Collections Manager

Job Title: Collections Manager

Location: New York, NY

Salary: $170K - $190K

Stable NYC Law Firm looking for a Collections Manager to join their team!

Responsibilities

• Utilize the customized 3E Collections Module to create each month’s revenue projection to measure against the Firm’s budgeted revenue, and to identify potential shortfalls in the monthly projection.
• Schedule monthly in-person or Teams meetings with billing partners to review each individual’s inventory and solidify collections for the month.
• Meet weekly with CFO and COO to report on projections and any potential issues that may impact collection results.
• Negotiate client settlements with advice and consent of the billing attorney and the COO.
• Prepare detailed impact for write-off of accounts receivable adhering to the firm’s approval policy.
• Assist in transitioning matters handled by departing attorneys to other attorneys of the Firm; determine which matters are inactive to facilitate matters to be closed where appropriate; work with the departed attorney to collect open invoices.
• Review billing department e-billing audit report to collectively address potential problems that may disrupt the revenue cycle.
• Communicate with clients to obtain payment allocation details.
• Research discrepancies in payment amounts versus amount owed. Correspond with billing attorney and client where approved.
• Coordinate with billing coordinators and/or billing attorney to determine timing of payment for closing transactions.
• Continue to innovate and improve the collections process.
• Perform other tasks as assigned.

Qualifications:

• Bachelor’s degree (B.A./B.S.) from a four-year college or university required; degree in Business, Accounting or Finance preferred.
• 5 years of law firm experience in Collections, at a mid-sized or large law firm.
• Advanced proficiency in Microsoft Excel with pivot tables and v-lookup and ability to manipulate and analyze numbers within complex spreadsheets
• Advanced proficiency in Word, 3E and Electronic Billing Systems.
• Proven ability to manage and reduce aged receivables while maintaining positive attorney and client relationships
• Solid understanding of client billing cycles, fee arrangements, and payment terms