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Collections Analyst

Company: Kirkland & Ellis
Location: Chicago
Posted on: September 25, 2022

Job Description:

At Kirkland & Ellis, we are united in our ambition and drive to move forward. We share core values that help us achieve excellence: collaboration, talent empowerment, service, inclusion, respect and gratitude. Our people are our greatest asset, and we invest in the brightest talent and encourage a diversity of perspectives and strengths to create dynamic teams that operate at the pinnacle of their field. Our talented professionals show up every day knowing they will engage in meaningful work, continuous learning and professional development. As one of the world's leading law firms, we serve a broad range of clients with market-leading practices in private equity, M&A and other complex corporate transactions; investment fund formation and management; restructurings; high-stakes litigation and trials; and government, regulatory and internal investigations. We handle the most complicated and sophisticated legal matters because we don't just meet industry standards, we create them. We bring innovation and entrepreneurialism to every engagement and, as a result, have long-standing client relationships with leading global corporations and financial sponsors. With 6,500 employees (including 3,000+ lawyers) operating from 18 offices across the United States, Europe and Asia,we are one of the largest law firms in the world and a top financial performer. Essential Job Functions The Collections Analyst (CA) is responsible for the maintenance and analysis of Firm collections from select clients. With supervision by the Billing & Collections Manager, the CA will work directly with the Senior Collections Analysts (SCA's), Billing Attorneys and clients to ensure that client invoices are prepared in a timely fashion and payments from clients are received when expected. The CA will work directly with billing staff and collaborate with them on the best approach for achieving the Firm goals of prompt billing and collections and to ensure that the collection system reflects the appropriate status.
- Essential Functions: -(This list is not exhaustive and may be supplemented and changed as necessary.)

  • Coordinate the write-off approval process
  • Monitor write-off requests prepared by billing staff
  • Review requests for proper documentation and compliance with Firm policies and procedures
  • Approve requests within the CA's approval authority
  • Complete necessary analysis and forward significant write-off requests to appropriate approvers.
  • Manage collections of select clients in conjunction with the SCA
  • Contact delinquent clients to discuss open invoices and get resolution
  • Maintain monthly statements
  • Follow-up with clients who are non-responsive via letter series
  • Document all activities in ARCS for tracking
  • Serve as staff support to the Billing & Collection Committee
  • Assist with integrating the policies and procedures into daily operations of the Billing Department in conjunction with the SCAs and Billing Department supervisors and managers
  • Provide guidance to Billing Department staff in their collection efforts
  • Prepare weekly/monthly/quarterly/annual reports relative to number of delinquent clients, charge-off reports, month-end collection reports, and collection agency status
  • Prepare formal financial reviews on each major client on an annual basis at minimum in order to identify revenue risk factors at early stage
  • Responsible for the development, training, and usage of the collection reporting system
  • Review accounts to be recommended for write-off and cash application and assist in report preparation
  • Participate in the monthly Collection meeting and report status of all assigned delinquent accounts
  • Provide exception reports to Billing & Collection Committee and senior management
  • Establish monthly collection goal and Forecast cash flow for management reports
  • Liaise closely with billing partners to reconcile disputes and deductions
  • Work with Billing Department staff to designation client status (e.g. staff collects, attorney collects) in ARCS
  • Other duties as assigned Qualifications & Requirements
    • The Collections Analyst will have a Bachelor's Degree in Accounting, Finance, or Business or commercial collection experience. Previous experience in a law firm of professional services company is beneficial
    • Working knowledge of basic accounting principles
    • The Collections Analyst is expected to perform all job duties with a commitment to providing superior service while producing a high quality work product. The ability to multitask and prioritize is essential
    • The Collections Analyst must possess outstanding interpersonal skills in order to work effectively within a team environment, as well as independently. The ability to adapt to new assignments and deadlines in a fast-paced, highly demanding environment is required
    • Strong analytical and decision making abilities, as well as the ability to work with relational database software is critical Technologies/Software
      • MS Office with emphasis on Word and Excel
      • Elite 3E
      • ARCS Collection Software
      • This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, and filing cabinets. How to Apply Thank you for your interest in Kirkland & Ellis LLP. To complete an application and submit your resume, please click "Apply Now." All employment decisions, including the recruiting, hiring, placement, training availability, promotion, compensation, evaluation, disciplinary actions, and termination of employment (if necessary) are made without regard to the employee's race, color, creed, religion, sex, pregnancy or childbirth, personal appearance, family responsibilities, sexual orientation or preference, gender identity, political affiliation, source of income, place of residence, national or ethnic origin, ancestry, age, marital status, military veteran status, unfavorable discharge from military service, physical or mental disability, or on any other basis prohibited by applicable law. Closing Statement The job postings and recruiting mailbox are for candidates only. If you are a recruiter, search firm or employment agency, and do not have a signed contract with Kirkland & Ellis LLP ("K&E") and have not been asked specifically to submit candidates, you will not be compensated in any way for your referral of a candidate even if K&E hires the candidate. Direct contact with K&E employees in an attempt to present candidates is inappropriate and will be a factor in determining any future professional relationship with the Firm.

Keywords: Kirkland & Ellis, Chicago , Collections Analyst, Accounting, Auditing , Chicago, Illinois

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