Merck - Senior Manager - B2B Collections

Senior Manager B2B Collections

- Work Your Magic with us! Ready to explore, break barriers, and discover more? We know you've got big plans so do we! Our colleagues across the globe love innovating with science and technology to enrich people's lives with our solutions in Healthcare, Life Science, and Electronics.

- Together, we dream big and are passionate about caring for our rich mix of people, customers, patients, and planet. That's why we are always looking for curious minds that see themselves imagining the unimaginable with us.

Job Summary:

- The Senior Manager, B2B Collections, will be responsible for managing and optimizing the collections process for business-to-business transactions.

- This role will lead a team of collections professionals, ensuring the timely collection of receivables, minimizing bad debt, and maintaining strong relationships with key customers.

- The Senior Manager will also implement strategies to improve cash flow, reduce Days Sales Outstanding (DSO), and support overall business objectives. Key Responsibilities:

Leadership & Team Management:

- Lead, mentor, and manage a team of B2B collections specialists, ensuring high performance, productivity, and adherence to company policies.

- Provide coaching, training, and development opportunities to team members to improve collections processes and customer engagement.

- Set team goals, monitor performance, and provide regular feedback to ensure targets are met.

Collections Process Management:

- Oversee the day-to-day operations of the B2B collections process, ensuring timely collection of outstanding invoices and resolution of disputes.

- Monitor accounts receivable aging reports and prioritize collection efforts for overdue accounts.

- Negotiate payment terms, settlements, and payment plans with customers, balancing business needs with customer satisfaction.

- Collaborate with sales, customer service, and legal teams to resolve payment issues and disputes.

Strategy & Optimization:

- Develop and implement strategies to optimize the collections process, reduce DSO, and improve cash flow.

- Identify and drive process improvements, including automation opportunities, to enhance efficiency in collections operations.

- Monitor and analyze key performance metrics, including collection rates, DSO, and bad debt, providing insights and recommendations to senior leadership.

Customer Relations & Risk Management:

- Build and maintain strong relationships with key customers to ensure successful collections while maintaining positive business relationships.

- Evaluate the creditworthiness of new and existing customers, ensuring proper risk assessment and implementation of appropriate credit limits.

- Monitor and manage credit risk by conducting periodic reviews of customer accounts and updating risk profiles.

Reporting & Analysis:

- Prepare regular reports on collections performance, accounts receivable aging, and key risk areas for senior management.

- Provide data-driven insights and forecasts on collections trends and performance.

- Collaborate with finance teams to ensure proper cash application and reconciliation of accounts.

Qualifications:

- Degree in Finance, Accounting, Business Administration, or a related field.

- A Master's degree is a plus.

- 14+ years of experience in credit and collections, with a minimum of 5 years in a managerial or supervisory role.

- Strong experience in B2B collections and credit management, with a proven track record of reducing DSO and managing large portfolios.

- Excellent leadership and team management skills, with a focus on driving team performance and development.

- Strong knowledge of financial analysis, credit risk management, and collections best practices.

- Outstanding negotiation, communication, and interpersonal skills, with the ability to influence and resolve issues with customers.

- Proficiency in financial and collections management software (e.g., SAP, Oracle, Salesforce, etc.).

- Knowledge of collections laws and regulations, including Fair Debt Collection Practices.

What we offer:

We are curious minds that come from a broad range of backgrounds, perspectives, and life experiences. We celebrate all dimensions of diversity and believe that it drives excellence and innovation, strengthening our ability to lead in science and technology. We are committed to creating access and opportunities for all to develop and grow at your own pace. Join us in building a culture of inclusion and belonging that impacts millions and empowers everyone to work their magic and champion human progress! Apply now and become a part of our diverse team!