Primary Objectives of Position
This position leads the in-house credit review of customers and the collection efforts of high-value or strategic clients. The role interfaces with the billing group and/or third-party collections agency and in-house collectors to direct the Company’s collection efforts. The individual in this role will be expected to develop and recommend policies and processes regarding the investigation of customers, extension of credit lines, and effective collections to reduce outstanding receivables on the ageing report. In addition, the role oversees the negotiation and course of action for overdue accounts. This position provides strategic and tactical leadership for a team of Collection Specialists and Leads and reports to the VP, Controller.
Major Duties & Responsibilities
o Review and approve in conjunction with the Commercial department all customer application requests
o Oversee corporate A/R portfolio, and actively participate in collection efforts involving heavy customer contact
o Partner closely with cross functional team leaders, including Commercial, Finance, Legal and various other departments to strategize customer collection efforts
o Be the voice for the Credit and Collections department to Senior Management and Commercial Team by reporting on collection metrics, customer portfolio risks, and providing recommendations for improvement
o Set objectives for collections team that align with company cash goals and manage the success of these goals
o Monitor and maintain customer statuses in corporate database (Sales Force and NetSuite)
o Improve and develop processes to identify, resolve, and mitigate customer account delinquencies
o Work with Finance to forecast bad debt projections and potential customer defaults
o Leverage systematic processes with use of software or using internal IT resources to improve collection efforts
o Develop and improve performance metrics that can be used to evaluate performance of collections staff
o Primary liaison with outside collection agencies (1st and 3rd Party)
o Preparation of customer litigation documentation, make court appearances, and evaluate and recommend legal settlements
o Assist Asset Recovery team with details to locate and recover equipment from defaulted customers
o Project manage ad-hoc objectives set for the Collections department from Senior Management
Job Specifications
o Ability to analyze, organize and manipulate large amounts of data from multiple systems
o Strong relationship building skills and the ability to collaborate with multiple managers across the organization
o Must have deep knowledge and understanding of credit and collections process, methods, and strategies and ability coordinate and lead team members
o Must be proactive, strategic, and take initiative
o Strong in diligence and persistence along with excellent time management skills.
o Skilled in Excel and PowerPoint or other presentation tools
o Knowledge of laws surrounding credit and collections
o Knowledge of credit software systems and ability to assess now software
o NetSuite ERP, Salesforce, and Credit & Collection software are considered a plus
Education and Experience
o 5 – 7 years credit and collections experience, with strong preference for Maritime and/or Transportation industry
o Must have 5+ years of supervisory or managerial experience
o Four-year college degree in related business studies