ANALYST, AR COMPLIANCE - COLLECTIONS
Location: Richmond Virginia
Time: 2 weeks ago
Analyst, AR Compliance - Collections
Corporate - Richmond
job requisition id
CarMax, the way your career should be!
About this job
CarMax is seeking an Analyst in Accounting at our home office in Richmond, Virginia. The Analyst is responsible for collecting on CarMax receivables due from various sources including but not limited to financed contracts, returned checks, liens not recorded and miscellaneous recovery items such as undisclosed liens. With minimal guidance, the position analyzes and executes the appropriate collection strategy within federal, state, & local collection laws and CarMax Compliance Policies. This position has authority to formulate, affect, interpret, and/or implement collection operating practices and to exercise discretion and independent judgment in determining the best course of action with respect to collection strategies.
In addition, the position requires in-depth communication of sensitive & complex information both written & verbal with key internal stakeholders. This associate must be a strong team player with an open mind and flexibility in working with peers who also demonstrates strong leadership in coaching fellow associates.
What you will do – Essential Responsibilities
- Perform collection activities including but not limited to initiating customer contact via telephone, and written documentation of all collection activities.
- Communicating sensitive & complex collection strategy/guidance both written & verbal to outside vendors, internal departments: Field Senior Management, Accounting, Legal, Finance Support, Asset Protection, Customer Relations, and CarMax Auto Finance.
- Analyze and record/capture appropriately all new collection accounts for root cause.
- Initiate process improvements based on root cause analysis including but not limited to Business Operations, Sales Operations, Financial Services, and Asset Protection.
- With minimal guidance, assess and execute appropriate collection strategy within federal, state, local collection laws and CarMax Compliance Policies.
- Perform skip-tracing research to locate customers and/or assets to further assess new strategies for collections.
- Perform general ledger activities including but not limited to account reconciliations, and journal entries.
- Review collections letters prepared by the Collection Support Team for accuracy and proper documentation. Provide direct feedback as appropriate.
- Leader within the team and coaching fellow associates within the team on their work product.
- Serve as a subject matter expert for accounts receivable in projects that span multiple departments and/or the company as new initiatives are deployed to meet business goals.
Qualifications and Requirements
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Engages with customers to actively understand needs and provides “win-win” solutions while resolving customer service issues in a positive and professional manner Ability to communicate complex messages both written and verbally to a wide variety of audiences
- Ability to communicate complex messages both written and verbally to a wide variety of audiences
- Ability to manage complex tasks in a changing environment, in a professional, responsive manner
- Ability to analyze data and reports; uses the information to make decisions
- Ability to organize work; prioritizes and manages time well
- Apply business knowledge, policies, laws, and experiences to produce results and make fiscally responsible decisions on behalf of CarMax; does so quickly if warranted
- Thinks organizationally, applying business knowledge and utilize resources to solve problems at the root cause and develop innovative solutions
- Proven self-starter capable of delivering exceptional results focus, problem solving skills and attention to detail with minimal guidance or instruction
- Ability to motivate others, including gaining buy-in to do the right thing for the right reason
- Ability to complete objectives in a timely manner while balancing time, multi-tasking, and interruptions
- Builds and maintains relationships
- Champion and adapt to change
- Must be able to sit onsite, as requested, at CarMax’s Home Office in Richmond, Virginia
Education and/or Experience
- Bachelor’s degree in accounting or finance preferred, or equivalent work experience required
- 4+ years of business-related experience required, including 3+ years of accounting, finance, or equivalent experience required, within that managing accounts receivable and customer service experience with direct customer interaction highly preferred
- Strong accounting skills including general knowledge of generally accepted accounting principles (GAAP)
- Experience and knowledge in Cloud-based ERP solutions, robotics, OCR technologies, and various automations desirable
- Knowledge of Gramm Leach Bliley Act (GLBA), Fair Debt Collections Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), Telephone Consumer Protection Act (TCPA) and/or Servicemembers Civil Relief Act (SCRA) is a plus
- Advanced level of Microsoft Excel required (i.e., Filtering, VLOOKUP, Subtotals, Shortcuts, Pivot tables)
- Proficient in Microsoft Word, PowerPoint, Teams, and Outlook required
- Proficient in Microsoft Access is a plus
- Experience with data analytics using querying language (SQL and Teradata SQL) is a plus
CarMax disrupted the auto industry by delivering the honest, transparent and high-integrity experience customers want and deserve. This innovative thinking around the way cars are bought and sold has helped us become the nation’s largest retailer of used cars, with over 200 locations nationwide.
Our amazing team of more than 25,000 associates work together to deliver iconic customer experiences. Along the way, we help every associate grow their career and achieve their best, at work and in their community. We are recognized for our commitment to training and diversity and are one of the FORTUNE 100 Best Companies to Work For®.
CarMax is an equal opportunity employer, and all qualified candidates will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, genetic information, national origin, protected veteran status, disability status, or any other characteristic protected by law.
Upon an applicant's request, CarMax will consider reasonable accommodation to complete the CarMax Job Application.