Credit Manager - Cape Town, South Africa - Signal Hill Products

Signal Hill Products

Verified Company

Cape Town, South Africa

1 week ago

Posted by:

Thabo Mthembu

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Description

Signal Hill Products is looking for a Credit Manager

Position/Title:
Credit Manager

Reports To:
Share Service Manager

Function:
Finance

Area:
South Africa

Overall Responsibility:

Reporting directly to the Share Services Manager, the incumbent will be responsible for the creditworthiness of the company's customer base and overseeing the credit granting process for the company.
The Credit managers is responsible for optimising the companies sales and reduce bad debt losses by maintaining the credit policy.
The Credit Manager is responsible for assessing the creditworthiness of potential customers and conducting periodic reviews of existing customers.

Focus Area 1- Governance and Control

The Credit Manager will be responsible for managing and mitigating credit risk within a group of companies.
Developing and implementing policies and procedures to identify, assess, and manage credit risk, ensuring that all credit risks are adequately measured, monitored, and reported whilst ensuring maximum customer retention.
Manage all customer credit approvals and collections as well as all related operational requirements focusing on the collection of debt in alignment with group, credit policy and latest legislation and practices.
Manage all receivables financial reporting, including provisioning and trade costs accruals and payment.
The Credit Manager will work with various departments within the organization to ensure compliance with regulatory and legal requirements related to credit risk management.

Focus Area 2- Customer Engagement

The credit manager needs to understand the sensitive relationship with customers and need to find ways to manage the credit risk whilst ensuring customer retention.
Utilizes excellent communication skills to build strong relationships with customers and sales team while creating a rapport based on trust and mutual respect
Implement these solutions with internal departments within the group and manage the delivery of these solutions on a daily basis
Manage all customer credit approvals and collections as well as all related operational requirements focusing on the collection of debt in alignment with group, credit policy and latest legislation and practices.
Send statement of accounts to all credit customers within a week of the month end
Ensuring all customer credit information is on file and up to date at all time Researching and evaluating clients' creditworthiness and performing ITC check where necessary
Utilizes excellent analytical skills to evaluate credit worthiness of potential and existing customers.
Creating credit scoring models to predict risks

Focus Area - Operational Execution

Ensuring the invoices are raised timeously
Engage with all relevant internal departments and ensure that all queries relation to the finalising any invoices are resolved within agreed timeframes
Engaging with customers where required to ensure that their accounts are kept within approved limits
Engage with all companies within the group to ensure that all queries relating in any payment delays is addressed as quickly as possible
Assisting with the adherence and improvement of the company's credit risk management policies
Identifying possible revenue collection control weaknesses and making suggestions for improvements
Review and release customers on hold and release invoices for shipment
Daily reporting of cash collections for cashflow planning
Reporting of customer credit limits and payment terms
Contacting identified customers to negotiate alternative settlement plans and then manage the implementation of those plans thought the group
Approving of all credit notes
Engaging the insurers and or debt collectors where necessary, ensures appropriate legal recourse is pursued
Proactively review customer account to identify possible bad debt risks
Informing key management of daily bank balances and receipts

Focus Area - Reporting and technology

Monitors and evaluates percentage of order releases used to determine accuracy of credit limits and customer deterioration, velocity of time to release orders, and velocity needed to determine payment trend analysis including days to settle legal collections
Utilizes strong knowledge of Excel to create reporting that provides deeper analysis of customer account receivable balances
Maintain strong relationships with internal and external stakeholders by ensuring a high % of accounts paid on/before due date and a low number of accounts "on hold"
Review credit check report and high balance report
Assist internal and external auditors with all information and feedback requested
Conduct monthly credit meetings and bad debt approvals
Prepares monthly reports to senior management
Provides guidance, training and coaching to employees to ensure established work performance standards are met
Focuses on ERP, machine learning and AI technology to further enhance streamline order t