- Financial Operations Specialist (A/R) in Mt. Olive, NJ
- 6 month contract
- Accountability for assigned customer accounts requiring complete analysis of credit extension, management of accounts within prescribed credit guidelines, timely research of deductions and expeditious collection of all past due invoices and invalid deductions.
- Requires timely review and decisions regarding the release or hold of customer orders and significant communication with customers and the Sales organization.
- Manage and control the receivable portfolio by direct involvement in investigation, reconciliation and collection of assigned accounts.
- Collect outstanding invoices as well as resolve deductions via phone & written communication.
- Decide whether or not to release new orders for shipment up to $10,000 based on specific credit risk evaluation. Make recommendation to Financial Operations Manager- AR for any order over $10,000. Deal directly with the account and Sales Associates to resolve obstacles potentially leading to the withholding of orders.
- Establish credit lines on new accounts and update existing credit lines up to $10,000 using trade and bank references, financial statements, internal system information and credit group contacts to identify risk. Make recommendations for changes over $10,000 to Financial Operations Manager- AR.
- Prepare spreadsheets and presentations to utilize in customer visits or collection efforts.
- Assist the Financial Operations Manager- AR in representing the department/company at creditor meetings, bankruptcy proceedings, sales presentations and cross-functional team meetings as well as serve as back up in the office during their absence.
- Communicate extensively with customers, Sales Associates and Customer Care regarding past due invoices, delinquent accounts, deductions and proof of delivery. Other communications may include accounting, collection agencies and attorneys. Respond to all questions and inquires relating to credit policy and credit references.
- Offer customers various types of credit arrangements through risk analysis (open, secured, CIA, order to order, EFT).
- Make recommendations for forced collection through collection agencies and attorneys. Monitor progress of collection efforts by third party, collection agencies and/or courts regarding bankruptcies to assure maximum collection of monies owed.
- File proof of claim for bankruptcy, bulk sale or assignment for benefit of creditors.
- Make recommendations for streamlining processes and highlight opportunities for improvements.
- Recommend continuous Improvements to the Senior Financial Operations Specialist.
- Raise unresolved functional and technical issues to Senior Financial Operations Specialist.
- Stay abreast of new processes and system functionality
- Attend training to maintain high level of knowledge