The Credit Recovery and Research Manager is responsible for overseeing and managing credit recovery and research processes for Inmar's hospital client base. This role involves developing and implementing strategies to optimize the recovery of outstanding credits, ensuring accurate financial reconciliations, and enhancing credit data. Must be a detail-oriented, highly organized, empathetic professional responsible for overseeing our Client Research team. This role requires someone who can remain calm under pressure, creatively solve problems, and develop and implement strategies to effectively manage and collect outstanding credits from manufacturers and wholesalers. The Credit Recovery and Research Manager must ensure collections activities are conducted in a manner that maintains positive customer relations while achieving organizational goals. Primary Accountabilities: Operational:
- Develop and implement effective collections strategies and procedures to maximize credit recovery while maintaining positive customer relations.
- Develop and implement effective client facing and internal reconciliation procedures.
- Oversee the day-to-day operations of the team, ensuring timely and accurate execution of procedures.
- Incorporate technology-driven solutions to automate and streamline operations
- Evaluate, recommend, and implement AI and other technological solutions to improve data accuracy, trending and credit cycle times.
- Collaborate with Product teams to develop new solutions based on client and market feedback.
- Monitor and report on key performance indicators (KPIs) related to credit recovery and team activities.
- Prepare and present reports to senior leadership, highlighting progress, challenges, and recommendations for action.
- Foster a collaborative and results-oriented work environment, encouraging continuous learning and professional growth within the team.
- Cultivate and maintain strong relationships with our hospital customers, contracted and non- contracted manufacturers, and wholesalers.
- Utilize excellent verbal and written communication skills to effectively negotiate and persuade customers to resolve outstanding credits.
- Maintain a strong knowledge of collections practices, laws, and regulations to ensure compliance.
- Ensure all records are accurate and up-to-date, documenting efforts, progress and successes.
- Identify and pursue opportunities to improve data quality and business processes.
- Exhibit exceptional organizational and time management skills, prioritizing tasks and handling multiple responsibilities simultaneously.
- Collaborates with other departments as needed for research or to resolve issues or answer questions.
- Other projects as needed by Inmar.
Analytical:
- Apply an analytical mindset to analyze data, identify trends, and make data-driven decisions.
- Collects, analyzes and reports data to support decisions on day-to-day operations, strategic planning and specific business performance issues
- Demonstrate strong problem-solving skills by thinking creatively and finding innovative solutions to challenges.
- Reduce recurring collections issues by performing root cause analyses to identify and implement cross functional process improvements.
- Utilize Microsoft Excel and other analytical tools to provide high-quality data analysis in order to support clients and internal stakeholders.
Leadership:
- Recruit and hire team members who can work independently and deliver high quality results consistently.
- Develop a team culture that emphasizes customer service, accountability, quality, continuous improvement, key employee retention and development, and high performance.
- Communicate effectively with team, peers, and leaders within the company.
- Provide training and mentoring of staff members.
- Establish Key Performance Indicators (KPI) to measure success of credit recovery and collection outcomes performed at the individual and team level.
- Demonstrate proven leadership skills by establishing, motivating and guiding a team to achieve targets and deadlines.
Required Qualifications: - Bachelor's Degree in Accounting, Finance or Business Administration
- 5-7 years of related work experience
- 3-5 years leading people
- Strong understanding of financial statements
- In-depth knowledge of credit management and financial reconciliation principles.
- Excellent analytical and problem-solving skills,
- Exceptional written and oral communication and interpersonal skills.
- Proficiency in financial analysis and reporting.
- Proficient in Salesforce, Microsoft Windows, Microsoft Office, Google Office Suite, Accounts Receivable software platform (Oracle preferred)
- Ability to work effectively in a fast-paced, dynamic environment.
- Advanced Excel skills (Macros)
- Propensity for continuous learning
Individual Competencies: - Communication: Giving and receiving messages and information in written, oral, and visual formats in a clear and concise way for a complete understanding of meaning and intent.
- Problem Solving: Gathers and analyzes information to generate and evaluate potential solutions to problems, issues and challenges while weighing the accuracy and relevance of the facts, data and information.
- Analytical & Critical Thinking: Ability to tackle a problem by using a logical, systematic, sequential approach.
- Curious:A desire to inquire and learn, to seek new knowledge and wisdom, and to listen to the contributions of others with a genuine interest to better self, the team, and the organization.
- Vision & Strategy: Takes a long-term view and builds a shared vision with others while positioning the organization for future success by identifying new opportunities, formulating objectives and priorities, and implementing plans consistent with the long-term interest of the organization in a global environment.
- Business Acumen:Understands and is aware of how to think about and successfully make the right business decisions through the utilization of industry-specific knowledge and skills and strategic thinking tools and skills.
- Problem Solving:Gathers and analyzes information to generate and evaluate potential solutions to problems, issues and challenges while weighing the accuracy and relevance of the facts, data and information.
- Collaboration:Works collaboratively with others to achieve group goals and objectives.
- Effective Execution: Translates broad conceptual understanding of the company's strategy into a tactical plan of how it will happen including who will take on which tasks in what sequence, how long those tasks will take, how much the tasks cost, and how each task affects subsequent activities.
- Coaching:Develops respect for ideas and proposals within the department.
- Change Management: Does not manage employees, but may mentor and/or train subordinates.
- Building Collaborative Teams: Develops, maintains, and reinforces alliances internally and externally to create a mutual benefit.
The physical demands described here are representative of those that must be met by an associate to successfully perform the major job responsibilities (essential functions) of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the major job responsibilities. This job description is not intended to be an exhaustive list of all duties, responsibilities, or qualifications associated with the job. While performing the duties of this job, the associate is:
- Regularly required to use hands to finger, handle or feel objects, tools or controls, and reach with hands or arms.
- Regularly required to talk or hear and read instructions on a computer monitor and/or printed on paper.
- Occasionally required to stand, kneel or stoop, and lift and/or move up to 25 pounds.
- Regularly required to view items at an extremely close range and must be able to adjust and readjust focus.
Safety: - Support a safe work environment by following safety rules and regulations and reporting all safety hazards.
As an Inmar Associate, you: - Put clients first and consistently display a positive attitude and behaviors that demonstrate an awareness and willingness to listen and respond to clients in order to meet their short-term and long-term needs, requirements and exceed their expectations.
- Treat clients and teammates with courtesy, consideration and tact; you also have the ability to perceive the needs of internal and external clients and communicate effectively with the objective of delighting and retaining the client.
- Build collaborative relationships and work cooperatively with others, inside and outside the organization, to accomplish objectives, develop and maintain mutually beneficial partnerships, leverage information and achieve results.
- Set and attain achievable, yet aggressive, goals with a sense of urgency and accountability.
- Understand that results are important and focus on turning mission into action to achieve results following the principles of Flawless Execution while consistently complying with quality, service and productivity standards to meet deadlines and exceed expectations by giving our clients the best possible outcome.
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We are an Equal Opportunity Employer, including disability/vets.