Lockbox Manager Jobs in Chicago, IL (NOW HIRING)

At Bel, we are not just a company—we are a company on a Mission, built on 160 years of bold innovation, family values, and a commitment to social purpose. With beloved brands like Babybel®, GoGo squeeZ®, The Laughing Cow®, and Boursin®, our snacking solutions bring more than joy; they want to serve as a force for good. Our U.S. Mission? To help close the critical 80% nutrition gap by making it easier for Americans to eat more fruits, veggies, and dairy as part of their daily lives.

The company has headquarters in Chicago and New York City and operates 4 manufacturing plants in Little Chute, WI; Brookings, SD; Traverse City, MI; and Nampa, ID.#IWorkForAllForGood

Job Description Summary

The Accounts Receivable & Deduction Analyst is responsible for the full accounting life cycle management of a specific portfolio of customers and the day-to-day operations of the Accounts Receivable & Deduction department. This role will manage the deduction process, ensure timely posting of customer payments, follow-up on past due invoices and provide detailed analysis of all deductions to ensure accurate and timely reconciliation and resolution. In addition, this role will participate in supporting special departmental initiatives and projects when assigned. This position will be set in a fast-paced environment and will require accuracy, time management, and flexibility.

Accounts Receivable (AR) & Deduction Analyst Essential Duties and Responsibilities

• Cash application: Manages daily cash receipts, retrieves lockbox deposits and ACH/EFT reports; creates electronic files and performs cash application. Maintain tracking files and make updates daily.
• AR Balances: Collaborates with the Treasury group to reconcile the general ledger and bank accounts.
• Deductions: Responsible for deduction research and clearing in a timely manner: Assess open Debit Memo’s ensuring consistent, timely & accurate reporting and reconciliation.
• Websites: Monitors customer-based websites to obtain deduction and payment documentation.
• EDI: Utilizes EDI platform to retrieve remittance details and solve invoicing issues.
• Brokers: Prepare and process broker check requests, maintaining files and preventing deductions from occurring by processing check requests timely.
• Escalations: Follow guidelines for proper escalation of unresolved items.
• Credibility: Establish relationships cross-functionally and with Customers / Brokers to maintain a steadfast focus on achieving goals and meeting Key Performance Indicator (KPI) targets.
• DEALS: Provides internal support cross-functionally regarding deals that can be closed or remain open due to unresolved deduction balances. Utilize trade management tool.
• Collections: Monitor customer accounts, identifying past-due payments. Follow up with customers on past-due invoices via phone and/or email. Manage collection efforts. Maintain detailed records of collection activities, including communication of payment arrangements, and any actions taken.
• Dispute Resolution: Investigate and resolve customer inquiries, deductions, billing disputes and/or past due invoices. File claims for all invalid deductions. Handle unique or complex billing scenarios.
• Communication: Value added and action-oriented collaboration cross-functionally to Inform others of any specific issues or trends.
• Credit Reviews: Verify the creditworthiness of customers, setting credit limits, and monitoring accounts.
• Accounting Support: Prepare audit files (external, internal and tax) and month-end / fiscal year analyses.
• Other duties: All other duties & special projects as assigned by direct manager or senior management.

Qualifications and Competencies

• High School Diploma or equivalent required; Some accounting college coursework is preferred.
• 5+ years of related AR experience required.
• 3+ years related experience in a deduction/collection role, analysing and reconciling items such as: Trade/Billbacks, Shortages, Logistic Penalties, Spoils and/or other AR deduction miscellaneous items.
• Experience working with Trade Fund/Promotion Management tools preferred.

• Highly proficient technology skills including ERP SAP ECC [or SAP HANA S4] systems and Microsoft Suite [specifically Excel, Word, and Power Point] required.

• Ability to work independently and as part of a team; Strong organizational and time management skills.
• Flexibility and adaptability: Readiness to adapt to different workflows, communication styles, and priorities as needed to effectively collaborate with various departments and external entities.

• Possesses high credibility, integrity, and adaptability: Effective in establishing rapport and building productive relationships with team members and cross-functional partners.
• Demonstrates professionalism & excellent interpersonal and communication skills (written and verbal).
• Exceptionally detailed and organized, with the ability to step back and analyze for anomalies.

Performance Attributes: Business agility, adaptability, efficiency, accuracy, timeliness, competence, resourceful, and thoroughness of work performed; ability to quickly learn new concepts and processes; drive to take initiative and to improve processes; organized and good record keeping skills; ability to gain the trust and respect of others; maintain the integrity of confidential business and product information; ability to communicate effectively and develop good working relationships with all levels of the company; ability to work with and through others to accomplish goals & objectives of the Company.

Acknowledgement: This job description describes the general nature and level of work performed by employee assigned to this position. It does not state or imply that these are the only duties and responsibilities assigned to the job. The employee may be required to perform other job-related duties as requested by the Bel management team. All requirements are subject to change over time and to possible modifications to reasonably accommodate individuals with a disability.

Total Rewards

• Base Salary: $60,000 - $70,000 - non-exempt
• Bonus Opportunity: 5%
• PTO and Medical, Dental and Vision Benefits from Day 1
• 401k Match
• Fully Remote

Bel Brands is an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran status, disability status or any other basis protected by applicable federal, state, or local laws. Bel Brands also prohibits harassment of applicants or employees based on any of these protected categories. It is also Bel Brand’s policy to comply with all applicable federal, state and local laws respecting consideration of unemployment status in making hiring decisions.

Bel Brands is committed to recruiting, hiring and promoting people with disabilities and veterans. If you need an accommodation or assistance in using the website, please call 312-462-1500.

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