Description
SUMMARY
This position is responsible for timely collection, managing DSO, timely revenue recognition and managing overall working capital of the organization.
Essential Duties and Responsibilities
Here are your key responsibilities:
1. Account Receivable - Collection & Credit checks
· Independently managing communication with overseas customers related to collection.
· Regular follow up for collection by emails/ phone calls as needed.
· Resolving issues related to collection by escalating it to the immediate manager & coordinating with internal departments like Sales, Customer Service, Operations and Quality etc.
· Sending outstanding statements, and dunning letters to customers in case of delayed payments.
· Analysis of past due collections by reason and reporting weekly collections against forecast.
· Resolving collection issues in time to avoid bad debt risk.
· Due Diligence of credit check for new customers before onboarding
2. Account Receivable – Accounting
· Ensuring correct and timely accounting of receipts from customer
· Timely Customer account reconciliation and resolving the differences
· Sending monthly intercompany statements and reconciliation of Intercompany Account balances.
· Ensuring proper accounting for AR related Credit note, Debit note, Bank Receipts.
3. Revenue Recognition
· Ensuring correct and timely revenue recognition as per the accounting standard.
· Check the appropriateness of the monthly revenue recognition as per the accounting standard.
4. Banking Compliances
· Ensuring submission of export invoices to bank in time and Credit notes to Bank for closure of Bank Reference
· Ensuring correct Closure of bank records for receipts (Collection) from customer
· Monitoring periodic export outstanding statement from bank and ensure correctness.
Functional Competencies
· Knowledge of Accounting standards on revenue recognition
· US GAAP & Ind AS Knowledge
· Good Communication skills
· Management Dashboard Reporting
· Proficiency in ERP systems like Oracle, SAP, etc.
Education and Experience Requirements
· B.com from reputed college – Overall 10+ years of experience with minimum 4-5 years of experience in accounts receivables.
· MCom is preferred
· Excellent communication skills – written and spoken as job requires extensive communication.
KEY RELATIONSHIPS:
· Internal: Customer Service, EXIM & Operations
· External: Customers, Banks and Financial Institutions
Leadership Competencies:
· Accountability: Demonstrates full ownership in resolving collection-related issues efficiently and accurately.
· Customer Success Orientation: Understands customer needs thoroughly and delivers solutions aligned with their expectations.
· Integrity: Upholds a strong sense of ethics and confidentiality when handling sensitive financial information.
· Sense of Urgency: Acts promptly to resolve issues and provides timely, proactive communication and feedback to customers.
Language Skills
Fluency in oral and written English communication
About Regal Rexnord
Regal Rexnord is a publicly held global industrial manufacturer with 30,000 associates around the world who help create a better tomorrow by providing sustainable solutions that power, transmit and control motion. The Company’s electric motors and air moving subsystems provide the power to create motion. A portfolio of highly engineered power transmission components and subsystems efficiently transmits motion to power industrial applications. The Company’s automation offering, comprised of controls, actuators, drives, and precision motors, controls motion in applications ranging from factory automation to precision control in surgical tools.
The Company’s end markets benefit from meaningful secular demand tailwinds, and include factory automation, food & beverage, aerospace, medical, data center, warehouse, alternative energy, residential and commercial buildings, general industrial, construction, metals and mining, and agriculture.
Regal Rexnord is comprised of three operating segments: Industrial Powertrain Solutions, Power Efficiency Solutions, and Automation & Motion Control. Regal Rexnord has offices and manufacturing, sales and service facilities worldwide. For more information, including a copy of our Sustainability Report, visit RegalRexnord.com.
