IFEOMA EUCHARIA OKOLI
Toronto,ON
Summary
A result and data driven finance professional with proven track record of strategic leadership and business development. Successfully led initiatives that resulted in significant revenue growth and enhanced client relationships. Demonstrated expertise in financial planning , working capital management and operational efficiency.
Possess vast experience working with major ERP systems like Salesforce, DOMO, SAP, Genaisys, Oracle, My Fleet, GetPaid, Tableau, Etc.
Overview
9
9
years of professional experience
Work History
Customer Experience Partner- Lead Logistics
Maersk Logistics
04.2024 - Current
- Managed 20+ strategic accounts, including communication, operations, documentation, shipment tracking and co-ordination between various teams across the globe.
- Support the commercial team and program managers by providing ideas for process improvements, product offerings and help improve customer experience
- Ensuring payments, finances of customers are in order and outstanding is settled with the help of commercial and finance teams
- Ensuring Invoicing timeliness, RICC and Finance KPIs are met
- Provided outstanding service to all individuals, promoting effective, and lasting business relationships.
- Achieved successful client outcomes by identifying and addressing their unique needs and goals.
- Stayed informed on industry developments and market trends to gain competitive advantage.
- Networked with other professionals and organisations to expand contacts and opportunities.
Accounts Receivable Representative
Toronto Hydro Electric Systems
05.2023 - 04.2024
- Manage strategic commercial accounts, monitor and track bills, perform ageing analysis, negotiate payment arrangements with customers on outstanding balances, ensure accurate cash application, share periodic statement of account, reconcile customer accounts, and resolve any disputes & discrepancies
- Maintain weekly reports on approved grant for eligible customers, active payment plans, ageing reports, dispute and bill adjustment report
- Liaise with external agencies to review customers eligibility for funds assistance programs, city inspectors for defaults or illegal tampering of equipment, contractors and field staff as required, coordinating activities in the collections and severance process to optimise the collection of outstanding account balances
- Streamlined billing processes for improved efficiency and reduced errors.
- Ensured timely collection of payments with consistent follow-up on outstanding invoices. Managed approximately 30 incoming calls, emails and faxes per day from customers, enhanced cash flow by promptly and accurately processing accounts receivable transactions.
- Optimised revenue recognition with precise review of contract terms for accurate invoice generation.
Billing/Collections Lead (EMEA)
General Electric - GE Vernova
04.2022 - 04.2023
- Achieved 95% billing accuracy target, exceeded annual collections target of $110M by 3.3%, resolved unbilled disputes that led to release of $58M trapped revenue
- Forecast and report regional billing/collection estimates, identification of annual & quarterly budget & target setting
- Liaise with Regional leaders to manage and communicate objectives, share same with the Global thread team
- Notify customers of outstanding payments, track invoice ageing, initiate dunning process for delinquent customers, liaise with legal for blacklisted accounts/litigations, accurately apply cash and wires to customer accounts, review unapplied cash report monthly, reconcile customer accounts and payments monthly, and follow up for withholding tax certificates
- Implement and drive lean approaches, promote best practice and continuous process improvement measures across the region, review budget vs actual performance for all relevant metrics
- Collaborated with cross-functional teams to develop comprehensive debt recovery solutions for complex cases.
- Liaised effectively with sales and customer service departments to coordinate efforts for maximizing revenue collection while maintaining client satisfaction.
- Analyzed aged receivable reports regularly to prioritize accounts requiring immediate attention.
- Established a positive work environment for Collections Team members, fostering a culture of collaboration and continuous improvement.
- Developed customized reports to track collection metrics, enabling management to make informed decisions on resource allocation and strategy adjustments.
Invoice to Cash Accountant
General Electric - GE Healthcare
11.2018 - 04.2022
- Achieved record past due percentage of 27%, Negotiated and saw through payment plan for sticky accounts of circa $30M, which led to significant reduction of bad debt reserve
- Carry out credit assessment to determine credit worthiness status of customers, ensure that credit process/approvals are aligned with Global Authority Matrix, advice on the best possible payment term to extend, initiate approvals from salesforce
- Track invoice ageing, monitor and evaluate customers who exceed their credit terms, call/email/visit customers before commencing dunning process, and refer to legal for delinquent customers
- Manage collection, review cash applications, reconcile accounts, flag watch listed/blacklisted accounts, provide excellent customer service, deploy payment plans, log all disputes and assist in resolving all pending disputes
- Monitor cash flow levels, manage Letter of credit and post-dated cheques, confirm and schedule all deductibles, obtain on timely basis remittance advice and Withholding tax receipts, review bad debt provision rates, ensure accuracy with aged AR reports, assist external auditors with circulars and any other information required
- Conducted thorough reviews of expense reports, identifying potential areas for cost savings within the organisation's operational budget.
- Managed relationships with banking institutions, negotiating favorable terms for deposits and withdrawals while maintaining strong communication lines.
- Participated in cross-functional teams tasked with identifying ways to improve departmental performance and financial controls.
- Developed comprehensive training materials to educate staff members on best practices surrounding cash handling procedures.
- Assisted in budget preparation and analysis, providing valuable insights into cash flow trends and projections.
- Provided support during annual audits, ensuring a smooth process through diligent record-keeping and documentation.
Credit Controller
Global Lifting Services Limited
04.2016 - 10.2018
- Attend the weekly Outstanding meeting to provide a detailed report for all overdue amounts above 30 days and the reason as to why they are still outstanding, engage customers via telephone calls, emails, site visits etc
- Track costs, monitor and analyze sales to CM margin, identify and report irregularities
- Monitor project milestones and payment terms, ensure proper documentation to aid claim to cash for each milestone as they fall due
- Make weekly reconciliation on the different accounts using data in SAP/Oracle, and the corresponding system balance, clear aged outstanding items
- Performed Write-off, Adjustments, Deductions & Penalties if needed for all invoices
- Collaborated with team members to achieve monthly targets, promoting a positive work environment and boosting overall productivity.
- Contacted customers to discuss payment schedules and set up or immediately process payments.
- Reduced outstanding debts by implementing strategic collections tactics and maintaining open lines of communication with customers.
- Streamlined debt collection processes for increased efficiency in the workplace.
- Supported sales teams by providing accurate credit information for new and existing customers.
- Increased collection rates through proactive account management and regular follow-ups with clients.
- Reduced overdue debt by closely monitoring customer accounts and taking prompt action on outstanding payments.
- Reduced past due balances and bad debt by coordinating collection efforts with customer service, sales and billing departments.
Education
Bachelor of Science - Financial Management Technology
Federal University of Technology Owerri
Preparatory classes - ACCA
Toronto School of Management
MBA - Global Business Management
International Business University
Toronto, ON08-2026
Skills
- Marketing
- Company processes and procedures
- Key client relationships
- Commercial litigation experience
- Conflict Resolution
- Risk Assessment
- Negotiation Tactics
- Debt recovery expertise
- Financial and operational reporting
- Strategic financial planning
- Cross-functional team management
- Billing and collections best practices
Accomplishments
- Billed and collected cash of over $500m to date, reduced DSO by 48%, Past due to a record 27% in 2022.
- Proven track record of improving cashflow, reducing delinquencies, Meeting and exceeding set targets annually, building and maintaining excellent customer relations for improved financial performance.
- Received Two (2) Global impact awards for Delivering with Excellence in 2020, Finance employee of the year 2023.
Timeline
Customer Experience Partner- Lead Logistics
Maersk Logistics
04.2024 - Current
Accounts Receivable Representative
Toronto Hydro Electric Systems
05.2023 - 04.2024
Billing/Collections Lead (EMEA)
General Electric - GE Vernova
04.2022 - 04.2023
Invoice to Cash Accountant
General Electric - GE Healthcare
11.2018 - 04.2022
Credit Controller
Global Lifting Services Limited
04.2016 - 10.2018
Bachelor of Science - Financial Management Technology
Federal University of Technology Owerri
Preparatory classes - ACCA
Toronto School of Management
MBA - Global Business Management
International Business University
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