CREDIT & COLLECTION SPECIALIST
The Credit & Collections Specialist position is responsible for credit risk analysis and assessment, credit limit determination, order hold/release decisions, plus timely invoice and deduction collection activity across the analyst’s entire group of assigned accounts. The position requires an organized, efficient and goal-oriented individual with excellent customer service skills, negotiation skills, and analytical skills. Successful analysts will also possess strong written and verbal communication skills for use in dialogue with both external customers and internal ‘customers’. The capacities to research data, solve problems and independently make decisions that fall within policy are also essential traits required for this role. Overall, the objective of the Credit & Collections Specialist and the A/R function as a whole is to create and maintain a balanced environment that supports the company’s efforts to maximize sales and margin, while simultaneously making efficient use of the Company’s working capital and minimizing bad debt risk to the Company.
Duties & Responsibilities:
• Gather customer information as described by company policy.
• Review, analyze and develop customer risk profiles using customer information.
• Conduct periodic credit reviews of your assigned customer based, following our policy guidelines for frequency.
• Contact customers with past dues balances for collection purposes, and collect effectively while maintaining the customer relationship.
• Review orders on credit hold at multiple points daily and make timely hold/release decisions
• Complete all recurring reporting related to aged open balances in a timely manner.
• Develop and implement viable solutions for high risk customers that seek to meet our customer’s needs, while also remaining in compliance with company policy.
• Make timely and accurate determinations when an account is deemed uncollectible
• Partner with other departments to ensure a common objective.
• Participate in other critical projects upon request and audit requests
• Position is to ensure invoices are paid within terms, analyze claims/discrepancies, and assist in the resolution.
• Daily review of customer invoice aging reports. Contact customers regarding any past due invoices and/or claims/discrepancies. Identify and escalate any major issues to next level supervisor, immediately
• Extensive reporting responsibilities, including, but not limited to, Weekly Cash Forecast, DSO, Bad Debt Exposure, Month-End/Quarter-End Reconciliations, Ad-Hoc, etc.
• Perform ad-hoc analysis and analytical work as required.
• Maintain customer and data confidentiality in all aspects of the role.