As a member of the administration and finance team, the Credit and Collections Specialist is responsible for reviewing the creditworthiness of existing and future customers, and the reporting, timely collection and follow-up of accounts receivable.
- Credit Control
- Review customer credit applications, credit history, and determine credit worthiness.
- Pull D & B or other credit reports on customers as required, and determine credit risk factors.
- Monitor credit extended to various customers to minimize credit risk.
- Suggest appropriate credit limit for a particular customer.
- Follow-up with customers on overdue accounts.
- Navigate customers’ online payment portals to determine payment status of outstanding invoices; submit additional information as required.
- Assist with the determination of ultimate application of cash receipts.
- Handle incoming and outgoing communication with customers pertaining to A/R
- Cost center maintenance and reporting
- Forecasts expenses by cost center
- Monthly reporting of actual to forecast
- Explains variances to forecast
- Document (in Excel) the status of overdue outstanding amounts.
- Generate periodic, accurate and up-to-date pertinent reports as requested by Controller and Company’s officers.
- Ensure that the status of a particular overdue receivable is known and being actively pursued.
- Continuous Improvement and monitoring of internal controls
- Identify systematic issues that are resulting in the delay of payment from our customers
- Work with other departments to implement process improvements; ensure the necessary documentation is in place to facilitate prompt payment of receivables.
- Develop, execute and maintain an efficient procedure and system for the active pursuit of past due accounts.
REQUIRED KNOWLEDGE AND SKILLS:
- Excellent communication, organizational and interpersonal skills
- Proficient in Excel; experience in other Microsoft applications
- Ability to work independently with a problem solving trait.
- High school diploma (associates degree preferred).
- Minimum of five years relevant experience collecting receivables from Automotive OEM’s in a Tier 1 capacity.
- Knowledge of customer website portals used for collections.
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