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Institute of Finance and Management Announces AP Managers of the Year

Distinguished individuals to be honored at upcoming Accounts Payable and Procure-to-Pay Conference and Expo

Institute of Finance and Management Announces AP Managers of the Year


The Institute of Finance and Management (IOFM) has announced the winners of its 2015 Accounts Payable Manager of the Year Awards. Presented to one AP manager from an organization with less than $1 billion in annual revenue and another from an organization with over $1 billion, the annual awards recognize AP professionals who have demonstrated bar-raising levels of leadership. This year’s honorees are Sebastian E. Bodden, APM, of Caribbean Utilities Company, Ltd. and Rock Persaud, APM, of Take-Two Interactive Software.

Bodden and Persaud will be recognized alongside the honorees for AP Department of the Year during the morning of October 27th at Caesar’s Palace in Las Vegas. The ceremony kicks off the final day of the Accounts Payable & Procure-to-Pay Conference & Expo, where over 550 AP, P2P and Shared Service professionals are expected in attendance.

Bodden, the AP Manager of the Year for organizations with less than $1 billion in annual revenue, is the Revenue & Payables Accountant (Finance Supervisor) at Caribbean Utilities Company, Ltd., the sole provider of electric power to Grand Cayman Island. Coworkers describe Bodden as “naturally meticulous,” someone who pays attention to all the details of his department and doesn’t let anything slip under the radar. Under his leadership, the AP department at Caribbean Utility Company has implemented several layers of automation, a travel advance tracking system and new payment processes for startup subsidiaries, among other efficiencies. Bodden also created an employee rewards program at zero cost to the company.

“I’m completely elated and humbled to be selected as one of IOFM’s 2015 AP Managers of the Year; to me the recognition solidifies my hard work in Accounts Payable and pushes me to strive for even greater success and innovation,” said Bodden. “My team and organization have been a huge support to me in my efforts to raise the bar as their first Accredited Payables Manager and I eagerly embrace all possibilities that the future holds.”

Persaud, the honoree for organizations with over $1 billion in annual revenue, heads up the AP Department at Take-Two Interactive Software, an American multinational publisher, developer, and distributor of video games and video game peripherals. In 2015, Persaud led a transition from a completely manual accounts payable process to an automated system in a matter of just three months, cutting costs by over a million dollars. Persaud has also led the Take-Two AP department through an update of their JDE systems, creation of step-by-step documentation of all accounts payable, and actions to remediate any exposure due to past years of non-compliance.

“When I received the news that I won the award for AP Manager of the year, time stood still for that moment,” said Persaud. “My brain took a trip back in time to follow the journey that brought me to this moment, and it was very clear that there were many great people who helped me along the way. For that, I thank them, and I thank IOFM for this honor.”

AP managers were nominated by their peers online, and this year was the most competitive yet with over 100 nominations submitted in each category. “A shared characteristic we saw among the top candidates for this award,” said Brian Cuthbert, Executive Director of IOFM, “was the ability to inspire a team. It’s one thing for a manager to have a vision for his department, but quite another to motivate a group to share that vision and the passion behind it. Sebastian Bodden and Rock Persaud both possess that valuable leadership quality.”

In addition to the awards, the agenda for October’s conference includes over 60 learning sessions, numerous networking opportunities, on-site AP Certification classes and more.

The Institute of Finance and Management (IOFM) is the leading organization providing training, education and certification programs specifically for professionals in Accounts Payable, Procure-to-Pay, Accounts Receivable and Order-to-Cash, as well as key tax and compliance resources for Global and Shared Services professionals, Controllers and their F&A teams.

IOFM has certified nearly 20,000 financial operations professionals worldwide through its four certification programs. These programs include Accredited Payables Specialist or Manager (U.S. and Canadian specific versions available), Accredited Receivables Specialist or Manager and Certified Professional Controller. The globally recognized AP & AR certifications are available in English, Simple Chinese and Spanish.

IOFM’s membership networks, the AP & P2P Network ( and AR & O2C Network (, feature industry research and best practices, metrics and benchmarking data, policies, case studies, tools, templates, and critical compliance and corporate governance resources. The Institute also produces on-demand e-learning resources including video trainings and web-based seminars.

IOFM hosts industry-leading conferences designed to facilitate continuing education and peer networking. These events include the Accounts Payable and Procure-to-Pay Conference and Expo (Spring and Fall), and the Accounts Receivable & Order-to-Cash Conference.

With a universe of over 100,000 financial operations professionals, growing certification and membership programs, and a keen understanding of the issues and content needs critical to the profession, IOFM is the trusted source of information in the rapidly evolving field of financial operations.

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