Accounts Receivable Analyst

$62,400 - $72,800/Yr

LaSalle Network - Chicago, IL

Full-time - Entry Level

Hybrid - Chicago, IL

Administrative and Support Services

About the position

LaSalle Network is partnering with a leading financial services provider that specializes in delivering innovative solutions to clients worldwide. This organization is dedicated to excellence, offering a wide range of services, including credit, lending, asset management, and more. The team is committed to fostering a collaborative and dynamic work environment, providing opportunities for growth and development. They are currently seeking a detail-oriented and motivated Accounts Receivable Analyst to join their finance team. The Accounts Receivable Analyst will be responsible for managing and optimizing the company's receivables process, ensuring timely and accurate collection of payments, and maintaining excellent relationships with clients. This role will require strong analytical skills, exceptional communication abilities, and a proactive approach to problem-solving. The ideal candidate will have a solid understanding of accounting principles and experience in accounts receivable or a similar financial role, preferably within the financial services industry. In this position, the Accounts Receivable Analyst will manage and oversee the full accounts receivable cycle, including invoicing, collections, and reconciliation of client accounts. They will monitor aging reports and follow up on overdue accounts to ensure timely collections, investigate and resolve discrepancies related to payments and customer billing, and serve as the primary point of contact for customers regarding payment-related queries and issues. Additionally, the analyst will prepare monthly AR reports, analyze client payment behaviors, and assist in month-end and year-end closing activities, ensuring AR-related accounts are accurately reported. The role also involves collaborating with other departments to ensure proper invoicing and resolve any process bottlenecks, as well as utilizing financial software to process AR transactions and recommend automation of AR functions to enhance accuracy and reduce manual tasks.

Responsibilities

• Manage and oversee the full AR cycle, including invoicing, collections, and reconciliation of client accounts.
• Monitor aging reports and follow up on overdue accounts to ensure timely collections.
• Investigate and resolve discrepancies related to payments and customer billing.
• Serve as the primary point of contact for customers regarding payment-related queries and issues.
• Maintain strong working relationships with internal and external stakeholders to resolve billing issues and ensure smooth communication.
• Prepare monthly AR reports, including aging analysis and provide insights into collection trends and performance.
• Analyze client payment behaviors, identify potential risks and recommend improvements to the AR process.
• Assist in month-end and year-end closing activities, ensuring AR-related accounts are accurately reported.
• Develop and implement best practices for AR processes to improve efficiency and reduce overdue receivables.
• Ensure compliance with company policies, industry regulations, and accounting standards.
• Collaborate with other departments (e.g., Sales, Customer Service) to ensure proper invoicing and resolve any process bottlenecks.
• Utilize financial software (e.g., SAP, Oracle, QuickBooks) to process AR transactions, reconcile accounts, and generate reports.
• Recommend and assist in automating AR functions to enhance accuracy and reduce manual tasks.

Requirements

• Bachelor's degree in Accounting, Finance, or a related field.
• 2+ years of experience in accounts receivable or a similar financial role, preferably within the financial services industry.
• Strong understanding of accounting principles, particularly related to receivables and revenue recognition.
• Proficiency in financial software (e.g., SAP, Oracle, QuickBooks) and advanced Excel skills.
• Experience in the financial services sector or similar highly regulated industries preferred.
• Familiarity with AR automation tools and systems preferred.
• Understanding of GAAP and other accounting regulations related to receivables preferred.

Nice-to-haves

• Experience in the financial services sector or similar highly regulated industries preferred.
• Familiarity with AR automation tools and systems preferred.
• Understanding of GAAP and other accounting regulations related to receivables preferred.

Benefits

• Dental insurance
• Health insurance
• Vision insurance
• Family Medical Leave
• Worker's compensation
• Paid Leave
• Sick Leave