Credit and Collections Manager

Industrial Metal Supply, founded in 1948, is a leading metal distributor with seven locations in California and Arizona. We are entering an exciting new growth phase as we strive to further expand our operations and profitability This has created a fantastic career growth opportunity for a Credit and Collections Manager to lead our highly visible department.

POSITION OVERVIEW

Responsible for ensuring that customers and suppliers receive the appropriate level of credit in a timely manner. Effectively manages accounts involving substantive credit risks. Confirms the timely collection of Accounts Receivable. Provides exceptional customer service. Performs related work as required.


REPORTS TO: Chief Financial Officer

To succeed in this position, the incumbent will bring their industry experience and expertise to accomplish the following short and long term objectives:


Within the first 30 days, the incumbent will review current credit policy and develop recommendations for update and modifications for CFO consideration, keeping in mind balancing the need to increase sales with the need to minimize credit risk exposure.

Within the first 60-90 days, the incumbent will assess the team’s capabilities and create a growth plan and outline expectations for each staff member.

Within the first 90 days, the incumbent will create a team building and morale boosting plan that fosters collaboration and open communication for implementation after proper review and consideration.

Within the first 90 days, the incumbent will develop relationships within IT and create an in-house solution for streamlining repetitive tracks that Credit Reps carry out on an ongoing basis in this fast-paced, high volume environment.

Within 120 days, the incumbent will develop relationships with the Sales Department and Customers in order to guide policy development to attract large profitable accounts along with others.

Within 120 days, the incumbent will assess critical Credit Department roles and functions and determine who among the staff are qualified to best fit the roles and division of workload.

Within 120-150 days, the incumbent will evaluate key customer accounts to discern and determine, with greater precision, what are the customers’ credit needs and how can we reevaluate them on a regular basis.

The incumbent will assess and evaluate current department processes and determine which LEAN methods can be implemented to streamline workload and speed up functions and processes, staying up-to-date with industry regulations and best practices to ensure the company is compliant with all rules and regulations, and train the credit team on the same.


RESPONSIBILITIES AND DUTIES

•Establishes Company credit rating criteria, credit ceilings, and associated policies and procedures.

• Identifies efficient and cost-effective third-party credit tools negotiating favorable terms, which support department informational needs.

• Tracks business, industry, and economic trends related to short and long-term credit decisions.

• Assesses the risks of credit transactions with customers and makes timely decisions on potential credit risks.

• Works closely with branch management teams to ensure that efficient and accurate credit approval processes are established and maintained.

• Monitors and prepares periodic reports on accounts receivable.

• Develops and implements processes to improve cash flow and reduce outstanding receivables.

• Proactively updates credit files and credit limits on all significant accounts, keeping the management team informed of any status changes.

• Prepares reports to aid management in monitoring Company financial performance, taking corrective action as necessary and appropriate.

• Hires, trains, and manages high quality staff capable of meeting the objectives of the department.

• Develops staff and department performance goals in line with Company objectives.

• Conducts employee performance reviews in a timely manner

• Facilitates communication with all departments to ensure customer satisfaction.

• Liaises with credit card processors to ensure the timely and accurate processing and management of purchases made with credit cards.

• Carries out all responsibilities in an honest, ethical and professional manner.

• Drives on company business.

• Performs other duties as required.


SUPERVISORY DUTIES

In accordance with applicable organizational policies/procedures and Federal/State laws, may perform the following supervisory responsibilities:

Interviewing, hiring orienting and training employees; planning, assigning, and directing work; coaching and appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.


MINIMUM QUALIFICATIONS/CORE COMPETENCIES

The following are the minimum qualifications which an individual requires in order to successfully perform the duties and

responsibilities of this position. Please note that the minimum qualifications may vary based upon the department size and/or geographic location.

• Exercising independent judgement and decision making based on standard policy or working procedures.

• Demonstrated understanding of Best Management Practices (BMP) in the areas of credit and collection management,

cash management, customer service, and process improvement.

• Knowledge of the principles and practices of sound personnel management and supervision.

• Intermediate proficiency in and knowledge of the Microsoft Office Suite computer software.

• Strong customer, quality and results orientation.



SKILLS

• Practically applying proficient math skills, proper spelling, grammar, and punctuation.

• Excellent verbal, nonverbal, written, and executive presentation skills.

• Excellent planning, organizational, and time management skills.

• Excellent leadership, negotiation, and supervisory skills.

• Proficiency in operating modern desktop computers, related software, and related modern office equipment.

• Intermediate proficiency using Microsoft Office Suite computer software

.

ABILITIES

• Ability to think strategically, understand complex business and financial data, and develop innovative solutions.

• Ability to take ownership of, and focus on critical initiatives.

• Ability to prepare and maintain records and reports, both manually and electronically.

• Ability to communicate effectively, both orally and in writing.

• Ability to establish and maintain effective working relationships with supervisors, fellow employees, customers, and

the public.

• Ability to facilitate progressive change.



REQUIREMENTS/SPECIFICATIONS

• Graduation from an accredited college or university with a bachelor’s degree in business administration or a closely related field and a minimum of seven years increasingly responsible related experience.