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Receivables Operations Supervisor
2 months ago
Position Summary
The Receivables Operations Supervisor is responsible for overseeing a team dedicated to the management and execution of the receivables and collections processes. This role is essential in ensuring a robust receivables portfolio, enhancing cash flow, reducing bad debts, and supporting the financial objectives of the organization. The supervisor will act as a key point of contact for various departments and management regarding client billing inquiries related to overdue accounts.
Key Responsibilities:
- Team Management
- Establishes a departmental structure that aligns with organizational goals.
- Motivates and develops the accounts receivable team through continuous training.
- Implements performance metrics to assess departmental efficiency.
- Maintains relationships with collection and credit reporting agencies.
- Collaborates with the sales team to ensure seamless operations.
- Oversees banking relationships to optimize financial transactions.
- Accounts Receivable Oversight
- Ensures timely collection of receivables.
- Processes customer payments and applies credit memos accurately.
- Manages customer invoicing through online platforms.
- Engages with clients regarding overdue payments and issues credit holds when necessary.
- Records cash receipts and manages bank deposits.
- Monitors and updates the corporate credit policy.
- Maintains comprehensive customer credit files and updates master records.
- Submits accounts deemed uncollectible to collections.
- Recommends write-offs for bad debts.
- Conducts thorough investigations of significant customer credit applications.
- Maintains accurate records of customer payment statuses.
- Visits key customers to foster relationships.
- Conducts periodic credit reviews and monitors customer deductions.
- Administers late fee applications as needed.
- Performs monthly reconciliations of accounts receivable to the general ledger.
- Cash Management
- Monitors daily cash activities and tracks non-customer cash receipts.
- Conducts monthly reconciliations of bank accounts.
- Manages petty cash funds efficiently.
- Fixed Asset Management
- Develops and oversees a system for recording fixed assets.
- Assigns identification tags to fixed assets.
- Records acquisitions and disposals in the accounting system.
- Reconciles fixed asset subsidiary ledgers with the general ledger.
- Calculates depreciation for all fixed assets.
- Maintains an updated schedule of fixed assets and accumulated depreciation.
- Assesses potential obsolescence of fixed assets.
- Conducts periodic physical inventories of fixed assets.
- Prepares property tax returns and represents the organization during audits.
- Sales and Use Tax Compliance
- Collects sales tax from customers and files necessary returns.
- Ensures compliance with sales tax exemption requirements.
- Represents the organization during sales and use tax audits.
- Additional Responsibilities
- Oversees month-end closing processes related to accounts receivable and fixed assets.
- Prepares audit schedules and assists auditors with inquiries.
- Reports on departmental processing metrics and KPIs.
- Communicates effectively with internal and external stakeholders.
- Identifies opportunities for process enhancements and compliance.
- Participates in special projects as needed.
Preferred Qualifications:
- Bachelor's degree in Accounting or Finance.
- In-depth knowledge of credit-related regulations.
- 10+ years of relevant accounting experience.
- Preference for candidates with CPA or CMA certifications.
Required Qualifications:
- 5+ years of experience in credit and accounts receivable.
- Experience in managing a high volume of customer accounts in a multi-location setting.
- Demonstrated project management and process improvement skills.
- Experience with general ledger reconciliations and month-end processes.
- Proficient in Microsoft Office Suite.
- Experience with sales and use tax filings.
- Strong organizational and problem-solving abilities.
- Effective communication skills, both verbal and written.
- A team-oriented mindset with attention to detail.
Physical Requirements:
This position primarily operates in an office environment with occasional travel as necessary.
Disclaimer:
The above statements are intended to describe the general nature and level of work performed by individuals in this role. They are not exhaustive lists of all responsibilities, duties, and skills required. Employees may be required to perform additional tasks as needed.