Credit Control Manager

Overview

The Credit Control Manager will oversee the company's credit control and accounts receivable functions. This role is key to ensuring prompt collection of outstanding amounts, managing customer credit exposures effectively, and ensuring adherence to established credit policies and payment terms.

Key Responsibilities

• Manage all credit control and collection efforts to optimize cash flow.
• Track customer accounts, outstanding invoices, aging reports, and overdue payments consistently.
• Ensure that payments are collected on time following agreed terms.
• Develop and enforce collection plans targeting overdue and risky accounts.
• Follow up rigorously on long-outstanding debts, escalating issues when necessary.
• Monitor collection success using predefined targets and KPIs.
• Assess and determine customers' creditworthiness, proposing suitable credit limits and payment schedules.
• Continuously oversee customer credit exposure, ensuring limits are respected.
• Identify potential credit risks early and recommend actions to mitigate financial loss.
• Periodically review customer credit limits based on payment trends and business needs.
• Suggest credit holds or other measures for customers with significant overdue balances.
• Maintain accurate and reconciled customer account records.
• Address account discrepancies, manage payment application, and resolve invoice disputes.
• Collaborate with other departments to tackle billing and collection challenges.
• Generate timely and precise reports on accounts receivable and aging balances.
• Support month-end close and related financial reporting concerning receivables.
• Lead, guide, and develop the Credit Control team, assigning responsibilities and setting performance goals.
• Evaluate team performance relative to collection and credit control targets, providing coaching to enhance results.
• Ensure collection activities are well-documented and controls are effective.
• Partner closely with Sales, Finance, Legal, and other functions to resolve collection matters and manage credit risks.
• Maintain professional client relationships while enforcing payment compliance.
• Escalate critical credit risks and collection difficulties to senior leadership promptly.
• Develop, implement, and update credit control policies and procedures, ensuring adherence and internal control compliance.
• Identify and drive initiatives to optimize cash collection, lessen overdue balances, and bolster credit risk management.

Qualifications & Experience

• Bachelor's degree in Accounting, Finance, Business Administration, or similar discipline.
• Between 7 and 10 years of experience in credit control, accounts receivable, collections, or financial management.
• Proven managerial or supervisory experience is necessary.
• Experience handling a large portfolio of customers is advantageous.
• In-depth understanding of credit risk management, collections strategies, accounts receivable, and financial controls.
• Proficiency with ERP systems alongside advanced skills in Microsoft Excel.

Competencies

• Strong knowledge in Credit and Risk Management.
• Expertise in Accounts Receivable and Collections administration.
• Financial analysis capabilities.
• Leadership and effective team management skills.
• Capability in negotiation and commercial awareness.
• Problem-solving aptitude and decision-making skills.
• Relationship and stakeholder management.
• Excellent communication.
• Process improvement orientation and attention to detail.
• Focus on results delivery.