Credit & Collections Analyst (Finance)
Summary: Responsible for cash application, invoicing, handling collections and managing credit limits, to maximize sales and minimize DSO and bad debt write offs by performing the following duties.
Duties and Responsibilities include the following. Other duties may be assigned.
- Applies lockbox, ACH and CC payments from customers for several brands.
- Invoices customers daily including maintaining and updating customer portals
- Responsible for customer account maintenance including new customer setup and ship to tax jurisdictions
- Responsible for determining and assigning appropriate credit limits for new customers using D&B, trade and bank references, and sales rep input.
- Reviews credit hold portal continuously and releases orders appropriately.
- Establishes effective relationships with customers to improve collection efforts.
Establishes effective relationships with employees, especially inside and outside sales reps. Determines appropriate time to involve sales in collections.
- Determines effective collection call process for past due accounts to obtain DSO of 45 days and to minimize past due amounts.
- Responsible for partnering with effective collection agencies including D&B.
- Provides a weekly past due aging report to management and sales.
- Obtains signed credit applications, W9's and tax exemption reports.
- Approves or denies credits for new customers within 2-3 days and notifies sales of decision.
- Manages credit limits for existing customers continuously.
- Provides credit references to other companies.
- Researches short payments, deductions, and discrepancies.
- Updates collection call notes daily.
- Ensures customer files are current and up to date
- Performs other related duties as assigned.
Qualifications:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Language Ability:
Ability to read and comprehend simple instructions, short correspondence, and memos. Ability to write simple correspondence. Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization.
Math Ability:
Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.
Reasoning Ability:
Ability to apply common sense understanding to carry out detailed but uninvolved written or oral instructions. Ability to deal with problems involving a few concrete variables in standardized situations.
Computer Skills:
To perform this job successfully, an individual should have knowledge of Microsoft Office Suite.
Education/Experience:
High school diploma or general education degree (GED); and two to four years related experience and/or training; or equivalent combination of education and experience. Accounting degree a plus.
Knowledge, Skills, and Other Abilities:
- Time management skills
- Oral and written communication skills
- Attention to detail
- Team Player
- Professionalism
CIMTEC Automation operates as a vital subsidiary within Flow Control Group (FCG), a prominent holdings company that is a leading solutions provider focused on technically oriented products and services for flow control, fluid handling and process, industrial automation, and life sciences with locations throughout North America. As a critical intermediary between over 3,000 suppliers and 15,000 customers, over 90 brand companies, and close to 1,700 employees, FCG's distribution and technical expertise serve an essential function in the movement of mission-critical components to a diverse array of end markets and applications.
Why Build a Career with Us?
Everyone's an Owner of the Company: Because every team member contributes to Flow Control Group's success, everyone has the benefits of ownership! Flow Control Group has a broad-based employee ownership program extended to every employee within our portfolio companies.
Competitive Benefits: Enjoy an attractive benefits package that includes Medical, Dental and Vision insurance (among other plans), competitive 401(k) matching program, career growth opportunities, employee referral program, paid time off and holidays, as well as parental leave.
Training: FCG University learning and training platform available to all employees offering over 80k courses.
Career Growth Opportunities : At Flow Control Group, we are committed to your professional development. With a vast network of over 100 brands across North America, we provide unparalleled opportunities for growth and advancement. Whether you're just starting your career or looking to take it to the next level, we offer custom training programs, mentorship, and a supportive environment to help you achieve your goals. Join us and be part of a dynamic team where your contributions make a real impact.
Equal Opportunity Employer: Flow Control Group is an Equal Opportunity Employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or any other legally protected characteristics.
