Job Description
Are you looking for your next opportunity?
Sompo has a unique opportunity for an VP, Cash & Collections to join our Finance team.
This role will lead cash management, accounts receivable, and collections processes, ensuring operational excellence, compliance, and strong stakeholder relationships to maximize cash flow and reduce financial risks.
Location: This position can be based out of our Charlotte, NC office . We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.
Our business, your impact, our opportunity:
What you’ll be doing:
Execute the strategic vision for cash management and collections operations in alignment with the company's financial goals and objectives.
Lead initiatives to streamline and optimize cash flow processes, ensuring efficient use of resources and alignment with industry best practices.
Oversee cash forecasting, liquidity management, and banking relationships to ensure adequate funding and operational efficiency. Monitor and analyze cash flows, identifying opportunities for improvement and implementing strategies to enhance cash position. Ensure compliance with financial regulations and internal controls related to cash management.
Establish and manage effective collections processes to minimize overdue receivables and bad debt. Develop and maintain key metrics to monitor and report on the performance of collections activities. Collaborate with internal teams, including underwriting, claims, and finance, to address payment issues and resolve disputes.
Lead, mentor, and develop a high-performing team of professionals across cash management and collections functions. Foster a culture of accountability, collaboration, and continuous improvement within the team. Ensure appropriate training and development opportunities for team members.
Build and maintain strong relationships with business partners, brokers, and internal stakeholders to ensure effective communication and coordination. Represent the cash and collections function in cross-functional meetings and initiatives.
Drive the implementation of technology solutions to enhance cash management and collections processes. Identify opportunities to automate processes and improve efficiency through innovative tools and systems.
Develop and deliver regular financial reports and analysis to senior leadership, providing insights into cash flow trends, collections performance, and areas for improvement. Ensure accuracy and timeliness of financial data related to cash and collections.
What you’ll bring:
Bachelor’s degree in Finance, Accounting, Business Administration, or a related field; MBA or CPA preferred.
10+ years of experience in cash management, accounts receivable, or collections, with at least 5 years in a senior leadership role.
Proven expertise in financial analysis, cash flow forecasting, and collections strategy.
Strong leadership skills with a track record of managing and developing high-performing teams.
Proficiency in financial management systems and tools; familiarity with automation technologies is a plus.
Knowledge of North American financial regulations and compliance requirements.
At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:
- Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution
- Pharmacy benefits with mail order options
- Dental benefits including orthodontia benefits for adults and children
- Vision benefits
- Health Care & Dependent Care Flexible Spending Accounts
- Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children
- Company-paid Disability benefits with very competitive salary continuation payments
- 401(k) Retirement Savings Plan with competitive employer contributions
- Competitive paid-time-off programs, including company-paid holidays
- Competitive Parental Leave Benefits & Adoption Assistance program
- Employee Assistance Program
- Tax-Free Commuter Benefit
- Tuition Reimbursement & Professional Qualification benefits
Who we are and what we stand for:
At Sompo, our shared purpose is to create meaningful value for clients, communities, and each other. We strive to foster a workplace where everyone feels respected, included, and empowered to excel. As a global organization, we embrace diversity and champion equal opportunity. Guided by our core values—Accountability, Agility, Collaboration, Development, and Integrity—we build trust and support one another to achieve our goals worldwide. Life at Sompo page
Our values come to life in how we hire and grow talent. Employment decisions are based on qualifications, merit, and organizational need, and we strive to ensure equitable access to opportunities so everyone can do their best work. If you need an accommodation for any part of the application process, please contact the recruiter in charge.
