Head of collections

2 weeks ago

Pune, India Stuba Full time
Job Title: Head of Accounts Receivable
Job Summary:
We are seeking a dynamic and experienced candidate to join our Stuba Finance team in the pivotal role of “Head of Accounts Receivable (AR) and Accounts Payable (AP)” reporting into the Finance Director.
The most critical part of this role in terms of company’s profitability, is protecting the company’s credit exposure by ensuring it is within the approved company limits.
The responsibilities are focused on the inflow and outflow of funds, ensuring accurate and timely processing of transactions, and maintaining strong relationships with both customers and suppliers who are international (over 90% outside India) along with excellent internal collaboration with the regional heads of the sales, customer service team and commercial team. The Finance Director requires complete transparency to action any issues that reach escalation and will be remote from this role as based in UAE. Processes and policies should be challenged and optimized to ensure continuous improvement of efficiency.
The successful candidate must have extremely strong communication skills in both spoken and written English. Must work well remotely with international cultures and personalities and provide strong leadership to their teams including setting clear objectives, measuring productivity against established metrics and providing support and motivation to the team when adapting to changes due to working in a fast-paced environment
Qualifications:
Bachelor's degree in accounting, Finance, Business Administration, or related field.
Proven experience (5+ years) in accounts receivable management or related financial role, preferably in a corporate environment.
Strong understanding of accounting principles and AR/AP processes.
Proficiency in accounting software and Microsoft Excel.
Excellent analytical and problem-solving skills, with the ability to analyze complex data and draw meaningful insights.
Strong attention to detail and accuracy in data entry and record-keeping.
Excellent communication and interpersonal skills, with the ability to interact effectively with internal and external stakeholders.
Leadership experience, with the ability to motivate and develop a team.
Ability to prioritize tasks and manage multiple deadlines in a fast-paced environment.
Knowledge of relevant regulations and compliance requirements related to accounts receivable and accounts payable.
Accounts Receivable Regional led – responsible for a team an AR team lead who has a team of 7
Manage the end-to-end accounts receivable process, including invoicing, billing, collections, and cash application
Invoicing and Billing:
Oversee the invoicing process to ensure accurate and timely generation of invoices provided to customers.
Report and escalate any overdue invoices with the Customer, Regional Head of sales and Finance director within timelines and procedures of the company policy.
Credit Management:
Establish and maintain credit policies to evaluate the creditworthiness of customers and determine appropriate credit limits within the company policies.
Monitor customer payment behavior and assess the risk of delinquency or bad debt.
Coordinate with sales and customer service teams to resolve disputes and address customer concerns.
Monitor and manage exposure within the companies’ approved limits.
Cash Application and Reconciliation:
Ensure accuracy and completeness of cash application processes to maintain the integrity of financial records and management of exposure of the company.
Collections Management:
Develop and implement collection strategies to reduce accounts receivable aging and improve cash flow.
Monitor collection efforts and escalate overdue accounts for further action, such as collections agencies or legal proceedings if necessary.
Analyze collection trends and identify opportunities for process improvements to streamline collection activities.
Credit insurance:
Manage communication to the Group parent company for applications for credit insurance.
Analyze, review and report the insurance facility and identify opportunities to increase sales by the way of offering insurance.
Reporting and Analysis:
Prepare regular reports and analysis on accounts receivable aging, cash collections, and bad debt reserves including the below
Weekly AR review summarizing exposure, overdue debts and escalations.
Monthly reporting on method of payments by customers and payment gateways. Analyze and identify any optimization to maximise profit for the company and Customer experience including failure rates, gateway fees etc.
Monthly reporting on aged debt to group, identifying opportunities for improvements to reduce this.
Accounts Payable (AP): Responsible for an AP team lead who has a team of 2
Manage the end-to-end accounts payable process, including statement receipt, approval, and payment processing
Invoice Processing:
Oversee the processing of supplier statements, ensuring accuracy, completeness, and compliance with system and contract.
Implement efficient workflows and controls to streamline the invoice approval process and minimize processing times.
Supplier Management:
Manage relationships with suppliers to address inquiries and resolve issues related to invoice discrepancies, pricing disputes, or payment delays.
Payment Processing:
Coordinate payment approvals and ensure suppliers are paid within contractual terms.
Compliance and Controls:
Establish and enforce controls and procedures to prevent fraud, errors, and duplicate payments in the accounts payable process.
Ensure compliance with regulatory requirements and internal policies related to accounts payable.
Reporting and Analysis:
Prepare and submit reports on accounts payable aging and payment forecasts to support financial planning and analysis.
Analyze supplier payment trends, identify opportunities for cost savings or process improvements, and provide recommendations to management.
Analyze credit requirements and liaise with the Stuba Commercial team and FD to propose credit required if current credit limit is insufficient.

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