Wiggin and Dana LLP
Senior Accounts Receivable and Collections Specialist
Wiggin and Dana LLP, New Haven, Connecticut, us, 06540
Senior Accounts Receivable and Collections Specialist
Summary The Senior Accounts Receivable and Collections Specialist will oversee the full-cycle accounts receivable process, manage complex customer accounts, lead collection strategies, and ensure timely and accurate receipt of payments. This position will also play a critical role in optimizing cash flow and maintaining positive client relationships. This position works closely with attorneys and administrative assistants to research and appropriately record payments, identify overdue accounts, and respond to requests for information. Ensure timely and accurate posting of cash receipts and communicate with clients regarding past due accounts. Responsibilities
Manage end-to-end accounts receivable process, including payment application, account reconciliation, and collections. Proactively monitor aging reports and follow up with attorneys and clients to ensure timely collections of outstanding balances. Serve as the primary point of contact for escalated or complex collection issues. Review and suggest refinements to internal AR and collection policies to increase efficiency and reduce aging balance. Process write-offs, collect short payments and refund duplicate payments through Accounts Payable Reverse and reallocate payments by billing department or billing attorney request. Maintain unallocated and retainer accounts and reconcile balances to the billing system. Prepare and send monthly AR aging reports to attorneys and assist with production of collection statements when required. Update Board/Aderant with account notes and holds based on feedback from attorneys, clients and billing department. Handle attorney, support staff and client inquiries regarding payments and other matters. Analyze and document specific client billing agreements and alternative fee arrangements. Adhere to and ensure compliance with firm receivable write off policies. Communicate clearly with internal and external clients, written and verbally, on collections issues. Complete ad hoc and special project requests as needed. Support the month end close process by performing various month end procedures. Serve as backup for entering daily cash receipts in billing system including downloading ACH/wires, remittance notices and credit card payments. Requirements
Education:
Bachelor’s Degree or an equivalent combination of education and relevant experience. Experience:
3-5 years of experience in a high-volume customer service or accounts receivable role. Knowledge/Skills and Abilities: Experience with Accounts Receivable and Collections software; Prior experience with Aderant is a plus A solid understanding of basic accounting principles and their application in daily work tasks. Excellent written and verbal communication, interpersonal, and customer service skills. Analytical, numerically astute with strong demonstrated problem-solving abilities. Ability to work well under pressure and handle emergency situations. Ability to prioritize, multitask and organize workflow with a willingness to take the initiative to use these abilities to work collaboratively in meeting deadlines with a sense of urgency. Ability to meet strict deadlines and attend to multiple tasks at one time. Keen attention to detail and accuracy. Strong computer skills, including knowledge of accounting software programs, and e-billing platforms. Proficiency with Microsoft Office with emphasis on Excel skills required. Strong organizational skills and attention to detail. Maturity, professionalism, and high level of discretion are required. Ability to be in the office daily, working a full day. Ability to sit for extended period. Ability to keyboard for extended period. Ability to deal with stress due to high volume of requests.
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Summary The Senior Accounts Receivable and Collections Specialist will oversee the full-cycle accounts receivable process, manage complex customer accounts, lead collection strategies, and ensure timely and accurate receipt of payments. This position will also play a critical role in optimizing cash flow and maintaining positive client relationships. This position works closely with attorneys and administrative assistants to research and appropriately record payments, identify overdue accounts, and respond to requests for information. Ensure timely and accurate posting of cash receipts and communicate with clients regarding past due accounts. Responsibilities
Manage end-to-end accounts receivable process, including payment application, account reconciliation, and collections. Proactively monitor aging reports and follow up with attorneys and clients to ensure timely collections of outstanding balances. Serve as the primary point of contact for escalated or complex collection issues. Review and suggest refinements to internal AR and collection policies to increase efficiency and reduce aging balance. Process write-offs, collect short payments and refund duplicate payments through Accounts Payable Reverse and reallocate payments by billing department or billing attorney request. Maintain unallocated and retainer accounts and reconcile balances to the billing system. Prepare and send monthly AR aging reports to attorneys and assist with production of collection statements when required. Update Board/Aderant with account notes and holds based on feedback from attorneys, clients and billing department. Handle attorney, support staff and client inquiries regarding payments and other matters. Analyze and document specific client billing agreements and alternative fee arrangements. Adhere to and ensure compliance with firm receivable write off policies. Communicate clearly with internal and external clients, written and verbally, on collections issues. Complete ad hoc and special project requests as needed. Support the month end close process by performing various month end procedures. Serve as backup for entering daily cash receipts in billing system including downloading ACH/wires, remittance notices and credit card payments. Requirements
Education:
Bachelor’s Degree or an equivalent combination of education and relevant experience. Experience:
3-5 years of experience in a high-volume customer service or accounts receivable role. Knowledge/Skills and Abilities: Experience with Accounts Receivable and Collections software; Prior experience with Aderant is a plus A solid understanding of basic accounting principles and their application in daily work tasks. Excellent written and verbal communication, interpersonal, and customer service skills. Analytical, numerically astute with strong demonstrated problem-solving abilities. Ability to work well under pressure and handle emergency situations. Ability to prioritize, multitask and organize workflow with a willingness to take the initiative to use these abilities to work collaboratively in meeting deadlines with a sense of urgency. Ability to meet strict deadlines and attend to multiple tasks at one time. Keen attention to detail and accuracy. Strong computer skills, including knowledge of accounting software programs, and e-billing platforms. Proficiency with Microsoft Office with emphasis on Excel skills required. Strong organizational skills and attention to detail. Maturity, professionalism, and high level of discretion are required. Ability to be in the office daily, working a full day. Ability to sit for extended period. Ability to keyboard for extended period. Ability to deal with stress due to high volume of requests.
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