Function: Finance & Administration
Reports to: Chief Financial Officer
The Credit Manager position is accountable for the accurate accounting of company accounts receivable and the entire credit granting 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.
Specific Duties and Responsibilities:
- Supervise Accounts Receivable and Mail/File departments.
- Work with the sales organization to communicate credit decisions and ensure timely review of new customers.
- Guide and educate sales team and Dealers on business and credit issues to assist in growth and achievement of corporate goals.
- Work with the sales organization to identify Dealers with potential growth opportunities, perform credit analysis and provide credit initiatives which enable achievement of company sales goals while managing payment delinquency and credit risk to acceptable levels
- Establish, monitor and keep a current Credit Policy manual that includes:
- Credit Management Policies on the credit function, including terms, opening new accounts, application process, credit investigation, credit reports, setting lines of credit and assigned authority limits, create and maintain credit scoring model, etc.
- Collection Management Policies on the collection function, including when to contact customer, contact methods, how to handle collection problems, assigning accounts to collection agencies and bad debt write off, etc., leading the company to meet its sales and risk management goals
- Identify and establish multiple payment/financing options to achieve sales goals including the review and use of credit insurance or Letters of Credit to serve as financial protection for the Company
- Work with GE Finance to establish dealer finance programs, consumer credit and monitor and assist GE with slow paying dealers
- Assist the sales organization and customers in understanding the finance options available from GE Finance for dealer floor plan financing and consumer credit.
- Develop and manage reporting tools, monitor and evaluate active accounts to reduce or prevent bad debt losses.
- Obtain signed security agreements for our dealers and file UCC/PPSA statements for them to ensure transactions are properly secured.
- Routinely monitor accounts and make recommendation to sales team for termination of accounts as appropriate.
- Design, oversee and manage the processing of credit references for effective credit risk management.
- Establish processes which ensure all cash applications are posted timely, accurately and efficiently.
- Monitor deductions being taken by customers and credit and debit adjustments made to customer accounts.
- Monitor the application and collection of late fees/finance charges.
- Make credit decisions within assigned authority supported by credit analysis and review of Dealer financial statements.
- Routinely review customer credit history and update credit limits accordingly.
- Initiate and lead process improvement and quality reviews to simplify and improve productivity with all aspects of credit and accounts receivable
- Oversee and manage the resolution of credit issues with dealer accounts
- Develop and implement a written plan that includes specific metrics, goals and objective targets for management reporting which includes monthly DSO and aging reporting.
- Manage relations with credit reporting, collection agencies and credit insurance providers. Review monthly credit insurance premiums and utilize credit insurance where appropriate.
- Responsible for credit card payment activity including interaction with our Merchant Services provider PNC Bank to insure best rates.
- Prepare and analyze end of year schedules for audit.
- Any other tasks assigned by management.
- Actively motivate and support direct reports professional growth through training, mentoring and coaching.
- Select, promote, transfer and otherwise treat employees equally without regard to race, religion, handicap and veteran status, sex, national origin, or age in accordance with all local, state and federal Equal Employment Opportunity and non-discriminatory regulations.
- College degree in business and experience in collections and accounts receivable.
- Strong leadership and communication skills to manage department and interact with other departments as needed.
- Strong customer service, customer relations and customer negotiations skills.
- Experience working with small retail businesses that sell to consumers.
- Have a thorough knowledge of credit-related laws.
- The ability to work under pressure and to establish and prioritize responsibilities in order to achieve desired results.
- Solid computer (Word, Excel, PowerPoint and ERP systems), organizational, communication and problem solving skills.
C. F. Martin & Co., Inc.
510 Sycamore Street
Nazareth, PA 18064