Job Title: Credit & Collections Manager
Department: Finance
Reports To: Controller
Job Summary:
The Credit & Collections Manager is responsible for overseeing the company's credit and collections operations. This role ensures that the company's credit policies and procedures are followed, minimizes bad debt risk, and works closely with customers to maintain positive relationships while ensuring timely collection of outstanding receivables.
Key Responsibilities:
- Credit Management:
- Develop and implement credit policies and procedures to minimize risk and maximize cash flow.
- Assess the creditworthiness of new and existing customers by analyzing financial statements, credit reports, and payment history.
- Set and manage credit limits for customers based on analysis and company policy.
- Approve or reject credit applications and manage the credit approval process.
- Collections:
- Oversee and manage the collections process to ensure timely payment of invoices.
- Communicate with customers to resolve payment issues, negotiate payment plans, and enforce payment terms.
- Monitor accounts receivable aging reports and take appropriate actions on delinquent accounts.
- Collaborate with the sales and customer service teams to address disputes and ensure customer satisfaction.
- Reporting & Analysis:
- Prepare and present regular reports on the status of credit and collections activities, including aging reports, DSO (Days Sales Outstanding), and bad debt forecasts.
- Analyze trends in payment behavior and provide recommendations for improvements.
- Monitor and report on key performance indicators (KPIs) related to credit and collections.
- Team Management:
- Lead and manage a team of credit analysts and collections specialists.
- Provide training, guidance, and performance evaluations to team members.
- Foster a positive and collaborative working environment to ensure team effectiveness and high morale.
- Compliance & Risk Management:
- Ensure compliance with relevant laws and regulations related to credit and collections.
- Develop and maintain strong internal controls to safeguard company assets.
- Identify and mitigate risks associated with credit and collections activities.
Qualifications:
- Bachelor's degree in Finance, Accounting, Business Administration, or related field.
- A minimum of 5-7 years of experience in credit and collections, with at least 3 years in a management role.
- Strong understanding of credit analysis, collections strategies, and financial reporting.
- Proficiency in using financial software and ERP systems (e.g., SAP, Oracle, QuickBooks).
- Excellent negotiation, communication, and interpersonal skills.
- Ability to work under pressure and manage multiple priorities effectively.
- Certification in credit management (e.g., CCE, CICP) is a plus.
Skills & Competencies:
- Analytical and problem-solving skills.
- Leadership and team management abilities.
- High attention to detail and accuracy.
- Customer-focused mindset with the ability to balance company and customer needs.
- Strong organizational and time management skills.
Desired Skills and Experience
Job Title: Credit & Collections Manager
Department: Finance
Reports To: Controller
Job Summary:
The Credit & Collections Manager is responsible for overseeing the company's credit and collections operations. This role ensures that the company's credit policies and procedures are followed, minimizes bad debt risk, and works closely with customers to maintain positive relationships while ensuring timely collection of outstanding receivables.
Key Responsibilities:
* Credit Management:
o Develop and implement credit policies and procedures to minimize risk and maximize cash flow.
o Assess the creditworthiness of new and existing customers by analyzing financial statements, credit reports, and payment history.
o Set and manage credit limits for customers based on analysis and company policy.
o Approve or reject credit applications and manage the credit approval process.
* Collections:
o Oversee and manage the collections process to ensure timely payment of invoices.
o Communicate with customers to resolve payment issues, negotiate payment plans, and enforce payment terms.
o Monitor accounts receivable aging reports and take appropriate actions on delinquent accounts.
o Collaborate with the sales and customer service teams to address disputes and ensure customer satisfaction.
* Reporting & Analysis:
o Prepare and present regular reports on the status of credit and collections activities, including aging reports, DSO (Days Sales Outstanding), and bad debt forecasts.
o Analyze trends in payment behavior and provide recommendations for improvements.
o Monitor and report on key performance indicators (KPIs) related to credit and collections.
* Team Management:
o Lead and manage a team of credit analysts and collections specialists.
o Provide training, guidance, and performance evaluations to team members.
o Foster a positive and collaborative working environment to ensure team effectiveness and high morale.
* Compliance & Risk Management:
o Ensure compliance with relevant laws and regulations related to credit and collections.
o Develop and maintain strong internal controls to safeguard company assets.
o Identify and mitigate risks associated with credit and collections activities.
Qualifications:
* Bachelor's degree in Finance, Accounting, Business Administration, or related field.
* A minimum of 5-7 years of experience in credit and collections, with at least 3 years in a management role.
* Strong understanding of credit analysis, collections strategies, and financial reporting.
* Proficiency in using financial software and ERP systems (e.g., SAP, Oracle, QuickBooks).
* Excellent negotiation, communication, and interpersonal skills.
* Ability to work under pressure and manage multiple priorities effectively.
* Certification in credit management (e.g., CCE, CICP) is a plus.
Skills & Competencies:
* Analytical and problem-solving skills.
* Leadership and team management abilities.
* High attention to detail and accuracy.
* Customer-focused mindset with the ability to balance company and customer needs.
* Strong organizational and time management skills.
All qualified applicants will receive consideration for employment without regard to race, color, national origin, age, ancestry, religion, sex, sexual orientation, gender identity, gender expression, marital status, disability, medical condition, genetic information, pregnancy, or military or veteran status. We consider all qualified applicants, including those with criminal histories, in a manner consistent with state and local laws, including the California Fair Chance Act, City of Los Angeles' Fair Chance Initiative for Hiring Ordinance, and Los Angeles County Fair Chance Ordinance. To the extent our customers require a background check for certain positions, the Company faces a significant risk to its business operations and business reputation unless a review of criminal history is conducted for those specific job positions.
