Accounts Receivable Manager

Role – Accounts Receivable Manager
•Hybrid on-site schedule (3 days a week most weeks)* 
 

Position Summary: Accounts Receivable Manager

The Accounts Receivable Manager plays a pivotal role in overseeing various aspects of the accounts receivable function. This multifaceted position involves research, reporting, coordination, and the processing of On Account Credits, cash receipt applications, as well as the management and allocation of firm credits. These responsibilities encompass addressing unidentified payments, unallocated credits, retainers, and client credit memos. The Accounts Receivable Manager ensures that essential duties are accomplished either through personal execution or by effectively delegating and supervising subordinates. In every aspect of their role, maintaining the utmost professionalism and strict confidentiality regarding both client and firm matters is paramount.

Key Responsibilities:

1. Reporting and Analysis: Create and distribute comprehensive reports to management and other departments, including daily incoming wire activity, cash receipt results, benchmarking data on check versus wire receipts, On Account credits reporting, accounts receivable write-off reporting, and escrow activity. Provide timely, actionable information in each case.

2. Aged Receivables Management: Collaborate with others to regularly review accounts receivable balances and make recommendations for writing off aged receivables, ensuring the prompt handling of small balances due to bank charges or short-payments.

3. Cash Receipts Research: Ensure timely investigation of unidentified cash receipts, collaborating with attorneys, billing managers, and coordinators as needed to ensure swift identification and application to client invoices.

4. Escrow Coordination: Collaborate with firm attorneys, management, clients, and the bank on escrow-related activities.

5. Process Enhancement: Develop and implement accounting procedures aligned with firm and department policies to enhance the efficiency of accounting-related work.

6. Supervision: Manage and supervise a team of 5 full-time Accounts Receivable staff, including conducting performance reviews, hiring new personnel, and providing training.

7. Quality Assurance: Audit the work completed by Accounts Receivable personnel to assess the quality and accuracy of processed information, ensuring adherence to internal controls.

8. Cross-Departmental Support: Oversee training and provide support to members of other departments concerning accounting procedures, particularly in the preparation and submission of paperwork for cash receipts, credits, write-offs, and escrow transactions.

9. Issue Resolution: Investigate and resolve inquiries and issues related to accounts receivables, cash receipts, and escrow transactions.

10. Policy Development: Collaborate with management to develop policies and procedures that enhance staff efficiencies.

11. System Upgrades: Participate in systems upgrades for testing Accounts Receivable functions.

12. Ad Hoc Requests: Fulfill other ad hoc requests and reporting as required by management.

Supervisory Responsibilities:

The Accounts Receivable Manager directly supervises and manages employees, overseeing their direction, coordination, and evaluation. They adhere to the firm’s policies and applicable laws in performing supervisory responsibilities, which include hiring, interviewing, training, assigning work, performance appraisal, reward, discipline, addressing complaints, and problem resolution.

Knowledge, Skills, and Abilities:

• Bachelor’s degree in Accounting, Finance, or equivalent.
• Minimum of ten years of accounts receivable/cash receipts experience, with at least five years of supervisory experience within an Am Law 50 law firm or equivalent.
• Proficiency with Elite and/or Aderant accounting software.
• Strong proficiency in MS Excel, MS Word, and PowerPoint.
• Exceptional interpersonal, verbal, and written communication skills.
• Outstanding analytical skills and attention to detail in complex accounting principles.
• Proactive with excellent troubleshooting and problem resolution skills.
• Supervisory and managerial skills for effective team management.
• Strong organizational skills, including data collection and analysis.
• Ability to perform complex mathematical calculations.
• Capacity to work beyond 37.5 hours per week as needed to meet deadlines.

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