This position is responsible for global credit and collection and collections including: review and analysis of customer accounts and credit history, approving levels of credit, negotiating payment plans, and initiating collection activity. Determine applicable limits and extension to minimize exposure and maximize cash flow.
NECESSARY EDUCATION & EXPERIENCE:
Bachelor’s degree in accounting or finance required.
Prior credit & collections experience - minimum 5 years
CCE or ICCE Certification Preferred
Computer skills including Excel
Oracle experience preferred
SPECIFIC KNOWLEDGE, SKILLS, LICENSES, CERTIFICATIONS, ETC:
Excellent communication skills (verbal & written) and ability to maintain good relationships.
Strong problem solving and analytical skills.
Ability to work independently or as a team
Able to organize & prioritize responsibilities.
Ability to be flexible in a highly changing environment.
DUTIES AND RESPONSIBILITIES:
Obtain, review, and analyze customer credit reports to assess creditworthiness.
Determine appropriate lines of credit considering status, history, exposure, and anticipated sales volume.
Establish credit limits.
Conduct advanced analysis of customer financial statements.
Review, reconcile, and maintain customer accounts.
Resolve cash application discrepancies.
Determine appropriate circumstances that warrant the imposition or release of credit holds.
Forecast company receivables based on negotiated arrangements and payment history.
Review credit analysis by other H & V operating units, world-wide, and coordinate global exposure limits.
Re-evaluate customer credit limits using credit reports and payment behavior to determine eligibility for continued payment terms and credit limits.
Periodic review of top accounts to satisfy receivable insurance standards and requirements.
Monitor customer’s compliance to terms and conditions and notify the account manager, as necessary.
Identify potential problem accounts and adjust credit limits to minimize potential bad debt exposure.
Negotiate terms and conditions with customers.
Review accounts receivable reports weekly to identify delinquencies and prioritize collection activity based upon highest risk and/or greatest loss.
Contact customers to determine status of delinquent receivables and negotiate terms and timing of payments.
Monitor status of delinquent accounts for follow up and re-evaluate risk leve.
Implement effective controls and follow up plan to bring account current..
Initiate or respond to daily contact with customers by phone or email to determine the reason for delinquencies.
Document details of collection efforts and the customer’s response for internal records and review in determining lines of credit and the extent of collection efforts required.
Interact daily with, account managers, customer service reps, marketing and shipping to determine root causes of errors and reasons/resolutions for delinquencies.
Monitor high risk customers and engage managers when several attempts to resolve delinquencies have failed. Negotiate payment arrangement to reduce risk.
Prepare a weekly analysis and projection report of the top 50 high value customers based on due dates.
Manage, maintain and control a daily hold report by making appropriate decisions to ensure timely remittances minimize the delay of sales order releases.
Research unidentified payments, unapplied payments, credits and unauthorized deductions and assist in month end closing activities.
Support and backup for cash application process, including reconciling accounts and vacation coverage.
Identify and implement necessary process improvements and changes including internal controls to improve cash flow and reduce receivables.
Provide coverage for, and make decisions on behalf of the Credit/Collections Manager during meetings, vacations and absences.
Produce & maintain reports as assigned by management and other related duties as required.
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8441 Wayzata Boulevard
Golden Valley, MN 55426