Collection & Credit Officer

Job Description

Develop and implement companys policies and procedures related to credit and collection activities to insure the Company from credit risks from customers who transact on credit basis. Oversee the evaluation and recommend for approval of new or existing credit, adjustments to customer accounts, and referral of overdue accounts for legal action. Initiate legal action through legal department for recovery of bad debts. Responsible for the credit appraisal of each existing & potential customers/ dealers.KEY ACTIVITIES:Customer CreationSetting Credit Limit / PeriodExcess Credit MonitoringCredit Limit/ Period ReviewCredit EnhancementReceivables ManagementSales Order ApprovalCheque CollectionDebt RealizationBounced Cheque handlingWatch Customer ListingLegal Action against Problematic CustomersInternal ControlsRecord Keeping & CorrespondenceDebtors ConfirmationCollection ForecastingHandover/ takeover of Sales StaffAudit SupportVigilance & Pro activenessInterpersonal Relationship?KEY RESULT AREAS:Set the credit limits / credit days for each dealer/ customer in coordination with the Management & Finance Department as per company guidelines & policies.Monitor customer?s/ dealer?s credit worthiness continuously and their reputation in the market.Ensure Company?s financial exposure is optimized based on the business potential and by negotiating terms and conditions with all customers/ dealers along with Sales Team, Regional Sales Managers & the Sales Director.Ensure individual Dealer/Customer exposures are within company norms and contractual terms.Maintain complete files of all dealers/ customers with all necessary supporting documents and contracts for fixing credit limits and credit days and create/ update the same in the customer master system.Review dealer/ customer contracts from time to time to ensure compliance within company policies and guidelines.Review and process any deviation from dealer/ customer agreements and recommend for final approval by Credit Manager.Monitor the trade receivables at the company level on a continuous basis (Both Credit period and Credit amount) and initiate corrective action where required.Monitor corporate sales and receivables and ensure that reconciliation of accounts is done on a periodic basis.Monitor and ensure security and authenticity of the transaction with all Dealers/ Customers, both cash and credit. The goods must not move out of the warehouse till confirmation & acknowledgement is obtained from the Finance department on the authenticity of the documents.Maintain cordial relations with dealers/ customers through regular personal interactions. Keep informed of market scenario and competitors activity on credit limits & credit days by regular field / customer visits.Initiate legal action through legal department against customers who default on payments and are classified as bad debts.Monitor the status of undelivered at the warehouse and initiate corrective action as required while approving the new orders.In a personal capacity represent the Company before government agencies to resolve all Customer complaints. (Legal dept)Liaisons on behalf of the Company for all licenses and permissions required from Government agencies. (Legal dept)Effective leadership provided to the Credit & debt collectors team in the kingdom.

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