Credit & Collection Analyst

INX International Ink Co.•Schaumburg, IL

3d•$88,000 - $92,000•Onsite

About The Position

This role offers a starting range of $88,000 to $92,000 annually. Actual compensation will be based on qualifications such as experience, education, certifications, and skills, as well as geographic considerations. The Credit & Collections Analyst will ensure timely collection of Accounts Receivable to improve cash flow and minimize bad debt; responsible for evaluating new and existing customers for credit-worthiness. Reviews and acts on new orders not passing credit check criteria. Expedites Administrative and managerial tasks involving Banking, reporting, organization of projects and work assignments, customer master file maintenance and AR cash application and adjustments. Utilizes analytical and AI-supported tools to improve decision making.

Requirements

Have a bachelor’s degree from 4-year college or university in a related field
Have 5 years of experience in a Credit and Collection environment requiring outbound calling, research, analysis, and knowledge of collection regulations, and/or equivalent combination of education and experience2
Possess some experience in developing reporting and processes incorporating AI technologies.
Demonstrated strong attention to detail and have a high degree of accuracy, good communication, interpersonal and analytical skills
Have proficiency with computer-based applications, including Microsoft Office Applications
Ability to lead the team when adopting new tools and processes.

Nice To Haves

S4Hana experience

Responsibilities

Collect accounts in a timely manner while maintaining and developing customer relationships and properly documenting your activities in SAP and applicable AI-enabled tools.
Utilize AI-supported insights (risk scoring, payment trend analysis, prioritization models) to focus collection efforts and improve recovery rates.
Collect professionally and with courtesy while accomplishing corporate collection metric goals utilizing data-driven prioritization and insights where available.
Negotiate payment plans for delinquent accounts and escalate to customer's management as necessary to secure payment.
Recommend outside collection placements when necessary
Confer with sales personnel and management regarding new and existing customers when non-routine handling is necessary to achieve results incorporating available reporting and predictive insights.
Reconcile invoicing and payment discrepancies and identify incorporating available reporting and predictive insights.
Analyze and spread financial data, compile reports and ratios and review each assigned account and make recommendations as to the size of the customer’s credit line utilizing available analytical and AI-supported tools.
Research D&B informational reporting as well as INX payment experience for credit decisions.
Evaluate results of investigations, prepare reports of findings, and approve credit limit within his/her authority or recommend credit limitations to management
Maintain credit files in accordance with policy and procedures
Minimize bad debt write-offs by recommending appropriate credit limits and controlling A/R within limits through proactive monitoring and use of reporting tools.
Monitor credit limits for active accounts.
Create and maintain the customer master and credit data
Obtain and process the completed credit application from customer.
As part of the Order to Cash process, create and maintain customer master and credit management files in SAP.
Follow company JSOX controls when updating or creating customer master data.
Assist in the audit process periodically.
Review orders queued for failed credit check and take appropriate action.
Address all orders promptly to avoid undo interruption of shipment
Contact customer to address any delinquencies.
Communicate with Customer Services and Sales for any orders on Credit hold.
Address credit limit needs for order failure due to exposure exceeding the established credit limit.
Meet daily release deadlines to ensure customer orders are processed in a timely manner while leveraging tools to improve efficiency and prioritization.
Assist in reconciliation and resolution of deduction items with the appropriate internal and external associates.
Contact the customer and collect on any invalid deductions
Ensure open deductions are being addressed by the appropriate personnel and procedure.
Lead and develop projects, develop reporting protocols and organize work assignments and policy and procedures using the available technology (SAP, AI, MS Office) as well as your professional experience.
Integrate AI in the development of reporting and policies and procedures including automation, data visualization, and insight generation.
Analyze and solve business problems to improve business results.
Organize work assignments and expedite reporting for internal and external customers.
Create processes and procedures (based on existing policy) to be used as training guide and to document internal processes incorporating system and AI-enabled efficiencies where applicable.
Be a primary backup to Credit Manager (when out of the office)
Support adoption of new tools and processes.
Other assignments and duties as determined by the Company. May include but not limited to duties associated with execution of UCC filings, and bank and related activities such as cash receipt posting processes and interaction with customers AP portals.