Credit Control Manager
Manlift Qatar
Total years of experience :17 years, 0 Months
Collection Management
Creating procedures and policies that ensure timely payments while maintaining a high level of customer retention.
Reconciling complex accounts that have been escalated from the AR team
Monitoring debtor balances to ensure a reduction in debtors DSO.
Ensuring credit and collection policies and procedures are followed within credit control team
Liaising with customers, as well as internal personnel including the sales team
Check customer’s credit applica.tion and credit limit increase requests and approve or deny applications based on company standards and requirements
Negotiate payment plans with customers and set up terms and conditions
Maintain accurate records of overdue, analyze the effectiveness of the company’s credit control system and implement changes to improve profitability and reduce bad debts
Ensure customers pay on time and chase any overdue invoices
Improve and implement debt collection processes when there are any overdue invoices or payments, and initiate legal procedures if necessary
Managing a team of Credit Control Specialists team
Review and report on Aged Debtors
Manage write-offs, bad debt provisions and setting up of payment plans f
Responsible for meeting targets in monthly receivables and keeping bad debt to a minimum.
Assist the Head of Finance with cash forecasting.
Managing the function of timely invoicing and delivery of invoices to customer
Personally, visit the largest customers to establish relations and to have periodic credit reviews.
Credit Management
Implementation and maintenance of a set of comprehensive Credit Risk Policies and Procedures.
Monitor and report on deviations from credit standards.
Assess and monitor credit limits and credit risk.
Review, revise and implement the Credit Policy and the company Credit Control procedures.
Reviewing credit applications and credit references to set credit limits and ensure credit worthiness
Set and monitor credit limits and liaise with the Finance Manager with regard to decisions about individual customers.
Hold monthly credit review meetings with Finance Manager.
Keep the company up to date with new credit management procedures and techniques.
Credit management
Implementation and maintenance of a set of comprehensive Credit Risk Policies and Procedures.
Monitor and report on deviations from credit standards.
Introduce and evolve effective reporting and assessment tools to minimize risk and proactively identify problem areas and customers.
Review credit applications, customer financial statements, credit reports, etc. to determine credit worthiness and extending or revoking credit limits for new and existing customers.
Consistently analyze delinquent accounts and work with sales managers and debt collectors to collect past due account receivables.
Identify accounts requiring credit holds, or write-offs and coordinate collections with the sales team.
Evaluate current credit processes and recommend improvement changes to senior management.
Coordinate with internal departments to resolve billing disputes that may affect the ability to collect receivables.
Provide direction and input on accounts that involve legal, collection and bankruptcy proceedings.
Personally visit the largest customers to establish relations and to have periodic credit reviews.
Maintain a department organizational structure sufficient to meet all goals and objectives.
Measure department performance with appropriate metrics.
Manage relations with the sales department.
Accounts Receivable management
Responsible for all activities in the accounts receivable function.
Ensuring that all major accounts work to agreed order to cash cycle.
Manages collection activities such as sending follow-up inquiries, negotiating with past due accounts, keeping track of cash receipts and referring accounts to collection agencies.
Creates financial reports relating to account receivable function and status of accounts.
Daily and month end reporting and account reconciliations.
Investigating and resolving queries relating to nonpayment of invoices.
Overseeing the effective collection of company debt.
Monthly reporting of the Key Performance Indicators for the department.
Reporting to the finance manager on a monthly basis on outstanding accounts.
Make recommendations to improve quality of invoicing and collection procedures.
Support Management by providing timely and accurate payment and account standing information.
Manage the monthly reconciliation of other AR related accounts (such as unapplied cash, unclaimed credits, clearing and bad debt).
Supervises the accounts receivable staff in processing invoices to establish the company receivables and work with Customer Service and other departments to resolve any outstanding issues.
Selects and hires employees. Trains and evaluates employees to enhance their performance, development, and work product.
Addresses performance issues and makes recommendations for personnel actions. Motivates and rewards employees including providing salary increases.
Handling Collections from Early Bucket accounts to Recovery accounts.
Contacts customer and establishes reason for past due account situation; makes arrangements for payments to bring account current and follows up to ensure obligation is satisfied.
Advises debtor with past due accounts of proper payment schedules and the principles of credit and credit standings.
Providing financial counseling to discuss and resolve the debt situation; restructures or revises payment terms within well-established limits and procedures.
Maintain the coordination with the bank and other legal departments for collection efforts.
Utilizes available resources and skip tracing techniques to ascertain locations of persons with past due accounts.
Locate and notify customers of delinquent accounts by mail, telephone, or personal visits in order to solicit payment.
Manage overseas collection agency single handed. Responsible for the regional credit collections portfolio for India, Pakistan, Srilanka, Lebanon and various other countries including Western countries, for all products.
Identify accounts requiring collection agency or legal action and coordinate collections with third party contractors.
Perform various administrative functions for assigned accounts, such as recording address changes and purging the records of deceased customers.
Recommend and provide accounts to management for bad debt write-offs.
Arranging and Issuing of letters to customers for Settlement Agreement, Clearance, Dunning and Liability.
Preparation of MIS for Collection and Recovery:
• Allocation Report - Daily
• MIS on Product wise /bucket wise - Daily
• Reconciliation Report - Monthly
• Agency Performance - Monthly
• Collection Report - Monthly
• Commission Paid out MIS - Monthly
• Status Report - Monthly
• Ensure all international recoveries and collections are done as per the banks policies.
• Handle monthly commission payout to the International Collection Agencies.
• Negotiate with delinquent customers for settlements of old cases and of relevant remittance entries to the customer accounts.
• Manage and report activity by regular performance and activity reports including forecasting.
• Manage Bank’s relationship with various International Collection Agencies.
• Handle various agencies prepared invoices, agency cases, data entry and agency transfers of all agency cases in to international collection system.
Collection Agency Performance management:
• Ensure agencies are meeting the targets on monthly basis
• Rate agency quarterly / annually basis on their performance.
Agency compliance:
• Validate and Update all agency contracts
• Ensure Central bank guidelines are covered under the contract.
• Manage standardization of Agency Agreements / Dockets and ensured standardized Agreements for new agencies signed up.
• Ensure all the payment made to external agencies have been delivered through proper channel and vice versa for receiving payments.
• Manage to ensure total number accounts allocated vs accounts received by external agencies are matched off before month end.
Portfolio Allocation to External collection agencies:
• Manage allocation of loss / bad debts accounts/skip cases to International Collection Agency.
• Retrieve monthly allocation for both collection and recovery accounts and reconcile it with collection system to identify the gaps.
• Identify cyclical allocation for credit cards.
• Prepare collection allocation summary for team leaders.
• Identify early track for bucket wise summary for all retail products.
• Manage preparing daily collection performance report, product wise summary for NCL monthly, run rate for in-house and agency accounts.
Specilaised in business administration