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Company Name : Bausch + Lomb
Location : Bridgewater, NJ 08807
Position : Director, Accounts Receivable, Credit and Collections and Returns
Job Description : Bausch+Lomb Companies Inc. (NYSE/TSX: BHC) is a global company that develops, manufactures and markets a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. Each day, Bausch+Lomb products are used by over 150 million people around the world.
Our approximately 21,000 employees are united around our mission of improving peoples lives with our health care products, and we manufacture and market health care products directly or indirectly in approximately 100 countries.
The Director, Accounts Receivable is an integral leadership role within the Bausch + Lomb’s US Controller Organization, overseeing collections and cash management daily activities. The position is responsible for maximizing collections, cash posting, managing returns, monitoring credit balances, and other related activities.
General Functions/Specific Responsibilities
Manage the accounts receivable, collections and returns teams for each business unit (pharmaceutical, surgical, vision care and retail); expected to drive results in reducing risk exposure and days sales outstanding.
Manage the vendors providing services related to the A/R, Cash and Returns teams
Manage the departmental budgets and forecasts of department spend.
Responsible for reviewing aging’s and bad debt reserves for each business unit; monitoring and reporting trends and areas of risk to business owners and management.
Monitor and minimize customer deductions and disputes.
Responsible for managing requests for credit lines for new and existing customers, along with making final decisions on credit requirements related to quarterly deals or acquired receivables/accounts.
Responsible for managing the quarterly revenue test for revenue recognition for consumer and pharmaceutical businesses.
In charge of producing the weekly cash forecast to Treasury along with ensuring that the collections team meet the expectations on cash flow.
Manage and continuously improve all aspects of the function.
Manage the transition of acquired receivables and businesses into respective business units; assessing risk of aged receivables, and open deductions and credits.
Work with counterparts in acquisitions to gain knowledge on remaining receivables and coordinate with team on obtaining required documentation and support.
Responsible for ensuring department Standard Operating Procedures are in place for all major processes and that the team is well trained/knowledgeable in these areas; monitor and review controls in place on a monthly and quarterly basis.
Review month-end reports to upper management; aging trends, status on top accounts, comparative analysis month over month and roll forwards.
Responsible for coordinating and completing monthly metrics reporting and work to ensure the timeliness and accuracy of reporting to management and external sources
Assist in system updates/conversions; identifying configurations, testing, validation and documentation in relation to AR.
Management/Supervisory Requirements
Perform credit evaluation for customers, and deduction resolution for outstanding receivables.
Assist Management in integrating and managing risk of new businesses.
Create a team environment that values, develops and exhibits strong functional expertise and a collaborative mindset
Ensure AR team remains compliant with established Sox controls procedures and ensure audit compliance.
Partner with business/project leads on various ad hoc assignments related to acquisitions; assist in coordinating efforts related to acquisitions, divestitures and merger activities for AR department.
Coordinate with Managers (AR, Cash, Credit and Returns) on alignment of accounts, department structure and resource needs.
Required Education / Skills / Abilities
10+ years of experience in Credit function within with a minimum of 3 years in a supervisor/management capacity; audit experience a plus.
Undergraduate degree in business, accounting, or finance and strong Excel and analysis/reporting skills required
Proven expertise working in a fast-paced environment managing multiple commitments and time sensitive priorities with an ability to be flexible and adapt to changing priorities.
Strong communication skills and demonstrated success building and leading a team and working cross-functionally
Sound judgment with exceptional problem-solving skills with an ability to work well under pressure
Project management experience and organizational skills
Strong knowledge of Sox guidelines and understanding of importance of internal controls and segregation of duties
Process mindset with focus on continuous improvement in both functional process and talent development
Exposure to acquisitions preferred
SUPERVISE DIRECT REPORTS
This position may be available in the following location(s): [[Bridgewater, NJ]]
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Job Applicants should be aware of job offer scams perpetrated through the use of the Internet and social media platforms.
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