Theresa Thompson
Sacramento,USA
Summary
Professional with strong background in credit management, offering expertise in risk assessment, credit analysis, and debt recovery. Proven track record in enhancing financial processes and contributing to organizational profitability. Collaborative team player recognized for adaptability and achieving results under changing conditions. Possesses key skills in financial analysis, customer relations, and compliance, aligned with high standards and results-driven approach. Specialties: Accounts Receivable, Cash Application, Billings-Contract billing; Construction and Government billings. Account Reconciliations Process Development & Documentation. Managed portfolios up to 96 million and >4780 accounts. Proficient in the following: Zuora, Sale Force; Net Suite, Sage, SAP, Smartsheet and Excel (Pivot Table, V-look up). Knowledgeable in GAAP Accounting Principles.
Overview
19
19
years of professional experience
Work History
Assistant Credit Manager/Sr. Credit and Collections Analyst
Ramos Oil
09.2023 - Current
- Conducted analyses of AR aging to identify overdue/delinquent accounts, contacts customers regarding overdue accounts and documents weekly collection activities ensuring that A/R days outstanding is consistent with internal collections targets.
- Establish matrix and KPIs for periodic management.
- Skilled in more complicated collections items that involve reading contracts and disseminating that information to the customers.
- Onboard all new Customers-Analyzed new account credit applications including credit reports and financial statements to determine customer’s creditworthiness. Utilized D&B as well as Hoovers for international accounts.
- Approve payment plans, discounts and refunds as needed.
- Demonstrated the ability to think strategically, understand complex business and financial data to develop innovative solutions.
- Supervise and manage the daily activities of the accounts receivable team of five, ensuring work is completed accurately and in a timely manner.
- Update the weekly cash collections forecast. Goal vs. received for upper management.
- Develop and train staff to achieve departmental objectives and provide regular evaluations of performance.
- Monitor and evaluate risk on an ongoing basis, anticipating and mitigating potential risks and identifying red flags for key business partners.
Credit and Collections Manager
Blue Sky Utility
01.2019 - 06.2023
- Conducted analyses of AR aging to identify overdue/delinquent accounts, contacts customers regarding overdue accounts and documents weekly collection activities ensuring that A/R days outstanding is consistent with internal collections targets.
- Created and maintained standard metrics reports and dashboards for team. Developed and implemented effective collection strategies to reduce outstanding accounts receivable and improve cash flow.
- Demonstrated the ability to think strategically, understand complex business and financial data to develop innovative solutions.
- Design, implement, and manage efficient and scalable customer payment collection procedures to minimize bad debt and mitigate risks. Establish policies that provide structure and standardization while incorporating a level of flexibility to meet the company's needs.
- Manage daily transactions and functions of collections, including payment posting within our various platforms (not limited to, Stripe, and Marketplace platforms, etc.), dunning letter preparations and deliveries, and accounts receivable follow-up.
- Establish matrix and KPIs for periodic management reporting packages.
- Skilled in more complicated collections items that involve reading contracts and disseminating that information to the customers.
- Onboard all new Customers-Analyzed new account credit applications including credit reports and financial statements to determine customer’s creditworthiness. Utilized D&B as well as Hoovers for international accounts.
- Approved payment plans, discounts and refunds as needed.
- Supervised and managed the daily activities of the accounts receivable team of three, ensured work was completed accurately and in a timely manner.
- Prepared quarterly bad debts reserve analysis for CFO.
- Resolved unapplied cash exceptions from the automatic cash application interface with the bank and resolved cash application disputes.
- Assisted in the transition of collections department to 3rd Party outsource team in India.
Collections & Billing Manager (Consultant-Interim)
Blue Mountain Construction Inc.
03.2018 - 01.2019
- Prepared and reviewed accruals and journal entries, GL reconciliations and variance analysis.
- Lead all monthly, quarterly, and annual billing processes, including invoicing and reconciliations.
- Researched, resolved, and processed customer claims/credits for invoices in conjunction with internal partners.
- Managed the accounts receivable process, ensuring timely invoicing and collection of payments from clients and subcontractors.
- Ensured all contracts comply with company policies and procedures, as well as applicable laws and regulations.
- Analyze and evaluate contract terms and conditions, identifying potential risks and ensuring mitigation strategies are in place, particularly regarding payment terms.
- Conducted analyses of AR aging to identify overdue/delinquent accounts in weekly meetings with team ensuring that A/R days outstanding were consistent with internal collections targets.
- Ran WIP to determine cost and expenses on to billed/unbilled contracts for upper management.
- Supervised activities of five full time associates, including but not limited to prioritizing workload: establishing individual goals and objectives for collection staff.
- Work closely with project managers, estimators, and other departments to ensure smooth project execution, efficient billing practices, and timely collections.
- Prepared monthly reserve analysis, ensuring adequate provisioning for bad debts.
- Processed all lien releases, stop notices and mechanic’s lines.
Senior Credit and Collections (Consultant)
Penumbra Inc.
04.2017 - 03.2018
- Lead the AR, Credit and Collections activities, including billing, cash collections, portfolio management, credit management, accuracy of collections processes including.
- Evolving our collections strategy with appropriate reminders, collections and deactivations or work stoppage.
- Processed credit card payments using Stripe.
- Up leveling our AR and collections teams through direct development and coaching.
- Designed and implemented effective reporting and forecasting models.
- Built relationships with customers and partners.
- Monitored collections and refund targets and provided appropriate reporting to internal stakeholders.
- Follow company guidelines regarding soft collections, since we provided a life-saving medical device.
- Worked with sales on billing issues regarding tier level pricing and MDF rebates.
Sr. Credit and Collections Analyst
Opera Media Works LLC
03.2012 - 04.2017
- Monitored A/R Aging Reports to determine priorities and maintain a satisfactory DSO for four companies,1257 accounts.
- Prepared monthly reserve analysis for bad debts by auditing delinquent accounts considered to be uncollectible to ensure maximum efforts have taken to collect.
- Updated the weekly cash collections forecast. Goal vs. received.
- Dealt with international currency, EMEA, PAC, South American, Ireland, South Africa.
- Worked with third party and first party collection agency regarding negotiating settlements, legal action on all bad debt items assigned to agency.
- Onboard all new Customers-Analyzed new account credit applications including credit reports and financial statements to determine customer’s creditworthiness. Utilized D&B as well as Hoovers for international accounts.
- Assisted with external/internal audit requests by compiling and validating information.
- Participated in system maintenance and upgrade testing. Work with Oracle Team to create statements and dunning notices for customers.
- Developed and maintained relationships with internal departments and served as subject matter expert for all cash applications, collections, account reconciliations, and month-end close related inquiries.
- Assisted with external/internal audit requests by compiling and validating information.
- Assistant in the transition of collection accounts to AdColony staff after my division was sold.
AR / Manager
ADS Construction/ Debris Removal
10.2010 - 02.2012
- Responsible for accurate and timely completion of A/R month-end closing process: preparation and review of accruals and journal entries.
- Prepared monthly reserve analysis, ensuring adequate provisioning for bad debts.
- Improve and enhance the cash application, collections, account reconciliations, and month-end closing processes.
- Prepared booked to billed reconciliation, perform aging unbilled analysis, and manage aging receivable collections.
- Billed special government projects adhering to government/state guidelines.
- Met all billing deadlines, reconciling billing records, and completing billing adjustments as needed.
- Resolved invoicing issues that arise due to unique billing requirements, project adjustments or systems issues, including indirect and direct rate adjustments.
- Billed municipalities for materials at recovery facilities, landfills, construction, and demolition debris.
- Reviewed contract terms and conditions for adherence to corporate guidelines.
- Responsible for daily cash posting for thirteen sub companies; balancing AR to GL at month end for each company.
Sr. Credit and Collections Analyst
Siemens Building/Fire
06.2006 - 09.2010
- Conducted accurate and timely completion of A/R month-end closing process.
- Monitored A/R Aging Reports to determine priorities and maintain a satisfactory DSO for two companies, which included 1150 accounts.
- Reviewed chargebacks, margin allowances, discount allowances, and MDF rebates.
- Processed credit request, adjustments and refunds as needed.
- Strong problem solving and troubleshooting skills with the ability to exercise judgment consistent with achieving organizational goals and strategies.
- Provided collections forecasting and regularly report on actual collections.
- Resolved unapplied cash exceptions from the automatic cash application interface with the bank and resolved cash application disputes.
- Assisted with external/internal audit requests by compiling and validating information.
Education
B.A. - Sociology/ Criminal Justice
SF State University
San Francisco, CAOracle OM/AR Super User Functions - Order to Cash
Redwood Shores, CA01.2017
Skills
- Debt recovery strategies
- Credit scoring models
- Credit policy development
- Dispute resolution
- Client retention strategies
- Credit control procedures
- Portfolio management
- Cash flow forecasting
- Payment negotiation
- Credit risk assessment
- Collection management
- Credit decision making
- Credit reports
- Application processing
- Mentoring and training
- Credit analysis
- Performance monitoring
- Policy implementation
- Performance improvements
Timeline
Assistant Credit Manager/Sr. Credit and Collections Analyst
Ramos Oil
09.2023 - Current
Credit and Collections Manager
Blue Sky Utility
01.2019 - 06.2023
Collections & Billing Manager (Consultant-Interim)
Blue Mountain Construction Inc.
03.2018 - 01.2019
Senior Credit and Collections (Consultant)
Penumbra Inc.
04.2017 - 03.2018
Sr. Credit and Collections Analyst
Opera Media Works LLC
03.2012 - 04.2017
AR / Manager
ADS Construction/ Debris Removal
10.2010 - 02.2012
Sr. Credit and Collections Analyst
Siemens Building/Fire
06.2006 - 09.2010
Oracle OM/AR Super User Functions - Order to Cash
B.A. - Sociology/ Criminal Justice
SF State University