Accounts Receivable Manager, Fairmatic
AI-powered fleet insurance
Job no longer available
AI-powered fleet insurance
101-200 employees
Job no longer available
101-200 employees
Company mission
To make roads safer, one fleet at a time.
Role
Who you are
- The ideal candidate will have a strong background in accounts receivable, excellent analytical skills, and experience in the insurance industry
- Bachelor’s degree in Accounting, Finance, Business Administration, or a related field
- 5+ years of experience in accounts receivable and/or accounting, with at least 2 years in a leadership role
- Experience in the insurance industry
- Strong understanding of accounting principles, financial reporting, and collections processes
- Excellent analytical skills with the ability to interpret financial data and make informed decisions
- Proficient in accounting software and Microsoft Office Suite, particularly Excel
- Strong communication, negotiation, and interpersonal skills
- Ability to work independently in a fast-paced, start-up environment
- Detail-oriented with strong organizational and time management skills
What the job involves
- The Accounts Receivable Manager will play a crucial role in managing the company’s revenue stream by ensuring the efficient collection of payments and maintaining healthy cash flow
- This individual will oversee the entire accounts receivable process, from invoicing to payment collection, while also managing relationships with agencies, carriers, and internal stakeholders
- Accounts Receivable Management: Oversee and manage the entire accounts receivable process, ensuring timely and accurate invoicing, payment application, and collection of outstanding balances
- Monitor accounts to identify and resolve discrepancies, delinquent accounts, and uncollectible balances
- Develop and implement strategies to reduce Days Sales Outstanding (DSO) and improve cash flow
- Client Relationship Management: Build and maintain strong relationships with agency partners to ensure smooth communication and prompt payment of invoices
- Address client inquiries and disputes in a professional and timely manner, working to resolve issues while maintaining positive relationships
- Month-End Close Reconciliations and Journal Entries: Review monthly reconciliations of accounts receivable sub-ledger to the general ledger, ensuring accuracy and completeness
- Prepare and post journal entries related to accounts receivable, including adjustments for bad debt, credit memos, and revenue recognition
- Assist in the preparation of month-end financial statements by providing accurate and timely accounts receivable data
- Team Leadership: Lead and mentor a small team of accounts receivable specialists, providing guidance, training, and support to ensure team success
- Establish clear goals and performance metrics for the team, conducting regular performance evaluations
- Reporting and Analysis: Prepare and present regular reports on accounts receivable performance, including ageing reports, cash flow forecasts, and collection metrics
- Analyze data to identify trends, risks, and opportunities for improvement in the accounts receivable process
- Manage Carrier Reporting Process, including reconciling premiums with Data Feed/bordereau reports
- Compliance and Risk Management: Ensure compliance with company policies, industry regulations, and accounting standards
- Collaborate with the finance and legal teams to mitigate risks related to credit and collections
- Process Improvement: Identify and implement process improvements to enhance the efficiency and effectiveness of the accounts receivable function
- Leverage technology and automation tools to streamline processes and reduce manual work
Our take
Fairmatic is an AI-powered commercial auto insurance company creating a new insurance category through its data-driven approach that rewards safety with savings. By leveraging AI-powered technology, Fairmatic is providing an easy way for drivers to monitor and improve their driving, in order to make the roads a safer place.
Through this new approach to insurance, Fairmatic is unlocking a better understanding of risk, ensuring fleets are only evaluated based on factors that are within their control. Diverging from traditional insurance models, which rely on historical data, Fairmatic is incentivizing fleets for safer driving and not penalizing them for unavoidable actions.
There is a great opportunity to reframe the insurance industry and this is something Fairmatic is taking on. Through successfully scaling the business and gaining funding from investors, Fairmatic is in a prime position to further strengthen its position as a leader in AI innovation.
Steph
Company Specialist at Welcome to the Jungle
Company
Funding (2 rounds)
Mar 2023
$46m
SERIES B
Aug 2022
$42m
SERIES A
Total funding: $88m
Company benefits
- Unlimited PTO!
- Medical, dental, and vision coverage
- Life and disability insurance Learning and development program and stipend
- Stipends for wellness and entertainment
- Fully remote work supplemented with fun in-person events
- Paid company trips both nationally and internationally
- Awesome Fairmatic gifts and swag!
Company HQ
Civic Center, New York, NY
Leadership
Jonathan Matus
(Founder & CEO)Previously founded Zendrive where they served as the CEO. Also worked in multiple marketing roles at Google and Facebook.
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