Credit/Collections Analyst

Cynosure Lutronic•Westford, MA

About The Position

The Credit/Collections Analyst reviews orders on credit hold and evaluates collectability within an assigned portfolio. The role works with Sales, Order Management, customers, and other internal departments to resolve account issues, release orders, and collect outstanding balances. It also evaluates customers’ financial status, recommends credit approvals for new accounts, and establishes credit limits and payment terms. The analyst monitors and communicates credit concerns to management, conducts weekly accounts receivable reviews, and determines when to place accounts with an external collection agency. The position is responsible for reconciling and recovering delinquent accounts receivable, resolving deductions and billing matters with the Tax Department, documenting collection activity, negotiating payment plans, and proposing write-offs of doubtful receivables. It supports internal and external audits, reviews account documentation for compliance with company processes and policies, and uses Experian credit reports to assess Capital Order collectability in accordance with ASC 606. The incumbent may also perform other function-related activities as reasonably required by business needs.

Requirements

Associate’s degree required.
Two to five years of relevant experience.
Collections experience.
Strong discretionary judgment.
Ability to communicate effectively with internal and external stakeholders.
Strong customer service skills.
Strong organizational and communication skills.
Detail-oriented, with strong analytical and problem-solving skills.
Hands-on working knowledge of Excel and Word.
Microsoft Office experience, including Word, Excel, and Outlook, and general computing skills.
Ability to multitask and work as a team player to improve processes with minimal supervision.
Strong interpersonal skills.

Nice To Haves

Bachelor’s degree preferred; the posting states that a bachelor’s degree is equivalent to three years of experience.
SAP experience is a plus.

Responsibilities

Review orders on credit hold and determine collectability within the assigned portfolio.
Work with Sales, Order Management, and customers to release orders and collect outstanding balances.
Make credit approval recommendations for new accounts and analyze customer financial status to evaluate risk and establish credit limits and payment terms.
Monitor and communicate credit concerns to management.
Work with internal departments, including sales administration and customer service, to resolve account issues.
Determine whether customer accounts should be placed with an external collection agency.
Ensure weekly accounts receivable reviews are accurate and current.
Reconcile and recover delinquent accounts receivable.
Work with the Tax Department to resolve open deductions and ensure accurate billing.
Document collection activity.
Communicate credit-hold status and the reasons for specific decisions to all levels of Sales Management.
Provide monthly or quarterly reviews of significant delinquent accounts to management.
Monitor credit holds and release pending orders as needed.
Negotiate payment plans and document them with a promissory note when possible.
Propose write-offs of doubtful accounts receivable.
Provide support during internal and external audits.
Use Experian credit reports to determine collectability of Capital Orders in accordance with ASC 606 revenue recognition guidelines.
Review and ensure accounting and documentation conform to processes supporting established quality standards.
Monitor and document compliance with company policies and procedures, including the Global Approval Authority Matrix and other mandatory policies.
Embody and live the company’s values.
Perform other function-related activities as reasonably required by business needs.