Collection Officer

Role Purpose

Ensure the company achieves its financial goals and improve the cash flow by reducing the outstanding receivables.

Job Accountabilities & Activities

Collection operations
-Align with the leasing office on the various procedures that they need to be followed when the contract is signed
- Build good relationship with client finance team to speed up the collection process
- Review each account to determine the best way to approach the client, and then executing a plan for collection
-Extend collection efforts by calls, visits or sending periodic email reminders in professional manner while keeping and improving customer relations
-Conduct periodic reviews and devise a plan to improve the weekly collections
- Resolving customer billing problems and reducing accounts receivable delinquency
- Identify issues attributing to account delinquency and discuss them with management
- Ensure any corrections or adjustments are approved as per the authority matrix and reflected in the system in coordination with the accounting team.
- Co-ordinate with internal departments to align membership data & premium calculation to help the department get the premiums on time
- Reviewing open accounts for collection efforts.
- Coordinating with Accounts Department and following up payment status
- Ensure monthly statements are despatched to all customers and follow up on any queries arising, by reconciling customer accounts and maintaining accurate customer ledgers.
- Perform data cleansing on historical data to ensure accuracy and intercompany trading partner numbers on all transactions.
Reporting
- Assist in providing all AR audit schedules, VAT reports and other balance sheet schedules as required.
- Monitor invoicing and report on invoices delayed / missed.
- Inform stakeholders of the daily achievements to give visibility on any delinquencies
- Release a weekly report showing the efforts extended during the week
- Release a monthly report to the management to show the cash flow outlook and future collection plans

Education & Certifications

Bachelor's degree in Accounting, Finance or related field.

Required Years of Experience

Minimum of 3 years experience in relevant field.