Bel
Sr Accounts Receivable and Deductions Specialist
Bel, Chicago, Illinois, United States, 60290
Sr Accounts Receivable and Deductions Specialist
Country: United States
City: Chicago
Job Family: Finance
Contract Type: Unlimited-term
Job ID: 52765
Bel Brands is a growing global company that values your contributions and offers career growth opportunities. For All, For Good, our company signature reflects Bel’s commitment to purpose and full snacking.
The Sr. Accounts Receivable & Deduction Specialist manages the full accounting life cycle for a specific portfolio of customers, oversees daily AR operations, and ensures timely reconciliation of deductions.
Essential Duties and Responsibilities
Cash application: Manages daily cash receipts, retrieves lockbox deposits and ACH/EFT reports; creates electronic files and performs cash application.
AR Balances: Collaborates with the Treasury group to reconcile the general ledger and bank accounts.
Deductions: Researches and clears deductions, assesses open Debit Memo’s ensuring consistent, timely & accurate reporting.
Websites: Monitors customer-based websites to obtain deduction and payment documentation.
EDI: Utilizes EDI platform to retrieve remittance details and solve invoicing issues.
Brokers: Prepares and processes broker check requests, maintains files and prevents deductions by processing check requests timely.
Escalations: Follows guidelines for proper escalation of unresolved items.
Credibility: Establishes relationships cross-functionally and with Customers/Brokers to maintain focus on achieving goals and meeting KPI targets.
DEALS: Provides internal support cross-functionally regarding deals that can be closed or remain open due to unresolved deduction balances. Utilizes trade management tool.
Collections: Monitors customer accounts, identifies past-due payments, follows up via phone/email, manages collection efforts and records activities.
Dispute Resolution: Investigates and resolves customer inquiries, deductions, billing disputes and/or past due invoices.
Communication: Value added collaboration cross-functionally to inform others of specific issues or trends.
Credit Reviews: Verifies the creditworthiness of customers, setting credit limits and monitoring accounts.
Accounting Support: Prepares audit files and month-end/fiscal year analyses.
Other duties: All other duties & special projects as assigned by direct manager or senior management.
Qualifications and Competencies
High School Diploma or equivalent required; some accounting college coursework is preferred.
10+ years of related AR experience required.
5+ years related experience in a deduction/collection role, analyzing and reconciling items such as Trade/Billbacks, Shortages, Logistic Penalties, Spoils, and other AR deduction miscellaneous items.
Experience working with Trade Fund/Promotion Management tools preferred.
Highly proficient technology skills including ERP SAP ECC [or SAP HANA S4] systems and Microsoft Suite (Excel, Word, and PowerPoint).
Ability to work independently and as part of a team; strong organizational and time management skills.
Flexibility and adaptability: Readiness to adapt to different workflows, communication styles, and priorities as needed to effectively collaborate with various departments and external entities.
Demonstrates professionalism and excellent interpersonal and communication skills (written and verbal).
Exceptionally detailed and organized, with the ability to step back and analyze for anomalies.
Performance Attributes Business agility, adaptability, efficiency, accuracy, timeliness, competence, resourceful, thoroughness; ability to learn new concepts quickly; drive to take initiative and improve processes; organized record keeping; gain trust and respect of others; maintain confidentiality; effective communication and good working relationships.
Physical Demands The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Total Rewards
Base Salary: $73,000-$83,000 (Non-Exempt)
Bonus Opportunity: 7%
PTO and Medical, Dental and Vision Benefits from Day 1
401k Match
Bel Brands is an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran status, disability status or any other basis protected by applicable federal, state, or local laws. Bel Brands prohibits harassment of applicants or employees based on any of these protected categories. It is also Bel Brand’s policy to comply with all applicable federal, state and local laws respecting consideration of unemployment status in making hiring decisions.
Bel Brands is committed to recruiting, hiring and promoting people with disabilities and veterans. If you need an accommodation or assistance in using the website, please call 312-462-1500.
#J-18808-Ljbffr
Bel Brands is a growing global company that values your contributions and offers career growth opportunities. For All, For Good, our company signature reflects Bel’s commitment to purpose and full snacking.
The Sr. Accounts Receivable & Deduction Specialist manages the full accounting life cycle for a specific portfolio of customers, oversees daily AR operations, and ensures timely reconciliation of deductions.
Essential Duties and Responsibilities
Cash application: Manages daily cash receipts, retrieves lockbox deposits and ACH/EFT reports; creates electronic files and performs cash application.
AR Balances: Collaborates with the Treasury group to reconcile the general ledger and bank accounts.
Deductions: Researches and clears deductions, assesses open Debit Memo’s ensuring consistent, timely & accurate reporting.
Websites: Monitors customer-based websites to obtain deduction and payment documentation.
EDI: Utilizes EDI platform to retrieve remittance details and solve invoicing issues.
Brokers: Prepares and processes broker check requests, maintains files and prevents deductions by processing check requests timely.
Escalations: Follows guidelines for proper escalation of unresolved items.
Credibility: Establishes relationships cross-functionally and with Customers/Brokers to maintain focus on achieving goals and meeting KPI targets.
DEALS: Provides internal support cross-functionally regarding deals that can be closed or remain open due to unresolved deduction balances. Utilizes trade management tool.
Collections: Monitors customer accounts, identifies past-due payments, follows up via phone/email, manages collection efforts and records activities.
Dispute Resolution: Investigates and resolves customer inquiries, deductions, billing disputes and/or past due invoices.
Communication: Value added collaboration cross-functionally to inform others of specific issues or trends.
Credit Reviews: Verifies the creditworthiness of customers, setting credit limits and monitoring accounts.
Accounting Support: Prepares audit files and month-end/fiscal year analyses.
Other duties: All other duties & special projects as assigned by direct manager or senior management.
Qualifications and Competencies
High School Diploma or equivalent required; some accounting college coursework is preferred.
10+ years of related AR experience required.
5+ years related experience in a deduction/collection role, analyzing and reconciling items such as Trade/Billbacks, Shortages, Logistic Penalties, Spoils, and other AR deduction miscellaneous items.
Experience working with Trade Fund/Promotion Management tools preferred.
Highly proficient technology skills including ERP SAP ECC [or SAP HANA S4] systems and Microsoft Suite (Excel, Word, and PowerPoint).
Ability to work independently and as part of a team; strong organizational and time management skills.
Flexibility and adaptability: Readiness to adapt to different workflows, communication styles, and priorities as needed to effectively collaborate with various departments and external entities.
Demonstrates professionalism and excellent interpersonal and communication skills (written and verbal).
Exceptionally detailed and organized, with the ability to step back and analyze for anomalies.
Performance Attributes Business agility, adaptability, efficiency, accuracy, timeliness, competence, resourceful, thoroughness; ability to learn new concepts quickly; drive to take initiative and improve processes; organized record keeping; gain trust and respect of others; maintain confidentiality; effective communication and good working relationships.
Physical Demands The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Total Rewards
Base Salary: $73,000-$83,000 (Non-Exempt)
Bonus Opportunity: 7%
PTO and Medical, Dental and Vision Benefits from Day 1
401k Match
Bel Brands is an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran status, disability status or any other basis protected by applicable federal, state, or local laws. Bel Brands prohibits harassment of applicants or employees based on any of these protected categories. It is also Bel Brand’s policy to comply with all applicable federal, state and local laws respecting consideration of unemployment status in making hiring decisions.
Bel Brands is committed to recruiting, hiring and promoting people with disabilities and veterans. If you need an accommodation or assistance in using the website, please call 312-462-1500.
#J-18808-Ljbffr