What are the responsibilities and job description for the Credit & Collections Analyst position at Abiomed?
Abiomed is a pioneer and global leader in healthcare technology and innovation, with a mission of Recovering Hearts & Saving Lives. With corporate headquarters in Danvers, Massachusetts, and offices in Baltimore, MD, Woburn, MA, Aachen & Berlin, Germany and Tokyo, Japan, Abiomed’s 2,000 employees form one of the fastest growing medical device companies in the world. We attract and retain exceptional talent with our collaborative culture, passion for our work, and a strong commitment to employee professional development.
Patients First | Innovation | Winning Culture | Heart Recovery
The Credit and Collections Analyst is responsible $1B accounts receivable base ensuring timely payments, initiating the appropriate escalation actions required to facilitate customer payments, while adhering to aggressive collections goals and performance targets or KPI’s. This role is responsible to resolve customer invoicing disputes, applying the required protocols to mitigate bad debt exposure, collaborating with internal business partners to support the quote-to-cash process and facilitate AR-related adjustments and activities, etc. This role is responsible to create and maintain an accurate cash forecast. Successful candidates will adhere to the implemented processes to improve cashflow; reduce receivables and reduce bad debt.
Description:
- Partner with the Customer Service, Field Service and Sales teams to adhere to processes and policies, obtain information and report unresolved payments
- Respond to customer concerns regarding billing and services rendered to ensure payment if forthcoming
- Responsible for tracking of all payments and notifying finance management upon identifying any posting issues
- Review collection reports and provide overview of collections efforts to finance leadership. Propose solutions to address outstanding accounts
- Initiate collection process on all overdue accounts by running the weekly dunning process
- Contact customers that are past due via email or phone call as necessary
- Review delinquent accounts to ensure proper actions have been taken before proposing for bad debt approval
- Investigate delinquent accounts, send collection letters, and calls customers regarding collections status.
- Document all processes and procedures related to collection efforts
- Provide feedback and insight to Management regarding trends in delinquency, collectability, and field service contracts cancellation of customer accounts that will impact then financial performance of the company
- Recommend improvements for streamlining internal processes across organizational functions with the goal of improving delinquency rates, early cancellation recovery and bad debt recovery
- Primary contact for all activities and requests to come into the credit and collections department
- Submit invoices on customer portals such as PIEE and OB10
- Process credit applications, recommend credit limits for new and existing accounts
Job Requirements:
- Bachelor’s degree preferred
- 5 years work experience in credit and collections
- SAP experience required; WAWF PIEE, Tungsten, OB10 and GHX experience preferred
- Full understanding of rules and regulations related to credit reporting and practices
- Collections experience dealing with internal and external customers
- Strong influencing skills with customers to ensure payments received
- Excellent knowledge of collections practices and accounting software
- Excellent skills in customer interaction, time management, multi-tasking, and organization
- Effective communication skills
- Excellent PC skills, including using spreadsheets and accounting software
- Excellent analytical and problem-solving skills
- Ability to review detailed data and make prompt judgments based on that data
- Able to work efficiently and effectively under tight deadlines, interruptions, and high work volumes
- Excellent written and verbal communication skills
Abiomed is an Equal Opportunity Employer committed to a diverse workforce. Abiomed will not discriminate against any worker or job applicant on the basis of race, color, religion, gender, gender identity, national origin, ancestry, age, sexual orientation, gender identity, marital or civil partnership status, pregnancy, gender reassignment, non-job related mental or physical disability, genetic information, veteran status, military service, application for military service, or membership in any other category protected under law. Abiomed maintains a drug-free workplace.
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