Refunds Manager Job Profile and Description
While cashier supervisors and sales agents can authorize refunds outright on the retail floors by merely presenting returned merchandise, some industries require a Refunds Manager to process and adjudicate refund requests. The process often requires verification that the customer’s money has indeed entered the company’s accounts and that a refund has been cleared by higher management. There are procedural accounting reversals and this may require further approvals in a corporate accounting system. For instance, airlines are often among the many companies that have an elaborate revenue management system to prompt a refund of ticket purchases when authorized.
Duties and Responsibilities
- Process sales-approved refund requests by checking accounting system to ensure that the sale has been consummated, refund request is made within prescriptive periods, product sale is non-promotional and that refunds have be approved
- Approve the release of refund checks or customer bank deposits
- Advise customer by phone or email that refunds are ready to be picked up
- Journalize the fund reversal entries in the company’s accounting ledgers.
- Mentor new hires in the refunds section.
Skills and Specifications
- Must have an eye for computational details with a high level of accuracy
- Must exhibit high organizational skills
- Must have excellent supervisory and managerial skills
- Must have high level of patience to delve into deeper levels of analysis
- Must be able to work under high pressure, long work hours and comply with deadlines
- Must have strong communication and interpersonal skills to interact with high level decision makers
Education and Qualifications
A degree in accounting or commerce is a must while a post graduate course in either field is an employment edge. Computer literacy with spreadsheets and word processing is basic and a working familiarity with automated accounting systems or ERPs is an edge.
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