Collections Specialist
7 months ago
LifeLabs is the largest community diagnostics laboratory in Canada, serving the healthcare needs of Canadians for over 50 years. Our team members are truly centred around our customers, and we know that behind every lab requisition, sample being tested, or investment in technology is an individual and their family counting on us.
Consistently named one of Canada's Best Employers by Forbes, LifeLabs has also been recognized for having an award-winning Mental Health Program from Benefits Canada. The passion and commitment of over 6,000 diverse and innovative team members unites and motivates us to ensure our customers receive high quality tests and results that they can trust. Agile, customer-centred, caring and teamwork: we live these values every day in what we do to support our customers and healthcare providers, driving forward our vision of _empowering a healthier you_.
Make a difference - join the LifeLabs team today
**Reports to**:Manager, Accounts Receivable
**_This is a Full Time Hybrid Temporary role for 13months based in Toronto. Health Benefits will be applicable._**
**Core Accountabilities**
- Manage portfolio assigned to reduce DSO, DCSO, Bad Debt, W/O improve Cash Flow and meet Key Performance Indicators (KPI)
- Participate and Schedule in periodic status update meetings with Key Account Managers (KAMS), Business Development Managers (BDMS) and management
- Maintain detailed online documentation of collection action taken and correspondence between customer (external and internal) regarding issues impacting payment
- Research and analyze accounts e.g. payment patterns/behaviors, sales history and previous collection steps prior to contacting debtors
- Reconcile Complex Billing and Payment issues
- Professional communication and appropriate etiquette required at all times
- Follow up with customers promptly on invalid claims to secure repayment
- Deliver on the established KPI scorecards
- Consistently strive for productivity gains to minimize controllable costs and implement industry best collection practices
- Educate customers on LifeLabs terms and various payment/billing options
- Prioritize efforts and determine the most effective means of collections
- Recommend customers to legal or third party action as deemed necessary
- Follow up with various departments within the business to resolve customer issues relating delivery of goods/services
- Request appropriate adjustments and corrections in accordance with Standard Operating Procedures (SOP)
- Comply/Update and participate in customer specific invoicing requirement discussion
**Qualifications and Skills**
- Post-Secondary school diploma/degree in business related field of finance/economics or relative work experience
- 3 years Collections experience in high volume Business to Business(B2B)/Business to Consumer environment(B2C) (min 1,000 Accounts)
- Strong Accounting knowledge
- High volume B2B experience preferred
- Strong reconciliation and analytical skills
- Customer driven results oriented
- Ability to engage key stakeholders in the resolution process for collections investigation
LI SW1 #INDEED
**Hiring Range**:$40,000 to $50,900
The hiring range established is the expected range for this position, however the final salary recommendation will be determined based off the level of experience, education requirement, external market conditions and internal equity.
**Employee Benefits**:
In this position, you will be eligible to participate LifeLabs’ group benefits plan which is available to LifeLabs employees in accordance with the terms and conditions of those plans.
**Retirement Savings**:
In this position, temporary employees are not eligible for participation in the Retirement Savings Program.
**Vacation Entitlement**:
In this position, you will be entitled to vacation pay, which will be applied to each pay.
**Employee Giving program**:
Designed to support any employee who donates, fundraises or volunteers for a Canadian Registered Charity or Non-Profit Organization.
In addition, LifeLabs offers professional development and membership reimbursement, access to preferred rates and discount programs - WorkPerks, Home and Auto Insurance, Costco Membership, etc. - and Optional Health-related Benefits.
We are committed to the ongoing development of our diversity, equity, and inclusion (DEI) program and have taken steps to strengthen our commitment to our team members and customers, to challenge ourselves to act with courage and integrity, and to create an environment where people can be their true selves.
At LifeLabs, we know that we are Stronger Together and that we will benefit from the unique perspectives and experiences that each team member offers.
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