Credit & Collections Manager

Jesco Inc•Piscataway Township, NJ

2h•Onsite

About The Position

JESCO is a premier dealer of heavy construction equipment and technology in the Northeast and Mid-Atlantic regions, representing brands like John Deere, Wirtgen, Kleeman, Vögele, Hamm, Ditch Witch, Magni, and Topcon. The company, family-owned and operated for over 50 years, is seeking an exceptional Credit and Collections Manager. This role involves overseeing and optimizing credit and collections processes, managing a team of credit analysts and collections specialists, and developing strategies to ensure timely payments, minimize credit risk, and enhance cash flow. The manager will report directly to the CFO and collaborate with cross-functional teams to maintain strong customer relationships and drive financial success.

Requirements

Bachelor’s degree or equivalent in Accounting or Finance
Minimum 5 years of finance or related credit and collection experience
Proficient in Advanced Excel
Detail oriented, motivated self-starter with strong organizational skills, analytical and problem-solving skills.
Excellent communication and people skills with the ability to develop and maintain business partner relationships at all levels within the organization.
Strong business and financial acumen with understanding that problem-solving goes beyond the numbers. Ability to think through multiple scenarios.
Ability to prioritize and independently manage multiple concurrent tasks in a dynamic and fast paced setting.
High level of energy and professionalism and strong attention to detail
Versatility, flexibility, and a willingness to work within constantly changing priorities with enthusiasm.
Full-time position in office five days per week

Responsibilities

Credit Evaluation: Assessing the creditworthiness of potential customers before extending credit terms to them. This involves reviewing financial statements, credit reports, and payment histories.
Setting Credit Limits: Determining appropriate credit limits for clients based on their financial stability and credit history. This involves considering the potential risk to the company.
Credit Policy Development: Developing and maintaining credit policies and procedures for the company. These policies outline the terms and conditions under which credit is extended and how collections are managed.
Power Plan John Deere Credit Program: Collaborating with John Deere and JESCO departments to ensure maximum participation of new and conversion of existing customers.
Billing and Invoicing: Ensuring accurate and timely billing and invoicing for completed projects. This includes verifying that invoices are complete and compliant with contract terms.
Dispute Resolution: Handling disputes and discrepancies related to billing and payments. This may involve liaising with project managers, clients, and suppliers to resolve issues.
Cash Flow Management: Monitoring cash flow and working capital to ensure the company has the necessary funds to meet its financial obligations and continue operations.
Credit Reporting: Reporting credit information to credit bureaus as necessary and in compliance with legal requirements.
Risk Assessment: Continuously assessing and mitigating credit risks to minimize bad debt losses.
Documentation and Record-keeping: Maintaining accurate records of all credit and collection activities, including correspondence and payment history.
Legal Compliance: Ensuring that all credit and collection activities adhere to relevant laws and regulations, such as the Fair Debt Collection Practices Act (FDCPA).
Communication: Collaborating with other departments, such as sales and finance, to ensure a cohesive approach to credit and collections. Participate in the company's Sales, Parts and Service meetings.
Reporting: Generating reports and providing regular updates to senior management on the status of accounts receivable and collections efforts.
Credit Analysis: Periodically reviewing and reevaluating the creditworthiness of existing clients to adjust credit terms accordingly.
Training: Manage the training of all Sales, Department Manager and Non-Management personnel on credit policies and procedures.
Customer Relations: Manage customer relations and ensure their experience working with JESCO is positive.
Audit: Audit rental purchases to make sure all documents are accurate and within the company's credit policy