Credit and Collections Specialist

The Credit and Collection Specialist is a trusted partner to both customers and internal teams, helping balance smart credit decisions with exceptional service. This role offers the opportunity to build relationships, solve problems, and make a meaningful impact by keeping business moving smoothly while supporting healthy, sustainable growth.

Starkey is a world leader in the manufacturing and distribution of advanced hearing technologies. We are in the business of connecting people and changing lives. Our teams come to work each day focused on ensuring people everywhere have the products and services they need to hear better and live better.

Founded in 1967 by Bill Austin, Starkey is known for our cutting-edge hearing health innovations, industry-leading research and development, and not being afraid to push the edge of what’s possible.

We are headquartered in Eden Prairie, Minnesota, have over 5,000 employees in 29 facilities across the globe, and do business in more than 100 markets worldwide.

Watch this video to see more of what sets Starkey apart:

The Credit and Collection Specialist is responsible for credit extension, collection of past due AR balance and the release of pending orders in a timely manner for assigned portfolio

Approach and Deployment

Perform credit review of new and existing customers

• Analyze and approve credit applications
• Evaluate new and existing client relationships by completing a thorough risk assessment including analysis and interpretation of customer business and personal credit report.
• Monitor risk of large customers based on aging analysis, payment history and thorough analysis of customer financial statement, annual report, Experian Biz App, and Credit Risk Monitor reports
• Annual credit review (or as needed) of existing client portfolio and recommend credit limits adjustments
• Collaborate with the sales team on options for customers with credit worthiness issues

Solve credit problems for internal/external customers.

• Daily review orders that have been placed on hold to facilitate prompt release and shipment
• Negotiate payment plans and/or settlements when appropriate.
• Timely management of strategic client portfolios including addressing and preventing past due account balances through interaction with customers and strategizing with internal customer relationship partners
• Contact past due and current customer accounts to collect delinquent receivable balances and resolve pending disputes.
• Follow up with past due accounts in a timely and consistent fashion.
• Review aged accounts receivable balances for collection calls and credit file updates.
• Determine when an account is ready for final demand notice and or collection placement.

Ensure that all administrative maintenance is accurately completed for all assigned accounts.

• Ensure accurate customer records through proper account reconciliations, payment application, recording of adjustments (write-offs, credit memos, etc.), name changes, bill-to addresses, etc.
• The ability to handle confidential information and use discretion while performing job tasks.
• Ensure final demands and collection placement are reviewed monthly.
• Document customer contact and other communication within Oracle: Advance Collection.

Results – Performance Measures (How to Measure Success)

• Meet company collection targets based on portfolio activity and management expectations sent via monthly team goals.
• Maintain a low DSO for account portfolio. This will be measured against the company norm and against DSO targets set for each Credit Representative
• Maintain a good relationship with internal and external customers. This will be measured by the number of complaints or accolades received about each credit and collection specialist.
• Maintain assigned percentage over 31+ days past due. This will be measured against %’s established by the department as an acceptable amount to be over 31 days past due.

Other Duties (Non Measurable)

• Support Starkey Employee Corporate and/or Department Guidelines.
• Prepare and provide recommendations on changes to improve the Accounts Receivable department with regard to procedures, coordination between departments, and other practices that would improve operations from a customer service stand point.
• Assist with designing and developing company Receivables Aging standards: assisting with the implementation of procedures to meet and exceed standard target ranges.
• Required to work/assist with month end closing processes.
• React to change productively and handle other essential duties as assigned.

Job Requirements

Education:

• Bachelors Degree in Business or related field
• National Association of Credit Management (NACM) certified (CBF or higher)

Experience :

• Four to seven years experience in a corporate credit/customer service environment

Knowledge

• Working knowledge of Windows, Excel, and Word for Windows preferred.
• Oracle Advance Collections
• Experian Credit Reports

Skills & Abilities

• Enjoy problem solving and attention to detail. Good problem solving skills required.
• Ability to communicate effectively and tactfully with a wide variety of people
• Heavy phone collection and customer skills required.

Salary and Other Compensation:

The target pay rate for this position is between $20.36 - $30.29 per hour. Factors which may affect starting pay within this range may include: geography/market, skills, education, experience and other qualifications of the successful candidate.

This position is eligible for a bonus based upon performance results. There is no guarantee of payout.

Benefits: The following benefits for this position, subject to applicable eligibility requirements, include medical, dental and vision insurance, 401(k) retirement plan with company match, company-paid life and short-term disability insurance, long-term disability insurance, employee assistance plan, hearing aid benefits, Paid Time Off, paid holidays, paid floating holidays, paid volunteer service day, paid paternity and maternity leave and tuition reimbursement.

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