Collections Manager
Sompo has a unique opportunity for a Collections Manager to join our team. This role will be responsible for leading and managing our Accounts Receivable (AR) operations within the Insurance sector. This role will oversee a team of collections professionals and will be responsible for driving operational excellence, ensuring timely collections, institute and monitoring productivity metrics, and implementing continuous improvement initiatives. Proficiency in SAP and prior experience in managing AR processes are essential for success in this role.
Location : This position will be based out of our Charlotte, NC office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.
Our business, your impact, our opportunity : What you'll be doing :
Leadership & Team Management :
- Lead, mentor, and motivate a team of collections professionals, fostering a culture of accountability, collaboration, and continuous improvement.
- Develop and execute training programs to enhance team skills and productivity.
- Set clear performance goals, conduct regular evaluations, and provide constructive feedback.
Accounts Receivable & Collections Management :
Oversee the full-cycle collections process, ensuring timely and accurate collection of receivables.Monitor AR aging reports and implement strategies to minimize overdue accounts and reduce Days Sales Outstanding (DSO).Resolve escalated disputes and work with internal and external stakeholders to address payment delays.Productivity Metrics & Performance Monitoring :
Develop and implement key productivity metrics to track team performance, such as call volumes, collection rates, and resolution times.Monitor and analyze team productivity metrics regularly, identifying trends, gaps, and opportunities for improvement.Use data-driven insights to set performance benchmarks and ensure team alignment with organizational goals.Process Optimization & Continuous Improvement :
Analyze current AR and collections processes to identify inefficiencies and implement improvement initiatives.Leverage data-driven insights to optimize workflows and enhance operational effectiveness.Collaborate with cross-functional teams to align collections strategies with broader organizational goals.ERP System Utilization (SAP) :
Effectively utilize SAP for managing AR processes, reporting, and data analysis.Ensure data accuracy and consistency within the ERP system.Act as a subject matter expert for SAP-related AR and collections functionalities.Compliance & Reporting :
Ensure compliance with internal policies, industry regulations, and legal requirements.Prepare and present regular reports on collections performance, AR trends, productivity metrics, and improvement initiatives to senior management.Develop and maintain standard operating procedures (SOPs) for collections activities.What you'll bring :
Education : Bachelor's degree in Finance, Accounting, Business Administration, or a related field. A master's degree or professional certification (e.g., CPA, CMA) is a plus.Experience :Minimum of 58 years of experience in Accounts Receivable, with at least 3 years in a leadership or managerial role.Proven track record of managing a team in a fast-paced environment.Experience in the Insurance industry or a similar financial services sector is highly desirable.Technical Skills :Proficiency in SAP for AR management and reporting.At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs :
Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contributionPharmacy benefits with mail order optionsDental benefits including orthodontia benefits for adults and childrenVision benefitsHealth Care & Dependent Care Flexible Spending AccountsCompany-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & childrenCompany-paid Disability benefits with very competitive salary continuation payments401(k) Retirement Savings Plan with competitive employer contributionsCompetitive paid-time-off programs, including company-paid holidaysCompetitive Parental Leave Benefits & Adoption Assistance programEmployee Assistance ProgramTax-Free Commuter BenefitTuition Reimbursement & Professional Qualification benefitsIn today's world, what do we stand for?
Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise.
Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone's unique contributions we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.