Overview:
Velocity Clinical Research is an owned and integrated research site organization, providing excellence in patient care, high quality data and fully integrated research sites. At Velocity, we align our values and behaviors to give our employees the best chance of delivering on our brand promise: to bring innovative medical treatments to patients. We are committed to making clinical trials succeed by generating high quality data from as many patients as possible, as quickly as possible while providing exemplary patient care at every step.
As an employee of Velocity, you are the most integral part of our mission. For talented candidates who perform at a high level, Velocity will invest to support career advancement and reward performance. Whether you are new to clinical research or are an industry veteran, we invite you to apply to Velocity.
Benefits include medical, dental and vision insurance, paid time off and company holidays, 401(k) retirement plan with company-match, and an annual incentive program.
Job Summary:
The Senior Credit & Collections Analyst is responsible for managing accounts receivable, assessing credit risk, and implementing effective collection strategies internally and externally. This position will evaluate client creditworthiness, monitor, and follow up on past due invoices, resolving billing disputes on Sponsors and large CROs.
Duties/Responsibilities:
- Evaluate the creditworthiness of new and existing clients by analyzing financial statements, credit reports, and other relevant information. Make recommendations regarding credit limits and payment terms.
- Monitor accounts receivable aging reports and follow up on past due invoices on Sponsors and large CROs. Contact clients via phone, email, or mail to resolve payment issues and negotiate payment plans when necessary.
- Investigate and resolve billing discrepancies or disputes in a timely manner. Work closely with internal departments such as sales, billing, and customer service to address client concerns and ensure accurate invoicing.
- Apply payments received to the appropriate customer accounts and reconcile discrepancies between payments and invoices.
- Identify potential credit risks and develop strategies to mitigate losses. Monitor industry trends and regulatory changes that may impact credit and collections processes.
- Prepare regular reports on accounts receivable aging, collection activity, and credit risk assessment. Analyze data to identify trends, assess performance against targets, and make recommendations for process improvements.
- Maintain accurate records of credit approvals, payment arrangements, and collection activities. Ensure compliance with company policies, industry regulations, and legal requirements.
- Train AR Departmental Staff and any new hires.
- Run AR Aging and Credit Management Reports for AR Collections Manager as requested.
- Ensure all credit and write-off requests receive the appropriate accounting treatment.
- Support and manage AR/Cash application departments during AR Managers’ absence.
Required Skills/Abilities:
- Proficiency in Microsoft Excel and experience with accounting software (e.g., QuickBooks, NetSuite).
- Strong analytical skills with the ability to interpret financial data and assess credit risk.
- Excellent communication and negotiation skills, with the ability to interact effectively with clients and internal stakeholders.
- Detail-oriented and highly organized, with the ability to prioritize tasks and meet deadlines in a fast-paced environment.
- Knowledge of credit management principles, collection techniques, and regulatory compliance.
- Professional certification (e.g., Certified Credit Executive, Certified Credit Professional) is a plus.
Education and Experience:
- Bachelor’s degree in finance, Accounting, Business Administration, or related field.
- Five (5) to seven (7) years of experience in credit and collections, preferably in the healthcare or pharmaceutical industry.
NOTE: The above Job Description is intended to communicate the general function of the mentioned position and by no means should be considered an exhaustive or complete outline of the specific tasks and functions that will be required. Additionally, specific tasks and duties of the position are subject to change as the Company, the department and circumstances change. All employees are expected to perform their duties within their ability as required by the job and/or as requested by management.
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