Collections Analyst

The Collections Analyst is responsible for monitoring aged accounts receivable (AR) and ensuring the timely collection of payments in accordance with client agreements. This role involves compiling and reconciling financial data, reviewing delinquencies and payment anomalies, and executing collection strategies to resolve outstanding balances. The Collections Analyst serves as a liaison between clients, attorneys, legal executive assistants, and internal leadership to address billing discrepancies, payment issues, and unallocated funds.

Essential Functions

• Monitor aged AR accounts for assigned portfolio and initiate timely follow-ups with clients and/or billing attorneys
• Ensure payments are collected in accordance with contract terms and firm policies
• Document all outreach efforts in the client's account record within firm's operating system
• Compile and reconcile data related to outstanding balances
• Review short-pay reports and payment discrepancies to determine causes (e.g., wire fees, discounts, expense adjustments) and take corrective action
• Efficiently and accurately research and resolves unapplied retainers, unapplied cash, cost credits, and other issues regarding income
• Coordinate with the Cash Application team to process refunds on closed accounts
• Process approved write-offs promptly and recommend account resolutions when collection efforts have been exhausted
• Serve as the primary point of contact for billing discrepancies, payment questions, and past-due balances
• Provide accurate reports of client accounts to partners
• Communicate and provide efficient, professional service to the attorneys and other staff members in a fast-paced, deadline driven environment
• Understand and demonstrate all facets of collection functions, including billing and client payments
• Manage both personal and department e-mail/voice mail and respond to all correspondence within service level agreement
• Assist in identifying issues attributing to billing slowness and account delinquency and alert Collections Manager when escalation is necessary

Non-Essential Functions

• Other duties may be assigned, as necessary

Minimum Qualification

• College degree or commensurate experience with high school diploma
• Law firm or professional services background preferred
• Two or more years specializing in collections

  Success Factors

• Ability to work independently and manage multiple priorities in a deadline driven environment
• Interpersonal skills necessary to maintain effective relationships with attorneys and business professionals via telephone, email or in person to provide information with ordinary courtesy and tact
• Strong attention to detail and organizational skills
• Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization
• Aptitude working with numbers
• Knowledge of Elite 3E a plus
• Proficiency in Microsoft Office products such as Word, Excel, Outlook
• Analytical thinking and problem-solving abilities

  Work Environment

• Non-smoking environment
• Standard office hours with occasional overtime required
• Must be able to work under tight deadlines and in stressful situations
• Hybrid work arrangements are available for this position

The anticipated base salary range for this position is $74,100 - $85,700. The actual base salary offered will be dependent upon the applicant's experience and qualifications, as well as other job-related factors, including but not limited to, relevant skills, education, certifications or other professional licenses held, and if applicable, geographic location.

Steptoe offers a full range of benefits for you and your eligible dependents. Benefits currently include: medical, dental, vision, life, disability, dependent care, health care flexible spending accounts, 401K Plan, Profit-Sharing, Paid Time-Off and a robust Wellness Program.

Steptoe LLP is an equal opportunity employer EOE/AA/Minority/Female/Disability/Veteran. All qualified applicants will receive consideration without regard to race, color, religion, gender, national origin, sexual orientation, gender identity and expression, marital status, mental or physical disability, genetic information, or any basis proscribed by applicable statutes.