Director, Credit & Collections

Finning•Edmonton, AB

55d

About The Position

Finning Canada is looking to hire a permanent, full‑time Director, Credit & Collections who will report to the Vice President, Finance & Supply Chain and manage the Credit, Collections, Cash Applications, and Commercial Finance functions for Finning Canada. This role is responsible for ensuring timely and effective collection of accounts receivable, monitoring overall credit risk to maximize sales and minimize bad debt, and acts as a critical business partner to the Canadian Executive, Senior Leadership, Sales, and Operational teams.

Requirements

Bachelor’s degree in Accounting or Business Administration required
CPA or CCP designation required
Ten or more years of credit/collections/risk management and accounting/reporting experiences
Five or more years of leading and managing people
Strong experience with financial analysis and financial modeling
Understands and adheres to International Financial Reporting Standards (IFRS), Customer Credit Agreement Act (CCAA), Personal Property Security Act (PPSA), Anti-Money Laundering
Proficient in MS Office applications and internal systems
Strong team leadership skills, capable of representing the business at a senior management level with robust stakeholder management.
Effective verbal communication skills, presenting messages clearly, concisely, and directly.
Influencing skills, ability to drive results without direct line responsibility and ensure the wider team are engaged and effective.
Strong Analytical / Problem solving attributes with the ability to adjust and resolve issues in a timely manner
Strong negotiation skills and ability to manage conflict and resolve disputes and issues
Ability to navigate inside and outside the organization independently
Strong interpersonal, customer service skills
Ability to lead and Motivate others
Exceptional Organizational, conflict management, and time management abilities
Strong work ethic and self-driven

Responsibilities

Lead, mentor and coach the Credit, Collections, Cash Applications and Commercial Finance teams in Finning Canada
Build, develop and manage diverse and high-performing teams
Responsible for managing the day-to-day operations of the company’s credit, collection, and commercial finance departments; 50-70 employees, 110,000 customer accounts, an accounts receivable balance of $500-600M and managing relevant information from 4 different ERP systems
Maintain governance and controls over the Company’s customer hierarchy
Full responsibility for the management of the Finning Canada Accounts Receivable risk profiles. Ensure credit exposure is appropriately managed, customers who are past due are appropriately escalated or referred to third party collections or legal. Ensure doubtful accounts are appropriately accounted for.
Leading the commercial finance team with the objective to maximize equipment revenue while providing financing solutions to customers
Provide strategic and operational leadership to the business with a focus on managing credit risk, driving collections velocity and improving AR aging, achieving alignment to key business strategies, decisions and financial KPI’s (e.g. DSO, FCF)
Create strong relationships with sales, operations and commercial teams across Finning Canada & Finning UK&I and work with them to improve the customer experience as it relates to the order to cash process
Planning, evaluating, implementing, and continuously improving all aspects of credit and collection processes and systems
Development and maintenance of departmental policies and procedures
Identify and implement process improvements; continuously standardize and improve business and financial processes with a focus on global alignment
Engage with finance and sales leadership as a proactive, trusted financial business partner and drive business and operational performance to improve financial outcomes
Establish and maintain positive customer relationships and managing the escalation and resolution of significant credit issues and /or concerns
Set objectives for the Credit, Collections, Cash Applications and Commercial Financing teams in order to improve our cash position by setting appropriate credit limits, improving collections and aging of accounts, dealing with disputes on a timely basis and providing financing solutions to customers
Providing timely and accurate analysis and insights to executives in relation to accounts receivable balances including periodic reporting, quarterly provision recommendations in accordance with IFRS as well as KPI target setting and measurement. Build/Create custom reports for internal customers as requested.
Performance of the Credit, Collections, Cash Applications and Commercial Finance teams
Conduct business within established monetary authority levels and follow all Policy and Procedures Guidelines
Development and maintenance of Global Credit policies and procedures
Responsible for overseeing and ensuring effective credit risk management
Driving timely collections of outstanding accounts receivables, timely submission of customer invoices to applicable portals and identification and reporting of doubtful accounts
Timely applications of customer payments
Adherence to all polices regarding release of equipment being sold and adherence to the proper end to end process for consignments
Maintenance and accuracy of customer master data including the creation and maintenance of the customer hierarchy