Collections Manager

3 weeks ago

Chicago, United States Crowell & Moring Full time
Job Description

Crowell & Moring LLP is an international law firm with offices in the United States, Europe, MENA, and Asia that represents clients in litigation and arbitration, regulatory and policy, and transactional and corporate matters. The firm is internationally recognized for its representation of Fortune 500 companies in high-stakes litigation and government-facing matters, as well as its ongoing commitment to pro bono service and diversity, equity, and inclusion.

Job Summary

The Collections Manager plays a key role in the Firm’s inventory management and collection efforts. The Manager leads a team of Collection Specialists to engage in the collections process and help leadership to develop best practices. The Manager will collaborate with billing team management to drive revenue and resolve issues related to collections. Further, the Manager will advise and assist Partners with managing accounts receivable, collections issues, and client correspondence to ensure prompt resolution of discrepancies or issues in alignment with department standards.

Job Responsibilities

  • Manages a small team of cash applications specialists and collections specialists/consultants.
  • Ensures collections specialists/consultants are executing in a consistent manner and that material aged receivables are addressed/escalated on a regular basis.
  • Plays a key role in the year-end collection progress including participation in regular inventory review meetings and accelerated collection efforts.
  • Communicates with billing attorneys and clients to help drive collections, inventory adjustments, and resolution of amounts held in suspense accounts.
  • Collaborates with the billing team and attorneys to resolve billing & collections issues, including electronic billing matters and outside counsel guideline compliance.
  • Contributes to the development of best practices for collections and A/R management and implements proactive firm-wide solutions to streamline and improve deficient processes.
  • Develops and implements a reliable “reminder program” for clients having unpaid invoices beyond agreed upon payment terms.
  • Analyzes delinquent accounts and prepares reports to identify clients with the highest risk of non-collection and makes recommendations for resolutions.
  • Supports the Firm’s internal bankruptcy attorneys for Firm clients that file for bankruptcy.
  • Oversees posting of daily receipts (checks/wires/ACHs) and coordinates with attorneys on payment-related issues, ensuring proper allocation of payments.
  • Negotiates payment programs with clients; identifies accounts that require third-party collection efforts or possible legal action and coordinates same with third-party vendors.
  • Works closely with the Firm’s Client Trust Accounting team coordinating with Firm attorneys, management, clients and the bank on complex escrow related transactions.
  • Performs routine audits of work performed by collections consultants to ensure internal controls are being followed and that the expected level of client/billing lawyer outreach is occurring.
  • Works with other Firm leaders to plan for potential business disruption, ensures critical data is backed up properly and creates business continuity solutions by testing and implementing various recovery plans enabling the Firm to resume normal operations as soon as possible following a disaster.
  • Oversees the recruitment, performance management, development, training and motivating of team members managed.

Qualifications

Requirements:

  • The position requires a Bachelor’s Degree in Business Administration, Accounting or Finance.

  • The position requires a minimum of five (5) years of increasingly responsible, directly related experience in billing and collections functions that included direct supervision of others on a regular basis.

Knowledge, Skills and Abilities:

  • Demonstrated ability to drive the pace of collections efforts in order to maximize revenue and reduce inventory leakage do to aging.
  • Demonstrated ability to effectively supervise others, including hiring, training, assigning work and managing performance.
  • Demonstrated knowledge of Elite 3E or other similar accounting system with the ability to instruct others in its use.
  • Demonstrated ability to provide quality client service to both internal and external contacts, regarding financial matters of a complex nature. Requires patience, creativity and discretion.
  • Demonstrated ability to communicate clearly and effectively, both orally and in writing, with management, staff, attorneys, clients, and vendors.
  • Demonstrated ability to organize and prioritize work of a highly detailed nature in a dynamic and complex environment to meet deadlines and daily requirements.
  • Demonstrated high proficiency in Microsoft Excel and other Microsoft suite applications.
  • Ability to represent the firm with honesty, integrity, and professionalism, consistently acting in an ethical manner.

Additional Information

Crowell & Moring LLP offers a competitive compensation and comprehensive benefits package which includes progressive options such as backup child care, wellness programs, cultural events and social activities. We take great pride in our positive, friendly culture that rewards hard work and success, at the same time recognizing the importance of family and community service.

EOE m/f/d/v

Crowell & Moring LLP participates in the E-Verify program.

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