Credit & AR Manager

JH Larson Electrical Company•Plymouth, MN

1d•Onsite

About The Position

The Credit & AR Manager is responsible for overseeing credit policies, managing credit risk, and ensuring that credit decisions are made in line with the company’s financial goals and risk tolerance. This role also oversees the collection and management of accounts receivable owed to the company to ensure that the organization receives payment in a timely manner and reporting is accurate.

Requirements

Bachelor’s degree in accounting, finance, business administration, or a related field
5+ years of experience in credit management, accounts receivable, or a related financial role
Proven experience managing credit risk, evaluating creditworthiness, and establishing credit policies
Experience in managing collections, dispute resolution, and bad debt recovery
Experience with accounting software and financial reporting systems
Familiarity with legal proceedings related to collections and managing disputes, including small claims court
Financial Analysis: Ability to analyze financial statements, credit reports, and payment histories to assess credit risk
Strong ability to maintain positive customer relationships while ensuring adherence to credit policies and payment terms
Accounts Receivable Management: Knowledge of AR processes, aging reports, cash application, and reconciliations
Credit Risk Management: Understanding credit risk models, credit limits, and best practices in mitigating risk
Excellent communication skills, both written and verbal, for interacting with internal teams, customers, and legal entities
Negotiation skills to handle payment arrangements, settlements, and debt recovery discussions
Experience managing and leading teams (such as credit and collections teams or accounts receivable departments)
Ability to set goals and KPIs for the team and track performance to ensure collections and credit management goals are met
Valid US Driver’s license and/or reliable transportation
Clean driving record

Responsibilities

Ensure the timely collection of outstanding receivables.
Monitor aging reports to identify overdue accounts and take necessary actions.
Develop and implement strategies for reducing overdue balances.
Negotiate payment terms, settlements, and payment plans with customers.
Resolve disputes between customers and the company regarding payments or terms.
Lead and manage the credit team, assign tasks and responsibilities.
Provide training and guidance on credit policies, collection strategies, and best practice.
Analyze the creditworthiness of new and existing customers using financial data, credit scores, and other relevant information.
Assess credit risk and set appropriate credit limits for customers based on their financial strength and payment history.
Approve or decline and process credit applications based on thorough risk assessment and company policy.
Investigate job accounts and ship to.
Work closely with the Accounting Department to ensure the smooth flow of financial operations related to credit and collections.
Travel to and attend small claims court hearings to present cases.
Present all relevant evidence in a clear and organized manner.
Be prepared to answer questions from the judge and the defendant.
Manage any other credit related legal issues.
Work with Branch employees to ensure smooth coordination in collecting receivables and addressing any discrepancies. Including training, payment portals, credit card processing, etc.
Maintain proper documentation and records of all receivables, payment agreements, and customer communications.