Accounts Receivable Manager

Job Purpose:

The Account Receivable Manager is responsible for overseeing the company's accounts receivable processes, ensuring the timely collection of outstanding payments, and maintaining accurate financial records for all customer transactions. This role will also focus on managing credit risk, improving cash flow, and coordinating with internal departments to resolve discrepancies and payment issues in a container freight station (CFS) setting.

Experience Required: 7- 8 years

Key Responsibilities:

1. Manage Accounts Receivable Processes:
• Oversee the daily accounts receivable operations, including invoicing, collections, and reconciliation.
• Ensure accurate and timely issuance of invoices to customers, in compliance with contract terms and company policies.
• Track and monitor customer payments, ensuring that overdue accounts are identified and addressed promptly.
• Ensure that all accounts are reconciled and that discrepancies are investigated and resolved.
2. Credit Management:
• Evaluate customer creditworthiness by reviewing financial statements, credit reports, and historical payment behavior.
• Set credit limits for customers and make recommendations for any adjustments based on financial analysis.
• Manage the credit approval process in collaboration with the sales and risk management teams.
• Regularly review and update the credit policies and procedures to mitigate risk.
3. Collections and Customer Relationship Management:
• Monitor accounts for overdue payments and follow up with customers through phone calls, emails, and letters to facilitate timely payment.
• Resolve customer queries or disputes related to invoicing, payments, or service terms, collaborating with the customer service and operations teams.
• Build and maintain strong relationships with customers to encourage timely payments and resolve issues efficiently.
4. Reporting and Analysis:
• Prepare monthly, quarterly, and annual reports on accounts receivable aging, collection performance, and cash flow.
• Provide detailed analysis of outstanding receivables, identify trends, and provide actionable insights to management to improve collection strategies.
• Present reports to senior management, including updates on collections, aging accounts, and bad debt provisions.
5. Cash Flow Management:
• Work closely with the finance team to ensure that cash flow projections are accurate and that outstanding receivables are managed effectively to maintain liquidity.
• Develop strategies to improve cash collection cycles and reduce days sales outstanding (DSO).
6. Compliance and Controls:
• Ensure adherence to internal controls and compliance with accounting standards, company policies, and regulatory requirements.
• Stay up-to-date with industry trends, best practices, and changes in financial regulations.
• Conduct periodic audits of accounts receivable records to ensure accuracy and compliance.
7. Team Leadership and Development:
• Lead, mentor, and supervise a team of accounts receivable staff, ensuring efficient workflow and high performance.
• Provide training and professional development opportunities to team members.
• Establish clear goals and performance metrics for the accounts receivable team and track progress.
8. Collaboration with Other Departments:
• Collaborate with sales, operations, and customer service teams to address customer issues and ensure accurate billing and timely collections.
• Provide feedback to the operations team on customer payment trends and any recurring issues that may impact future business transactions.