Assistant Credit Manager

Roles and responsibilities

The Assistant Credit Manager will support the financial health of the hotel by managing credit processes, ensuring timely collections, and maintaining accurate financial records. This role requires a proactive approach and a solid understanding of credit management principles within the hospitality sector.

Responsibilities:

• Design and implement credit policies and procedures to ensure they align with the company’s financial goals and risk tolerance.
• Perform periodic reviews of existing customer accounts to assess ongoing credit risk.
• Ensure that all AR invoices are accurate and are being sent out within 24 hours of checkout.
• Monitor and manage accounts receivable to ensure timely collection of payments.
• Resolve customer disputes and ensure timely collection while preserving customer relationships.
• Prepare regular reports on credit performance, outstanding receivables, and collection efficiency for higher management.
• Ensure that all accounts receivable queries received are answered within 24 hours of receipt.
• Review Paymasters and Open Folios on a daily basis and ensure they are checked out in a timely manner.
• Review and monitor Membership revenue and aging on daily basis.
• Monitor receivables from the Membership and ensure timely collection of payments.
• Communicate with Membership Department if there are any disputes and take necessary action to resolve it.
• Raise manual invoices when required and ensure payments are received within agreed terms.
• Perform weekly credit meetings.
• Perform other tasks or projects as may be assigned by the Director of Finance ensuring flexibility and adaptability to evolving business needs.

• Credit Assessment:

  • Assist in evaluating the creditworthiness of new and existing clients through analysis of financial statements, credit reports, and other relevant data.
  • Recommend credit limits based on analysis and company policies.

• Account Management:

  • Monitor accounts receivable, ensuring timely collections and follow-ups on overdue accounts.
  • Maintain accurate records of client transactions and credit activity.

• Risk Management:

  • Identify potential risks related to credit and implement strategies to mitigate them.
  • Work with the Credit Manager to develop and enforce credit policies and procedures.

• Reporting:

  • Prepare reports on credit status, collection efforts, and outstanding balances for management review.
  • Analyze trends in credit data and provide insights to improve credit processes.

• Customer Relations:

  • Communicate with clients regarding credit terms, payment issues, and account status.
  • Build and maintain positive relationships with clients while ensuring adherence to credit policies.

• Collaboration:

  • Work closely with sales and finance teams to align credit strategies with business objectives.
  • Assist in training staff on credit policies and best practices.

Desired candidate profile

1. Analytical Skills:

   • Strong ability to analyze financial statements, credit reports, and other relevant data to assess creditworthiness.

2. Attention to Detail:

   • Meticulous in monitoring accounts and ensuring accuracy in credit evaluations and reporting.

3. Communication Skills:

   • Excellent verbal and written communication skills for effective interaction with clients and internal teams.

4. Problem-Solving Skills:

   • Ability to address credit issues and recommend effective solutions.

Personal Traits:

1. Professionalism:

   • High level of integrity and commitment to confidentiality when handling sensitive financial information.

2. Adaptability:

   • Flexible and able to manage changing priorities in a dynamic environment.

3. Team Player:

   • Collaborative mindset with the ability to work well with various departments, including sales and finance.

Additional Preferences:

• Technical Proficiency:

  • Familiarity with credit management software, accounting systems, and Microsoft Excel.

• Certifications:

  • Relevant certifications in credit management or finance (e.g., Certified Credit Professional) can enhance the candidate's profile.

• Customer Service Orientation:

  • Strong focus on building positive relationships with clients while ensuring adherence to credit policies.