Credit and Financial Analyst
4 weeks ago
Credit and Financial Analyst
We are seeking a detail-oriented and proactive Credit and Financial Analyst to manage and optimize our credit and collections processes. In this role, you will be responsible for assessing creditworthiness, managing accounts receivable, and ensuring timely collection of outstanding invoices.
Key Responsibilities:
- Process all credit applications for potential new customers.
- Conduct reference checks, run D&B reports & obtain financial statements when appropriate.
- Work with Sales and Brokers to complete files for any information needed.
- Review the entire active customer base annually, make recommendations for any customer credit limit changes.
- Change must be presented with proper documentation for upper management approval.
- Perform a daily review of sales orders that go on credit hold.
- Release orders that fall under the customer's credit limit without management review; obtain management approval for release of orders that will extend customer over credit limit.
- Correspond with customers, brokers, and sales managers as needed.
- Responsible for collecting on the entire aging.
- Negotiate special payment plans as necessary, after obtaining senior management approval.
- Identify, record & determine status of all chargebacks.
- Communicate via bi-monthly reports the status of the chargebacks to the salesmen.
- Initiate collections proceedings on denied chargebacks.
- Manage bad debt determination.
- Initiate collections process if necessary.
- Provide Accounts Receivable and Sales information for analysis.
- Add new customers into TMM & review coding on all customers periodically to ensure reporting accuracy.
- Assist in developing Accounts Receivable & Collections policies & procedures.
- Participate in external credit associations.
- Perform other duties as assigned by the Controller.
Qualifications:
- Bachelor's degree in Finance, Accounting, Business Administration, or a related field.
- Proven experience in credit and collections, preferably within the manufacturing sector.
- Strong understanding of credit management, financial analysis, and collections strategies.
- Excellent communication and negotiation skills.
- Proficiency in accounting software and Microsoft Office Suite.
- Ability to work independently and manage multiple priorities in a fast-paced environment.
- Detail-oriented with strong analytical and problem-solving skills.
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