GENERAL SUMMARY: The Credit & Collections Analyst is responsible for managing the daily collection activities of the credit department as well as the chargeback process. The main objectives are to protect the company's accounts receivable assets through establishment of credit and financial controls and to contact delinquent accounts for payments and resolve any/all disputes in a timely manner.
REPORTS TO Mgr. Credit & Collections
ESSENTIAL DUTIES AND RESPONSIBILITIES:
• Maintain relationship with CIT. Review factored aging on a weekly basis to ensure receivables are collected and disputes are handled timely. Follow up as necessary. • Review and monitor cash flow on non-factored receivable weekly. Make calls to resolve issues and escalate when necessary. • Work with Factor on marginal credit risk accounts as well as assisting in collection. • Maintain active Documentary and Standby Letters of Credit. • Review chargebacks for trends and direct process changes to proactively reduce compliance issues. Interact and negotiate with both internal and external areas to prevent future chargebacks and ensure compliance. Escalate and involve upper Management when necessary. • Evaluate open orders for credit worthiness and approve orders. • Monitor the CIT aged trial balances to initiate credit backs, chargebacks & resolve past due accounts. • Maintain strong cash flow on the first cost house account collections and issue weekly reporting. • Manage dispute resolution process by working with sales, customer service & the customer. • Direct payment allocations (Wire, ACH, Checks) for AR posting. • Review new credit applications, monitor system setup & updates to customer master files. • Manage special "high risk" accounts. • Review CIT credit withdrawals, update customer accounts and notify customer service/sales. • Manage the International accounts; obtain prepay amounts, order releases & cash posting. • Monthly Bad debt account review for reserve. • Day to day interaction with Credit and Collection team and processes. • Work with team on process review and changes to streamline the business and capture all data needed.
REQUIRED SKILLS AND COMPETENCIES:
• Strong computer skills • Vast understanding of credit reporting • Proficient in reading & interpreting financial statements for the purpose of underwriting credit • Prior experience with UCC filings and personal guarantees • Excellent written and verbal communication skills • Ability to manage relationships both internally and externally • Strong audit background, problem solving and customer service skills • Ability to work in fast paced environment
EXPERIENCE: • Minimum two years of experience in Credit & Collections
PREFERRED QUALIFICATIONS:
• Retail industry preferred
EDUCATION: • Bachelor's degree in accounting, finance or business or equivalent work experience
