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Credit Officer- EMIRATI / UAE NATIONAL

1.00 to 10.00 Years   Dubai, United Arab Emirates   11 May, 2023
Parisima Talent
1 Jobs Openings
Job LocationDubai, United Arab Emirates
EducationNot Mentioned
SalaryNot Mentioned
IndustryFinancial Auditing; Financial Services
Functional AreaNot Mentioned

Job Description

Parisima strives to deliver world-class, bespoke recruitment solutions. From Board and Executive moves, through to talent mapping, strategic hiring projects and complex recruitment programmes across the region. Parisima excels in Recruitment Process Outsourcing (RPO), Permanent Placement and Contract Staffing. Parisima has the capability to create unique solutions to meet your talent requirements.Our Client, an International HVAC Company, are currently seeking to hire anÿEMIRATI/ UAE NATIONAL - Credit Officerÿto join them in their offices in Dubai. Job description is as follows.Purpose of Role/ ????? ?? ??????ú The Credit Officer will manage an Accounts Receivable portfolio for an (HVAC) with operations in the Middle East & Africa, including the related credit and collection activities to minimize credit risk while maximizing cash performance.ú The role includes follow up on receivables and collections; supporting the documentary credit processes; credit hold management and order release support; driving dispute resolution; financial, commercial and market analysis; customer visits; escalation to collection agencies and legal counsel; customer credit reviews, manage and support treasury with the guarantee issuance process, liaison with our trade partners and banks, etc.ú The role is not limited to but will include project work and different sectors of IR collections from time to time.Requirements/ ?????????

  • Open to UAE Nationals only
  • University Degree in Business, Finance, Accounting or similar field.
  • Minimum of 2 years experience in Credit & Collection or similar role
  • Knowledge and worked with Letters of Credit
  • Hands-on work experience in credit, preferably with an experience from a manufacturing background with good reconciliations skills.
  • Good understanding of commercial credit and collection practices and significant knowledge of financial analysis.
  • Experience of working on Letters of Credit.
  • Good accounting background & financial knowledge in order to drive account reconciliation during the customer visits, helping boost up collections.
  • Good ERP knowledge with excellent MS office skills
  • Good communication (verbal/written) skills & good negotiation skills - articulate & confident enough to push back customers raising in genuine disputes.
Responsibilities/ ??????????ú Provide necessary information about Letters of Credit as and when needed based on discussion with customer if any; support the regional manager with decisions on the presentations and cash flow decisions.ú Responsible for the collection and the maintenance of account receivables: contact customers, follow up on payments and engage late payers to maximize collection efficiency.ú A monthly Statement of Account should be sent to all customers with open balances.ú Pre-calling should be done 15 days prior to invoice getting due to anticipate potential collection problems, identify disputes and determine payment status.ú Update system with feedback based on customer contact, register promise to pay (PTP) in system with date of payment commitment.ú Follow up and ensure past dues do not exceed over 180 days, ensure that existing 180+ days overdue are followed up on regular basis and escalate for further action.ú Check and report that Dunning Letter are sent monthly or more frequently to delinquent accountsú Ensure funds are correctly applied to the relevant customers; keep unapplied cash to the minimum. Support the cash application team as and when needed.ú Support in credit assessment of new and existing customers and approve credit limits in line with Limits of Authority assigned to the role.ú Provide information on credit checking and order holds and release on timely basis. Notify manager of significant issues impacting collection of outstanding receivablesú Prepare reports as per monthly schedule and on ad hoc basis for the credit and financial functionsú Expedite resolution of customer disputes by linking with Sales/Order Management/Warranty as required.ú Informing management regarding effectiveness of strategies for various accounts.ú Promote a culture of continuous process improvement and collaborate actively with the OTC Operational Excellence team.ú Support the Centre of Excellence ? Credit for major credit reviews for all customers whenever required.ú Ensure compliance with Corporate and Local credit policies and other compliance requirements such as Trade Compliance, Sarbanes Oxley, etc.

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