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Collections Specialist - Toronto - Full Time

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Date: Jul 14, 2021

Location: Toronto, ON, CA

Company: LifeLabs

About Us

At LifeLabs, we are focused on our vision of empowering a healthier you!  We are the largest community diagnostics laboratory in Canada with over 350 collection centres, 16 laboratories and service over 20 million patients each year.  

Agile, Customer-centred, Caring, Teamwork - We live our values every day in what we do to help our patients and healthcare providers.  With over 6,000 employees, we all make a difference and that’s why our people are so important to us.  

This is an exciting time to join our LifeLabs team, grow your career with us and support numerous business initiatives, innovations, best practice and business development opportunities.

Reporting to Manager, Accounts Receivable. Purpose of the Role: Responsible for the timely review and collections of assigned portfolio, consisting of regional and national Business to Business (B2B). The position will require a high-level of professionalism, meeting or exceeding Key Performance Metrics (KPM), adhering to the strict privacy guidelines and taking the lead to mitigate the risk of bad debt and impact to cash flow. Candidate must demonstrate excellent organization skills, be efficient, have a high degree of business acumen, accurate a persistent.


Core Accountabilities:

• Manage portfolio assigned to reduce DSO, DCSO, Bad Debt, W/O improve Cash Flow and meet Key Performance Indicators (KPI)

• Participate and Schedule in periodic status update meetings with Key Account Managers (KAMS), Business Development Managers (BDMS) and management

• Maintain detailed online documentation of collection action taken and correspondence between customer (external and internal) regarding issues impacting payment

• Research and analyze accounts e.g. payment patterns/behaviors, sales history and previous collection steps prior to contacting debtors

• Reconcile Complex Billing and Payment issues

• Professional communication and appropriate etiquette required at all times

• Follow up with customers promptly on invalid claims to secure repayment

• Deliver on the established KPI scorecards

• Consistently strive for productivity gains to minimize controllable costs and implement industry best collection practices

• Educate customers on LifeLabs terms and various payment/billing options

• Customer interface and point of contact for the cash application team relating to payment allocation including follow-up of unresolved debit notes and invoicing disputes

• Prioritize efforts and determine the most effective means of collections

• Recommend customers to legal or third party action as deemed necessary

• Follow up with various departments within the business to resolve customer issues relating delivery of goods/services

• Request appropriate adjustments and corrections in accordance with Standard Operating Procedures (SOP)

• Comply/Update and participate in customer specific invoicing requirement discussion


Minimum Hiring Requirements:

• Post-Secondary school diploma/degree in business related field of finance/economics or relative work experience

• 3 years Collections experience in high volume Business to Business(B2B)/Business to Consumer environment(B2C) (min 1,000 Accounts)

• Strong Accounting knowledge

• High volume B2B experience preferred

• Strong reconciliation and analytical skills

• Customer driven results oriented

• Ability to engage key stakeholders in the resolution process for collections investigation


LifeLabs is committed to building an inclusive environment and will provide accommodations in accordance with the AODA – Accessibility for Ontarians with Disabilities Act. Please indicate in your application any accommodations you will require throughout the recruitment process.  Alternatively please contact our corporate offices main line to be directed to a member of the Talent Acquisition team at  (416) 675-4530. 


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