Credit and Collection Manager
Tech Group
Total years of experience :23 years, 3 Months
Creating procedures and policies that ensure timely payments while maintaining a high level of customer retention.
Monitoring debtor balances to ensure a reduction in debtors DSO.
Ensuring credit and collection policies and procedures are followed within my team.
Liaising with customers, as well as internal personnel including the sales team.
Evaluating new credit requests and conducting client credit checks.
Setting up the terms of credit for new clients
Negotiating payment plans. Managing the collection of all payments and debts.
Responding to client inquiries.
Ensuring payments are on track to be paid within the agreed term.
Creating weekly debtor reports and accounts information for management.
Building and maintain string relationships with debtors.
Keeping detailed records of collection activities and conversations.
Meet and negotiate terms with external debt collection agencies and law firms.
Job purpose
In charge of the Group Companies Credit & Recovery process, including the consistent application of a credit policy, periodic credit reviews of existing customers, and the assessment of the creditworthiness of potential customers, with the goal of optimizing the mix of company sales and bad debt losses, overseeing collection efforts to ensure all money owed to the company is billed and received correctly and in a timely fashion.
RESPONSIBILITIES
• Maintain a department organizational structure sufficient to meet all goals and objectives.
• Motivate the credit and collections staff.
• Manage relations with the sales department.
• Maintain the corporate credit policy
• Recommend changes in the credit policy to senior management
• Manage customer credit files
• Monitor the credit granting and updating process
• Accept or reject the staff's credit recommendations
• Personally investigate the largest customer credit applications
• Personally visit the largest customers to establish relations.
• Direct interaction with main clients in resolving receivables delinquencies
• Monitor periodic credit reviews.
• Coordinate with Lootah Legal Department head, for legal action against defaulters.
Reporting To: Group CEO
Job purpose
In charge of the company revenue control, customer sales and profitability analysis, interface with sales managers, customers and top management.
RESPONSIBILITIES
• Assure timely collection of monies due to the company.
• Monitor and report on deviations from credit standards.
• Assure timely and accurate invoicing.
• Manage cash application making sure all cash receipts are applied properly.
• Conduct credit checks on all customer, establish and manage limits.
• Make recommendations to improve quality of invoicing and collection procedures.
• Weekly reporting of invoicing totals/aging totals/cash receipts/invoice adjustments
• Full control on Selling Expenses like Debit/Credit Memo’s to customers, free of charge goods, promotions, discounts, rebates, ..etc
• Customer profitability analysis by SKU and market
• Sales and operating profit analysis vs last year and actual
• Decision support regarding pricing and customer support schemes changes including running simulations for different scenarios
JOB PURPOSE
Manage, review and enforce credit policy, manage and monitor the credit granting and monitor periodic credit review and to set collection strategies, action plans and prepare and deliver reports within the field of Credit Management and Collections.
KEY RESULT AREAS
Granting of Credit to customers as per company policies and procedures.
Meeting customers, when required, to ensure collection targets are met.
Ensure collections procedures are adhered to.
Prepare, review and deliver receivable reports.
Development of the Credit Section within the Finance Department.
Inter departmental coordination to ensure alignment in processes and procedures regarding Credit Management and Collections.
MAIN RESPONSIBILITIES
Enforce and maintain credit policy.
Monitor the credit granting and updating process.
Monitor periodic credit review.
Customers’ accounts opening, closing, Monitoring and upgrading.
When required meet customers to set payment plans for outstanding debts.
Develop collection strategy and action plans and ensures that they are carried out.
Report outstanding and overdue debts in a timely manner.
Coordinate closely with the management and sales team in credit management and collection issues.
Manage relations with credit bureaus, collection agencies, lawyers, liquidators and governmental representatives (when required)
Provide advice to managers and sales staff regarding credit management, collections, and payment terms in contracts as well as providing legal advice in the same area.
Guide and educate sales team and customers in Action’s credit policy.
Calling for monthly Credit Meetings with Business Unites Management.
Ensure that the company has all the relevant information on the debtor & take full hold of outstanding sales balances before due date to confirm payment.
Monitor Bank Guarantees, Retention amounts for reduction and cancellation.
Insure prompt answer for customers’ needs and resolve all their problems, to ensure prompt payment.
Keeping good Customer relationships.
Guaranty continues developed & up-to-date Credit controlling team, by setting training programs & courses with coordination with HR department.
MAIN RESPONSIBILITIES
Ensure that payments are received in accordance with company’s current terms.
Control risks related to non- & late payment,
Revising monthly divisions Debtors Reports from Group Accounts Department with divisions’ remarks.
Monitoring divisions progress in collections.
Review customers credit application, Set Credit Limits, payment terms & create customers’ accounts.
Monitor and review current customers credit Limits.
Ensure that the company has all the relevant information on the debtor.
Flowing Up critical cases and key customers.
Following up retention amounts and all documents related (ex. Hand over certificates..)
Answer customers’ needs and resolve all problems for clients to ensure prompt payment.
Handle legal actions against delinquent customers (Civil & Criminal).
Deal with liquidators.
Recommend write off and provision for bad debts.
Raising monthly Management debtors report.
Following up projects Bank Guarantees for reduction and cancellation.
Maintain a balanced relationship with customers.
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