Credit & Collections Specialist

JOB DESCRIPTIONTITLE: Credit & Collections Specialist DEPARTMENT: Finance DATE: May 2024 FLSA: Non-ExemptREPORTS TO: Director, Credit & CollectionsPRIMARY OBJECTIVE: To administer credit and collections policies and procedures for processing documentation and cash activityThe Credit & Collections Specialist is responsible for overseeing the credit granting process, including the consistent application of a credit policy, periodic credit reviews of existing customers, and the assessment of the creditworthiness of potential customers. This role also involves the timely collection of outstanding invoices and the resolution of any discrepancies or disputesESSENTIAL JOB FUNCTIONS: Researches and resolves customer questions, issues, and payments.Timely distribution of customer invoices, credit memos and account statements.Process payments and apply cash to customer invoices in our ERP system. Reconcile daily cash receipts in our ERP system with month-end bank statements.Contact customers via phone, email, and letters to secure payment of outstanding invoices.Maintain positive relationships with customers while ensuring adherence to payment terms.Assist in negotiating payment plans for delinquent customers and resolving billing discrepancies or disputes in a timely manner.Produces reports of problem accounts and status of account collections as needed. Ensure compliance with all relevant laws and regulations, including the Fair Debt Collection Practices Act (FDCPA).Assists in assessing the creditworthiness of new and existing customers using financial data, credit reports, and payment history.Conduct periodic customer reviews and update customer information, including credit limits, as necessary.Exhibits desirable and appropriate professional behavior including leadership, sense of urgency, independent judgment, teamwork, ability to get along with others, creative thinking, and personal integrity to provide for a cohesive, productive unit dedicated to the achievement of corporate goals.Other duties as assigned or required.Agree to abide by the Approval Matrix.EXPERIENCE AND TRAINING:Proven experience as a Credit & Collections Specialist or in a similar role.Strong understanding of credit principles, accounts receivable processes, and collection strategies.Proficiency in using accounting software and Microsoft Office Suite (Excel, Word).Strong communication, negotiation, and interpersonal skills.Ability to work independently and manage multiple tasks in a fast-paced environment. SKILLS AND ABILITIES:Common and intuitive sense to deal with customers and company personnel in a positive, professional manner.Excellent analytical skills and attention to detail. Strong organizational skills and the ability to prioritize tasks effectively.