About the position
Hire Resolve's Client, a leading IT company is looking for an experienced and strategic Credit Manager to join their team at their head office in Johannesburg. The Credit Manager will lead and oversee the credit control function. The successful candidate will be responsible for optimizing collections, cash flow, and credit control processes, with a particular focus on subscriber base churn management and debit order collection management.
Key Roles and Responsibilities:
Credit Control Management:
- Develop and Implement Credit Control Strategies: Design and implement effective credit control strategies, policies, and procedures that align with the company's financial goals.
- Credit Assessment: Assess the creditworthiness of new and existing customers, determine appropriate credit limits, and establish credit terms.
- Delinquency Management: Continuously monitor and manage overdue accounts, utilizing proactive communication and negotiation strategies.
- Data Analysis: Analyse credit data and financial statements to make informed credit decisions and identify potential risks.
- Customer Communication: Manage customer inquiries and disputes related to invoices and payments, collaborating with cross-functional teams, as necessary.
Collections and Cash Flow:
- Collections Optimization: Implement strategies to ensure the timely and efficient collection of outstanding debt, reducing accounts receivable aging, and improving cash collections.
- Credit Holds: Review and approve credit holds and releases, balancing risk, and business needs.
- Sales Collaboration: Collaborate with sales teams to resolve customer issues affecting collections and maintain a strong working relationship.
Subscriber Base Churn Management:
- Churn Analysis: Develop and implement strategies to monitor and reduce subscriber base churn, working closely with the marketing and customer retention teams.
- Churn Reporting: Generate regular reports and analysis on churn rates, identifying root causes and recommending actions to mitigate churn.
Debit Order Collection Management:
- Debit Order Process Enhancement: Optimize the debit order collection process to reduce errors and minimize failed payments.
- Exception Handling: Manage exceptions related to debit orders, investigating, and resolving issues promptly.
Team Leadership and Development:
- Team Management: Supervise, train, and motivate a team of 50 accounts receivable professionals, setting performance targets and conducting regular evaluations.
- Coaching and Skill Enhancement: Provide coaching and support to team members to enhance their skills and foster a culture of continuous improvement.
- Work Environment: Foster a positive and collaborative work environment within the department, promoting teamwork and productivity.
Process Enhancement:
- Process Optimization: Continuously review and optimize accounts receivable processes for efficiency, identifying and addressing bottlenecks.
- Technology Utilization: Leverage technology and automation to improve departmental operations, including the adoption of ERP systems.
- Industry updates: Regularly monitoring changes in regulations, and best practices to adapt and ensure compliance and effectiveness in debt recovery efforts.
Legal Account Management:
- Legal Oversight: Oversee accounts handed over to legal for collections, ensuring effective recovery while minimizing legal expenses.
- Agency Relationships: Monitor and manage relationships with external debt collection (EDC) agencies to optimize recoveries.
Compliance and Reporting:
- Compliance: Ensure that all credit control activities comply with company policies, industry regulations, and legal requirements.
- Reporting: Prepare and present regular reports on accounts receivable performance to senior management, including actionable insights. Included but not limited to monthly IFRS9 reporting requirements as well as collection fees analysis. Must be able to produce information that will be consumed at a board level.
Stakeholder Relations:
- Relationship Management: Cultivate and maintain strong relationships with external and internal stakeholders, including customers, credit reporting agencies, and auditors.
- Cross-functional Collaboration: Collaborate with cross-functional teams to improve the overall customer experience and collections processes.
Key Requirements:
- Education: Bachelor's degree in Finance, Accounting, or a related field
- Experience: Minimum of 10 years of progressive experience in credit control and accounts receivable management, including 5 years in a management role. Should have operated at senior level and show ability to translate information into working activities. Have proven track record in managing large volumes of transactions whilst delivering accurate reporting. Knowledge of annuity-based collections and DebiCheck would be beneficial.
- Financial Acumen: Proven track record of successfully managing a large team in a similar role, with strong analytical skills and the ability to interpret financial data.
- Communication Skills: Excellent communication, negotiation, and interpersonal skills to interact effectively with both internal and external stakeholders. Ability to produce accurate & timely information for the CFO to aide decision making processes.
- Regulatory Knowledge: In-depth knowledge of credit laws, regulations, and best practices, staying current with industry changes.
- Technical Proficiency: Proficiency in financial software and Microsoft Office Suite, with advanced Excel skills. Familiarity with ERP systems (e.g., SAP, Oracle) is a plus.
- Problem Solving: Strong problem-solving abilities and attention to detail to resolve complex credit and collections issues. Able to pick up concepts quickly.
- Time Management: Ability to work effectively in a fast-paced and deadline-driven environment, managing multiple priorities.
- Leadership: Exceptional leadership skills, including the ability to motivate and mentor staff, and foster a culture of growth, team spirit and accountability.
If you meet the above requirements and want to make a career-changing move, apply today by either filling in the online application form or emailing your CV to Hire Resolve at [Email Address Removed].com
You are also welcome to contact Michaela Boustred on LinkedIn or call her on [Phone Number Removed];.
Please note that correspondence will only be conducted with shortlisted candidates for this position. Should you not hear from us within 3 days, please consider your application unsuccessful.
Desired Skills:
- Credit Manager
- Credit Manager
- Credit Manager
