-
Create, adjust and enforce credit policies and procedures. Identification of highest risk areas and create credit processes to minimize downside while enabling sales. Developing thorough credit reviews for largest exposures and present to management for evaluation. Create credit scoring models for specific customer channels and implement process as appropriate
-
Identify key credit metrics of customers to ensure liquidity and profitability are known when evaluating a key credit exposure. Ensure proper financial statement disclosures are provided by customer commensurate with credit exposure/risk.
-
Thoroughly train staff on department credit and collections policies and procedures, adjusting and refreshing regularly and validating compliance. Actively manage staff regularly to ensure message is clear and success is attained. Provide regular systems training to ensure staff is utilizing the system to the fullest potential
-
Set and manage credit limit approval levels for customer credit exposures
-
Manage largest exposure/potential downside/difficult credit accounts to ensure receivables protected appropriately
-
Ensure equipment is secured with appropriate UCC filing when substantial risk/exposure exists
-
Maximize staff capabilities by utilizing their skills best to fit the demands of the customer channel. Regularly review staff performance, providing feedback to develop and grow capabilities
-
Effectively utilize Oracle system and supporting systems to create efficiencies and eliminate waste. Identify software solutions that will increase effectiveness and efficiency for the staff
-
Continuously review performance and adjust where appropriately installing/refresh best practices
-
Create and install collections processes using key levers to increase velocity including leveraging order holds, Dunning Letters, late fees and third-party collection agency usage
-
Monitor staff performance of collections by identifying key metrics and regularly evaluating performance against those standards. Large exposures and high risk/delinquencies will be prioritized to maximize velocity/collections. Perform regularly monthly meetings with staff on collections of accounts to ensure progress and proper escalation/handling and staff engagement
-
Perform collections on accounts escalated by staff members where appropriate
-
Constantly review staff’s workload (channels, number of accounts, number of invoices, types of invoices, etc.) and business demands to ensure that resources are allocated effectively
-
Identify issues effecting credit and collections personnel and work with cross functional areas (Order Management, Sales, Service, Order Fulfillment, Accounting, etc.) to ensure that effective solutions are implemented. Keep open lines of communication with cross functional areas to better understand how they affect the customer and the performance of Customer Finance
-
Develop key metrics and goals for collections staff to manage their monthly performance (i.e. DSO, % past due, > 90 days past due, > 180 days past due, bad debt, etc.)
-
Present status of the portfolio and new developments to Senior Management monthly
-
Ensure that proper documentation and support is provided in all legal actions. Report monthly status on each case. Manage process for seriously delinquent accounts and make sure that they are written off timely, if appropriate
-
Review all requests for short-term note receivables (less than 12 months) and ensure that promissory notes, security agreements and UCC filings are executed to protect the equipment
-
Present delinquency and potential losses to accounting quarterly to allow for accurate bad debt reserve
-
Assist with International subsidiary credit/collections best practice training/implementation and support
