Job Purpose
The job holder will be responsible for managing the collection process of any outstanding payments by co-ordinating with customers to ensure that timely payments are complete to minimize instances of overdue payments.
Key Accountabilities
• Monitor customer accounts regularly and identify potential Instances of bad debts or payment issues and address them in a professional manner to reach payment agreements with customers, thereby enhancing strong customer relations.
• Collect overdue payments/ bad debts from customers in a timely and efficient manner by utilizing reasoning and negotiation skills, while also focusing on building strong customer relationships to minimize future instances of bad debts and increase customer loyalty.
• Release proof of payments to the finance team and ensure that billing and collection processes are completed accurately and on time, and in accordance with established guidelines and policies to minimize errors, improve financial accuracy, and reduce the risk of financial mismanagement.
• Perform progressing activities on instalment plan(s) (milestones/date basis) to ensure that billing of the due amount is captured accurately in the SOA (Statement of account) as per SPA (Sales Purchase Agreement).
• Maintain accurate records of payment plans, availability, and collections in the internal CRM (Customer Relation Management) system and ensure that all relevant documents are properly secured through an efficient document management system to minimize errors, reduce the risk of data loss; and improve operational efficiency,
• Analyse the assigned overdue payment cases and issue legal notice(s) to customers in consultation with the legal department and other authorities (DLD and Dubal court) by validating information from SPA, Yardi/Oracle system, and customer files/documents.
• Complete necessary administrative duties in a timely and accurate manner, including resolution forms, termination forms, and responding to customer inquiries via email to ensure that all necessary paperwork is filled, and customer inquiries are resolved promptly.
Prepare reports on collections activities, and outstanding payments, analyse these data, and take the appropriate decisions referring to the construction percent with the aging report
Qualifications, Experiences, Skills
• Bachelor’s degree in Finance/ Accounting/ Business Administration; Master’s degree preferred
• Knowledge of legal regulations and procedures related to terminations and receivable management.
Minimum Experience (number of years):
- Minimum 2-4 years’ experience with at-least 2 years experience in optimizing termination processes for efficiency and effectiveness.
Job Specific Skills:
• Proficiency in MS Office suite, particularly MS Excel for data and reporting.
• Conversant with CRM system (YARDI)/Salesforce/Oracle
• Strong analytical skills - Ability to interpret data and draw actionable conclusions.
• Excellent verbal and written communication skills.
• Strong negotiation abilities to handle interactions with clients/customers professionally.
• Ability to convey complex financial information in a clear and concise manner
• Customer Relationship Management
• Detail-oriented and Team player
• Excellent time management skills
• Be able to handle multiple tasks and meet deadlines.
• Ability to prioritize collections efforts based on the urgency of outstanding payments.