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DEDUCTION

SPECIALIST

Deduction Specialist

Chicago, Illinois 60608

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Position Summary:

The Deduction Specialist will ensure timely and accurate resolution of customer deductions to support the company's cash flow and financial integrity. This role involves analyzing customer payment issues, investigating discrepancies, and collaborating with internal departments to reduce invalid deductions.

 

Primary Responsibilities:

  • Manage and Resolve Customer Deductions: Oversee the research and resolution of various customer deductions, ensuring accuracy in billing and financial transactions.

  • Customer Interaction and Dispute Resolution: Engage with customers to clarify discrepancies, recover supporting documentation, and initiate disputes for invalid deductions.

  • Process Improvement and Efficiency: Identify opportunities to streamline processes, reduce deduction volume and enhance overall efficiency in administrative tasks.

  • Cross-Departmental Collaboration: Partner with sales, brokers, warehouse personnel, and other departments to prevent and resolve complex issues related to customer accounts.

  • Financial Reporting and Documentation: Organize and document validated deductions, provide financial insights, and assist in audits by supplying necessary documentation.

 

Key Activities:

  • Take ownership of Contra Sales for assigned customer accounts.

  • Investigate and resolve client deductions, including but not limited to promotional discounts, pricing, shipping claims, rebates, freight, and product returns.

  • Engage with customers to obtain backups, clarify discrepancies, and resolve issues.

  • Initiate disputes for invalid deductions.

  • Submit disputes for unauthorized deductions through vendor portals.

  • Clear valid deductions to appropriate GL deduction codes after thorough research.

  • Collaborate with Sales, Brokers, and Warehouse personnel to research deductions and address complex issues.

  • Manage client portfolio, reporting and documenting validated deductions.

  • Work with other departments to provide financial insights and analysis.

  • Identify, report, and present trends in customer deductions.

  • Identify and drive process improvements to reduce administrative costs by streamlining processes and lowering deduction volume.

  • Assist with audits by providing necessary documentation.

  • Identify and implement efficiency-enhancing process improvements.

  • Participate in training and development activities.

  • Monitor and archive incoming BOL and Proof of Delivery documentation as needed.

  • Identify customers with EDI issues and send manual invoices as required.

  • Maintain and respond to emails in the Deduction Email inbox.

  • Other duties as assigned.

 

​​Core Competencies:

  • Strong customer service skills.

  • Proficient in analyzing data and resolving account discrepancies.

  • Excellent verbal and written communication skills.

  • Highly organized, capable of managing multiple tasks and prioritizing effectively.

  • Effective problem-solving abilities.

  • Collaborative team player.

  • Experienced in identifying and implementing process improvements.

  • Adaptable in managing diverse tasks and shifting priorities.

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Necessary Experience:

  • Associate’s degree or higher in Finance, Accounting, or a related field is preferred.

  • 2-3  years’ experience in accounts receivable, financial analysis, or a similar role.

  • Practical experience handling deductions, disputes, and financial documentation.

  • Technical proficiency with accounting software, Microsoft Office Suite (especially Excel), and financial reporting tools.

 

Why Should you Apply?

  • Competitive Pay

  • Growth and Advancement Opportunities

  • Sign-on Bonus

  • Competitive Benefits (Medical/Dental/401K)

  • Paid Time Off (Vacation/Sick/Personal)

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