Key Responsibilities:
• Credit Policy and Procedures:
o Develop, implement, and maintain comprehensive credit policies and procedures to minimize credit risk and optimize cash flow.
o Ensure compliance with all relevant regulations and internal guidelines.
o Regularly review and update credit policies to reflect changing market conditions and business needs.
o Understand GST applicability and impact on billing and credit notes
• Credit Risk Assessment:
o Evaluate the creditworthiness of new and existing customers through thorough financial analysis and risk assessment.
o Establish and manage credit limits for customers based on their financial stability and payment history.
o Monitor customer credit exposure and identify potential risks.
• Collections Management:
o Lead and manage the collections team to ensure timely collection of outstanding receivables.
o Develop and implement effective collection strategies to minimize overdue accounts and bad debts.
o Monitor and report on collection performance, including DSO (Days Sales Outstanding) and aging analysis.
o Handle escalated customer disputes and negotiate payment plans.
• Team Leadership and Development:
o Recruit, train, and manage a high-performing credit control team.
o Provide coaching and mentoring to team members to enhance their skills and performance.
o Foster a collaborative and results-oriented work environment.
• Reporting and Analysis:
o Prepare regular reports on credit and collections performance for senior management.
o Analyze credit data and trends to identify areas for improvement.
o Provide accurate and timely information to support financial planning and decision-making.
• Customer Relationship Management:
o Build and maintain strong relationships with key customers to facilitate effective communication and resolve credit-related issues.
o Collaborate with sales and customer service teams to ensure a seamless customer experience.
• Legal & Compliance:
o Work with legal counsel when necessary to pursue collections through legal channels.
o Ensure compliance with all applicable laws and regulations related to credit and collections.
• Technology Implementation:
o Understand operations and billing software and impact on billing and collection
o Implement and utilize Credit control software to streamline operations and enhance efficiency.
o Ensure proper data management and reporting from the credit control software.
Qualifications and Experience:
• Bachelor's degree in Finance, Accounting, Business Administration, or a related field. Master's degree or professional certification (e.g., 1 CA, CMA ) is preferred.
• Minimum of 5-7 years of experience in credit control and collections management,
• Proven track record of managing large volume accounts, preferably within the logistics or transportation industry.
• Strong understanding of credit risk assessment, financial analysis, and collection strategies.
• Excellent leadership, communication, and negotiation skills.
• Proficiency in using credit control software and MS Office Suite.
• Oracle ERP experience a big advantage
• Ability to work under pressure and meet tight deadlines.
• Strong analytical and problem-solving skills.
• Knowledge of the Courier and Express Parcel industry is highly desirable.
Key Performance Indicators (KPIs):
• Days Sales Outstanding (DSO)
• Bad Debt Ratio
• Assignment of invoices to correct Regional office in reports for correction
• Aging Analysis (percentage of overdue accounts)
• Customer Satisfaction related to credit and collections.
• Team Performance.
Personal Attributes:
• Strong ethical standards and integrity.
• Results-oriented and proactive.
• Ability to build and maintain strong relationships.
• Excellent organizational and time management skills.
• Adaptable and able to thrive in a fast-paced environment.
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