About this role
- To support the Credit Control function through effective debt collection, debtor management, and cash flow improvement, while contributing to the firm's financial hygiene, WIP management, and lock up reduction.
- Scope, Reach & Key Relationships Business partner with selected Partners, Directors and Client-facing teams with the aim of reducing Debt and Work in progress on their portfolios.
- Maintain complex or escalated client’s queries.
- Work collaboratively with the wider Finance team.
- Report on WIP, debtors, Lock-up, collections and cash flow performance.
- Promoting best practice in billing, debt recovery, WIP management, and cash collection to support the firm’s financial hygiene.
- Principal Accountabilities / Responsibilities: Job/Workflow & Technical Management: Ensure timely collection of outstanding debts and payment Monitor aged debt reports ,and escalate high-risk accounts as required.
- Maintain accurate records of collection activity.
- Support month-end reporting, WIP reviews, and lock-up analysis.
- Identify and implement improvements to credit control processes and financial hygiene Support Partners, Directors, and fee earners aged WIP management and timely billing.
- Carry out daily cash receipt allocations Advise legal teams on escalated bad debt matters Monitor client credit risk and communicate concerns to the relevant stakeholders Client, Internal and External Organisational Contact: Develop strong relationships with Partners, Directors, fee earners and stakeholders to support collection, WIP management and Lock-up reduction.
- Communicate professionally and empathetically with clients to maintain relationships while securing payment.
- Address disputes and queries promptly, working cross-functionally where needed to resolve issues.
- Managing and completing the core processes that underpin the debt recovery process including daily cash receipt posting, client reminders/statement runs, the processing of cheque, card and Direct Debit payments.
- Attendance and engagement at Credit Control and Finance meetings.
- Periodic travel to other KR offices in Kent/London/Sussex to build key relationships and attend key meetings.
- Preparation and supply of reports to other members of the department or Partners on an ad hoc basis Maintain positive client relationships while securing payment and resolving queries Maintain Debt provisioning for reporting purposes.
- Monitoring your portfolio of debts though effective use of data.
- Working effectively with preferred solicitor(s) to maximise net recoveries on older debt.