Senior Accounting Analyst

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Location:

Buffalo, NY, US, 14213

Rich’s, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in food service, retail, in-store bakery, deli, and prepared foods, among others.

With more than 13,500 associates working globally in 100 countries and annual sales of $5.9 billion, Rich’s is a global leader with a focus on everything that family makes possible. Rich’s®—Infinite Possibilities. One Family.

Responsible for managing global processes related to assigning/monitoring credit risk for customers, ensuring the timely and effective collection of accounts receivable, and accurately applying customer payments. This role demands a combination of strong analytical skills, excellent communication abilities, and a customer-focused approach. Working closely with the Enterprise Service Organization (ESO) to develop simple, standard, and global processes are strategic priorities expected from this position.

Accounts Receivable Process Management (60%)

• Evaluate, define and monitor team accountabilities and productivity metrics, reporting back to management. Leverage automated reporting capabilities from High Radius CAA and SAP Receivables Management Disputes. Prepare, provide analysis and distribute related reports as necessary.
• Lead team effort to drive continuous improvement and optimization of auto-cash hit rate (improve customer remittance backup, move to ACH CTX payments, eliminate FRF handwritten checks into lockbox, etc…).
• Monitor and manage High Radius errors to continuously drive efficiencies (CNI, PRLF, Reason Code errors, MICR, etc)
• Design, set-up, communicate and re-balance as necessary, associate customer portfolios.
• Monitor overall customer account aging for open line items falling under the responsibility of the Accounts Receivable & Invoicing associates.
• Evaluate and implement accounts receivable-related banking processes and interfaces to improve efficiency.
• Assess consolidation opportunities and analyze future need for all corporate lockboxes, defining impact to A/R and customers (internal & external) and work with bank to implement changes. Assume primary banking liaison responsibility.
• Supporting the accounting department with all aspects of the general ledger, including compliance and process controls
• Direct month-end close process for Accounts Receivable
• Perform Monthly Analysis of specific General Ledgers and ensuring accuracy of postings & clearings
• Monthly Bank Reconciliations for all lockbox accounts.
• Evaluate, develop and provide oversight of cash handling and reconciliation process for DSD businesses.
• High Radius and SAP Disputes liaison between System Analyst team and Accounts Receivable/Collections
• Approve team requests for reimbursements to customers of credit balances (within approval limit)
• Train and enforce appropriate transaction processing as it relates to the Escheatment (abandoned property) process regulations eliminating RPC risk and exposure from improper handling.

Credit and Collections (30%)

• Assign and monitor credit risk on new and existing key customers, including reviewing country risk on international customers
• Resolve outstanding aged items that have been escalated from ESO
• Monitor Key Customers balances
• Seek out financial detail to analyze assigned portfolio for financial risk
• Provide strong…