Manager, Collections

2 weeks ago

New York County New York, United States Simpson Thacher & Bartlett LLP Full time
Description/Job Summary

The Collections Manager is responsible for providing innovative daily Collections solutions, facilitating Accounts Receivable operations, and ensuring compliance with Firm and departmental policies and procedures while leading a collections team. The successful candidate will possess a proven track record of leveraging strong interpersonal skills to initiate, develop, and maintain relationships with firm leadership and clients to move the needle on collection of firm Accounts Receivable.Responsibilities/Duties

Provide ongoing strategic oversight and recommendations for continuous process improvement and working collaboratively with the Billing & Collections management team in maximizing firm receivables

Enforce guidelines set by Senior Management, implement changes and improvements, execute strategies, manage inventory and make recommendations to collections methods and procedures as needed

Monitor and track accounts receivable on a daily basis, and collaborate with Senior Management to compile monthly collection projections

Play key role in the year-end collection progress including participation in regular review inventory review meetings and accelerated collection efforts

Collaborate with billing management team to identify and remove roadblocks to collections

Foster and maintain client relationships to ensure prompt resolution and payment, and resolve outstanding discrepancies

Work with Partners in the management of their accounts receivable, keeping them informed of potential collection issues as well as advising them on collections strategies in bringing delinquent accounts current

Act as a resource in the research and resolution of payment issues in order to prevent further aging of delinquent balances

Analyze delinquent accounts and prepare reports on highest-risk accounts to ensure effective management of accounts receivables

Lead a team of Coordinators to manage workflow, coordinate assignments to meet deadlines, and drive collection initiatives aimed at reducing loss, and minimizing exposure to risk, with an emphasis on early-stage collections and meeting the objectives of the department and Firm

Conduct staff meetings to review key accounts, A/R issues, implement strategy, and guide workflows

Effectively delegate and communicate goals to staff

Perform supervisory duties including interviewing, hiring, training, managing overtime, scheduling time-off requests, evaluating job performance, and conducting yearly performance evaluations of assigned staff

Set performance standards and goals; coach and develop staff to increase efficiency and deliver outstanding customer service to internal and external customers

Ensure effective administration and communication of departmental and Firm policies and procedures

Performs other duties as assigned

Required Skills

6 to 10 years of collection experience in a large law firm; 3+ years of collections management experience supervising a team

Strong communication and presentation skills with the ability to present information in a variety of formats to team and higher levels of management in a confident and professional manner

Proficiency in MS Office Suite, particularly in Excel

Strong overall technical aptitude and experience with legal collections related systems; strong attention to detail

Ability to exercise good judgment and decision making

Advanced analytical and problem-solving skills with the ability to fully utilize tools to compile and analyze data and provide recommendations based on analysis

Can organize, prioritize, plan, and multi-task work activities with the ability to effectively pivot to meet deadlines in a high-pressure environment with competing priorities

Ability to use discretion with sensitive and confidential information

Must be results driven

Ability to lead, direct, train and manage a team of employees with varying skills and expertise

Excellent communication and customer service skills with the ability to work effectively with all levels of personnel, both internally and externally

Flexibility to adapt to all work situations and work varied hours

Preferred Skills

Familiarity with 3E Collection Software and reporting, and ability to leverage systems to achieve desired results.

Required Education

Bachelor's degree or equivalent years of relevant experience required.

Preferred Education

Degree in Accounting or Finance preferred.

Details

Salary Information

NY only: The estimated base salary range for this position is $150k to $165k at the time of posting.

The actual salary offered will depend on a variety of factors, including without limitation, the qualifications of the individual applicant for the position, years of relevant experience, level of education attained, certifications or other professional licenses held, and if applicable, the location in which the applicant lives and/or from which they will be performing the job. This role is exempt meaning it is not overtime pay eligible.

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