Summary
Overview
Work History
Education
Skills
Timeline
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HEMALI RANA

Parsippany,NJ

Summary

Dedicated professional with comprehensive experience in managing large Global partner account portfolios, credit analysis, accounts receivable. Experienced Collections Lead bringing 10 years of success in sales and service positions. Eager to take on new role with long-term growth and advancement potential. Dynamic problem solver with first-rate skills in building relationships and resolving problems.

Overview

11
11
years of professional experience

Work History

Credit & Collections Lead

OKTA, INC
11.2021 - Current
  • Collections Management: Contact customers for payment of overdue invoices, update contact information, and coordinate with AR, Sales, and Legal teams on settlement negotiations and complex restructuring scenarios
  • Calculate and verify metrics related to invoices.
  • Portfolio Oversight: Manage partner collections portfolio of $50-80M/month, ensuring invoice payments align with agreed Net Terms.
  • Credit Evaluation: Review D&B Financial Data for credit checks on new customers and analyses credit opportunities.
  • Collaborate with AR and Billing teams to resolve billing issues and coordinate with Sales/Client Executives on contract, order, and invoice-related concerns.
  • Issue Escalation: Escalate complex partner account issues to management and organize meetings to address disputes related to contracts, pricing, and other critical areas.
  • Objective Ownership: Manage multi-quarter team objectives, ensuring accountability and successful outcomes.
  • Analyzed customer financial records to determine appropriate payment plan
  • Established a positive work environment for Collections Team members, fostering a culture of collaboration and continuous improvement.
  • Streamlined collections processes, resulting in increased productivity and reduced operational costs.
  • Enhanced team performance by providing ongoing training and support to Collections Specialists.
  • Maintained compliance with federal and state regulations governing debt collection activities, protecting the company from potential legal issues.
  • Created individualized development plans for team members, resulting in enhanced skill sets and increased employee satisfaction.
  • Managed a portfolio of delinquent accounts, resulting in successful recovery of outstanding balances while preserving customer relationships.
  • Reduced bad debt write-offs by monitoring high-risk accounts and taking timely corrective actions.
  • Improved collection efficiency by analyzing customer data and developing targeted action plans.
  • Assisted in the development of departmental policies and procedures, ensuring standardization of best practices throughout the team.
  • Negotiated payment arrangements with customers, ensuring mutually beneficial outcomes while minimizing financial risk to the company.
  • Closely monitored team performance metrics regularly for improvements or corrective measures necessary.
  • Resolved escalated customer disputes through mediation techniques and creative problem-solving approaches that preserved business relationships while recovering due payments.
  • Developed customized reports to track collection metrics, enabling management to make informed decisions on resource allocation and strategy adjustments.
  • Implemented new technology tools for better tracking of collection efforts, increasing efficiency and effectiveness across the department.

SENIOR CREDIT AND COLLECTIONS ANALYST/LEAD

AMETEK-VISION RESEARCH, INC
09.2018 - 10.2021
  • Managed global collection activities for accounts of up to 500 partners, resulting in improved financial performance. Initiated and led a successful Kaizen Project, reducing staff headcount by 50%.
  • Determined suitable credit terms and limits for new customers by assessing their payment histories and credit reports.
  • Streamlined interdepartmental communication to effectively manage credit holds and address any related concerns.
  • Achieved regulatory compliance by consistently completing filings and reporting in a timely and accurate manner.
  • Implemented process improvements for trade practices including invoicing, receipts, collections, and global analytics.
  • Collaborated with finance and sales leaders to effectively manage credit escalations and explore alternative payment options.
  • Financial Analysis and Reporting: Conduct balance sheet analysis, intercompany allocations, fixed assets review, and internal/external audits.
  • Drove finance initiatives for accuracy and efficiency, including implementing ERP systems and launching new products/processes.
  • Conducted ad-hoc analysis to provide additional insights.
  • Collaborated with cross-functional teams to identify opportunities for process improvement and increased efficiency.
  • Implemented effective strategies to enhance internal knowledge sharing by developing detailed documentation on standard operating procedures for a range of tasks.

SENIOR CREDIT COLLECTION ANALYST

LG ELECTRONICS INC.
10.2016 - 09.2018
  • Managed Chargeback operations to ensure accurate maintenance of KPI, DSO ratio reports, and overdue invoices.
  • Handled the cash forecast for a sizable National Account and collection portfolio, amounting to $5-10 billion in annual revenue.
  • Performed transaction and balance reconciliation to ensure accurate accounting of on-account funds and credit memos.
  • Enforced scheduled collection campaigns, consistently achieving targeted recovery rate.
  • Monitored customer accounts for payment delinquency and initiated collection efforts.
  • Played a key role in reducing bad debt expenses by identifying potential high-risk customers early in the sales cycle through comprehensive credit assessments.
  • Implemented effective dunning campaigns targeting overdue accounts for maximum recovery results while maintaining positive customer relationships.

CREDIT ASSOCIATE

SAMSUNG ELECTRONICS AMERICA CORPS.
04.2015 - 09.2016
  • Collaborated with management to address credit issues, ensuring compliance with customer payment terms and resolving disputes.
  • Managed sensitive client information securely and confidentially, adhering to all applicable data protection regulations and company policies.
  • Enhanced credit decision-making by analyzing financial statements and assessing the overall creditworthiness of potential clients.
  • Negotiated repayment terms with delinquent clients, resulting in successful debt recovery efforts and maintaining the overall health of the credit portfolio.
  • Maintained strong relationships with key external stakeholders such as regulators, auditors, and industry professionals to stay abreast of best practices and emerging trends.
  • Developed comprehensive risk assessments with detailed recommendations, ensuring robust credit policies and procedures.
  • Improved portfolio performance through diligent account management and regular reviews of existing credits.
  • Provided exceptional customer service, addressing client inquiries and resolving issues related to their credit applications promptly.
  • Delivered diverse departmental administrative support to personnel.

ACCOUNTING ANALYST

LET'S THINK WIRELESS LLC
10.2013 - 02.2015
  • Performed & processed accounts payable transactions and ensure that all invoices and staff reimbursements are paid accurately and under Finance policies and procedures.
  • Performed a general ledger balance sheet accounts reconciliations and bank reconciliations & assists in the month end close process.
  • Enhanced financial accuracy by conducting thorough analysis and reconciliation of accounts.
  • Maintained up-to-date knowledge of accounting regulations, industry standards, and best practices through continuous professional development activities.

STAFF ACCOUNTANT

WYNDHAM CORP.
06.2013 - 09.2013
  • Reconciled bank accounts up to 10M and prepares cash journal entries.
  • Computed and journalize foreign exchange variances for Canadian affiliate and book entries.
  • Performed monthly Balance Sheet and P&L account analysis to assure Balance Sheet and P&L integrity along with all related journal entries.
  • Assisted in month-end close process and preparation of monthly

Education

MBA - Finance

Montclair State University
Montclair, NJ
08.2021

Bachelor of Science - Accounting And Economics

Rutgers Business University
Newark, NJ
05.2013

Skills

  • Proficient in SAP, ORACLE, QuickBooks, PeopleSoft, Tableau, Sage Fixed Assets, and Hyperion Financial Management
  • Skilled in Microsoft Office Suite, VLOOKUP, Pivot Tables, and Macros
  • Experienced in data analysis, financial management, and risk management
  • Strong in account review, collections, account reconciliation, and payment posting
  • Competent in business writing, customer research, and outbound calling
  • Adept at records management, conflict resolution, and performance improvement
  • Capable of new hire training, team oversight, and relationship building
  • Goal-oriented with focus on sales and performance management

Timeline

Credit & Collections Lead

OKTA, INC
11.2021 - Current

SENIOR CREDIT AND COLLECTIONS ANALYST/LEAD

AMETEK-VISION RESEARCH, INC
09.2018 - 10.2021

SENIOR CREDIT COLLECTION ANALYST

LG ELECTRONICS INC.
10.2016 - 09.2018

CREDIT ASSOCIATE

SAMSUNG ELECTRONICS AMERICA CORPS.
04.2015 - 09.2016

ACCOUNTING ANALYST

LET'S THINK WIRELESS LLC
10.2013 - 02.2015

STAFF ACCOUNTANT

WYNDHAM CORP.
06.2013 - 09.2013

MBA - Finance

Montclair State University

Bachelor of Science - Accounting And Economics

Rutgers Business University

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