Job Description
The BUSINESS ANALYST, CREDIT & COLLECTIONS, prepares and submits both regular and ad hoc client financial reporting to management accurately and on a timely basis, works directly with internal and external partners to evaluate various payment resolution issues and ensure customers receive satisfactory resolution. This position works directly with the client in negotiating payment arrangements, payment plans as well as settlements as needed to minimize bad debt expense. The Business Analyst, Credit & Collections will also handle all preference action claims for all bankruptcies. This is a critical function as these claims can be for millions of dollars and it will be the responsibility of this role to document and provide assistance to our defense working with legal to aid in our case.
KEY DUTIES/RESPONSIBILITIES
• ISSUE RESOLUTION/PROCESS IMPROVEMENT: Accountable for all complex payment resolution issues (incorrect client on-boarding, rates, etc.) involving internal and external partners (Invoice Services, Client Services, Sales, Clients) o Risk assessment and identify process improvements recommendations that will gain efficiencies o Communicate with Director and VP level leaders across all functions o Prepare and submit both regular and ad hoc client financial reports to management accurately and on a timely basis o Become Team Subject Matter Expert – both user and report writer o Represent Collections as expert SME on any technology related projects. Define requirements, test results, document changes and train team members o Ensure audit narratives reflect latest process steps o Complete all special projects as required (70%)
• COLLECTIONS ACTIVITIES: Contact clients to obtain payment information o Discuss findings/recommendations with Collections management o Respond to all emails and voice inquiries professionally and promptly o Adhere to established schedule o Process payments as necessary o Conduct regular back-end calls to collect delinquent A/R accounts o Documents collection efforts in ERP notes screens to include payer contacts, phone numbers, issues, actions taken, etc. o Compile, research, address, and present weekly Top Client Reviews for Collections management o Maintains DSO at an acceptable level o Process refunds and money moves if needed o Send final demand letters and work extensively to prevent losses to bad debt (10%)
• BAD DEBT: Handle all payment issues where the collector has exhausted all methods o Work with the collectors to resolve missing/open items to ensure the successful collections of the debt by our 3rd party vendors o Document/reconcile all 3rd party collections activities including comprehensive analysis of the clients and their specific attributes, i.e. payment methods, products, categories, etc. in order to facilitate early identification of newly arising high risk trends o Process, code, and document all 3rd party agency fees and recoveries o Work closely with the 3rd party agencies to provide prompt follow-up to any open issues they may have up to and including resolving disputes or providing legal documentation o Once all collection attempts have failed this position will work with 3rd party collections efforts or legal as deemed appropriate. If this has failed to produce results, the bad debt specialist will then prepare and review the bad debt folders submitted by other collections to ensure that all necessary information is included (10%)
• SYSTEM INTERACTION: Participate in company projects, as well as any of the company initiatives related to Collections o Accurately complete all special projects in a timely manner (10%)
Qualifications
Additional Information
WHAT'S IN IT FOR YOU? Vericast offers a generous total rewards benefits package that includes medical, dental and vision coverage, 401K matching and . A wide variety of additional benefits like life insurance, employee assistance and pet insurance are also available, not to mention smart and friendly coworkers!
At Vericast, we don’t just accept differences - we celebrate them, we support them, and we thrive on them for the benefit of our employees, our clients and our community. Vericast considers applicants for all positions without regard to race, color, creed, religion, national origin or ancestry, sex, sexual orientation, gender identity, age, disability, genetic information, veteran status, or any other classifications protected by law. In addition, Vericast will provide reasonable accommodations for qualified individuals with disabilities by contacting us at: recruiting@valassis.com. EEO is the law. To review your rights under Equal Employment Opportunity please visit: www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf.
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