The Senior Executive – Accounts Receivable (AR) is responsible for managing and overseeing the accounts receivable function within a company. This role plays a crucial role in ensuring the timely and accurate collection of outstanding payments from customers or clients, maintaining healthy cash flow, and reducing delinquencies.
Roles & Responsibilities:
- Invoicing and Billing: Generate accurate and timely invoices for services rendered to customers. Ensure that invoices are sent to the appropriate parties and contain all relevant details for easy processing.
- Payment Processing: Receive and record payments from customers via various payment methods, such as checks, electronic transfers, credit cards, etc. Apply payments to appropriate customer accounts in the accounting system.
- Accounts Receivable Monitoring: Regularly review and monitor accounts receivable aging reports to identify outstanding invoices and overdue payments. Follow up with customers for timely payment collections.
- Collection Activities: Proactively contact customers for payment reminders and follow-up on overdue invoices. Maintain a professional and customer-focused approach during collection efforts.
- Dispute Resolution: Address and resolve any payment discrepancies or disputes with customers. Collaborate with relevant departments to ensure accurate billing and resolve issues promptly.
- Customer Relations: Establish and maintain positive relationships with customers to facilitate smoother payment processes and improve overall customer satisfaction.
Reporting and Analysis:
Prepare and present accounts receivable reports, aging analysis, and collection status updates to management. Provide insights into trends and potential areas for improvement.
- Bad Debt Management: Collaborate with finance and credit teams to identify and manage bad debts. Initiate collection procedures for accounts that are deemed uncollectible.
- Process Improvement: Continuously review and enhance accounts receivable processes to improve efficiency, reduce delinquencies, and accelerate cash collections.
Job Specification:
- Bachelor’s degree in Accounting, Finance, Business Administration, or a related field.
- Proven experience (typically 3-5 years) in accounts receivable management or related financial roles.
- Strong knowledge of accounts receivable principles, credit management, and collection practices.
- Familiarity with accounting software and enterprise resource planning (ERP) systems.
- Excellent communication and interpersonal skills to interact with customers and internal teams.
- Analytical mindset with the ability to analyze AR reports and identify trends.
- Detail-oriented with a commitment to accuracy in payment processing and account reconciliation.
- Ability to work independently, prioritize tasks, and meet deadlines.
- Proficiency in using Microsoft Excel or other spreadsheet tools for data analysis.
- Understanding of data privacy and security regulations related to financial information
Behavioural Competencies:
- Empathy & Flexibility
- Ethical in thought and action
- Ability to work with diverse teams, able to influence and build qualified relationships
- Confidence and Self-motivated
- Leadership skills
- Decision-making skills