Manager of Accounts Receivable

Essential Job Summary:

The Manager of Accounts Receivable is responsible for overseeing the collection efforts on behalf of the organization, ensuring that outstanding accounts receivable are collected in a timely manner. This role involves managing the collections team, analyzing delinquent accounts, developing payment plans, and maintaining strong relationships with customers to ensure the smooth operation of the collections department.

Team Management:

• Lead, coach, and supervise the collections team, including assigning workloads and managing performance.
• Provide training and professional development opportunities to enhance the effectiveness of the team.

Collections Strategy:

• Develop and implement effective collections strategies to ensure timely payments and reduce delinquent accounts.
• Monitor key performance indicators (KPIs) such as Days Sales Outstanding (DSO), activity metrics and collections effectiveness.
• Set objectives for the accounts receivable team to meet financial targets.

Account Monitoring and Analysis:

• Analyze aged accounts and identify high-risk accounts for further collection actions.
• Work with the finance department to create reports on outstanding debts and the effectiveness of collection processes.
• Use data and analytics to forecast collections and adjust strategies accordingly.

Customer Relations:

• Build and maintain relationships with customers to facilitate smooth and efficient collections.
• Address and resolve escalated customer disputes regarding outstanding balances.
• Negotiate payment arrangements and settlements within authorized limits.

Compliance and Risk Management:

• Ensure compliance with federal and state regulations governing collections practices.
• Review and improve collections policies to mitigate risk and ensure best practices are followed.
• Collaborate with legal counsel to handle complex cases and initiate legal action when necessary.

Reporting and Documentation:

• Maintain accurate records of collection activities, correspondence, and outcomes.
• Prepare and present regular reports to senior management regarding the status of collections, aging accounts, and recommendations for improvement.

Cross-Departmental Collaboration:

• Work closely with the sales, customer service, and finance teams to resolve billing issues and disputes.
• Assist in process improvements related to accounts receivable and credit policies.

• Bachelor's degree in finance, accounting, business administration, or a related field.
• Minimum of 5 years of experience in collections or accounts receivable management.
• Previous leadership experience with a collections team is highly desirable.
• Strong knowledge of collections laws and regulations (e.g., Fair Debt Collection Practices Act).
• Excellent analytical, problem-solving, and negotiation skills.
• Proficiency in collections management software and financial reporting tools.
• Strong communication and interpersonal skills, with the ability to handle difficult conversations tactfully.
• Ability to work under pressure and meet deadlines in a fast-paced environment.

This job description is intended to be an accurate representation of the general functions of the job, rather than exhaustive list of duties, responsibilities, or experience. Other duties may be assigned, requested, or required. Aspects of the job may be altered without notice.