Honigman is a premier business law firm based in Michigan with an international practice. Recently recognized in Detroit as one of the Best and Brightest Places to Work and a Top Workplace by the Detroit Free Press, we earned this recognition by recruiting attorneys and staff members with outstanding credentials. With more than 300 attorneys working in 60 different areas of concentration, Honigman provides timely and cost-effective counsel to clients in numerous industries. We are currently seeking a Credit & Collections Manager for our Detroit office.
The Credit & Collections Manager will work under the direction of the Director, Financial Services and Value Partners and will work closely with Department Chairs to manage the credit and collections activities of the Firm. The Credit and Collections Manager will play a hands-on role to facilitate effective collection management and work-out strategies to support continuous refinement of the methods required to reduce the Firm’s collection cycle time. The ideal candidate will be experienced with both billing and collections in a law firm or professional services firm and has experience overcoming those challenges.
Oversee the day-to-day activities of the collection staff to ensure the timely receipt of firm receivables and achievement of target levels for Firm collections.
Utilize systems to manage investments in Work in Process and Accounts Receivable. Identify action items requiring assignment to billing/collection staff, discussion with the relationship attorney, Practice Group Leader or Department Chair and through direct client contact.
In addition to managing collections efforts year-round, the Credit and Collections Manager will be responsible for a formal, systematic year-end collections program.
Negotiate payment plans and/or settlements subject to management approval and ensure that payment plans are adhered to.
Develop effective communications with Department Chairs and the Operating Committee Chair to keep all parties informed of credit concerns and collections problems. Work with the Operating Committee Chair to escalate matters to senior firm management, when appropriate.
Work with collection staff, attorneys, and clients directly to resolve any collection issues, inquiries and requests as they arise.
Prepare various status reports and analyses for firm management including Watch Lists and Large Client reports.
Review write-offs and client disbursements for compliance with Firm and department policies and procedures.
Work with accounting staff, attorneys, and clients to review and address unapplied cash and short-paid invoices. Assist accounting staff with complicated receipt allocations.
Review collection and write-off trends to maximize the Firm's collection efforts. Work with staff, attorneys, and clients to increase the timeliness and amount of collections, while reducing write-downs and write-offs.
Assist partners who are departing the Firm to ensure that all assigned Work in Process is billed, all Accounts Receivable are collected, matter reassignments are identified and matters are closed, as necessary.
Stay current with and advise of industry best practices, new developments and trends in the collections and accounts receivable profession.
Manage collection staff; recruit, train, and evaluate as necessary; develop staff through formal and informal coaching, mentoring, appropriate assignments and annual performance review.
Act as primary resource in determining client credit worthiness both at the onset and throughout the client engagement.
Maintain strong working relationship with Billing Manager to ensure client billing requirements are being met such that clients can pay invoices without unnecessary delays.
Bachelor’s degree and related coursework in accounting/finance.
Five years credit and collections management experience in a law firm or professional services environment or ten years credit and collection experience in a senior role at a large company.
Prior billing experience in a law firm or professional services environment.
Minimum of five years supervisory experience and ability to supervise and develop staff effectively.
Excellent analytical skills and attention to detail.
Must have superior communication skills with the ability to clearly summarize complicated concepts in both written and oral communications in a meaningful way.
Exercise sound judgment and possess the confidence and interpersonal skills to communicate effectively with the Firm’s senior management, lawyers, professionals, business staff, and clients.
Excellent time management and organizations skills with the ability to multi-task and prioritize various departmental responsibilities.
Strong negotiations and facilitation skills.
Ability to build relationships and foster a collaborative environment with all stakeholders.
Ability to anticipate, identify, evaluate and solve varied problems, as well as improve processes and efficiencies.
Knowledge of the Microsoft Office suite, including Excel, Access, and Word. Experience with Aderant or comparable legal billing software is desirable.
About Honigman LLP
Honigman is a premier business law firm based in Michigan with an international practice. Recently recognized in Detroit as one of the Best and Brightest Places to Work and a Top Workplace by the Detroit Free Press, we earned this recognition by recruiting attorneys and staff members with outstanding credentials. With more than 300 attorneys working in 60 different areas of concentration, Honigman provides timely and cost-effective counsel to clients in numerous industries.