Senior Manager - Collections Recovery
Penske•Reading, PA
About The Position
The Sr Manager - A/R Recovery is responsible to maximize the collections recovery from customers who are no longer active accounts or are in bankruptcy. Penske Truck Leasing/Transportation Solutions is a premier global transportation provider that delivers essential and innovative transportation, logistics and technology services to help companies and people move forward. With headquarters in Reading, PA, Penske and its associates are driven by a dedication to excellence and a commitment to customer success. Visit Go Penske [https://www.gopenske.com/] to learn more.
Requirements
- Senior Manager - Collections Recovery role requires a Bachelor's degree in Business, Finance, or related field.
- Minimum of 5-7 years of experience in accounts receivable, collections, or recovery roles.
- Proven experience in managing a portfolio of bad debt cases.
- Strong understanding of collections laws and regulations.
- Experience in negotiating settlements with debtors.
- Excellent analytical, problem-solving, and decision-making skills.
- Proficiency in accounting systems and reporting tools.
- Strong leadership and coaching abilities.
- Excellent communication and interpersonal skills.
Nice To Haves
- Experience working with outside attorneys and collection agencies.
- Knowledge of bankruptcy proceedings.
- Experience in the transportation or logistics industry.
Responsibilities
- Reviewing submissions, researching and determining the best recovery path for bad debt placements.
- Coaching and case support for Penske Account Recovery Service (PARS / GENPACT) team
- Providing direction and support to outside attorneys for our collections cases.
- Preparation of reporting of results and projecting P&L impact of bad debt & recovery activities
- Providing guidance to our Field with severely delinquent customers.
- Coding the bad debt in our accounting systems
- Choosing the right placement (collections agency, attorney or in-house) for the best chance at recovery
- Leading the agency/attorney through the collections process or through litigation
- Managing this portfolio of cases – determining when to push through to the end of litigation, when to settle and when to cut our losses.
- Entering into discussions with debtors and negotiating the final settlement.
- Other projects and tasks as assigned.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
