Collections Analyst 

New York, NY or Washington, DC

Summary

Responsible for daily functions of the firm-wide collection efforts, including conducting credit reviews for new and existing clients; inventory review and consultation with attorneys on payment status and efforts; contacting clients regarding payment; coordinating collection efforts with and through billing coordinators and other staff; developing and preparing collection and A/R related reports; maintaining validity and functionality of firm collection software and providing training to billing staff and others as needed; analyzing collection and A/R trends and providing forecasting and other analytics to provide recommendations to management.

Duties and Responsibilities

Primary

• Review collections status daily.  Evaluate inventory to identify primary areas of focus.
• Analyze payment performance.  Consult with attorneys and billing coordinators regarding payment status.  Maintain detailed records on collection efforts and status using current collections software.  Identify current and potential issues and alert attorneys and management to same.
• Contact assigned clients to obtain payment; coordinate with billing coordinators and other staff in collection efforts.
• Prepare monthly review of top delinquent A/R clients; prepare additional analysis and reports as needed.
• Conduct risk management assessments for new and existing clients.
• Monitor validity and functionality of the firm’s collection software, including serving as FS liaison with IT and providing training to colleagues as needed.
• Participate in the evaluation and implementation of new software.
• Analyze A/R and collections trends and provide forecasting and other analytics to provide recommendations to management.

Secondary

• Performs other duties as assigned

Working Conditions

• Job is performed in a typical office environment, but is subject to time pressures and constraints, and is often dependent on input from others.
• Long hours are required periodically.

Qualifications

Education

• Bachelor’s degree required, preferably in finance, accounting, or related area.

Experience

• Five years of progressive collections experience working in a professional services environment, preferably a law or accounting firm. Experience providing analysis and reports for Senior Management.

Special Knowledge

• Understanding of best practices in collections.  Knowledge of Fair Debt Collections Practices Act, Texas Collection laws and legal process preferred. Proficiency with Dunn and Bradstreet or similar risk assessment software preferred.

Technical Skills

• Proficient use of PC and knowledge of MS Office including proficiency in Excel. Experience with collections software.  Demonstrated ability to quickly master new technology and train others in its use.

Attributes

Inquisitive nature and demonstrated ability to think critically and solve problems. Strong negotiation and relationship management skills. Able to gather and analyze information skillfully. Provide excellent customer service. Plan and prioritize work effectively. Demonstrate analytical capacity and strong business/financial acumen including proactive assessment of needed process improvements and recommendation of resolutions.

Other Qualifications

• Able to maintain confidential information.