The AR Reconciliation Specialist plays a critical role in ensuring the accuracy, integrity, and completeness of 2022 and prior outstanding Accounts Receivable balances. This position involves identifying, investigating, and resolving discrepancies across accounts, ledgers, and financial records, with a strong focus on reconciling historical balances. In addition to these responsibilities, the specialist will be managing the Account Reconciliation Associate, providing guidance and oversight to ensure accurate and timely completion of reconciliation tasks.
Duties and Responsibilities
AR Confirmation:
-Conduct reviews and confirmation of 2022 and prior outstanding Accounts Receivable balances.
-Communicate with clients to confirm outstanding balances, ensuring accuracy and resolving discrepancies.
-Maintain a systematic approach to AR confirmation to meet established timelines.
Reconciliation:
-Perform periodic reconciliation of 2022 and prior outstanding AR records to ensure accuracy and completeness.
-Investigate and resolve variances between AR records and customer accounts.
-Collaborate with internal teams to address and rectify reconciliation discrepancies.
-Retrieve and verify invoices that match the client's request, ensuring accuracy and consistency with the company's 2022 and prior AR records
Documentation and Reporting:
-Maintain detailed records of AR confirmation and reconciliation activities.
-Generate reports summarizing AR status, variances, and resolution actions.
-Provide regular updates to the management team on the status of 2022 and prior AR accounts.
Team Leadership and Target Management:
-Supervise and manage a team of associates handling AR confirmation and reconciliation tasks
-Ensure associates are meeting deadlines, targets, and maintaining the quality of work in line with the established standards.
-Provide guidance, mentorship, and performance feedback to associates to enhance their skills and productivity.
-Monitor team performance and take proactive measures to address any issues that may hinder meeting targets.
Relationship Management:
-Cultivate positive relationships with clients to facilitate smooth AR confirmation processes.
-Collaborate with internal and external stakeholders to address issues and improve AR processes.
Background and Qualifications
- Proven experience as a Reconciliation Specialist or in a similar role.
- Strong understanding of Billing and Collection processes and reconciliation principles.
- Excellent communication, negotiation, and interpersonal skills.
- Strong attention to detail and organizational skills.
- Proficient in using accounting software (NetSuite is a plus)
- Ability to analyze and interpret financial data related to accounts receivable
- Prior experience in managing or leading a team is a plus