Accounts Receivable Chief Accountant - Gauteng - Vector Logistics

Description

Vector Logistics is a Supply Chain and Sales & Merchandising partner adding value to your business through a fully integrated, temperature-controlled network in Southern Africa. We are people serving people, with skilled, curious, can-do individuals at the forefront of our operations. Our vehicle fleet includes multi-temperature vehicles, enabling us to service businesses across frozen, chilled, and ambient temperature zones on a single delivery.

Job Purpose

• To manage Vector's debtors' book and control credit risk to maximize cash flow and minimize bad debts/write-offs.
• To drive the identification and execution of credit initiatives and build customer relationships.
• To ensure the debtors' book is managed to maximize cover and reduce premiums.

Key Responsibilities

Strategy Formulation

• Participate in the formulation and implementation of the finance strategy.
• Provide strategic input into the finance team regarding medium to long-term credit management.
• Ensure assigned and agreed strategic targets are operationalized and achieved.
• Ensure all internal and external stakeholders receive correct credit services in accordance with agreed service level agreements.
• Ensure credit service activities are performed in a robust financial control environment.
• Plan and develop best practice, systems, processes, and procedures for continued improvement meeting business needs in times of change.
• Ensure audit requirements are met and build relationships with internal and external auditors.
• Provide strategic input to sales teams internally and with principals to maximize sales to creditworthy customers.

Debtors Management

• Manage opening and closing of accounts processes.
• Monitor and review age analysis reports and take necessary action.
• Ensure customers comply with set terms of business and remedial action is taken where non-compliance occurs.
• Authorize stop-supply instructions for customers who have not complied with set payment terms, ensuring Credit team blocks relevant accounts on SAP system.
• Ensure letters of demand are sent to customers for accounts in arrears.
• Ensure reconciliation and correct allocation of customer payments.
• Ensure bank statement is reconciled in its entirety.
• Ensure accurate assessment and decision-making on customers with necessary securities obtained.

Credit Control

• Ensure the team obtains credit application forms and supporting documents from all customers, including credit limit requests, in line with National Credit Act.
• Manage applications to the Credit Guarantee Insurance Company (Lombard) and forward requested documents to Lombard to insure customer credit.
• Ensure security is obtained from the customer for difference between Lombard insured value if necessary.
• Manage negotiation of payment plans for customers in arrears who may still repay debt if trading continues and transfer credit customers onto COD if necessary.
• Approve credit applications up to authorized level or obtain authorization as per Delegation of Authority for greater amounts.
• Review securities/customer credit worthiness and solvency.
• Develop customer trends and behaviors by attending professional meetings and utilizing Credit information tools.
• Ensure accuracy and timelines are met with opening and maintaining customer information.

Customer Relationship Management

• Develop deep understanding of customer needs.
• Engage regularly with customers regarding related issues and requirements and provide feedback on how business meets and will meet their requirements.
• Develop strong rapport with key clients and continuously build trust, integrity, and confidence in service provided.
• Engage with Broker and Insurer on renewal of policy and negotiate best options.

Dispute Resolution

• Assume responsibility for resolution of disputes that have been appropriately escalated.
• Monitor and review documentation provided by customer to substantiate claims.
• Ensure pricing is confirmed with principal purposes of sign-off and authorization.
• Authorize passing of pricing credit note(s) in accordance with Company levels of authority where customers have been overcharged and 'special deal' applied.

Debt Recovery And Write-off

• Oversee preparation of legal file and submission to attorneys, including all required documents.
• Liaise with company attorneys over any disputes and appear in court if required to represent Company.
• Negotiate and agree settlement agreement terms with bad debtors through attorneys.
• Prepare write-off schedule with recommendations for approval by Financial Director Vector.

Financial Management

• Report monthly performance, budget variances, and KPIs to Financial Director.
• Authorize creditors (PO) for payments.
• Provide month-end reports to senior management/Directors.
• Manage debtor information from source to report.
• Ensure end-to-end data to insight process and tools are optimized for efficiency and ease of use enabled by digital solutions.
• Drive innovation in business analytics tools and models for better credit management outcomes.

Cash And Cost

• Compile monthly cash forecasts and identify opportunities to optimize cash and working capital.
• Review department overheads and budgets and ensure Credit team maintains adherence to budget.
• Drive savings plans in line with annual ambition.

Internal Control

• Continuously identify and pursue opportunities to improve credit control procedures.
• Follow up on audit queries and ensure corrective action is taken by responsible teams.
• Ensure compliance with approved procedures by means of control checks performed by Credit team.
• Coordinate risk management plan and risk mitigation strategy across team and drive execution.

Team Leadership

• Monitor staff performance and provide regular feedback.
• Manage staff activities, ensuring service levels are met and protocols are adhered to.
• Coach and support staff where necessary to achieve objectives.
• Manage and deliver on succession plans to enable development of future generation of leaders and specialists, ensuring optimal turnover and retention levels are maintained.
• Champion staff training and development through utilization of available training opportunities or contributing to development of new training solutions in collaboration with national training specialists.
• Conduct regular performance appraisals with subordinates.
• Establish sound staff and labor organizing and communication structures and systems.
• Lead team towards meeting strategy and targets through regular communication and utilization of full organizational talent management tool set.

Qualifications And Experience

Qualifications, Skills and Experience Required for the Job

• Minimum 8 years credit control experience with at least 3 in management position.
• CA (SA).
• Additionally, qualifications or training in data science, business analytics, or statistics will be advantageous.

Skills And Competencies

Leadership standards:

• Provide inspirational leadership.
• Create culture of execution.
• Display business insight and innovate.
• Develop customer service obsession.
• Develop commitment through engagement.

Knowledge:

• Accounting principles and practices.
• Commercial and contract law.
• Good understanding of Tax, Credit, and VAT Acts.
• Broad knowledge of Group operations and systems.
• An understanding of multiple key performance indicators, inter-relationship, and bottom line sensitivity.
• Advanced knowledge of MS-Excel, MS-PowerPoint, and Power BI is crucial.
• Candidates should be highly analytically inclined and commercially savvy.
• Confident working on their own with large data sets and able to work on both routine and ad-hoc tasks.

Skills & Attributes:

• Planning, organization, and coordination.
• Relationship building.
• Verbal and written communication.
• Interpersonal.
• Analytical and evaluative thinking.
• Tolerance of stress and pressure.
• Attention to detail.
• Ability to interface and demonstrate leadership.
• Ability to work independently and in team-oriented, collaborative environment.
• Ability to identify and coordinate shifting priorities, demands, and timelines through analytical and problem-solving capabilities.
• Persuasive, encouraging, and motivating.