Accounts Receivable Manager

Job description:

The Accounts Receivable Manager position is a pivotal role supporting the US Hearing Aid and Buying Group Business Units with over $500M in revenue and average accounts receivable of $100M. This role is integral as it oversees the credit evaluation of new and existing customers, customer collections, cash application and customer interaction while minimizing financial risk. This role directly leads a team of professionals, including five direct reports and indirectly manages a team of 6 additional employees.

Responsibilities:

• To ensure success as Manager, Accounts Receivable, the incumbent should have extensive experience with credit analysis and collections, proficiency with accounting software, high-level analytical skills, strong leadership and managerial skills, and customer experience mindset.
• Formalize and implement processes and procedures around evaluation and assignment of credit, cash application, bad debt calculation and review, and collections.
• Review roles and responsibilities of the Accounts Receivable department, identifying opportunities for improvement in processes, automation, and resource allocations which enhance controls, financial performance, transparency and data reliability.
• Manage the Accounts Receivable monthly closing process, including the calculation of reserves, account reconciliations, and A/R dashboard reporting.
• Coordinate and deliver Accounts Receivable requirements in connection with the Companys annual financial statement audit.
• Establish internal goals, KPIs and/or metrics to monitor performance and manage financial risk. Provide senior management with consistent reporting and establish meetings with key managers to further discuss results.
• Responsible for the application of the Companys Credit, Bad Debt and Cash application policies.
• Recruit, hire, train, motivate and evaluate staff members within the Accounts Receivable department.

Credit Management:

• Evaluate credit risks for new and existing accounts.
• Approve or reject credit requests based on credibility and potential revenues and losses.
• Lead the review and management of US customer loan program as it relates to credit reviews, credit history and A/R management.
• Provide leadership to ensure employees demonstrate appropriate demeanor, technical accuracy, efficiency, and conformity to Company policies.
• Create and implement strategies to increase successful collections on outstanding receivables and drive down DSO. Interact with legal and agencies around accounts placed in collections.
• Communicate with customers to build and maintain a strong working relationship and ensure that Demant is easy to work with from an internal and external customer perspective.
• Review, recommend and implement credit policies and procedures that maintain the smooth running of the department, aligning with commercial to avoid commercial disruption, excessive credit limits, and minimize overall financial risk.
• Lead monthly calls with the businesses to review A/R aging, DSO, problem accounts, and working with the commercial team and customers to decrease overdue A/R.
• Oversee the application of cash, minimizing unapplied cash.
• Identify and lead action-oriented discussions on problem accounts with key Finance and Business Managers to implement and limit financial risk.

Collections Management:

• Evaluate the effectiveness of the Companys collection strategy and identifying opportunities to minimize bad debt write-offs and increase DSO.
• Evaluate the effectiveness of the Companys collection strategy and identifying opportunities to minimize bad debt write-offs and increase DSO.
• Identify and lead action-oriented discussions on problem accounts with key Finance and Business Managers to implement and limit financial risk.
• Oversee the application of cash, minimizing unapplied cash.
• Lead monthly calls with the businesses to review A/R aging, DSO, problem accounts, and working with the commercial team and customers to decrease overdue A/R.
• Review, recommend and implement credit policies and procedures that maintain the smooth running of the department, aligning with commercial to avoid commercial disruption, excessive credit limits, and minimize overall financial risk.
• Communicate with customers to build and maintain a strong working relationship and ensure that Demant is easy to work with from an internal and external customer perspective.
• Interact with legal and agencies around accounts placed in collections.
• Create and implement strategies to increase successful collections on outstanding receivables and drive down DSO.
• Taking on additional special projects and tasks as requested
  

Qualifications:

• Bachelors Degree in Accounting, Finance or Business Administration Required
• 10+ years of Accounts Receivable, Credit and Collections experience, with a track record of success in managing teams, developing credit policies, and improving collection processes

Why is This a Great Opportunity:

Leadership position with bonus potential.

Salary Type : Annual Salary

Salary Min : 95000

Salary Max : 105000

Currency Type : US Dollars