The Collections Analyst will assist in managing day-to-day collections operations for firm partners and will establish and maintain a system of monitoring and encouraging cash receipts. This involves getting all billing admins and Billing Attorneys to focus on collections, to include follow- up.
Location: Remote
Shift: Mon-Fri, 10am - 7pm
Job duties
(* denotes an “essential function”)
- *Responsible for monitoring and collection of outstanding invoices through direct contact and follow-up with each partner and client as assigned and pursuant to firm policy to ensure timely remittance.
- *Generate and/or revise monthly client reminder statements as outlined pursuant to firm policy and departmental procedures.
- *Provide reports reflecting accounts receivable analyses, DSO, potential and existing bad debt reserves, agreed upon metrics and key performance indicators based on established frequency or as requested.
- *Provide budgeting, forecasting and ad hoc reporting specific to client needs, including participating in meetings with firm management.
- *Work closely with senior management and report on daily activities to resolve issues before they impact collections results.
- *Create estimates of projected collections and adhere to client deadlines; provide rolling updates regularly throughout the month.
- *Prepare documents for write-off of accounts receivable adhering to the firm’s approval policy.
- *Assist in transitioning matters handled by departing attorneys to other attorneys of the Firm; determine which matters are inactive to facilitate matters to be closed where appropriate; work with the departed attorney to collect open invoices.
- *Research and monitor unapplied payments.
- *Monitor payment arrangements to ensure compliance with payment terms.
- Develop strong working relationships with assigned Partners to provide best in class customer service support for all related client collection needs.
- Identify problems or issues in processes and implement solutions bringing bottom line results.
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Meet or exceed all assigned deadlines.
- The daily make-up of tasks for this position may vary depending on the client or department’s needs.
Working conditions
- Position operates at sites with maximum of 24/7 operations. Individual shift requirements will vary by site.
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Ability to work overtime as needed.
- Work is performed in a professional work environment and/or work from home setting.
- Business casual and/or professional attire required.
- Associate Degree or advanced degree preferred with concentration in Business, Accounting, or Finance. Commensurate experience may be considered in lieu of education, based upon candidate’s overall employment history
- 2 or more years hands-on collections experience preferably in a law firm environment or professional services industry
- Ability to provide high level of customer service in a fast-paced environment
- Ability to handle a high volume of tasks maintaining attention to detail and prioritizing as necessary
- Ability to keep up with a fast-paced environment with keen insight in prioritizing to achieve firm collections targets and goals
- Excellent organizational, interpersonal and communication skills, and ability to work with all levels of personnel within the firm, including Managers, Directors, and Chiefs
- Advance proficiency with pivot tables and ability to analyze numbers within complex spreadsheets
- Excellent time and task management skills
- ARCS, Star Collect, Aderant, Elite or Legal Billing System experience preferred
- Must be resourceful in developing alternative solutions and meeting deadlines in a real time, fast paced environment
Supervision
- Number and title(s) of direct reports (if any): N/A
- Received: Financial Support Service Manager, Financial Support Services Supervisor, Account Manager, or Account Supervisor
Job relationships
- Internal: This position works closely with the Financi