Senior Manager, Cash Application & Collections

About Us:

Stericycle is a U.S. based business-to-business services company and leading provider of compliance-based solutions that protect people and brands, promote health and well-being, and safeguard the environment. Since our founding over 30 years ago, we have grown from a small start-up in medical waste management into a leader across a range of increasingly complex and highly regulated arenas, serving healthcare organizations and commercial businesses of every size.

Position Purpose:

The Senior Manager, Cash Application & Collections is responsible for driving the effective and efficient credit and collections for over 400,000 Stericycle customers across North America.  The role involves ensuring consistent processing and execution of collection strategies to drive timely receipt of cash and minimize past due receivables. This person is responsible for overseeing the Cash Application & Collections operations, overseeing and developing the managers within the Cash Application and Collection teams, helping manage outsourced providers, and working closely with Commercial business partners and Finance teammates to drive significant transformational change within the Order to Cash (OTC) function.

 

This person must be able to think strategically, manage teams, as well as engage in day-to-day tactical matters.

Key Job Activities:

• Lead an organization of approximately 60 internal team members (plus outsourced cash application and collection providers), including various managers and supervisors.
• Oversee the management of the Cash Application and Collections team to drive effective customer service and results, inclusive of identifying, executing implementation, and monitoring service level agreements (SLAs) and key performance indicators (KPIs) to drive transparency in the results of the Cash Application and Collections functions.
• Coordinate with other collections managers to manage the collections for over 400,000 customers, including continuous improvement with respect to collection strategies to drive timely receipt of cash and minimize past due receivables, maximizing positive impact on Stericycle’s DSO.
• Partner with Commercial contacts, Customer Experience team members, the overall Finance department, and Executive Leadership Team, as applicable, to address necessary process improvements of systemic issues and resolve customer issues resulting in improved invoice accuracy and successful collection/resolution of past due receivables.
• Lead and participate in determining optimal cash application and collection strategies; develop, implement, and administer cash application and collections policies and procedures; monitor and report out results in transparent manners to executive leadership.
• Be a key contributor to identifying and helping execute upon technology-based solutions for the team (e.g., improved use of ERP, use of tactical RPA, AI, etc.)   
• Oversee outside vendors, including business process outsourcing vendors and collection agencies, as applicable, and to support ongoing collection efforts.
• Support effective budget management and cost forecasting, as applicable.      
• Support the SVP, Chief Accounting Officer and other applicable OTC reporting members with ad hoc reporting and analysis around strategies to increase speed of cash application and reduce DSO.
• Performs other duties and responsibilities, in a Cash Application and Collections transformation state, as needed.

Experience:

• Required Education:  Associate's or equivalent,  Bachelor's degree preferred
• Required Years of Experience: 10+ years
• Preferred Experience: 15+ of Cash Application, Collections, and/or Credit experience, demonstrating complete understanding of bankruptcy and collection law, internal Aging Reports, and high familiarity with cash application software and processes
• Experience enabling growth, driving operational effectiveness, managing risk and improving the quality, speed and availability of data
• Track record in prioritizing competing demands, sound decision making and delivering results on tight timelines
• Detail-oriented, organized and possesses excellent analytical and problem-solving skills
• Effective interpersonal skills, including written and oral communication skills, with an ability to address complex matters in ways that are meaningful and useful to cross functional business partners
• Ability to attract and retain high quality finance professionals
• High proficiency within Microsoft Excel, Word, Outlook
• Demonstrates the ability to provide guidance to individuals and groups towards the accomplishment of meaningful goals that support business goals; build on strengths; provide encouragement and recognize accomplishments.
• Demonstrates the ability to p