Credit Analyst
eaton
Total years of experience :16 years, 4 Months
• Responsible for all facets of receivables management
• Establishing new accounts, credit limits and payment terms
• Maintain the corporate credit policy.
• 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
• Analysis of the overall credit exposure & for the recommendation of terms of credit
• Customer orders evaluation and approval
• Submission of Letter of Credit, Collection documents to banks
• Applying for advance bank guarantees/Bid Bond/Performance Bond
• Customer query/dispute resolution through coordination with sales team/customer service team.
• Generate invoices and send out statement to customers.
• Ensure timely collection on due receivables and efficient management of receivables to support positive working capital improvements
• Initiate accurate payment allocation and forward request to shared service to reflect clean balance ledger.
• Preparing cash collection reports and cash collection forecast reports.
• Generate efficient AR aging analysis and review AR aging to ensure compliance.
• Bad Debt and write off processing as per policy and reporting
• Manage relations with credit insurance providers by notifying insurers regarding default payment or any other adverse information about customers as per the insurance policy clauses.
• Co-ordination with the lawyer for filing of legal cases.
• Analyzing information and evaluating results to choose the best solution and solve problems.
• Balance sheet AR account reconciliation.
Achievements:
• Recognized by VP - Finance EMEA and Regional Finance Director for collection from non-moving account.
• Reduced Dec’15 DSO by 9.5% days compared to forecast.
• Actively engaged in internal audits
• Recognized for continuous improvements and placing tight credit controls on Systems Business.
• Managing and accountable for
Scrutinizing Letter of Credit (LC) terms and conditions for all export (Middle East and Africa) and local (UAE) customers.
Submission of non-discrepant LC documents to banks.
To liaison with customers for LC documents acceptance/payment in case of delay.
• Accountable for negotiation of Collection Documents (DA).
• Ensuring timely receipts under open account payment method.
• Immense knowledge of payment methods viz Letter of Credit, Collections, Open Account, Bank Guarantee, Advance Payment.
• Ensuring order releases on day to day basis within credit limit for our customers
• Monitoring receivables on a regular basis, maintaining account receivables at lowest possible levels, reporting overdue and optimizing DSO.
• Preparation of monthly cash flow forecast by analyzing account receivables due in each month and intercompany accounts payables
• Planning for Bill Discounting as per cash flow proposal.
• Hold bi-monthly AR review meeting with DGM-Finance.
• Ensuring that bank charges levied for all transactions are as per facility agreement.
• Monitor credit balances and ensuring compliance with corporate credit policy.
• Ensuring that the AML policy is adhered to on day to day basis.
• Provide training on AML policy to internal staff.
• Reconciliation of bank accounts.
• Sending statements, confirm balances and follow up for outstanding payments with the help of Sales Team.
• Managing any customer query and/or dispute resolution through coordination with sales team.
• Adroit at planning and organizing tasks effectively and proficiently.
• Communicate effectively and professionally within the company and with partners.
• Building rapport with business partners and bankers.
• Proactively seek knowledge to improve functions.
• Proven track record of improvising the day-to-day process to increase efficiency.
• Applauded as employee of the month in December 2011 in Finance & Control Division
Achievements:
• DSO targets were always achieved.
• Proven track record of best performance in credit control department
• Proactive in reducing accounts receivable (AR) and was instrumental in reducing AR from February 2012 to March 2012 despite of increase in sales.
• Proactive in reducing cost to the company and assisted company to recover USD 30, 000/- being excess bank charges levied by one of our banker.
• To assist the Ratings Analyst for assigning the ratings to companies.
• To understand the various means of finance offered by banks to companies.
• To assist Ratings Analyst for evaluation of companies with following parameters:
Market Position of companies
Financial Evaluation
• Preparation of rating note for our clients.
• To meet the tight deadlines for sending rating notes to rating committee members.
• To compare the peers of our clients and incorporate the same in rating note
• To do rating comparison of our clients with other companies having same rating as per our recommended rating for our client.
• Responsible for internal coordination for Non - Cooperative Clients.
• To liaison with bankers for working capital requirement and funds required for expansion project.
• Responsible for making provision for our import purchases of vitrified tiles and marble which constituent around 70% of our turnover for FY 2007-08.
• Responsible for reconciliation of current accounts.
• Responsible for interest payment on all kinds of loan.
• Preparation of enhancement report for our working capital facilities with consortium banks.
• Preparation of Greenfield project report of leasing out property at Thane developed through our subsidiary NRPL (Nitco Realties Pvt. Ltd.) and liaison with term lenders for term loan.
• Preparation of report for credit rating (as per BASEL II) to CARE RATINGS
• Analysis of assessment procedure for Corporate Lending by banks.
• It facilitated to understand how banks assign Credit Risk Rating to the borrowers.
• Analysis of Project Finance Report submitted by borrower to PNB for fund requirement
Master of Management Studies (MMS) with Specialization in Finance from Mumbai University in 2008
✓ Bachelor of Commerce from Amravati University in 2006.
HSC from Amravati University 2003
SSC from Amravati University in 2001.