discount program
• Public Service Loan Forgiveness Eligibility

Residency in the State of New Jersey is required of all employees with an agency of the State in accordance with the New Jersey First Act, N.J.S.A. 52:14-7 (L. 2011, Chapter 70). Employees must comply with the “New Jersey First Act” which requires employees hired after September 1, 2011, to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their hire date. For more information, please visit: https://nj.gov/labor/lwdhome/njfirst/NJFirst.html

Interested applicants should apply at www.njib.gov/careers

NEW JERSEY INFRASTRUCTURE BANK IS AN EQUAL OPPORTUNITY EMPLOYER