Senior Manager of Accounts Payable, Rent the Runway
$98.8-123.5k
More information about location
4-5 days a week in office (Brooklyn, NY )
Women's clothing subscription service
Be an early applicant
Women's clothing subscription service
501-1000 employees
Be an early applicant
$98.8-123.5k
More information about location
4-5 days a week in office (Brooklyn, NY )
501-1000 employees
Company mission
Rent the Runway's mission is to power women to feel their best every day.
Role
Who you are
- You have a Bachelor’s degree in relevant field preferred or equivalent experience
- You have 8+ years of progressive experience in Accounts Payable or expense management, with at least 4 years in a managerial role
- You have exceptional communication and problem-solving skills, comfortable working with stakeholders at all levels
- You have strong Excel skills, with the ability to analyze and manipulate large data sets
- You are a highly organized, detail-oriented self-starter, capable of working independently and in a team
- You have the ability to manage multiple tasks simultaneously and follow through effectively
- You have a strong work ethic and a positive, can-do attitude
- Experience with a major ERP system preferred
What the job involves
- As the Senior Manager, Accounts Payable, you will play a crucial role in the daily operations of our Accounts Payable team, reporting directly to the Senior Director of Accounting
- You’ll have an exciting opportunity to oversee our inventory and non-inventory Accounts Payable teams, as well as provide support during month end close for a fast-paced, extremely successful and high energy company
- Oversee day-to-day Accounts Payable operations, including vendor onboarding, managing a team of accounts payable leads and administrators
- Manage full cycle invoice processing, including purchase order matching, vendor payments, and expense reimbursement
- Review of weekly payment batches ensuring that invoices are being paid timely and in accordance with payment terms and internal policies
- Review coding of invoices and capital expenditures as needed
- Prioritize daily tasks and address urgent issues offering quick and effective solutions
- Maintain up-to-date documentation of AP processes and procedures
- Streamline workflows to enhance processing efficiency to create a best-in-class Accounts Payable function
- Develop goals and metrics for the Accounts Payable department, monitoring and communicating progress to key stakeholders
- Manage vendor relationships, supporting the Accounts Payable leads with assistance on communication around payment or discrepancy issues as needed.
- Build effective relationships across the company with various departments (Accounting, Operations, Fashion, Marketing, Legal) and act as a business partner on Accounts Payable and expense matters and inquiries
- Responsible for month-end close journal entries and reconciliations for Accounts Payable related areas, working closely with the Accounting team
- Maintain weekly and monthly schedules performing reconciliations of related balance sheet accounts
- Support the annual 1099 process, ensuring accurate reporting and compliance for all applicable vendors
- Provide audit support and participate in walkthroughs for external and internal audits
- Monitor internal controls related to the Accounts Payable function
- Participate in special projects, including new system integrations, as required
Our take
Rent the Runway seeks to profit from two important trends in apparel consumption: wanting to stay on top of the latest fashion trends while living and purchasing sustainably. By providing a platform for women to rent designer pieces, its users can have it all.
The company allows users to rent, subscribe, or buy designer apparel and accessories. It achieves this with its network of partnerships with hundreds of top designers and managing the crucial but complicated logistics in-house. It offers its partnered brands sophisticated analytics about potential customers in return for lower prices on designer garments.
Rent the Runway is now focused on diversifying revenue streams while reducing its costs. Its recent partnership with Amazon is an example of this new direction: while it will use this chanel sell to clothes previously rented through its platform, it will for the first time be selling new clothes based off of rental items modified in line with market data.
While moves such as this may well shift Rent the Runway towards profitability, it also risks undercutting the company's central message of sustainability and supporting the circular economy. The company believes that by creating better quality clothing it will nonetheless be aiding in the fight against fast fashion. Time will tell if this move helps or hinders the sustainability movement, but it is likely to boost Rent the Runway's bottom line regardless.
Freddie
Company Specialist at Welcome to the Jungle
Insights
-6% employee growth in 12 months
Company
Funding (last 2 of 9 rounds)
Apr 2020
$80m
SERIES G
Mar 2019
$125m
SERIES F
Total funding: $401.2m
Company benefits
- Generous Paid Time Off including annual leave, paid bereavement, and family sick leave - every employee needs time to take care of themselves and their family.
- Universal Paid Parental Leave for both parents + flexible return to work program - because we know your newest family member(s) deserve your undivided attention.
- Paid Sabbatical after 5 years of continuous service
- Exclusive employee subscription and rental discounts
- 401k match
- Work from home opportunities
- Comprehensive health, dental care and dependents care from day 1 of employment - Your health comes first and we’ve got you covered.
- Competitive Stakeholder Pension - taking care of your future
- Company wide events and outings - our team spirit is no joke - we know how to have fun!
- Hybrid Work - our corporate employees have the option to work remotely 3 days a week, in accordance with Company policies
Company HQ
Hudson Square, New York, NY
Leadership
Jennifer Hyman
(CEO)Prior to Rent the Runway, was director of business development at IMG where she focused on the creation of new media businesses for IMG's fashion division.
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