Credit and Collection Manager

Direct Hire/On-Site

We are on the lookout for an extraordinary Manager of Credit and Collections, a position pivotal to the success of our financial operations. This role, reporting directly to the CFO, entails the supervision of a team comprising credit analysts and collections specialists. Your primary mission is to devise and execute strategies aimed at ensuring prompt payments, reducing credit risk, and elevating our overall cash flow. Additionally, the Manager of Credit and Collections will be instrumental in fostering robust customer relationships and driving our financial prosperity.

Main Duties:

• Credit Appraisal: Thoroughly assess the creditworthiness of potential clients before granting credit terms, involving a comprehensive examination of financial statements, credit reports, and payment histories.
  

• Setting Credit Parameters: Establish well-judged credit limits for customers based on their financial stability and credit history, taking into account potential risks to the company.
  

• Credit Policy Formulation: Formulate and uphold credit policies and procedures that delineate the terms and conditions for extending credit and delineate collection processes.
  

• Collaborate closely with the company departments to optimize participation among new clients and the conversion of existing ones.
  

• Billing and Invoice Oversight: Guarantee the accuracy and timeliness of billing and invoicing for completed projects, ensuring compliance with contract terms.
  

• Resolution of Disputes: Address and resolve billing and payment disputes by collaborating with project managers, clients, and suppliers.
  

• Effective Cash Flow Management: Maintain vigilant oversight of cash flow and working capital to ensure the company meets its financial obligations and sustains its operations.
  

• Credit Reporting: Fulfill credit reporting requirements to credit bureaus as mandated, adhering to legal standards.
  

• Risk Mitigation: Continually assess and mitigate credit risks to minimize potential losses attributed to bad debt.
  

• Record Keeping: Keep meticulous records of all credit and collection activities, encompassing correspondence and payment history.
  

• Compliance Assurance: Ensure that all credit and collection activities adhere strictly to relevant laws and regulations, including the Fair Debt Collection Practices Act (FDCPA).
  

• Interdepartmental Communication: Collaborate seamlessly with other departments, including sales and finance, to ensure a unified approach to credit and collections. Actively engage in company Sales, Parts, and Service meetings.
  

• Regular Reporting: Generate reports and provide regular updates to senior management regarding the status of accounts receivable and collections efforts.
  

• Periodic Credit Analysis: Regularly review and reevaluate the creditworthiness of existing clients to adjust credit terms as necessary.
  

• Training Oversight: Oversee the training initiatives for Sales, Department Managers, and Non-Management personnel on credit policies and procedures.
  

• Enhancing Customer Relations: Focus on managing customer relations and ensuring a consistently positive experience while they engage with the company.
  

• Thorough Auditing: Perform comprehensive audits of rental purchases to confirm their accuracy and adherence to the companys credit policy.
  

Requirements

Qualifications:

• A bachelors degree or equivalent in Accounting or Finance.
  

• A minimum of 5 years of experience in finance or related credit and collection roles.
  

• Proficiency in Advanced Excel.
  

• Exceptional organizational, analytical, and problem-solving skills.
  

• Outstanding communication and interpersonal skills, enabling the building and maintenance of relationships across all organizational levels.
  

• Deep insight into business and financial operations, coupled with a problem-solving mindset extending beyond numerical data.
  

• The capability to prioritize and autonomously manage multiple tasks in a fast-paced environment.
  

• A high degree of professionalism, enthusiasm, and meticulous attention to detail.
  

• Flexibility and adaptability to swiftly changing priorities.