Billing & Collections Sr Associate Job Description Template
The Billing & Collections Sr Associate plays a crucial role in managing and optimizing the billing and collections processes. This position demands a keen eye for detail, excellent communication skills, and a proactive approach to solving issues and improving financial operations.
Responsibilities
- Oversee the preparation and delivery of accurate invoices to clients
- Track outstanding receivables and manage collection efforts
- Communicate with clients to resolve billing discrepancies and issues
- Develop and implement strategies to improve collection rates
- Maintain accurate records of billing and collections activities
- Assist with month-end closing and reconciliation processes
- Ensure compliance with company policies and relevant regulations
- Work closely with the finance team to forecast receivables
Qualifications
- Bachelor’s degree in Finance, Accounting, or related field
- 3-5 years of experience in billing and collections
- Strong understanding of financial principles and procedures
- Excellent analytical and problem-solving skills
- Proficiency in accounting software and MS Office Suite
- Exceptional communication and negotiation skills
- Ability to work independently and meet deadlines
- Detail-oriented with a high level of accuracy
Skills
- Advanced Excel skills
- ERP systems (e.g., SAP, Oracle)
- Accounts Receivable Management
- Data analysis
- Financial reporting
- Customer relationship management
- Time management
- Problem-solving
Frequently Asked Questions
A Billing & Collections Sr Associate is responsible for managing and overseeing billing processes and collections activities. They ensure invoices are accurately issued and payments are collected on time, helping to maintain optimal cash flow. Additionally, they handle account reconciliations, resolve billing discrepancies, and may collaborate with clients to address payment issues. These professionals also analyze financial data to improve efficiency and support compliance with regulations.
To become a Billing & Collections Sr Associate, candidates typically need a bachelor's degree in finance, accounting, or a related field. Relevant experience in billing, collections, or accounts receivable is also crucial. Strong analytical skills, attention to detail, and proficiency in accounting software are important. Certifications such as Certified Public Accountant (CPA) or Certified Credit and Collections Professional (CCCP) could be beneficial. Building a solid understanding of financial regulations and effective communication skills can enhance career prospects.
The average salary for a Billing & Collections Sr Associate varies based on factors such as location, industry, and experience. Typically, the salary for this role is competitive, reflecting their key responsibilities in maintaining cash flow and reducing delinquency risks. Employers may offer additional incentives, such as bonuses or benefits, to attract skilled professionals with expertise in financial management and collections strategies.
A Billing & Collections Sr Associate usually requires a bachelor's degree in finance, accounting, business administration, or a related area. Relevant work experience in billing, collections, or account management is essential. Proficiency in using accounting software, strong analytical skills, and an understanding of financial regulations are key qualifications. Additionally, certifications in accounting or finance can provide a competitive edge in the job market.
A Billing & Collections Sr Associate should possess skills in financial analysis, communication, and problem-solving. Responsibilities include managing billing functions, executing collections strategies, ensuring accurate account reconciliations, and negotiating payment terms with clients. They need to maintain detailed records, analyze outstanding debts, and support compliance with financial regulations. Strong attention to detail and IT proficiency, particularly in accounting software, are crucial for success in this role.