Credit Manager
BRAMBLES / CHEP,
Total years of experience :17 years, 2 Months
BRAMBLES / CHEP, UAE (Jul 2013 to date)
CHEP is part of Brambles which is a listed company with an annual turnover of $ 5.5 billion and having presence in 60+ countries. CHEP is largest equipment pooling company in the world having more than 350 million assets in Aerospace, Automotive, Chemical, Consumer, Fresh Food and Manufacturing industries.
CREDIT MANAGER - MIDDLE EAST & NORTH AFRICA (Jul 2013 to date)
• Managed to reduce DSO from 108 days to 60 days by resolving customer disputes, improving communication and having an aggressive follow up policy.
• Managed to recover bad debts of over AED 1 million by resolving old issues with customers.
• Regularly meeting key customers in UAE, Saudi Arabia and other GCC countries to maintain a good relationship and resolve any disputes.
• Responsible for developing and maintaining a regional credit policy in line with Global credit policy of company.
• Regularly review customer aging reports with regional business development managers of all segments to ensure all disputes with customers have been resolved on a timely basis.
• Preparing monthly KPI report for AR and updating management through presentation on up to date situation.
• Regularly interact with sales department to communicate updated credit decisions and ensure timely review of new customers.
• Managing the credit approvals, account suspension and dunning process for MENA customers within assigned authority.
• Prepared collection forecast for MENA & movement of the bad debts for prior period.
• Undertake account reconciliations as and when required.
• Develop new processes, documentation and/or guidelines to improve the credit service experience for joint venture, internal and external customers.
• Responsible for approving the credit orders within approved limits on an as needed basis.
• Owning the process of planning, follow up and monthly reporting on the hire stock audits performed by customer service team.
JOHNSON CONTROLS, UAE (Jul 2012 to Jul 2013)
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries.
CREDIT CONTROLLER
• Achieve monthly collection target for the Middle East and the Gulf region.
• Manage the key customers for collection for the entire Middle East region and make sure to assign the proper targets and include the new customers in our credit evaluation.
• Add a new credit and collection tool to the system to improve the credit escalation and department collection for the JCI Middle East and giving the training for it to the collection team .
• Prepared weekly & monthly aging reports analysis.
• Prepared collection forecast for GCC & movement of the bad debts for the prior period.
• Prepared KPI & yearly reports for the internal audit from USA (H.O).
• Prepared daily cash tracker report for the management.
• Overseen the initial approval and release of local and export orders post review of customer credit status and ensure that order release process works within these set parameters & approval matrix.
• Assist in the setting up of the credit control system.
• Ensure that debts are paid in a timely manner.
• Do a regular customer meeting for cash collection.
• Maintain accurate records of all chasing activity.
• Handle disputed bills and negotiate to bring payment within the agreed terms.
• Respond promptly and completely to both client and internal enquiries.
• Undertake account reconciliations as required.
• Ensure monthly processing deadlines are met as required.
Credit Controller
• Monitoring daily reconciliation of cash Book Ledger against cashiers “Cash Receipt Summary” report to ensure compliance as per company policy.
• Overseen the initial approval and release of local, export and trading orders post review of customer credit status and forwarded the same for final approval to Finance Manager.
• Ensured all customer limits are within credit policy compliance norms, monitoring the renewal of bank guarantees, updated due files and sending approved encashment letters to secure customers outstanding balances.
• Reviewed business unit wise weekly aging reports analysis, ensuring its accuracy, passing the same to the business development team and facilitating the follow up of overdue amounts.
• Prepared monthly aging reports and performing analysis for budgeting and reporting team to know the credit exposure for the business as a whole and risk associated with each customer.
• Reconciled the general ledger against sub-ledger and inter-unit control accounts.
• Responsible for weekly cash flow forecasting and ensuring availability of funds for timely clearing of LC payments.
• Verifying accuracy of customer claims for refund and processing the debit notes on timely basis with approval from departmental head.
• Coordinated implementation of Oracle AR module for better AR management.
• Support Internal auditors and external auditors - KPMG by providing them on time and accurate information for smooth processing and closing of audit.
• Clearing all outstanding PDC on monthly basis and following up with the bank for outstanding PDC. In case of dispute referring the matter to credit controller.
Accounts Payable:
• Maintain strong relationships with main vendor’s by resolving their queries and ensuring monthly reconciliations of their accounts.
• Responsible to monitor and validate the posting of suppliers invoices for 9 companies with dimension of 200 invoices and 100 payment vouchers daily.
• Assisted in the development, implementation and providing training on purchasing policies to ensure that “best practices” being followed.
Accounting
• Responsible for the month end and year end closing of three legal entities including preparation of financial statements in coordination with Finance Manager.
• Review ledgers to ensure accuracy of information and processing correction entries where required.
• Monitor the loans and the LC's booking to ensure the accuracy of the interest calculations.
• Manage the Fixed Asset records and the reconciliations with the General Ledger.
• Review intercompany and related parties accounts reconciliation.
• Preparation and submission of more than 10 bank accounts reconciliation.
• Interact with internal and external auditor’s and provide them required information to support the timely completion of audit.
• Plans, organizes, assigns, reviews, and evaluates the work of assigned professional and technical support staff.
• Processing and posting of accounts receivables related journal vouchers.
• Review customer aging reports and follow-up for overdue receivables to keep DSO at minimum.
• Preparation of daily cash collection statement for (7) different branches.
• Responsible for managing three Bank accounts including their reconciliation, clearing of payments / deposits and processing of related vouchers.
• Coordinating Financial audits of the company to ensure smooth sign off of audited accounts.
• Supporting Finance manager in preparation of monthly financial statements for management review.
• Reconciliation of major corporate accounts like RTA and Dubai Taxi.