Collections

Job Description:

• Create and implement strategies to improve collection rates.
• Analyze accounts receivable data to identify trends and areas for improvement.
• Develop and enforce collection policies and procedures, standard across legal industry
• Contact clients to negotiate payment terms and resolve outstanding balances.
• Handle escalated collection issues and disputes.
• Maintain positive relationships with clients while ensuring timely payments.
• Prepare regular reports on collection activities, outstanding debts, and performance metrics.
• Analyze data to forecast collection trends and set goals.
• Recommend improvements to collection processes based on data analysis.
• Ensure all collection activities comply with relevant laws and regulations.
• Stay updated on changes in collection laws and industry best practices.
• Coordinate with legal departments for accounts requiring legal action.
• Ensure proper documentation of payment agreements and communication with clients.
• Participate in strategic planning and budgeting processes, providing financial expertise and analysis.
• Collaborate with Practice Leaders on the profit management of each practice area
• Assist with the implementation of a collection module like ARCS

Job Requirements:

Job Specifications:

• Bachelor’s degree or higher in finance, accounting, business administration or a related field.
• Minimum of 5 years of experience in collections, with a focus in legal.
• Detail-oriented team player with a "willing" attitude and excellent communication skills.
• Strong knowledge of legal billing procedures and regulations.
• Strong knowledge of legal cash collections and best practices.
• Strong analytical and problem-solving abilities.
• Experience working with ERP platforms and BI dashboards. Preferred experience with 3E, Iridium and ARCS.
• Able to effectively interact and communicate professionally with attorneys, clients, secretaries and staff.
• Able to work well both independently and within a team, possess a strong work ethic and function effectively in a fast-paced environment.
• Ability to work under pressure and meet tight deadlines.