Finance Associate - Collections

Job Summary:The Finance Associate - Collections is responsible for managing and executing the collections process to ensure timely receipt of payments from customers. The role requires excellent communication skills, financial acumen, and attention to detail to maintain cash flow, minimize delinquency, and build strong relationships with clients.Key Responsibilities:Collections Process:Proactively contact clients via phone, email, and other communication channels to follow up on outstanding invoices.Ensure timely collections of accounts receivable to meet organizational targets.Investigate and resolve payment discrepancies or disputes with customers.Customer Account Management:Maintain detailed records of customer interactions, payment commitments, and outcomes.Monitor aging accounts and identify high-risk customers.Work closely with sales and customer service teams to address client concerns impacting payment timelines.Reporting:Prepare regular reports on collections performance, delinquency rates, and outstanding balances.Provide management with updates on major accounts and recommend action plans for delinquent accounts.Compliance and Documentation:Customer contract verification. Ensure adherence to company policies and legal regulations related to credit and collections.Maintain accurate and up-to-date documentation of all collection activities.Process Improvement:Identify and implement strategies to streamline the collections process.Recommend improvements to credit policies or procedures to minimize future delinquencies.Qualifications:Education: Bachelor's degree in finance, accounting, business administration, or a related field.Experience: 1-3 years of experience in collections, accounts receivable, or a similar finance role.Familiarity with invoicing and billing systems.Skills:Strong negotiation and communication skills.Proficiency in financial software (e.g. QuickBooks) and Microsoft Office (Excel, Word).Analytical and problem-solving skills to address payment issues effectively.Attention to detail and ability to work under deadlines. PRB