About the Team/Role
This role will play a pivotal role in managing the receivables operations for strategic accounts with intricate billing structures. The position is instrumental in ensuring timely collection of outstanding accounts receivable, maintaining a healthy aging portfolio, fostering strong customer/client relationships and optimizing cash flow.
How you'll make an impact
Manage an accounts receivable portfolio and related processes for large, strategic customers with complex account structures and billing terms.
Collaborate with clients to procure promises to pay, resolve payment discrepancies delinquencies, and establish mutually beneficial arrangements.
Deploy strategies to optimize collections processes, reduce outstanding balances, drive down the portfolio DSO and increase customer adherence with contractual payment terms.
Responsible for complex monthly audits and account reconciliations of multiple off-cycle non-standard billing customers to ensure accuracy in receivables records and prevent embedded receivables.
Identify trends, anomalies, and potential risks within the accounts receivable portfolio.
Ensure adherence to compliance standards and internal controls.
Monitor billing processes and address any issues or discrepancies to facilitate prompt payments.
Provide regular updates to leadership and internal stakeholders on the status of collections and client interactions.
Build and maintain strong relationships with key strategic customers to facilitate prompt payments and resolve issues proactively; address inquiries, provide support, and ensure overall customer satisfaction.
Collaborate with sales and account management teams to align collections efforts with broader business strategies.
Share insights on client payment behaviors and potential risks that may impact the business relationship.
Identify and implement opportunities for process improvement in the collections workflow to enhance efficiency and effectiveness.
Implement best practices to streamline collections processes, reduce outstanding balances, and drive down the DSO.
Collaborate with internal stakeholders to streamline invoicing, payment, and reconciliation workflows.
Proactively identify and embrace opportunities to integrate AI and automation technologies into operational processes. This includes initiatives to drive scale, reduce reliance on manual processes, and mitigate operational risks.
These statements are intended to describe the general nature and level of work being performed rather than give an exhaustive list of all duties and responsibilities.
Experience you'll bring
Minimum Required Qualifications for Consideration
Bachelor’s degree in Accounting, Finance or Business or the equivalent work experience 4+ years of progressive experience in accounts receivable.
In-depth knowledge of accounting, accounts receivables processes, complex billing terms, and collections strategies.
Strong analytical and problem-solving skills with the ability to interpret complex contractual agreements.
Advanced account reconciliation and auditing skills with experience preparing and presenting audits to internal and/or external stakeholders
Superior critical thinking, problem solving and decision-making skills
Effective communication skills, both verbal and written, with the ability to interact professionally with customers and internal stakeholders.
Must successfully pass a background investigation.
The base pay range represents the anticipated low and high end of the pay range for this position. Actual pay rates will vary and will be based on various factors, such as your qualifications, skills, competencies, and proficiency for the role. Base pay is one component of WEX's total compensation package. Most sales positions are eligible for commission under the terms of an applicable plan. Non-sales roles are typically eligible for a quarterly or annual bonus based on their role and applicable plan. WEX's comprehensive and market competitive benefits are designed to support your personal and professional well-being. Benefits include health, dental and vision insurances, retirement savings plan, paid time off, health savings account, flexible spending accounts, life insurance, disability insurance, tuition reimbursement, and more. For more information, check out the "About Us" section.Pay Range: $51,500.00 - $59,800.00