Bad Debt Specialist

Company Description

Vericast is a premier marketing solutions company that accelerates profitable revenue growth for the thousands of businesses it serves directly by influencing consumer purchasing and transaction behavior at scale while engaging with over 120 million households daily.  We are recognized as leading providers of incentives, advertising, marketing services, transaction solutions, customer data and cross-channel campaign management, and intelligent media delivery that create millions of customer touch points annually for their clients.  For more information, visit http://www.vericast.com or follow Vericast on LinkedIn.

Job Description

The Bad Debt Specialist position will support Finance Shared Services within the Bill to Cash Area for all Bad Debt related activity and may assist with bankruptcy related matters and other court related legal matters. This position will also be responsible for oversight and collections of our most complex client accounts that require special handling with regards to collection efforts including structuring payment plans and working with third party collections agencies and legal to resolve payment related issues.

This is a hybrid position, so we are looking for candidates who are comfortable and available to come in to our office at 15955 La Cantera Pkwy San Antonio, TX 78256 ~3 days per week (Tuesday, Wednesday, Thursday). Mondays and Fridays are work from home.

KEY DUTIES/RESPONSIBILITIES

• Oversight of High Risk and Payment issue accounts as well as Bad Debt matters: Handle all payment issues where the collector has exhausted all methods. This position works directly with the client in negotiating payment arrangements, payment plans as well as settlements as needed to minimize bad debt expense
• Work with the collectors to resolve missing/open items to ensure the successful collections of the debt by our 3rd party vendors.
• Document/reconcile all 3rd party collections activities including comprehensive analysis of the clients and their specific attributes, i.e. payment methods, products, categories, etc. In order to facilitate early identification of newly arising high risk trends.
• Process, code and document all 3rd party agency fees and recoveries
• Work closely with the 3rd party agencies to provide prompt follow-up to any open issues they may have up to and including resolving disputes or providing legal documentation
• Once all collection attempts have failed this position will work with 3rd party collections efforts or legal as deemed appropriate. If this has failed to produce results the bad debt specialist will then prepare and review the bad debt folders submitted by other collections to ensure that all necessary information In included
• This position may handle bankruptcy research, paperwork, creditor meetings, and preference action claims for bankruptcies.. This position will document and provide support for our defense working with legal to support our case
• Work closely with AR Leadership to ensure required AR and GL balancing is reconciled and properly documents
• Be single point of contact to research and respond to all legal inquiries for the collections team
• Ensure that all bad debts related process documentation is always updated to reflect current process
• Responsible for account management activities: Contact clients for payment information on past due invoices. Identify and resolve problems/issues/inconsistencies/short payments, determining appropriate corrective actions
• Prepare specialized and customized invoicing recaps to satisfy the client’s individual needs and to secure payment.
• Prepare and submit paperwork (money moves, prebill reversals, adjustments, etc.) on a timely basis to ensure that trial balance is always scrubbed and clean
• Research and, where appropriate, submit refund requests for overpayments o Maintain a systematic follow up and collection of receivables
• Timely and accurately update and record all notable client/account information
• Respond to all emails and voice inquiries in a timely and courteous fashion
• Prepare and submit client-specific reports to Management as requested
• Communicate between Collectors to work towards resolution on mutual clients with escalated payment issues
• Analyze and properly identify the root of cause of disconnects that delay payments. Know where to direct inquiries for which you may not be knowledgeable and escalate as appropriate to facilitate prompt resolution
• Oversight of High Risk and Sensitive accounts
• Research and resolve client issues including skipped invoices
• Ensure all high risk client accounts are addressed
• Document all rel