Accounts Receivable and Collections Specialist

Usm - Norristown, PA

Full-time - Mid Level

Norristown, PA

Computer and Electronic Product Manufacturing

About the position

The Accounts Receivable and Collections Specialist at USM, Inc. plays a crucial role in managing the company's investment in accounts receivable. This position is responsible for ensuring that payments are made within the agreed terms and for advising management about customers who exceed these terms. The specialist will also report on significant collection issues that could impact cash flow. The primary goal of this role is to maximize cash collections by meeting or exceeding established cash targets, minimizing bad debt expenses, and consistently reducing past due accounts receivable balances. Additionally, maintaining a positive working relationship with both internal and external customers is essential for success in this position. The ideal candidate will possess strong analytical skills and attention to detail, enabling them to effectively manage assigned accounts and make timely collections while fostering good customer relationships. They will be expected to assess payment histories at the client level to forecast cash receipts and prepare weekly reports on account aging for management and account teams. Daily responsibilities include processing credit applications, handling bankruptcy notifications, and identifying uncollectible balances to prepare monthly bad debt analysis reports. The specialist will collaborate with the Credit Manager to oversee the execution and management of credit and collections programs, and may assist in credit evaluations by gathering financial information and performing basic credit reviews. In addition to these responsibilities, the Accounts Receivable and Collections Specialist will perform account analyses to identify trends and root causes of ongoing issues, developing solution plans to improve the situation. Building relationships with customers and internal departments is vital, as is working closely with clients and billing teams to resolve billing errors through regular audits. The specialist will also participate in developing and documenting policies and procedures for credit processes, recommending opportunities for continuous improvement, and completing ad hoc projects that require data mining and analytical skills.

Responsibilities

• Effectively manage assigned accounts by making timely collections while maintaining good customer relationships.
• Assess payment history at the client level to assist in forecasting cash receipts two months in advance.
• Prepare weekly reporting on account aging to be distributed to management and account teams as requested.
• Perform daily activities pertaining to credit application processing and bankruptcy notifications.
• Identify uncollectible balances and prepare monthly bad debt analysis reports to support the company's reserve.
• Work with the Credit Manager to oversee the execution and management of credit and collections programs.
• Assist with credit evaluation activities, including gathering financial information from customers and performing basic credit reviews.
• Perform account analysis to identify trends, problems, and root causes of ongoing issues, outlining solution plans.
• Develop relationships with customers, internal departments, and associates.
• Work closely with clients and internal billing teams to resolve billing errors through regular audits.
• Participate in developing and documenting policies, procedures, and internal controls for credit processes.
• Recommend opportunities for continuous improvement and complete ad hoc projects that require data mining and analytical skills.

Requirements

• Bachelor's Degree in Accounting or Finance
• 5+ years of experience in accounts receivable and collections
• Advanced Excel skills
• Experience with JD Edwards
• Strong analytical skills
• Excellent communication skills
• Ability to reconcile large amounts of data
• Ability to multi-task and prioritize effectively
• Strong focus on organizational goals

Nice-to-haves

• Presentation skills
• Experience in credit evaluation activities

Benefits

• Competitive salary
• Comprehensive benefits package
• Opportunities for professional development