What are the responsibilities and job description for the Accounts Receivable Specialist position at Confidential?
Accounts Receivable & Collections Specialist
Job Summary:
The Accounts Receivable & Collections Specialist is responsible for managing customer payments, maintaining accurate accounts receivable records, and supporting collection activities to reduce outstanding balances. This position plays a critical role in ensuring timely cash flow, accurate financial reporting, and positive client relationships within the organization. Primary responsibilities include accounts receivable management, collections activities, and cash application processing.
Key Responsibilities:
• Manage and maintain accounts receivable records to ensure timely and accurate payment posting.
• Contact customers regarding current and past due invoices to secure payment commitments and resolve outstanding balances.
• Prepare and distribute collection notices and follow-up communications.
• Reconcile customer payments with accounts receivable ledgers and investigate discrepancies.
• Accurately post and record daily cash receipts for all revenue streams, including domestic and international transactions.
• Maintain detailed documentation of customer communications and collection activities within the company ERP and CRM systems.
• Collaborate with internal stakeholders regarding delinquent accounts and monthly or quarterly accounts receivable reporting.
• Assist with customer billing activities and respond to invoice disputes or payment inquiries.
• Support monthly cash forecasting activities and assist with audit-related requests.
• Identify and recommend process improvements to streamline collections and reduce outstanding receivables.
• Monitor aging reports and proactively address overdue accounts.
• Ensure compliance with internal accounting policies and procedures.
Minimum Education & Experience Requirements:
• High School Diploma or equivalent required.
• Bachelor’s degree in Accounting, Finance, or a related field preferred.
• Minimum of 3–5 years of accounts receivable and collections experience required.
• Prior experience with billing responsibilities and cash application processing required.
• Experience working in a healthcare, hospital care, or related industry environment preferred.
Special Requirements:
• Ability to maintain confidentiality of financial and customer information.
• Ability to work independently while managing multiple priorities and deadlines.
• Strong negotiation and conflict resolution skills required.
Knowledge, Skills, and Abilities:
• Strong understanding of accounts receivable, collections, billing, and cash application processes.
• Proficiency with ERP systems, CRM software, and Microsoft Office applications, particularly Excel.
• Excellent written and verbal communication skills with the ability to interact professionally with clients and internal stakeholders.
• Strong analytical and problem-solving abilities.
• Detail-oriented with a high level of accuracy in financial recordkeeping.
• Ability to manage difficult customer conversations in a professional and tactful manner.
• Strong organizational and time management skills.
• Self-motivated with the ability to work with minimal supervision.
• Ability to collaborate effectively across departments to support collection efforts and financial objectives.
Additional Desired Characteristics:
• Experience supporting process improvement initiatives within finance or accounting functions.
• Ability to build and maintain strong client relationships while achieving collection goals.
• Strategic thinker with a proactive and solution-oriented mindset.
• Demonstrated ability to adapt in a fast-paced business environment.
Work Environment:
• This position operates in a professional office or hybrid work environment within a regional organization.
• Extended periods of sitting and computer use may be required.
• Occasional flexibility in schedule may be necessary to meet business or reporting deadlines.
Other Duties:
This job description is not intended to be all-inclusive. Employees may perform other related duties as assigned to meet the ongoing needs of the organization.