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This role is responsible for overseeing the assessment of customer creditworthiness, managing outstanding accounts receivable, minimizing bad debt risk, and ensuring adherence to the company’s credit policies. This position plays a key role in safeguarding the company’s financial interests by working closely with sales, finance, and external partners.
Job Responsibility:
Evaluate the financial health and stability of new and existing clients through a detailed review of their financial records, assessing liquidity, repayment abilities, and collateral values
Supervise the recovery efforts for overdue balances, liaising with third-party collection services and legal advisors when appropriate
Address and mediate disputes linked to credit, working with other departments and customers to promptly resolve issues related to credit risk exposure
Review and approve credit applications, determining suitable credit lines and payment terms for customers
Prepare and circulate periodic financial and credit reports for management and sales, ensuring relevant stakeholders are informed of significant credit developments
Cooperate with the sales team to support better credit practices and to reduce credit-related losses and delinquent accounts
Continuously track client accounts to ensure compliance with service terms and proactively recommend adjustments to credit limits when necessary
Monitor the company’s receivables to control and lower the potential risk and costs of bad debt, adjusting internal processes as needed
Enforce and update the corporate credit policy
initiate liens or legal proceedings against severely delinquent accounts if other efforts are exhausted
Coordinate closely with internal leaders to maintain strong financial controls and communicate non-routine transactions or risk exposures
Ensure all accounts receivable processes comply with established accounting standards, including the application of incoming payments, resolution of payment discrepancies, processing of credit memos, and correction of errors related to various payment methods
Oversee the accurate and timely monthly, quarterly, and annual financial closings for accounts receivable statements
Requirements:
Associate’s or Bachelor’s degree in Finance, Accounting, Business Administration, or a related discipline
At least three years of experience handling formal credit decisions, risk assessments, and credit policy enforcement within the manufacturing, industrial, or fabrication sectors
Strong oral and written communication skills to interact with clients and cross-functional teams effectively
Advanced analytical and organizational abilities, with a keen attention to detail
Proficient in Microsoft Office applications and financial/accounting systems