Bausch + Lomb
Manager of Returns and Cash Applications
Bausch + Lomb, Bridgewater, New Jersey, us, 08807
Bausch + Lomb (NYSE/TSX: BLCO) is a leading global eye health company dedicated to protecting and enhancing the gift of sight for millions of people around the world—from the moment of birth through every phase of life. Our mission is simple, yet powerful: helping you see better, to live better.
Our comprehensive portfolio of over 400 products is fully integrated and built to serve our customers across the full spectrum of their eye health needs throughout their lives. Our iconic brand is built on the deep trust and loyalty of our customers established over our 170-year history. We have a significant global research, development, manufacturing and commercial footprint of approximately 13,000 employees and a presence in approximately 100 countries, extending our reach to billions of potential customers across the globe. We have long been associated with many of the most significant advances in eye health, and we believe we are well positioned to continue leading the advancement of eye health in the future.
This role is responsible for leading and managing the Expired Pharmaceutical Returns and Cash Application functions, ensuring the accuracy and timely processing of return credits and cash applications across all business units. The position oversees team performance, ensures compliance with policies, resolves issues, and collaborates effectively with internal and external stakeholders to support business objectives.
Key Responsibilities:
Expired Pharma Returns Management:
Oversee the end-to-end Expired Pharma Returns process, ensuring timely and accurate processing of return credits in accordance with company policies.
Allocate and prioritize team workload to meet daily processing objectives, providing ongoing training, coaching, and performance evaluations.
Analyze returns data to verify accurate pricing, minimize return deductions, and identify process improvements.
Create and update reports to track return trends, compliance with SOPs, and overall performance.
Manage the relationship with third-party data processors (e.g., Inmar), ensuring smooth operations and timely resolution of issues.
Handle escalations related to high-profile customer inquiries, addressing errors and ensuring customer satisfaction.
Build and maintain strong relationships with internal stakeholders, including Warehouse, Accounts Receivable, Account Services, Rebate Administration, Contracts, and Pricing teams, to ensure cross-functional alignment.
Cash Application Management:
Lead the Cash Application team in processing all cash postings and applications for various business units, ensuring accuracy and adherence to SOPs.
Assign and prioritize team tasks, provide training and coaching, and conduct performance evaluations to maintain high standards of service.
Work closely with banks to manage ‘lockbox’ files and resolve issues related to late or incorrect postings and deposits.
Prepare and maintain a comprehensive ‘cash log’ to reconcile Accounts Receivable cash activity accurately.
Monitor AR bank accounts, credit card merchant accounts, and payment processors; resolve related inquiries, issues, and errors promptly.
Collaborate with Treasury to support cash forecasting activities.
Prepare journal entries, determine cash accruals, and reconcile Cash Clearing General Ledger (GL) accounts.
Address system-related user errors and ensure seamless system file transfers.
Develop and distribute month-end reports, including credit card fee analysis and cash activity logs.
Conduct User Acceptance Testing (UAT) and update SOPs for new bank setups, system changes, or process updates.
Required Education, Skills & Experience:
Must have experience with pharmaceutical wholesale distributors and Account Receivable (AR) processes.
Minimum 5 years’ related experience, with at least 3 years in a managerial role.
Bachelor’s degree in Business, Finance, Accounting or a related field preferred.
Proiciency in SAP S/4 HANA is required.
Strong skills in Microsoft Excel, including pivot tables and V-lookups.
Understanding of SOX guidelines and procedures.
Detail-oriented with the ability to appreciate the broader business context.
Core Competencies:
Ability to manage high volumes of work while juggling multiple priorities in a dynamic environment.
Demonstrates tenacity, drive, and adaptability with a professional and tactful demeanor.
Strong problem-solving skills and sound judgement in making decisions.
Excellent leadership abilities, with effective communication skills to motivate and guide team members.
Ability to build and maintain strong relationships across all levels of the organization.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Job Applicants should be aware of job offer scams perpetrated through the use of the Internet and social media platforms.
To learn more please read Bausch + Lomb's Job Offer Fraud Statement (https://performancemanager.successfactors.eu/doc/custom/BauschLomb/Bausch_job_posting_statement.docx) .
Our Benefit Programs: Employee Benefits: Bausch + Lomb (https://www.bausch.com/careers/benefits/)
Applicants must be authorized to work for ANY employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.
#LI-KF1
Our comprehensive portfolio of over 400 products is fully integrated and built to serve our customers across the full spectrum of their eye health needs throughout their lives. Our iconic brand is built on the deep trust and loyalty of our customers established over our 170-year history. We have a significant global research, development, manufacturing and commercial footprint of approximately 13,000 employees and a presence in approximately 100 countries, extending our reach to billions of potential customers across the globe. We have long been associated with many of the most significant advances in eye health, and we believe we are well positioned to continue leading the advancement of eye health in the future.
This role is responsible for leading and managing the Expired Pharmaceutical Returns and Cash Application functions, ensuring the accuracy and timely processing of return credits and cash applications across all business units. The position oversees team performance, ensures compliance with policies, resolves issues, and collaborates effectively with internal and external stakeholders to support business objectives.
Key Responsibilities:
Expired Pharma Returns Management:
Oversee the end-to-end Expired Pharma Returns process, ensuring timely and accurate processing of return credits in accordance with company policies.
Allocate and prioritize team workload to meet daily processing objectives, providing ongoing training, coaching, and performance evaluations.
Analyze returns data to verify accurate pricing, minimize return deductions, and identify process improvements.
Create and update reports to track return trends, compliance with SOPs, and overall performance.
Manage the relationship with third-party data processors (e.g., Inmar), ensuring smooth operations and timely resolution of issues.
Handle escalations related to high-profile customer inquiries, addressing errors and ensuring customer satisfaction.
Build and maintain strong relationships with internal stakeholders, including Warehouse, Accounts Receivable, Account Services, Rebate Administration, Contracts, and Pricing teams, to ensure cross-functional alignment.
Cash Application Management:
Lead the Cash Application team in processing all cash postings and applications for various business units, ensuring accuracy and adherence to SOPs.
Assign and prioritize team tasks, provide training and coaching, and conduct performance evaluations to maintain high standards of service.
Work closely with banks to manage ‘lockbox’ files and resolve issues related to late or incorrect postings and deposits.
Prepare and maintain a comprehensive ‘cash log’ to reconcile Accounts Receivable cash activity accurately.
Monitor AR bank accounts, credit card merchant accounts, and payment processors; resolve related inquiries, issues, and errors promptly.
Collaborate with Treasury to support cash forecasting activities.
Prepare journal entries, determine cash accruals, and reconcile Cash Clearing General Ledger (GL) accounts.
Address system-related user errors and ensure seamless system file transfers.
Develop and distribute month-end reports, including credit card fee analysis and cash activity logs.
Conduct User Acceptance Testing (UAT) and update SOPs for new bank setups, system changes, or process updates.
Required Education, Skills & Experience:
Must have experience with pharmaceutical wholesale distributors and Account Receivable (AR) processes.
Minimum 5 years’ related experience, with at least 3 years in a managerial role.
Bachelor’s degree in Business, Finance, Accounting or a related field preferred.
Proiciency in SAP S/4 HANA is required.
Strong skills in Microsoft Excel, including pivot tables and V-lookups.
Understanding of SOX guidelines and procedures.
Detail-oriented with the ability to appreciate the broader business context.
Core Competencies:
Ability to manage high volumes of work while juggling multiple priorities in a dynamic environment.
Demonstrates tenacity, drive, and adaptability with a professional and tactful demeanor.
Strong problem-solving skills and sound judgement in making decisions.
Excellent leadership abilities, with effective communication skills to motivate and guide team members.
Ability to build and maintain strong relationships across all levels of the organization.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Job Applicants should be aware of job offer scams perpetrated through the use of the Internet and social media platforms.
To learn more please read Bausch + Lomb's Job Offer Fraud Statement (https://performancemanager.successfactors.eu/doc/custom/BauschLomb/Bausch_job_posting_statement.docx) .
Our Benefit Programs: Employee Benefits: Bausch + Lomb (https://www.bausch.com/careers/benefits/)
Applicants must be authorized to work for ANY employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.
#LI-KF1