The Accounts Receivable Operations Manager position is a pivotal role supporting the US Hearing Aid and Buying Group Business Units with over $500M in revenue and average accounts receivable of $100M. This role is integral as it oversees the credit evaluation of new and existing customers, customer collections, cash application and customer interaction while minimizing financial risk. This role directly leads a team of 11 professionals (5 direct reports/6 indirect reports).

Extensive experience with credit analysis and collections, proficiency with accounting software, high-level analytical skills, strong leadership and managerial skills, and customer experience mindset.

This position requires working a hybrid schedule (Tuesday/Thursday onsite in Somerset, NJ).

• Formalize and implement processes and procedures around evaluation and assignment of credit, cash application, bad debt calculation and review, and collections.
• Review roles and responsibilities of the Accounts Receivable department, identifying opportunities for improvement in processes, automation, and resource allocations.
• Manage the Accounts Receivable monthly closing process, including the calculation of reserves, account reconciliations, and A/R dashboard reporting.
• Coordinate and deliver Accounts Receivable requirements in connection with the Company’s annual financial statement audit.
• Establish internal goals, KPI’s and/or metrics to monitor performance and manage financial risk.
• Provide senior management with consistent reporting and establish meetings with key managers to further discuss results.
• Responsible for the application of the Company’s Credit, Bad Debt and Cash application policies.
• Recruit, hire, train, motivate and evaluate staff members within the Accounts Receivable department.

Credit Management

• Evaluate credit risks for new and existing accounts.
• Approve or reject credit requests based on credibility and potential revenues and losses.
• Lead the review and management of US customer loan program as it relates to credit reviews, credit history and A/R management.
• Create and implement strategies to increase successful collections on outstanding receivables and drive down DSO.Interact with legal and agencies around accounts placed in collections.
• Review, recommend and implement credit policies and procedures that maintain the aligning with commercial to avoid commercial disruption, excessive credit limits, and minimize overall financial risk.
• Lead monthly calls with the businesses to review A/R aging, DSO, problem accounts, and working with the commercial team and customers to decrease overdue A/R.
• Oversee the application of cash, minimizing unapplied cash.
• Identify and lead action-oriented discussions on problem accounts with key Finance and Business Managers to implement and limit financial risk.

Collections Management

• Evaluate the effectiveness of the Company’s collection strategy and identifying opportunities to minimize bad debt write-offs and increase DSO.
• Identify and lead action-oriented discussions on problem accounts with key Finance and Business Managers to implement and limit financial risk.
• Oversee the application of cash, minimizing unapplied cash.
• Lead monthly calls with the businesses to review A/R aging, DSO, problem accounts, and working with the commercial team and customers to decrease overdue A/, aligning with commercial to avoid commercial disruption, excessive credit limits, and minimize overall financial risk.
• Communicate with customers to build and maintain a strong working relationship and ensure that Demant is “easy to work with” from an internal and external customer perspective.
• Interact with legal and agencies around accounts placed in collections.
• Create and implement strategies to increase successful collections on outstanding receivables and drive down DSO.

• Bachelor’s Degree in Accounting, Finance or Business Administration Required.
• 5+ years of Accounts Receivable, Credit and Collections experience. Track record of success in building, coaching and developing teams. Abilility to identify what the team needs.
• Advanced technology skills with experience with Microsoft Office tools, different ERP systems, banking systems, online invoicing systems and other cash and collections software.
• Excellent written and verbal communication skills.
• Demonstrated leadership in developing strong relationships with customers, team members, leaders, and business partners.
• Highly engaged with a strong commitment to developing team members and fostering a high performing team mindset

The Company is an Equal Opportunity / Affirmative Action employer, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or protected veteran status.

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