Job Description Job Description: ? The Collection Specialist is mainly responsible for chasing outstanding/delinquent invoices to the company and plays a vital role in the cash-flow of the organization ensuring credit given to customers is monitored and controlled effectively.
Chasing debt by telephone and email to reduce debtor days (DSO) & past due amount. Ensure timely follow up delinquent outstanding accounts receivable with customer, Sales team & Operation team.
Working with Cash Application team on the allocations of payments in accordance with customer remittances & liaise with customers or Sales team for those unidentified payments to be allocated.
Processing and generating reminder letters and monthly statements. Follow the escalation process, where timely escalate to the relevant parties & work closely with the Legal team on legal cases for debt recovery. A monthly updated Statement of Accounts must be sent to customers.
Liaising with the Sales & other OTC functional teams to resolve outstanding queries. To issue credit memo requests form with proper approval obtained before send to the Billing team for credit note creation. Investigating and resolving queries relating to non-payment of the invoice. To look for the invoice requested & send it to a customer when the customer requesting a copy of the invoice. Ensuring that all customer accounts work to agreed order to cash cycle/process/policies.
Daily, weekly and month-end reporting and accounts reconciliations. To ensure collection report is timely updated with a collection plan, follow up action & escalation process (weekly Top 25 customer report & Global Collection Report). To reconcile our accounts receivable with customer?s accounts in order to minimize/avoid disputed invoices with customer?s accounts.
Working to strict monthly and annual collections targets. Accuracy of quarterly collection forecast must be 90% accuracy as compared to actual collection.?
Liaise with customer, Cash Application team & our Accounts Payable team on netting arrangement. To issue netting agreement with the sign off from our Accounts Payable team & customer, plus to ensure strictly follow netting processes & controls.
Working with accounting team on bad debt provision/reserve & follow company bad debt provision policy. To propose bad debt to be written off with reasonable debt recovery steps by strictly follow local accounting systems/regulations.
All collections communication emails or files must be kept into collection generic mailbox (Collections.APAC) or collection share folder.
Requirements
Candidate must possess at least a Bachelor's Degree/Post-Graduate Diploma/Professional Degree in Finance/Accountancy/Banking or equivalent.
At least 2 Year(s) of working experience in the related field is required for this position.
Preferably Executive specialized in Finance - General/Cost Accounting or equivalent.
