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SUMMARY: Responsible for the overall management of credit, collections and billing functions of the Company.  Provide leadership in formulating and implementing strategic objectives to meet company goals with an emphasis on continuous improvement of the order to cash process.  Develop the team, systems and processes with the goal to achieve best practices and improved collectability of accounts receivable.  Lastly, to be accountable for metrics related to quality of receivables and bad debt exposure.  

 ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned to meet business needs.

  • Create appropriate standards for setting credit limits on a risk scoring basis.
  • Analyze agings, identify credit risks/trends, and propose solutions that will maximize sales and minimize credit exposure through effective credit structuring.
  • Lead and drive successful resolution to legal situations including bankruptcies, receiverships, filing liens, and workout plan development by working with internal and external counsel to maximize collections/recoveries.
  • Lead interactions with key strategic customers to drive successful outcomes to disputes and resolution of large account balances with focus on a high level of customer service.
  • Identify and execute process improvements to improve collection of receivables and internal controls including development of formal written policies and procedures while ensuring compliance
  • Assist in preparing support for quarterly bad debt reserves and external audits.
  • Supervise Credit Representatives who are responsible for conducting credit investigation and collecting on delinquent accounts.
  • Supervise billing representatives in processing of billing, cash application and credit card processing functions.   
  • Manage and develop team through mentoring, setting challenging goals, and holding accountability to meet company objectives.
  • Liaise and work extensively with internal Sales teams/management to develop successful strategies to optimize/improve collection ability.
  • Drive process improvements through development of key metrics, implementation of more efficient tools, and continuing optimization of staff.
  • Prepare management reports on the status of credit and collections matters and to foster good credit relationships between customer and company. Review these reports frequently with senior management and the CFO
    • Review and establishment of appropriate levels of credit for customers within established dollar limits to permit maximum sales volume with appropriate levels of risk. Communicate and recommend various strategies to encourage sales, minimize risk and insure receivable portfolio stability.
    • Establishes, monitors, reviews and improves departmental policies and procedures for Credit approval, Collections, Deduction handling and resolution.
    • Develop processes and procedures for evaluating customer financials and setting and changing credit lines/limits, as well as credit holds; implement liens as necessary to major delinquent account as approved
  • Provide training of company sales representatives on company credit policies and practices.
  • Establish third party relationships for cost effective collections, legal, ratings and other credit functions
  • Identify accounts requiring collection agency or legal action and coordinate collections with third party contractors. 

QUALIFICATION/REQUIREMENTS:

  • A thorough knowledge of credit industry standards is a must.  
  • Strong communication, interpersonal and leadership skills.
  • Must have excellent negotiation and problem solving skills.
  • Ability to interact frequently with a variety of PartsSource personnel.
  • Must be detailed oriented.
  • Possess advanced mathematical and analytical skills.
  • Excellent communicator.
  • Knowledge of financial statements and cash flow analysis, industry/market credit research, liens and bonds.
  • Process improvement, people development, and project management are key skill requirements for this position

EDUCATION/TRAINING/EXPERIENCE

  • A Bachelor’s Degree in Business, preferably Finance or Accounting; MBA a plus
  • 8-10+ years experience in commercial credit and collections
  • 5+ years managerial experience in a commercial credit and collections environment
  • International credit experience
  • Experience in filing liens, bankruptcies and litigation proceedings 
  • Proficient with Microsoft Excel; Experience with Great Plains a plus   


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