AR Team Lead Summary
A CRG client in the High Point, Greensboro, NC area is looking for an AR Team Lead to join their growing team. This role will identify opportunities for process improvements increasing efficiency, standardizing systems, and reducing cost. Serve as lead for training and problem resolution. Secure payment for highly complicated accounts by recording tenant payments in an accurate and timely manner. Ensure all account balances are accurate through continual review and reconciliation. Assist the Accounts Receivable Manager with bankruptcy schedules, training new employees and other tasks/projects as needed.
AR Team Lead Compensation
- $55,000 Salary
AR Team Lead Duties
- Work closely with AR leadership to drive standardization and automation.
- Assist in implementing accounts receivable automation projects to promote better efficiency by reducing manual transactions.
- Identify trends, patterns, processes and strategic opportunities that will improve invoice submissions quicker and more accurate.
- Identify and help implement process improvements within the A/R Team.
- Assist implementation and testing of new programs, processes, and upgrades as necessary.
- Participate in new pilot projects and work towards proper transition of knowledge to team.
- Cross-train team members to ensure standardization of processes.
- Handle ad hoc projects and analysis related to accounts receivable.
- Run billing statements to determine status of accounts and follow up with tenants with past due balances. Determine reason for late payment and get commitment for payment date. Continue to follow up with tenants until account is brought current.
- Provide requested documentation on special charges if needed.
- Notify A/R Manager of tenants with financial problems; refer delinquent accounts to A/R Manager
- Aggressively pursue any portion of outstanding balances after account is 10 days past due.
- Breakout and identify areas not in question such as billboard charges, special tenant expenses, percent rents and aggressively pursue payment piece by piece if necessary.
- Participate in monthly default meetings, identifying tenants to be put in default. Process Notice of Default letters and record defaulted accounts on the Legal Default Summary spreadsheet. Monitor tenants placed in default until default cure date has elapsed. Inform A/R Manager of any uncured defaults.
- If applicable, manage temporary tenant accounts.
- Prepare for monthly temporary tenant collections meetings by anticipating issues that might arise.
- Update the AR Demands Summary spreadsheet to reflect the status of all Legal demands sent as well as updated for any “To Do” items identified during the monthly temp meeting.
- Distribution appropriate reports to meeting attendees.
- Process transfers or refunds of security deposits as needed.
- Send Percentage Rent Reminder Memo as needed.
- Send Rent & Sales reminder emails as needed.
- Advise upper management of team workflow concerns in order to increase output.
- Provide backup support to A/R Manger as needed.
- Work with management to resolve any personnel concerns and/or conflicts.
- Record store openings and closings on the Review Log and notify the A/R Manager of any SOX deadlines that are imminent.
- Provide assistance to Operations for all contract and vending inquiries.
- Daily review CashPro Accelerate and Bank of America Data Summary Report to ensure all tenant related transactions are accounted for and in balance. Work closely with the AR Team to ensure non-sufficient funds bank notifications are posted in CM timely.
- Work closely with Finance and Bank to resolve any deposit issues for lockboxes and local and center deposits; audit Remote Deposit Check Log to ensure all cash receipts have been posted; work closely with Property Accountants to reconcile bank statements monthly; work closely with VP/Controller to ensure completeness of inter-company transactions recorded in the general ledger and year end cash receipts with auditors.
- Work closely with the A/R Manager to produce account adjustments to bankrupt tenants, create and maintain Pre-petition worksheets and rejection damages worksheets with appropriate backup. Scan internal and court generated documents, claims filed, distributions received, and any other bankruptcy related documents as required into Laserfiche.
- Perform Cash Posting audit as requested by the A/R Manager.
- Provide assistance to the A/R Manager in the training of new employees, updating the Accounts Receivable Manual, reconciling sold properties, and any other tasks/projects as the need arises.
- Prepare for and contribute to AR team meetings.
- Work closely with the A/R Manager and AVP Financial Planning & Analysis to reconcile sold properties to ensure funds are accurately recorded and forwarded to new Landlords.
- Provide assistance to Lease Accountants for annual reconciliation billings and other special projects as needed.
- Input daily deposits and post to tenant accounts. Verify batch control totals agree to the deposit total.
- Record any unclear items to income category PPD. Follow up with the tenant regularly until an adjustment has been made to the tenant’s account reflecting proper detailed posting of the tenant’s check.
- Review and audit accounts with large outstanding balances to verify billing amounts are accurate per the lease on a monthly basis.
- Review, respond and reconcile tenants’ accounts as questions arise due to misapplication of payments or credits, billing disputes that fall within the parameters of training provided, etc.
- Document and file reconciliations and responses to tenants. Keep A/R Manager apprised of reconciliations in process.
- Track unpaid amounts greater than $500 for Annual Recovery and Estimate Reconciliation billings. Update spreadsheet appropriately and continuing until all amounts are collected. Monitor the Reconciliations in Progress workbook and work closely with Lease Accounting team to ensure timely resolution of disputed amounts.
- Prepare tenant adjustment forms as required to correct tenants’ accounts. Upon approval, input the adjustment if it is within the scope of approved data entry for AR Specialists. Otherwise, forward to appropriate Lease Accountant for input. In all cases, forward the input adjustment to management for approval and posting. Follow up on posted adjustment to ensure that tenant is advised of all changes on their accounts.
AR Team Lead Qualifications
- 5+ years of AR experience required
- Ability to apply understanding project lifecycle with a high emphasis on quality of output
- Strong Excel skills
- Ability to build relationships to increase performance, team cohesion and engagement.
- Ability to lead a team
- Keen eye for process and quality improvement
- Display a positive and proactive attitude
- Strong organizational skills with ability to prioritize and multitask
- Strong communicator, both through email and over the phone
- Knowledge of internal control procedures to protect and safeguard departmental assets and resources.
- Previous ERP implementation experience is a plus