What are the responsibilities and job description for the Financial Operations Manager position at Marsh & McLennan Companies, Inc.?
Company Overview:
Marsh & McLennan Companies, Inc. is a leading professional services firm that provides business insurance, employee health & benefits, retirement, and private client insurance solutions to organizations across North America.
We combine the personalized service model of a local consultant with the global resources of the world's leading professional services firm, Marsh McLennan (NYSE: MMC).
Job Description:
As a Financial Operations Manager, you will oversee the fiduciary accounts receivable team, ensuring timely and accurate invoicing, reconciliations, and collections.
You will develop and maintain policies and procedures for the accounts receivable function, implement effective collection strategies, and ensure compliance with relevant accounting standards and regulations.
Key responsibilities include:
- Managing and supervising the fiduciary accounts receivable team
- Reviewing and working with line of business on the invoicing process
- Monitoring accounts receivable aging reports and implementing effective collection strategies
- Ensuring fiduciary GL accounts are reconciled timely and discrepancies are corrected within corporate deadlines
- Developing and maintaining policies and procedures for the accounts receivable function
- Reconciling accounts and resolving discrepancies in a timely manner
- Coordinating with sales and customer service teams to address customer billing issues and disputes
- Preparing and presenting regular accounts receivable reports to senior management
- Implementing and optimizing accounts receivable software and systems
Required Skills and Qualifications:
To be successful in this role, you will require:
- Bachelor's degree or equivalent education and related training
- Master's in Business Administration (MBA) preferred
- 7 years of experience in Insurance or Accounts Receivables related experience
- Managerial/leadership experience with supporting educational background
- Understanding of revenue recognition principles according to relevant accounting standards (e.g., GAAP, IFRS)
- Experience in creating and managing budgets and forecasting receivables
- Strong negotiation and communication skills
- Ability to identify and implement process improvements to streamline accounts receivable functions
- Proficiency in analyzing data to identify trends and opportunities for improvement
- Understanding of relevant accounts receivable software and technology
- Experience in leading and managing accounts receivable projects
- Excellent leadership skills to motivate, coach, and develop a high-performing accounts receivable team
