Credit and Collection Manager

Job Description
Direct Hire- On site

Manager of Credit and Collections!

We are seeking a dynamic and results-driven Manager of Credit and Collections to join our team and play a pivotal role in ensuring the financial success of our organization. Reporting directly to the CFO, this key leadership position will oversee a talented team of credit analysts and collections specialists. Your expertise will drive strategies to optimize cash flow, minimize credit risk, and maintain strong, positive relationships with our customers.

In this role, you'll have the opportunity to make a significant impact on our bottom line by ensuring prompt payments, effective risk management, and seamless collaboration across departments.

Key Responsibilities:

• Credit Appraisal: Assess the creditworthiness of potential clients, analyzing financial statements, credit reports, and payment histories to ensure informed decision-making before extending credit terms.
• Setting Credit Parameters: Establish and adjust credit limits for customers based on their financial stability and credit history, ensuring a balanced approach to risk.
• Credit Policy Development: Create and enforce robust credit policies and procedures that clearly define credit terms and collection processes to protect company assets.
• Collaboration Across Departments: Work closely with Sales, Finance, and other teams to optimize the onboarding of new clients and the management of existing accounts.
• Billing and Invoicing Oversight: Ensure the accuracy and timeliness of billing and invoicing, adhering to contract terms for completed projects.
• Dispute Resolution: Handle and resolve billing or payment disputes, collaborating with project managers, clients, and suppliers to find mutually beneficial solutions.
• Cash Flow Management: Proactively monitor cash flow and working capital, ensuring the company meets its financial obligations while supporting ongoing operations.
• Credit Reporting Compliance: Fulfill all necessary credit reporting requirements and ensure adherence to legal standards.
• Risk Mitigation: Identify and mitigate credit risks to minimize bad debt and safeguard financial health.
• Record Keeping: Maintain thorough records of credit and collection activities, including communication and payment history, for transparency and compliance.
• Regulatory Compliance: Ensure strict compliance with relevant laws and regulations, including the Fair Debt Collection Practices Act (FDCPA).
• Cross-Departmental Communication: Foster seamless communication with other departments, attending Sales, Parts, and Service meetings to ensure a unified approach to credit and collections.
• Regular Reporting: Provide senior management with timely updates on accounts receivable, collections efforts, and financial status.
• Credit Analysis: Conduct periodic reviews of existing client creditworthiness and adjust credit terms as necessary to reflect any changes.
• Training & Development: Lead training initiatives for Sales, Department Managers, and other team members to ensure clear understanding of credit policies and procedures.
• Enhance Customer Relations: Build and maintain strong, positive customer relationships, ensuring an exceptional experience throughout their engagement with the company.
• Auditing Excellence: Perform regular audits of rental purchases to verify their accuracy and ensure compliance with company credit policies.

Requirements

Qualifications:

• Educational Background: A Bachelor's degree (or equivalent) in Accounting, Finance, or a related field.
• Experience: At least 5 years of hands-on experience in finance, credit management, or collections, with a proven track record of success in similar roles.
• Advanced Excel Skills: Strong proficiency in Excel to analyze data, create reports, and manage financial models with ease.
• Analytical Expertise: Exceptional organizational, analytical, and problem-solving abilities, with a keen eye for detail and a strategic approach to complex issues.
• Communication & Relationship Building: Outstanding verbal and written communication skills, with the ability to build and maintain positive relationships at all levels of the organization and with external partners.
• Business Acumen: Deep understanding of business and financial operations, combined with the ability to think beyond the numbers and solve problems creatively.
• Time Management & Prioritization: Demonstrated ability to prioritize tasks and manage multiple responsibilities in a fast-paced, dynamic environment.
• Professionalism & Enthusiasm: A high level of professionalism, enthusiasm, and dedication, coupled with an unwavering attention to detail.
• Adaptability: Flexibility to quickly adjust to shifting priorities and contribute effectively in an evolving workplace.