Manager, Collections
Position Summary:
The Manager, Collections is responsible for effectively managing Accounts Receivable across the enterprise such that the amount of unpaid debt the company carries is always minimized, while also overseeing the daily operations of the collections department.
Additional responsibilities include the development and implementation of department policies and procedures that drive the actions of the collections team.
This position requires communication with sales and operations, as well as clients directly, as needed to set up new accounts, collect on outstanding accounts, and work on payment plans.
The Manager, Collections must be analytical and have strong reporting skills, including the analysis of financial reporting and outcome-based metrics. They must have extensive knowledge of collection laws and continuously find ways to improve the company’s debt recovery.
Primary Accountabilities:
Operational (40%)
* Manage day-to-day activities of the team to ensure execution of planned strategies to address delinquent accounts, including the establishment of resolution deadlines.
* Proactively monitor client receivables and set weekly targets for the team to prioritize their collection efforts to drive DSO improvement.
* Work directly with clients to understand payment delays and work with customer service teams and clients to remove barriers to payment.
* Develop an understanding of customer’s internal payment approval processes; establish and enforce negotiated payment terms for delinquent accounts.
* Lead internal cross functional meetings with management leaders to escalate and assign accountability to address serious credit and collections problems.
* Maintain, track, and report credit and collections scoreboard statistics and metrics.
* Update internal systems as necessary with contact details, conversations and issues affecting payments.
* Remain informed of any legislative changes and/or training requirements needed regarding debt collections.
Analytical (35%)
* Compile results of collection activities based on outcomes against targeted accounts or lines of business.
* Create and maintain trending of key financial metrics required to help evaluate and drive decisions in actions taken by the credit and collections team.
* Reduce recurring collections issues by performing root cause analyses to identify and implement cross functional process improvements.
* Establish factoring policies and procedures that include research and analyses in order to make recommendations to management.
* Identify potential automation opportunities and other process improvements to positively impact cash flow.
* Work closely with other financial leaders to represent the collections team in the development or implementation of new financial and/or operating systems.
* Serve as lead business representative in creating software enhancement recomme...
- Rate: Not Specified
- Location: Winston Salem, US-NC
- Type: Permanent
- Industry: Accountancy
- Recruiter: Inmar, Inc.
- Contact: Not Specified
- Email: to view click here
- Reference: JY2424023
- Posted: 2024-04-08 07:54:19 -
- View all Jobs from Inmar, Inc.
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