Accountant (Credit & Collections)
1 day ago
Somerset
Job Description Job Description: Local - on site position Interviews will be via Teams Monday - Friday 8-5 Credit & Collections Experience: A Hands-On Approach for Dynamic Roles Essential Skills, Responsibilities, and Qualifications for High-Impact C&C Professionals Introduction In today’s rapidly evolving business landscape, the role of Credit & Collections (C&C) professionals is more critical than ever. Companies rely on robust C&C teams not only to maintain healthy cash flow but also to build strong customer relationships, safeguard assets, and work collaboratively across departments. The most impactful C&C professionals are those who possess a “roll the sleeves up” mentality—digging deep into the details, proactively resolving issues, and thriving in fast-paced environments. This document outlines the experience, skills, and responsibilities that define the ideal C&C candidate for such an immersive role, ensuring alignment with the demands and expectations of dynamic organizations. Core Experience in Credit & Collections • Direct Collections Activities: The ability to actively pursue collections is essential. This goes beyond sending reminders—it requires making outbound calls, negotiating payment plans, and building rapport with customers in order to collect monies owed from delinquent accounts within an assigned portfolio. A hands-on collector understands the nuances of communication and adapts their approach for each customer, overcoming objections and identifying win-win solutions., • Customer Account Reconciliations: Reconciling customer accounts is a daily reality. This includes matching payments to invoices, investigating discrepancies, and ensuring accounts accurately reflect the customer’s financial standing. The “in the weeds” professional doesn’t shy away from complicated reconciliations—they dig in, research underlying issues, and collaborate with other departments to resolve discrepancies swiftly., • Order Review & Release: Reviewing orders on credit hold and determining whether to release or retain the order based on account status is a crucial function. This requires a measured, analytical approach, as well as the judgment to make decisions that balance customer needs with company risk., • Dispute Resolution & Deductions: Addressing disputes and deductions calls for both tenacity and diplomacy. Whether the dispute arises from a billing error, shipment issue, or contractual misunderstanding, the C&C professional investigates, coordinates with internal teams, and communicates clearly with the customer until a resolution is reached., • Business-to-Business (BTB) Experience: Many credit professionals have experience dealing with business clients, where the stakes are higher and transactions more complex. BTB collections requires an understanding of corporate structures, payment cycles, and relationship management, all while maintaining professionalism and persistence., • Aging Report Analysis: Reviewing aging reports to identify overdue accounts and prioritize collection activities is a fundamental skill. The best professionals interpret the data, spot trends, and proactively address potential issues before they escalate., • Cross-Departmental Familiarity: Effective collections professionals understand how Sales, Customer Service, Finance, and other departments influence accounts receivable. They work collaboratively, seeking information and support to resolve outstanding balances and payment disputes., • Documentation & Proof of Delivery (POD): Pulling PODs and other documentation is vital when customers dispute charges or claim non-receipt of goods. The ability to quickly locate, verify, and present supporting documents demonstrates thoroughness and reliability., • Collections Platforms: Expertise in collections tools and platforms such as SAP, Oracle, Eclipse, QuickBooks, and CRM systems is invaluable. These tools allow professionals to track communication, manage disputes, analyze account history, and automate routine processes., • ERP Systems: Familiarity with ERP solutions (e.g., Oracle PeopleSoft) and credit reporting systems (Dun & Bradstreet, Creditsafe) enables the professional to gather comprehensive data on customers, assess creditworthiness, and monitor risk exposure., • Outbound Calling: Effective collectors are comfortable making outbound calls to customers, negotiating payment terms, and following up on outstanding balances. This skill requires persistence, tact, and exceptional verbal communication., • Billing & Payment Plans: Experience with billing processes and structuring payment plans helps customers find solutions to settle accounts while maintaining positive relationships. This also requires careful documentation and adherence to company policies., • Vendor Negotiations: Negotiating with vendors over billing discrepancies or payment terms is an additional skill that strengthens a company’s financial position and helps maintain strong supply chain relationships., • Collect outstanding monies from delinquent accounts and advise Sales Consultants on collection strategies., • Identify potential bad debts and escalate unresolved accounts to management for further action, including outsourcing to collection agencies., • Respond to customer statement inquiries, answer correspondence and phone requests, and obtain information from Sales regarding returned mail., • Reconcile customer accounts, ensuring discrepancies are identified and resolved efficiently., • Review existing customer credit limits and authorize increases up to specified thresholds (e.g., $25,000)., • Prepare documentation and recommend accounts for outsourcing after all internal collection attempts have failed., • Coordinate with internal departments to resolve disputes, reconcile balances, and answer customer inquiries regarding outstanding AR., • Education & Experience: Bachelor’s degree in Business, Finance, Accounting, or equivalent industry experience. 3-5 years’ direct Credit & Collections experience is preferred., • Communication Skills: Outstanding verbal and written communication skills. The ability to present information clearly and respond effectively to queries from suppliers, customers, management, and inter-departmental staff., • Interpersonal Skills: Professional, interactive approach with both internal and external partners. Must work constructively and proactively with a variety of colleagues., • Time Management: Ability to plan, prioritize, and execute multiple tasks and meet deadlines in a fast-paced environment., • Customer Service Orientation: A commitment to prompt service and assistance, ensuring customer satisfaction and retention., • Problem Solving: Skill in timely identification and resolution of issues, using sound judgment and creative thinking., • Adaptability: Flexibility to adjust to changing circumstances, new information, and evolving priorities., • Attention to Detail: Accuracy in recordkeeping, account reconciliation, and financial reporting.