The responsibility of the Credit Control Team is to secure payment in accordance with the Terms of Business and communicate on a monthly basis with all internal clients and build proactive relationships with external clients, working with them to ensure that the Team meet cash collection targets, reduce aged debt and ensure that disputes are followed up and resolved in a timely manner.
- To manage and minimise aged debt, across our Claims and LTA ledgers, whilst striving to achieve Weightmans monthly cash collection targets. Key focus being on debt 90 days or over.
- Working within a medium sized team, but being able to prioritise own portfolio of work throughout the month as well as adopting a collaborative approach with various teams across the business such as Legal Ops.
- It is essential that the successful candidate will have wide ranging current experience of dealing with major complex clients; this is an essential requirement of the position. Must have a good understanding of apportioned bills and be able to reconcile any discrepancies. The role will involve working as part of the Credit Control Team either on Commercial or Insurance accounts and closely with the Billing Team, ensuring both teams work as part of a tight knit unit on an ongoing basis.
- You will be required to gain knowledge of all billing requirements and key contacts for your portfolio of accounts, to ensure prompt payment and share the knowledge with your designated team colleagues - chasing debt will be a joint effort.
- Key to the role is prioritising your work throughout the month to most effectively hit debt reduction targets.
- Looking for better ways to work with the client to speed up the payment process of our bills.
- Acting as a main point of contact for all Credit Control queries on your portfolio of clients
- Chase overdue invoices by telephone, email & letter within agreed timescales
- Send out monthly client statements/letters
- Handle disputed bills and negotiate to bring payment within the agreed terms
- Provide accurate advice on billing queries and taking appropriate action
- Undertake account reconciliations as required
- Work confidently on own initiative and solve problems arising within department, reporting to Credit Manager as necessary
- Maintain accurate records of all chasing activity using the Accounts Receivable Collections System ( ARCS ).
- Meet monthly cash targets
- Meet monthly aged debt reduction targets
- Distribute monthly reports to fee earners, keeping them informed of aged debt.
- Understanding of SAR rules on moving client account monies to clear Bills.
- Regular meetings with Fee Earners to ensure all debts are managed and kept to an absolute minimum
- Maintain confidence of fee earners and Partners through positive results
- There may be a requirement to visit other offices
- Participate in all Team Rota jobs
This list is not intended to be exhaustive and you will be expected to perform other duties and have other responsibilities that fall within the wider remit of the role. |
