Iron Mountain Director, Collections in Boston, Massachusetts
At Iron Mountain we protect what our customers value most, from the everyday to the extraordinary, while helping them bridge the physical and digital world. Our people have the opportunity to bring their creativity to a workplace that thrives on change. Here, you will be part of a team that doesn’t just embrace what’s exceptional. It creates exceptional.
This role is a key part of the global Agreement to Cash (A2C) organisation, which is focussed on billing, cash applications, disputes and cash collection. As part of the NA A2C leadership team, the Collections leader is focused on driving improvements and delivery of collections for North America. Our core North American business has over 160k customers ranging from small, medium businesses to our largest and most strategic accounts. Across this customer base and our commercial structure, we have a broad range of payment behaviors.
This is a leadership role that faces off to senior business and finance leaders, deals with key customers (e.g. for escalations or disputes) and interacts with sales leaders to influence and drive collection..
The Collections Leader will be responsible day to day for managing, motivating and leading the NA Collection teams, engendering a sense of empowerment in the pursuit of first class customer service delivery. This will include driving delivery of cash collection strategies and tightly managing the teams, requiring meticulous attention to detail and the ability to accurately interpret key collection outcome drivers, taking appropriate action where necessary. The role will include ownership of NA key collection targets of cash, ageing and BDE.
The role will partner closely with NA CFO, Sales VPs and Directors and our Care leadership to drive cash collection and liaise with the Sales and Operations account owners to address issues that impact upon A2C process efficiency and cash collection performance.
The Collections Leader will act as the People Leader for NA Collections team and will be responsible for local governance and control activities, as well as the local implementation of A2C Collection policies. The role will also be responsible for performance management and line manager activities for direct reports, including performance reviews and working with HR on relevant matters. This will include contributing to planning, budgeting and forecasting in relation to Collector headcount.
Financial Accounting responsibility
The collections leader will have responsibility for the collection related accounting balances and movements, in particular General and Specific reserves, write offs and elements of revenue accounting.
We are conducting a global A2C Transformation, implementing standards processes, operational procedures and a standard global technology stack. The role will be responsible for the local implementation of A2C leading practices (policies, procedures, reports) for NA Collections.
Driving cash collection to meet targets for A2C as well as embedding a cash mindset in all activities and A2C Collection teams.
Supporting the A2C team to localise any global initiatives and drive local implementation
Longer term, supporting the implementation and execution of the integration of acquisitions, new businesses and additional countries / businesses into the A2C model.
Management of aged receivables, BDE and ultimately driving achievement of EBITDA targets
Governance of cash initiatives e.g. cash calls and meetings, target setting, collection reviews, monthly reporting etc.
Enforcing compliance with A2C policy, identifying and addressing any deviations with those concerned, e.g. discussing the unapproved granting of extended payment terms with Sales management and agreeing remediation plans.
Managing the surfacing and resolution of billing-related disputes, i.e. ensuring that dispute resolution timescales are achieved including any major disputes that require fast track (48 hour) resolution and driving actions to reduce the impact of disputes upon cash collection.
Leading cross-functional (Sales, Operations, Finance) sessions to drive the eradication of the root causes of the most frequently occurring disputes, ensuring that action plans are documented and executed on time.
Interpreting changing customer payment performance segmentation results to track the degree of success in applying specific collection processes to specific customer segments, e.g. assessing the impact of proactive telephone collection and fast track dispute resolution upon major bad paying customers. This will include liaising with Sales teams to present results and agree actions that Sales need to take to support payment performance improvement.
Providing guidance and advice on how to resolve major customer payment issues, e.g. reviewing accounts with significant aged backlogs of unpaid invoices, unresolved disputes and unallocated cash. This will include leading meetings with major customers to discuss issues and agree resolution plans.
Managing the implementation and ongoing execution of leading practice cash collection processes including proactive telephone collection, variable automated dunning letter cycles, SMS based collection etc. This will include reviewing results on a monthly basis and making adjustments as and when required.
Managing the overall level of credit-related risk by tracking and monitoring the level of 90 day+ overdue receivables, identifying reasons, driving actions to collect cash and actions to resolve unresolved disputes. This will include reviewing the relationship between credit-based risk assessment, payment performance and 90 day+ overdue receivables to identify and action opportunities to adjust initial decision making on payment terms and payment methods
Facilitating decision making with local A2C stakeholders, including effective communication on status, issues, risks and opportunities.
Oversee all collections related month-close activities and month-end reporting ensuring that timescales are consistently met.
Managing the regional Collections delivery organisation and partnering with all local A2C stakeholders. The operations are delivered from a number of locations, centers onshore, offshore, 3rd party and remote workers. The role should set behavioural expectations and set the tone-from-the-top to make this successful.
The role has 5 direct reports and a number of dotted reports from shared services. Team size is 120FTEs.
Ensuring that key stakeholder relationships are maintained and there is strong communication and interaction between key business unit stakeholders and Collections.
Identifying and supporting the development of appropriate Collections related training to fill capability and skills gaps. Conduct training where applicable and/ or feasible.
Agreement to Cash NA Delivery Lead (direct manager)
Agreement to Cash Global Process Owner
Agreement to Cash Collection Leads in other regions
Agreement to Cash Transformation Leads
Agreement to Cash GPO organisation
3rd party providers
Global Chief Accounting Officer
NA GM and CFO
NA Sales and Operational Directors
Cash Collection, DSO and BDE
Meeting cash targets
Credit policy including A2C governance and controls
Customer satisfaction (Collections including dispute management)
Process and Systems utilisation and standardisation
Customer master data
Driving a cash mindset (change management)
Collections KPIs and data management
Operational Excellence and Improvement
Skills (including languages ) :
English fluency is required.
Track record of successfully driving performance and process improvement. Strong business process definition and analysis skills.
Understands the importance of cash within a business, and understands the components that can drive improvement results in cash collection metrics to a targeted level.
Ability to project manage, lead and work collaboratively in a matrixed environment with a large number of stakeholders to deliver end to end continuous process improvement
Flexibility and resilience to adapt to changing requirements and timeframes.
Excellent written and oral communication skills and able to create impactful, concise and easily understood presentations, and is able to effectively engage and influence senior stakeholders.
Strong analysis, problem solving, proactive root cause analysis, customer interfacing and conflict resolution skills.
Ability to constructively challenge the status quo, identify improvement opportunities and engage with all relevant parties to gain commitment, lead changes and ensure success. A change agent that is passionate about speed and simplicity.
Ability to set clear priorities and objectives for self and others and clarify ambiguities as they arise.
Ability to assess risk with A2C processes and to implement appropriate controls to mitigate risk.
End to end process understanding of the and order-to-cash operating model, ideally with a track record of DSO and cash collection sustainable performance improvement.
Minimum 15 years relevant functional experience, ideally billing or collections (preferably exposure to both);
5-10 years’ experience senior management or leadership roles
Experience working in a multinational environment in a matrix management structure.
Six-Sigma, Lean Enterprise or Continuous Improvement experience is a plus, but not essential.
Experience and working knowledge of Oracle ERP systems, customer portals.
Bad debt and customer behaviour modelling use experience
Remote team management, with ability to lead and motivate during ambiguity
AR settlement negotiations with largest customers and senior individuals
Experience managing a multi million $ cost center
Mobility Requirements: Up to 10% travel both domestically and some internationally (subject to COVID)
Category: Finance Group
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