VP, Cash & Collections

Sompo International•Charlotte, NC

1d•Onsite

About The Position

Are you looking for your next opportunity? Sompo has a unique opportunity for an VP, Cash & Collections to join our Finance team. This role will lead cash management, accounts receivable, and collections processes, ensuring operational excellence, compliance, and strong stakeholder relationships to maximize cash flow and reduce financial risks. Location: This position can be based out of our Charlotte, NC office . We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers. Our business, your impact, our opportunity: What you’ll be doing:

Requirements

Bachelor’s degree in Finance, Accounting, Business Administration, or a related field; MBA or CPA preferred.
10+ years of experience in cash management, accounts receivable, or collections, with at least 5 years in a senior leadership role.
Proven expertise in financial analysis, cash flow forecasting, and collections strategy.
Strong leadership skills with a track record of managing and developing high-performing teams.
Proficiency in financial management systems and tools; familiarity with automation technologies is a plus.
Knowledge of North American financial regulations and compliance requirements.

Responsibilities

Execute the strategic vision for cash management and collections operations in alignment with the company's financial goals and objectives.
Lead initiatives to streamline and optimize cash flow processes, ensuring efficient use of resources and alignment with industry best practices.
Oversee cash forecasting, liquidity management, and banking relationships to ensure adequate funding and operational efficiency.
Monitor and analyze cash flows, identifying opportunities for improvement and implementing strategies to enhance cash position.
Ensure compliance with financial regulations and internal controls related to cash management.
Establish and manage effective collections processes to minimize overdue receivables and bad debt.
Develop and maintain key metrics to monitor and report on the performance of collections activities.
Collaborate with internal teams, including underwriting, claims, and finance, to address payment issues and resolve disputes.
Lead, mentor, and develop a high-performing team of professionals across cash management and collections functions.
Foster a culture of accountability, collaboration, and continuous improvement within the team.
Ensure appropriate training and development opportunities for team members.
Build and maintain strong relationships with business partners, brokers, and internal stakeholders to ensure effective communication and coordination.
Represent the cash and collections function in cross-functional meetings and initiatives.
Drive the implementation of technology solutions to enhance cash management and collections processes.
Identify opportunities to automate processes and improve efficiency through innovative tools and systems.
Develop and deliver regular financial reports and analysis to senior leadership, providing insights into cash flow trends, collections performance, and areas for improvement.
Ensure accuracy and timeliness of financial data related to cash and collections.

Benefits

Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution
Pharmacy benefits with mail order options
Dental benefits including orthodontia benefits for adults and children
Vision benefits
Health Care & Dependent Care Flexible Spending Accounts
Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children
Company-paid Disability benefits with very competitive salary continuation payments
401(k) Retirement Savings Plan with competitive employer contributions
Competitive paid-time-off programs, including company-paid holidays
Competitive Parental Leave Benefits & Adoption Assistance program
Employee Assistance Program
Tax-Free Commuter Benefit
Tuition Reimbursement & Professional Qualification benefits