Credit & Collections Manager
The Credit & Collections Manager (C&C Manager) is responsible for administering the daily credit and collection responsibilities of the department. This role will be a player/coach with a portion of the role performing collection duties alongside their team. He/She will develop standard procedures and continually improve all team member’s capabilities across all aspects of their role. The C&C Manager will work to improve the company’s cash flow by reducing the dollars and overall percentage of our receivables past due.
3 Critical Success Factors:
1. Team Customer Outreach: Ensure the team has a plan at the beginning of each week for appropriate customer outreach and follow up to ensure all past due customers are contacted each week and notes are updated accordingly.
2. Invoicing accurate and timely: Ensure all customers received their invoices timely and were transmitted according to their required method.
3. Reduce dollars past due: Create best practices for you and your team to reduce the dollars and percentage of our receivables more than 15 days past due.
Essential Duties & Responsibilities:
The Credit & Collections Manager will be responsible for items including, but not limited to the following:
- Administer daily credit and collection management duties of the department.
- Plan, build and maintain a program for the systematic follow-up and collection of receivables.
- Develop, train and maintain subject matter expertise relating to customer portals
- Design and implement processes to improve cash flow and reduce receivables.
- Follow up on disputes in a timely manner, and work with salespeople and customers to resolve issues.
- Personally handle major accounts requiring individual attention, marginal accounts, problem accounts, special credit arrangements and deviations from standards.
- Conduct and/or oversee credit investigations on existing and potential customers to adjust credit limits.
- Perform credit evaluations on new customers and establish credit limits.
- Facilitate bad debt recovery by monitoring potential write-offs and collecting on previous write-offs and taking legal action when necessary.
- Closely follow the course of aging accounts and figure out action to be taken on delinquent accounts.
- Clear and timely reporting to senior leaders.
- Monitor receivable portfolio to actively increase cash flow and minimize exposure to bad debt.
- Actively participate in sales meetings to drive receivable improvements across the business.
- Enforce payment terms across the company’s receivables portfolio.
Education and Experience:
- Bachelor’s degree in the field of Finance, Accounting or Business Management is preferred, but not required.
- 8 or more years of proven collections experience working for a highly transactional multiple location international distribution or manufacturing business.
- 3 or more years managing a Credit & Collections function for a highly transactional multiple location international distribution or manufacturing business.
- Advanced MS Office skills, including strong Excel data management.
- 10-key calculator skills, by touch
Travel Required:
- 0% Travel
Base salary range $80,000 – $105,000 plus excellent benefits!
Accounting and Finance