Manager of Credit

Sumitomo Electric Group•Raleigh, NC

12h

About The Position

The Manager of Credit position at Sumitomo Electric Lightwave Corp. involves approving and assigning credit limits and risk classifications, coordinating monthly AR reviews, and managing customer and AR portfolio risk. The role also includes collections, dispute resolution, and recovery functions, such as approving legal and third-party collections, communicating terms of sale, and managing legal files and bankruptcies. Additionally, the manager will determine, implement, and manage department structure and objectives, work closely with accounting for payment application and recording, establish policies, prepare budgets, and generate various AR management reports. Key challenges include balancing customer credit risk with business opportunities to optimize profits while maintaining great customer relations, dealing with sensitive issues involving key accounts (NDA’s, financial statements, etc.), improving AR portfolio performance, interacting with other internal functions for mutual benefit, monitoring/benchmarking industry & peers to identify competitive opportunities/shortfalls, dealing with customers in high conflict situations, and balancing daily activities against strategic goals while efficiently managing day-to-day tasks and multiple priorities with little supervision. The role also requires the ability to recommend alternative selling terms/arrangements and protect confidential information for customers and internally, and supports auditors (internally and externally).

Requirements

College degree in Finance or Accounting
Experience working with different ERP Systems
Knowledge of creditor rights & bankruptcy law
Good knowledge of credit and collection automation tools
5-10 years commercial credit management experience with a large company
Strong PC skills - word processing/spreadsheets
Strong organizational skills
Strong communication skills (oral and written)
Self-motivator-ability to work with little supervision
Excellent negotiation skills
Strong ability to analyze financial statements
Ability to handle multiple tasks simultaneously
Good knowledge of UCC filings
Thorough understanding of marketing programs and sales plans
Proven leadership skills

Nice To Haves

MBA a plus
NACM/ICCTF Certifications (CCE) a plus
Microsoft D365 a plus

Responsibilities

Approve/assign credit limits
Approve/assign risk classifications
Coordinate monthly AR reviews and complete watch list reports
Credit review and analysis of new and existing accounts
Identify and closely monitor high risk customers
Manage credit bureau/information resources
Manage customer and AR portfolio risk in accordance with goals and objectives
Negotiate alternative selling terms/arrangements
Participate in credit industry group meetings
Approve legal and third-party collections as appropriate
Communicate and enforce terms of sale and take collection action as needed
Communicate with sales and customers in respect to credit holds
Maintain credit/collection records and files in a secure environment
Manage legal files and bankruptcies, including directing the efforts of attorneys
Oversee dispute resolution process
Determine, implement and manage department structure and objectives
Work closely with accounting to ensure all payments are applied and recorded
Coordinate all deduction resolutions
Establish written policies/procedures
Prepare and monitor credit department budget
Generate AR management reports including analysis
Generate weekly, monthly, quarterly, and yearly reports
Communicate credit strategy through written, verbal and formal presentation to management
Supports auditors (internally and externally)