Collections Specialist

posted:
Location
Madison, Wisconsin
Industry
Customer Service & Call Center (Office and Administrative Support Occupations)
Job Type
Full-Time
Working Hours
8:00 AM - 5:00 PM
Salary
US$ 15.00 - US$ 20.00 per hour
Ref. Number
S_39219
Contact
Moto Gladys Igahara, Spherion
Phone
608-274-6000
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Job Description

The Collections Specialist is responsible for collecting outstanding accounts receivable balances from customers. This position is also responsible for all other aspects of collections, resolving customer billing problems and reducing accounts receivable delinquency. In addition, this position is responsible for establishing and maintaining proper credit terms for customers.

Responsibilities:
- Monitor open accounts receivable balances of customers for adherence to payment terms. Follow up with customers by telephone, email, fax or postal mail to inquire about past due balances. Research disputed delinquent account balances and provide documentation to customers. Place customers on ???stop ship??? status if collection efforts are not effective.
- Review customer accounts when new orders are placed on ???credit hold??? or ???over credit limit??? status.
- Establish and maintain customer credit terms by gathering and analyzing credit information, such as commercial credit ratings from outside agencies, financial statements, bank and trade references, and publicly available information.
- Recommend appropriate credit terms for new customers based on analysis.
- Monitor Credit Team mailbox for requests made by internal and external customers.
- For customers who receive their invoices from via a web-based portal, ensure all invoices are submitted on the same day they are generated. Resolve any related errors in a timely manner
- Distributor customer collections: Establish and maintain relationship with distributor accounts payable representatives, ensure monthly statements are emailed to distributor, resolve all short-pay and over-pay collection issues, and suggest possible solutions for resolving collection issues.
- Miscellaneous essential duties:
--- Provide credit references for existing customers when requested.
--- Resolve incoming mail issues, such as incorrect addresses, incorrect purchase order numbers, and pricing discrepancies.
--- Recommend past due accounts for quarterly bad debt write off.
--- Obtain proper authorizations for customer refunds
--- Process all incoming checks and cash received deposit funds weekly.

OCCASIONAL DUTIES:
- Provide backup to the Sr. Accounts Receivable Specialist.
- Work with Accounts Payable Team to set-up and maintain new vendor master files in SAP.
- Support the year-end fiscal audit processes, including working with external auditors to complete the annual audit.
- Other projects as deemed necessary.

Working hours: 8:00 AM - 5:00 PM

Skills:
- Strong organizational skills
- Strong analytical and problem-solving skills
- Strong verbal and written communication skills
- Ability to work in a team environment
- Ability to work on multiple tasks while maintaining normal activities.
- Ability to work independently and be decisive.

Education:
Associate

Experience:
1-4 years

Qualifications:
- Associate degree in Accounting. High school diploma/GED with the requisite work experience will also be considered
- Work experience of 1-2 years in a credit and collections position, including opening new accounts, making credit decisions and working with customer credit limits
- Experience with or knowledge of ERP systems, preferably SAP (FICO)
- Proficient in Microsoft Office, specifically Excel, Word and PowerPoint
- Experience communicating with customers regarding payments, credit options and discrepancies
- Must understand and comply with applicable ethical, legal and regulatory requirements


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