Culligan International
Accounts Receivable and Collections Manager
Culligan International, Des Plaines, Illinois, United States, 60018
Job Description
Job Description
Description: This role oversees the process of billing, invoicing, and collecting payments from customers, ensuring timely receipt and accurate recording of all receivables. They will manage a team responsible for monitoring overdue accounts, resolving disputes, and minimizing bad debt while optimizing company cash flow. The role also involves developing policies, analyzing aging reports to drive action at the branch-level, and supporting the accurate accounting for receivables
Key Responsibilities
Accounts Receivable Management Oversee and manage the daily operations of the AR team, including invoicing, payment processing, and customer account reconciliations. Ensure timely and accurate cash application across multiple business units. Monitor AR aging reports, identify delinquent accounts, and take appropriate action to mitigate risk. Develop and maintain effective credit policies and credit management processes. Lead initiatives to reduce DSO (Days Sales Outstanding) and improve cash flow.
Collections Management Establish and implement collection strategies to ensure timely collection of outstanding accounts. Lead the collection efforts for high-value or at-risk accounts and work directly with customers to resolve payment issues. Negotiate payment arrangements and manage relationships with customers to minimize overdue accounts and bad debt. Coordinate with legal and third-party collection agencies when necessary.
Team Leadership Supervise, mentor, and train the AR & Collections team to improve efficiency, effectiveness, and professionalism. Set team goals and key performance indicators (KPIs) to track performance and ensure alignment with company objectives. Conduct regular performance reviews, provide constructive feedback, and create development plans for team members.
Process Improvement & Automation Identify and implement improvements in AR and collection processes, leveraging automation where possible to enhance efficiency. Collaborate with IT and finance teams to integrate AR processes with systems like IFS, Blackline, and Salesforce. Monitor and maintain compliance with accounting standards and regulations related to AR and collections. Continuously assess the effectiveness of collection processes and implement changes to minimize bad debt Reporting & Analysis Prepare and present AR reports, collection metrics, and cash flow forecasts to senior management. Analyze trends in payment behavior, delinquency, and bad debt to identify areas of concern and opportunities for improvement. Work closely with the finance team to ensure accurate month-end and year-end closing of AR accounts.
Cross-Department Collaboration Collaborate with sales, customer service, and operations teams to resolve customer disputes and improve the customer experience. Ensure communication between departments is clear and timely regarding customer accounts and payment status. Qualifications
: Required: Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. 5+ years of experience in accounts receivable and collections management, with a demonstrated track record of success. Strong knowledge of AR processes, collections strategies, credit management, and cash application procedures. Leadership experience with the ability to coach, mentor, and develop a team. Excellent communication and negotiation skills, with the ability to build relationships with internal and external stakeholders. Proficiency in accounting software and ERP systems, such as IFS or similar platforms. Advanced skills in Microsoft Excel for financial analysis and reporting.
Preferred: Experience in a multi-location or multi-entity organization. Familiarity with automation tools and technology to streamline AR and collection processes. Experience in implementing process improvements in AR and collections. Competencies: To perform the job successfully, an individual should demonstrate the following competencies in this position:
Resourcefulness Customer Focus Problem Solving Organization Integrity Analytical Thinking Detail Orientated Communication Leadership
Target Salary Range: $86,000 - 114,000 year. Exact pay will be based on factors including, but not limited to relevant education, qualifications, experience, level, geographic location, and business and organizational needs. Full-time positions are eligible for competitive benefits, including: paid time off, health, dental, vision, life, disability benefits and 401(k).
Job Description
Description: This role oversees the process of billing, invoicing, and collecting payments from customers, ensuring timely receipt and accurate recording of all receivables. They will manage a team responsible for monitoring overdue accounts, resolving disputes, and minimizing bad debt while optimizing company cash flow. The role also involves developing policies, analyzing aging reports to drive action at the branch-level, and supporting the accurate accounting for receivables
Key Responsibilities
Accounts Receivable Management Oversee and manage the daily operations of the AR team, including invoicing, payment processing, and customer account reconciliations. Ensure timely and accurate cash application across multiple business units. Monitor AR aging reports, identify delinquent accounts, and take appropriate action to mitigate risk. Develop and maintain effective credit policies and credit management processes. Lead initiatives to reduce DSO (Days Sales Outstanding) and improve cash flow.
Collections Management Establish and implement collection strategies to ensure timely collection of outstanding accounts. Lead the collection efforts for high-value or at-risk accounts and work directly with customers to resolve payment issues. Negotiate payment arrangements and manage relationships with customers to minimize overdue accounts and bad debt. Coordinate with legal and third-party collection agencies when necessary.
Team Leadership Supervise, mentor, and train the AR & Collections team to improve efficiency, effectiveness, and professionalism. Set team goals and key performance indicators (KPIs) to track performance and ensure alignment with company objectives. Conduct regular performance reviews, provide constructive feedback, and create development plans for team members.
Process Improvement & Automation Identify and implement improvements in AR and collection processes, leveraging automation where possible to enhance efficiency. Collaborate with IT and finance teams to integrate AR processes with systems like IFS, Blackline, and Salesforce. Monitor and maintain compliance with accounting standards and regulations related to AR and collections. Continuously assess the effectiveness of collection processes and implement changes to minimize bad debt Reporting & Analysis Prepare and present AR reports, collection metrics, and cash flow forecasts to senior management. Analyze trends in payment behavior, delinquency, and bad debt to identify areas of concern and opportunities for improvement. Work closely with the finance team to ensure accurate month-end and year-end closing of AR accounts.
Cross-Department Collaboration Collaborate with sales, customer service, and operations teams to resolve customer disputes and improve the customer experience. Ensure communication between departments is clear and timely regarding customer accounts and payment status. Qualifications
: Required: Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. 5+ years of experience in accounts receivable and collections management, with a demonstrated track record of success. Strong knowledge of AR processes, collections strategies, credit management, and cash application procedures. Leadership experience with the ability to coach, mentor, and develop a team. Excellent communication and negotiation skills, with the ability to build relationships with internal and external stakeholders. Proficiency in accounting software and ERP systems, such as IFS or similar platforms. Advanced skills in Microsoft Excel for financial analysis and reporting.
Preferred: Experience in a multi-location or multi-entity organization. Familiarity with automation tools and technology to streamline AR and collection processes. Experience in implementing process improvements in AR and collections. Competencies: To perform the job successfully, an individual should demonstrate the following competencies in this position:
Resourcefulness Customer Focus Problem Solving Organization Integrity Analytical Thinking Detail Orientated Communication Leadership
Target Salary Range: $86,000 - 114,000 year. Exact pay will be based on factors including, but not limited to relevant education, qualifications, experience, level, geographic location, and business and organizational needs. Full-time positions are eligible for competitive benefits, including: paid time off, health, dental, vision, life, disability benefits and 401(k).