Position Summary:
This role involves overseeing credit risk assessment, establishing credit policies, and ensuring timely collection of outstanding debts. The goal is to maintain a healthy cash flow while minimizing credit-related risks.
Responsibilities:
• Credit Policy Management: Develop, implement, and enforce credit policies and procedures to evaluate the creditworthiness of customers.
• Credit Risk Assessment: Analyze financial data, credit reports, and other relevant information to assess the credit risk of potential and existing customers.
• Credit Approval: Make decisions regarding credit approvals and set appropriate credit limits for customers.
• Customer Onboarding: Collaborate with sales and account management teams to evaluate and onboard new customers.
• Collection Strategies: Develop and implement effective collection strategies to ensure timely payment of outstanding invoices.
• Debt Recovery: Manage the process of debt recovery, working with internal teams and external agencies as needed.
• Customer Communication: Communicate with customers regarding their accounts, payment terms, and any outstanding issues. Provide assistance and solutions to facilitate timely payments.
• Reporting and Analysis: Prepare and present regular reports on the status of accounts receivable, credit risk, and collection performance.
• Legal Compliance: Stay informed about relevant laws and regulations related to credit and collections. Ensure compliance with legal requirements.
• Negotiation: Negotiate and implement payment plans or settlements with customers facing financial difficulties while protecting the organization’s interests.
• Customer Relationship Management: Build and maintain positive relationships with customers, internal teams, and external partners involved in the credit and collection process.
• Process Improvement: Identify opportunities for process improvements in credit and collections, including the implementation of automation and technology solutions.
• Team Development: Continuously coach, advise and develop the credit and collection team to capacitate them and level up their performance.
Qualifications:
• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field.
• Proven experience in credit and collection management, preferably in a supervisory or managerial role.
• Strong understanding of financial analysis, credit risk assessment, and collection strategies.
• Familiarity with relevant software and tools used in credit and collections.
• Excellent communication and negotiation skills.
• Analytical mindset with attention to detail.
• Ability to make sound decisions and manage multiple priorities effectively.
• Knowledge of legal and regulatory frameworks related to credit and collections.
