Our client in the manufacturing industry and located near Northbrook, IL, is looking for an Accounts Receivable / Collections Manager to join their team (Hybrid: 2-3 days in office).
Prior experience managing an AR / Collections team and experience cleaning up high volume of backlog / working with big box accounts required.
General Duties / Responsibilities:
- Manage the end-to-end accounts receivable process, including credit management, cash application and collections.
- Supervise, train, and mentor staff, ensuring high performance and professional development.
- Develop and execute collection strategies to reduce delinquency and improve Days Sales Outstanding (DSO).
- Review escalated customer issues, provide solutions and facilitate collections.
- Partner with Sales and Customer Service to resolve payment issues without jeopardizing customer relationships.
- Oversee accurate cash applications and reconcile unapplied cash.
- Perform financial and credit analysis regarding new customer applications, past due accounts, and high-risk customers. Determine the amount of credit to be extended.
- Review AR aging to ascertain status of collections and balances outstanding to evaluate effectiveness of current collection policies and procedures.
- Audit delinquent accounts considered to be uncollectible to ensure maximum efforts have been made before assigning bad-debt status.
- Support the month-end close process by preparing AR related reports and analysis, including reconciliation of general ledger accounts and preparation and booking of AR reserve adjustments (i.e. bad debt, short pay, discounts).
- Bachelor's degree in Finance, Accounting or related field.
- A minimum of 7 years of experience in credit and collections, with at least 3 years in a managerial role.
- Excellent analytical and problem-solving skills.
- Strong communication skills and the ability to present data and information clearly to leadership.
- Experience in leading a team including setting performance standards, providing ongoing feedback and training to achieve success.
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