Our client, a manufacturing company located in Somerset, has an exciting opportunity for a Credit & Collections Assistant Manager to join their team. This is a brand new role due to growth in the company.
Beautiful state of the art facility and a great place to work as voted by their employees!
Responsible for determining the credit status of customers, collection of outstanding trade receivables, and protecting the companys A/R investment. Recommend and enforce credit & collection policies and procedures. Approve credit limits, risk ratings, payment terms and routinely review and make recommendations on delinquent accounts. Minimize Days Sales Outstanding, Past Due balances, Bad Debt losses, and Bank Fees. Mitigate high risk factors, resolve customer problems, and address unauthorized chargebacks. Monitor Intercompany Billing activity. Manage an individual portfolio of customer accounts for credit, collection, customer service purposes. Assist Credit Manager with training, coaching, and performance reviews for the C&C Team. Hybrid position requiring first 90 days in the office, then 3 days in the office and 2 days from home.
Essential Duties and Responsibilities:
- Establish and approve customer credit limits up to $500,000 per customer and payment terms of Net 30 Days by assessing credit worthiness via analysis of credit reports, bank and trade references, and financial statements.
- Responsible for collection calls and supervision of the companys credit analysts, collectors, cash applications, and billing personnel.
- Assist Credit Manager with delinquent accounts and determining customers for debt collection and legal placement.
- Generate written correspondence to delinquent accounts and manage collection efforts with 3rd party collection and legal specialists.
- Monitor, enforce, and formalize the companys credit & collection policies and procedures.
- Routinely liaise with the companys Sales Managers and Account Managers to clear credit and collections issues, to expedite payments, and resolve payment discrepancies.
- Manage and improve Days Sales Outstanding, trade A/R Aging, and Bad Debt Losses.
- Assist Credit Manager with the preparation & distribution of various sales order status, cash receipts and charge back reports on a daily and monthly basis.
- Supervise activities over the timely release and resolution of on-hold orders.
- Assist Cash Application personnel with the timely review and resolution of chargebacks, unauthorized customer deductions, and billing and freight discrepancies.
- Monitor and Manage Intercompany Billing and A/R activity.
- Bachelors Degree required.
- Minimum 5 -10 years experience in credit & collections and a minimum 3 years management / supervisory experience preferred.
- Excellent communication, analytical, problem solving, and customer service skills.
- Computer proficiency with MS Office applications (Excel & Word), e-mail, and internet required. Familiarity with Oracle or another ERP system preferred.
- High Standard of ethical conduct and respect to confidentiality required.