Conducts credit investigations on new accounts and credit risk reviews on existing accounts. Responsible for updating credit limits based on financial information obtained directly from the customer, credit reporting agencies and industry credit groups. Manages order releases or holds according the department guidelines. Responsible for customer master set up related to payee and headquarter assignment. Initiates and pursues the collection of out-standing accounts receivables, including steps to collect unearned cash discounts. Reports factual credit information to industry groups.
JOB ACTIVITIES/DUTIES COLLECTIONS
1. Daily review of the cash batches from the bank (lockbox, check, wire, ach) manages
against the aged receivable report.
2. Utilize various customer web sites to retrieve customer check and remittance data.
3. Establish work load priorities in a fast paced environment.
4. Initiates and manages aged receivable management to improve collection process and
manage an acceptable DSO.
5. Responsible for prepay / cash in advance process for marginal accounts
6. Prepare or assist with month end and year end closing reports.
JOB ACTIVITIES/DUTIES CREDIT
1. Review, Release and/or hold customer orders based upon credit guidelines.
2. Process credit applications. Compile information, analyze data, determine
appropriate credit limit and verify credit terms. If customer does not meet
requirements, arrange other payment methods.
3. Monitor credit exposures and payment trends of current customers. Evaluate
credit limit extensions and manage to business needs.
4. Communicate weekly and monthly credit reports to the National Food
Manufacturers Association. Monitor customer changes regarding current events
within industry - utilizing F&D reporting, trade reports and Flash event
5. Understand the basics of bankruptcy.
6. Review customer credit information with internal sales force, marketing, food
brokers and other concerned parties and educate them on financial risks or
conditions on doing business with certain accounts. Due to the confidentiality of
this information, have to determine what information can be shared and what
information is private to the credit/finance department.
6. Work on special projects that are assigned by the Credit Manager.
Education : 4 year degree in business or a 2 year degree in accounting plus 2 years of related experience, or 5+ years in credit capacity.
Experience : Minimum of 5 years experience in Accounts Receivable, Credit and Collection techniques. Knowledge of the food industry preferred.
Skills: Self starter, ability to work independently but support a team environment. Strong professional communication skills, both verbal and written. Display technical skills, including basic knowledge for Excel and Word. Ability to establish work load priorities, resolution to problems with minimal supervision. JDE software experience and bilingual language a plus.
Internal : Interaction with Supply Chain, Cash Application, Sales, IT, Claims Team and Transportation Departments
External : Food Service brokers, Trade Groups.
Problem Solving :
1. Analyze and evaluate customers and assign appropriate credit limits, evaluate and manage risk.
2. Determine how to conduct a credit investigation when trade information is not readily available.
3. Collect outstanding receivables from accounts that are slow payers and determine how to reduce their Days Sales Outstanding without jeopardizing the customer/manufacturer relationship.
4. Create and manage Customer Master set up related to bill to and headquarter structure.
4. Educating others as to the legal aspects of order to cash which forms or documents are legal and binding.
Work Structure : Works under the supervision of the Credit Manager. The Credit Analyst works independently and establishes priorities dependent upon projects and issues that are primary focus at any given time. Age of receivables and financial risk are primary factors to determine priority. Credit Analyst is responsible for an assigned region and updates the Credit Manager on areas of concern or importance.
The information contained herein is not intended to be an all-inclusive list of the duties and responsibilities of the job, nor are they intended to be an all-inclusive list of the skills and abilities required to do the job. Management may, at its discretion, assign or reassign duties and responsibilities to this job at any time.
The duties and responsibilities in this job description may be subject to change at any time due to reasonable accommodation or other reasons.
Malt-O-Meal is an equal opportunity employer.
MOM Brands - 5 months ago
MOM Brands (formerly Malt-O-Meal Company), a privately held and family owned company, is the third largest cereal company in the United...