Collections Specialist - Remote
TradeJobsWorkForce10039 New York, NY, USRemote
Full-time
Collections Specialist Remote Job Duties: • Meet the defined productivity metric of a minimum of 30 daily claim touch... Show more
Collections ManagerHughes Hubbard & Reed LLP • New York, NY, United States
No longer accepting applications
Collections Manager
Hughes Hubbard & Reed LLP • New York, NY, United States
30+ days ago
Salary
$170,000.00 yearly
Job type
- Full-time
Job description
Collections Manager
The Collections Manager is responsible for overseeing and managing the firm's client receivables and collections process, with a focus on timely cash flow, identifying and managing problematic inventory, and building strong client and partner relationships. This role reports directly to the Director of Revenue Management while working closely with attorneys, billing department, the CFO and COO. The Collections Manager will be expected to build and collect the monthly projected accounts receivable invoices as well as addressing client billing concerns, implement effective collection strategies consistent with firm policies.
The Collections Manager proactively monitors aged receivables, facilitates communication between attorneys and clients, negotiates payment arrangements when appropriate, and ensures accurate documentation and reporting of collection activity. This role also contributes to process improvements and reporting by using data driven analytics.
Principal Duties and Responsibilities:
- Utilize the customized 3E Collections Module to create each month's revenue projection to measure against the Firm's budgeted revenue, and to identify potential shortfalls in the monthly projection.
- Schedule monthly in-person or Teams meetings with billing partners to review each individual's inventory and solidify collections for the month.
- Meet weekly with CFO and COO to report on projections and any potential issues that may impact collection results.
- Negotiate client settlements with advice and consent of the billing attorney and the COO.
- Prepare detailed impact for write-off of accounts receivable adhering to the firm's approval policy.
- Assist in transitioning matters handled by departing attorneys to other attorneys of the Firm; determine which matters are inactive to facilitate matters to be closed where appropriate; work with the departed attorney to collect open invoices.
- Review billing department e-billing audit report to collectively address potential problems that may disrupt the revenue cycle.
- Communicate with clients to obtain payment allocation details.
- Research discrepancies in payment amounts versus amount owed. Correspond with billing attorney and client where approved.
- Coordinate with billing coordinators and/or billing attorney to determine timing of payment for closing transactions.
- Continue to innovate and improve the collections process.
- Perform other tasks as assigned.
Position Specific Skills and Requirements:
- Advanced proficiency in Microsoft Excel with pivot tables and v-lookup and ability to manipulate and analyze numbers within complex spreadsheets. - Required
- Advanced proficiency in Word, 3E and Electronic Billing Systems. - Preferred
- Excellent time, task management and organizational skills.
- Proven ability to manage and reduce aged receivables while maintaining positive attorney and client relationships
- Solid understanding of client billing cycles, fee arrangements, and payment terms
- Ability to interpret financial data and present clear, actionable reporting to finance leadership
- Flexibility to adapt to changing priorities in a fast?paced, deadline?driven environment
Education and General Requirements:
- Bachelor's degree (B.A./B.S.) from a four-year college or university required; degree in Business, Accounting or Finance preferred.
- 5+ years of law firm experience in Collections, at a mid-sized or large law firm.
- Hybrid schedule: minimum of 3 days per week working in-person in the HHR NYC office.
- 5 days in office beginning Monday after Thanksgiving through Dec 31 st
All qualified applicants will receive consideration for employment and will not be discriminated against on the basis of race, color, religion, sex, sexual orientation, national origin, age, disability, or protected veteran status. VEVRAA Federal Contractor.
Salary Range
$170,000 - $190,000 USD
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Collections Manager • New York, NY, United States
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