To maintain sound and constructive credit policies, procedures, and practices; to administer the PWM credit operations in a manner that will aid in the merchandising of PWM products, enhance customer goodwill, promote customer growth and stability, and provide for the prompt turnover and adequate protection of the company’s investment in accounts receivable. Accountable for 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.
ESSENTIAL FUNCTIONS OF THE JOB
- Oversee all duties of credit and accounts receivable staff
- Formulate, establish and maintain general credit policies, procedures and practices
- Organize the Credit operation to ensure the responsible and judicious granting of credit, the efficient collection of accounts and pursuit of delinquent accounts
- Oversee credit granting process with approval limit of 500K
- Establish terms of sale for new and existing customers
- Produce monthly Credit and A/R reporting to keep management informed
- Conduct/oversee periodic performance reviews
- Establish goals and KPI’s for credit and accounts receivable team
- Oversee write off administration
- Oversee Accounts Receivable
- Set and maintain yearly Credit/AR budget
- Review, negotiate and approve yearly credit contracts
- Build and maintain relationships with collection agencies, credit reporting agencies
- Review vendor agreements and compliance documents to insure PWM is adhering to all domestic and international regulations
- Work closely with Controller and accounting team to insure appropriate GL distribution
- Produce monthly A/R reconciliation reporting to controller
- Participate in yearly audit process
SUPERVISORY AND LEADERSHIP RESPONSIBILITIES
- Manages annual $30-60m in Credit to Trade Accounts
- This position manages a team of 2 or more individuals in both exempt and non-exempt roles.
- This position is responsible for setting and managing the budget for Credit and Accounts Receivable department of $700K.
- This position works directly with the human resources department on employment actions such as hiring, corrective actions, and terminations.
- This position is responsible for periodic performance reviews, setting goals and KPI’s and providing feedback for Credit and Accounts Receivable staff.
- Oversee training and expectations for new staff
CORE SKILLS AND COMPETENCIES REQUIRED FOR THE POSITION
- Strong negotiation skills
- Ability to work under pressure
- Insure credit operations meet guidelines and periodic objectives set by PWM management against company’s strategic plan
- Review and approve credit exposure of up to 500K
- A/R delinquency and bad debts are limited and within scope
- Provide resources and guidance on gathering and maintenance of customer information
- Review aging to limit bad debt exposure
- Consistent review of held orders, DBT or bad debt, future concerns or opportunities
- Publish monthly reports on Past due and Held orders.
- Provide support for credit decisions to ensure procedures are being followed
- Timely follow up on collection assignments and, bankruptcy filings
- Good overall understanding of finance concepts and accounting principles
- Thorough understanding of industry group reporting
- Excellent knowledge of legal aspects of credit, including credit law, litigation and bankruptcy
- Experience in leadership and coaching
- Requires accuracy and attention to detail
- Strong interpersonal, verbal and written skills
- Ability to prioritize assignments and work effectively under time constraints
- Cultivates new ideas, processes and systems that can help achieve “LEAN” fundamentals
- Incorporates best practice principles
- Strong time/task management skills and ability to work with minimal supervision.
- Accept responsibility and be accountable for individual and team activities
SYSTEM & SOFTWARE QUALIFICATIONS
- Excellent knowledge of credit information systems and resources available.
- Experience in system upgrades
- Strong proficiency in MS Office suite
- Knowledge of credit information systems and resources available
- Email- Microsoft Outlook
- Knowledge with Adobe
- Understanding of online document management systems
- Navigation of online vendor and financial portals
EDUCATION AND EXPERIENCE (minimum requirements)
- Bachelor’s degree and professional credit certification CBF (Credit Business Fellow) or CCE (Certified Credit Executive).
- At least five years of experience in credit management in Wholesale Business to Business collections
- Knowledge of federal and state collection laws and regulations
- Two years international Credit experience
- Strong planning skills and experience; ability to formulate goals and objectives.
- Strong organizational skills; ability to translate policy, goals and objectives into procedures and organize job positions to execute
- Strong personnel skills, including hiring, evaluating and terminating.
- Strong control and reporting skills.
PHYSICAL REQUIREMENTS AND WORKING ENVIRONMENT
- Good motor skills for oral and hand-written communications. This position requires a great deal of communicating with customers, management, and other employees via telephone, email and letters.
- Able to talk on phone. Speak English clearly. Multi language skills a plus.
- Read documents with fine print.
- Sit or remain stationary for long periods of time.
- Mental demands for time sensitive activities.
- Able to work Monday through Friday including some seasonal overtime. Available and willing to work extended hours as necessary to meet deadlines, complete special projects.
OTHER REQUIREMENTS
- This position requires quarterly travel to industry meetings.
- This position requires attendance at local bi-monthly industry group meetings
Interested candidates, please click here to apply.