Senior Accounts Receivable, Deductions Specialist

Role Overview

• The Sr. Accounts Receivable & Deduction Specialist is responsible for the full accounting life cycle management of a specific portfolio of customers and the day-to-day operations of the Accounts Receivable & Deduction department.
• This role will manage the deduction process, ensure timely posting of customer payments, follow-up on past due invoices and provide detailed analysis of all deductions to ensure accurate and timely reconciliation and resolution.
• Participate in supporting special departmental initiatives and projects when assigned.
• Cash application: Manages daily cash receipts, retrieves lockbox deposits and ACH/EFT reports; creates electronic files and performs cash application.
• Maintain tracking files and make updates daily.
• Collaborates with the Treasury group to reconcile the general ledger and bank accounts.
• Responsible for deduction research and clearing in a timely manner: Assess open Debit Memo’s ensuring consistent, timely & accurate reporting and reconciliation.
• Monitors customer-based websites to obtain deduction and payment documentation.
• Utilizes EDI platform to retrieve remittance details and solve invoicing issues.
• Prepare and process broker check requests, maintaining files and preventing deductions from occurring by processing check requests timely.
• Follow guidelines for proper escalation of unresolved items.
• Establish relationships cross-functionally and with Customers / Brokers to maintain a steadfast focus on achieving goals and meeting Key Performance Indicator (KPI) targets.
• Provides internal support cross-functionally regarding deals that can be closed or remain open due to unresolved deduction balances. Utilize trade management tool.
• Monitor customer accounts, identifying past-due payments. Follow up with customers on past-due invoices via phone and/or email. Manage collection efforts. Maintain detailed records of collection activities, including communication of payment arrangements, and any actions taken.
• Investigate and resolve customer inquiries, deductions, billing disputes and/or past due invoices. File claims for all invalid deductions. Handle unique or complex billing scenarios.
• Value added and action-oriented collaboration cross-functionally to Inform others of any specific issues or trends.
• Verify the creditworthiness of customers, setting credit limits, and monitoring accounts. Prepare audit files (external, internal and tax) and month-end / fiscal year analyses.
• All other duties & special projects as assigned by direct manager or senior management.

Requirements

• High School Diploma or equivalent required; Some accounting college coursework is preferred.
• 10+ years of related AR experience required.
• 5+ years related experience in a CPG deduction/collection role, analyzing and reconciling items such as: Trade/Billbacks, Shortages, Logistic Penalties, Spoils and/or other AR deduction miscellaneous items.
• Experience working with Trade Fund/Promotion Management tools preferred.
• Highly proficient technology skills including ERP SAP ECC [or SAP HANA S4] systems, EDI and Microsoft Suite [specifically Excel, Word, and Power Point].
• Ability to work independently and as part of a team; Strong organizational and time management skills.
• Flexibility and adaptability: Readiness to adapt to different workflows, communication styles, and priorities as needed to effectively collaborate with various departments and external entities.
• Possesses high credibility, integrity, and adaptability: Effective in establishing rapport and building productive relationships with team members and cross-functional partners.
• Demonstrates professionalism & excellent interpersonal and communication skills (written and verbal).

Tech Stack

• ERP

Benefits

• PTO and Medical, Dental and Vision Benefits from Day 1
• 401k Match
• Bonus Opportunity: 7%