Accounts Receivable Specialist - McDermott+Consulting

Accounts Receivable Specialist

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Accounts Receivable Specialist

Build your career with the Firm that does Big Law better. McDermott Will & Emery is a leading global law firm that brings together more than 1,400 lawyers and 1,200 business professionals. We celebrate excellence, collaboration and community and have been recognized as a top workplace by The American Lawyer, Working Mother Magazine, Vault and the Human Rights Campaign. 

At McDermott, we don’t just invest in your future, we accelerate your career – wherever it may lead. That includes supporting you both in and outside of the office.

With us, you’ll find:

A Firm where everyone belongs: Our award-winning culture prioritizes warmth and authenticity — we encourage you to be yourself!
Enthusiasm for diverse perspectives: We’re smarter and stronger when everyone has a voice and a seat at the table. We welcome unique viewpoints and ideas, and we make opportunities for you and your career to thrive.
Support to feel your best and do your best: Wellness is integral to building a successful career and a rich life. That’s why our benefits program supports your physical, emotional, mental and financial health, with an emphasis on work/life balance.
Real rewards for real work: We offer generous compensation packages that recognize hard work and excellence.

Position Summary:
The Accounts Receivable (AR) Specialist manages assigned receivables and evaluates aging, credit risk, collection follow-up, and recommends steps to mitigate write-offs and enhance cash flow. This position handles accounts receivable inquires, ad hoc reporting, and remittance instructions in a timely and accurate manner. The Accounts Receivable Specialist works under moderate supervision and relies on experience and judgment to plan and accomplish goals.

Essential Functions and Responsibilities:
– Maintain an AR portfolio and assess and execute appropriate actions to secure payment
– Document collection status utilizing the Firm’s collection system
– Assist with ad-hoc reporting and special projects
– Resolve AR inquiries, including account status and payment terms
– Aid in the preparation of reports of delinquent accounts and follow up with the clients or vendors
– Update the AR database to ensure accuracy
– Reconcile payments with AR ledger and correct discrepancies
– Record, verify and post payments received by the Firm
– Analyze data to identify improvements to the collection strategy
– Collect data to assist with building reports that forecast future collection amounts
– Support the 270+ day write-off process
– Research and propose best practices to manage unallocated cash balances

Job Specifications:
– At least three (3) years of related work experience
– Strong knowledge of Microsoft Office Suite (Excel, Outlook, PowerPoint, and Word)
– Knowledge of standard accounts receivable policies, processes, and practices
– Experience using accounting software
– Strong written and verbal communication skills
– Strong organizational skills
– Strong client service and resolution-oriented communication skills
– Ability to work under tight deadlines and prioritize responsibilities
– Ability to handle and maintain confidential information
– High comfort level with new systems and integration
– Ability to learn new concepts and skills quickly

Physical Demands and Work Environment: The physical demands and work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Physical Demands: While performing the duties of this job, the employee is required to sit, use hands, reach with hands and arms, stoop, talk and hear. Employee must occasionally lift up to twenty (20) pounds. Work Environment: Typical indoor office environment.

Disclaimer: The above statements are intended to describe the general nature and level of the work being performed by people within this classification. They are not intended to be an exhaustive list of all responsibilities, duties and skills required of employees assigned to this job.

Successful candidates will be provided with outstanding career opportunities and will receive a competitive total rewards package with the opportunity to earn performance-based bonuses.
Expected Pay Range in Los Angeles $64,600 – $86,000
Expected Pay Range in New York and San Francisco $67,500 – $89,900

As part of our ongoing commitment to be #AlwaysBetter for our people, clients and communities, we have created a culture of belonging that champions your individuality as both a person and a professional. From our competitive compensation, top benefits and award-winning professional development programs to industry-leading wellness initiatives, we support you through every stage of your life and career. With McDermott, you can live a life you love both in and outside of the office.