Collections Specialist – Full Time – Temporary – Remote – ON
City : Toronto, ON, CA
Category : Finance
Industry : Healthcare
Employer : LifeLabs
LifeLabs is the largest community diagnostics laboratory in Canada, serving the healthcare needs of Canadians for over 50 years. Our team members are truly centred around our customers, and we know that behind every lab requisition, sample being tested, or investment in technology is an individual and their family counting on us.
Consistently named one of Canada's Best Employers by Forbes, LifeLabs has also been recognized for having an award-winning Mental Health Program from Benefits Canada. The passion and commitment of over 6,000 diverse and innovative team members unites and motivates us to ensure our customers receive high quality tests and results that they can trust. Agile, customer-centred, caring and teamwork: we live these values every day in what we do to support our customers and healthcare providers, driving forward our vision of empowering a healthier you.
Make a difference – join the LifeLabs team today!
Reports to: Manager, Accounts Receivable
Purpose of the Role Responsible for the timely review and collections of assigned portfolio, consisting of regional and national Business to Business (B2B). The position will require a high-level of professionalism, meeting or exceeding Key Performance Metrics (KPM), adhering to the strict privacy guidelines and taking the lead to mitigate the risk of bad debt and impact to cash flow. Candidate must demonstrate excellent organization skills, be efficient, have a high degree of business acumen, accurate an persistent.
This will be a 6 months full time temporary role.
- Manage portfolio assigned to reduce DSO, DCSO, Bad Debt, W/O improve Cash Flow and meet Key Performance Indicators (KPI)
- Participate and Schedule in periodic status update meetings with Key Account Managers (KAMS), Business Development Managers (BDMS) and management
- Maintain detailed online documentation of collection action taken and correspondence between customer (external and internal) regarding issues impacting payment
- Research and analyze accounts e.g. payment patterns/behaviors, sales history and previous collection steps prior to contacting debtors
- Reconcile Complex Billing and Payment issues
- Professional communication and appropriate etiquette required at all times
- Follow up with customers promptly on invalid claims to secure repayment
- Deliver on the established KPI scorecards
- Consistently strive for productivity gains to minimize controllable costs and implement industry best collection practices
- Educate customers on LifeLabs terms and various payment/billing options
- Customer interface and point of contact for the cash application team relating to payment allocation including follow-up of unresolved debit notes and invoicing disputes
- Prioritize efforts and determine the most effective means of collections
- Recommend customers to legal or third party action as deemed necessary
- Follow up with various departments within the business to resolve customer issues relating delivery of goods/services
- Request appropriate adjustments and corrections in accordance with Standard Operating Procedures (SOP)
- Comply/Update and participate in customer specific invoicing requirement discussion
Minimum Qualifications and Skills
- Post-Secondary school diploma/degree in business related field of finance/economics or relative work experience
- 3 years Collections experience in high volume Business to Business(B2B)/Business to Consumer environment(B2C) (min 1,000 Accounts)
- Strong Accounting knowledge
- High volume B2B experience preferred
- Strong reconciliation and analytical skills
- Customer driven results oriented
- Ability to engage key stakeholders in the resolution process for collections investigation
#LI LM1 #INDEED
At LifeLabs, we strive to create an inclusive and equitable workplace where our team members and the communities we serve feel accepted, valued, and respected.
In accordance with LifeLabs’ Accessibility Policy, the Accessibility for Ontarians with Disabilities Act, and the Ontario Human Rights Code, accommodations are available by request for candidates taking part in all aspects of the recruitment and selection process. For a confidential inquiry or to request an accommodation, please contact your recruiter or email firstname.lastname@example.org.
LifeLabs is committed to providing a safe environment for our employees, customers, and the communities we serve. We have been a leader throughout the COVID-19 pandemic regarding health and safety measures and have always put our employees and customers at the center of every decision that we make. As an organization in the health care sector, we believe the COVID vaccination adds a layer of protection that complements the extensive and necessary health and safety protocols that we have taken to date. With this in mind, we currently require all LifeLabs employees, contractors, students and volunteers to be fully vaccinated.
LifeLabs operates under a distributed workforce model, where employee flexibility is a key priority. Further information will be provided during the interview process on what this means for employees.