Credit Controller

Debt Collection experience, Knowledge of accounting principles and financial regulations

We are seeking a detail-oriented and proactive Credit Controller to join our finance team. The successful candidate will play a crucial role in managing the company’s credit policies, ensuring timely collection of outstanding debts, and maintaining healthy cash flow. The Credit Controller will work closely with both internal teams and external customers to ensure that payments are collected efficiently and in line with company credit policies.

The ideal candidate will have strong communication skills, excellent organizational abilities, and experience in managing credit accounts and collections.

Key Responsibilities:

1. Credit Management:

   • Review and assess new credit applications, including conducting credit checks on potential clients and establishing appropriate credit limits.
   • Monitor the creditworthiness of existing customers, adjusting credit limits as necessary based on payment history and financial condition.
   • Establish and enforce credit control policies and procedures in alignment with the company’s objectives and risk management framework.

2. Debt Collection and Follow-Up:

   • Proactively manage the collection of overdue invoices, ensuring that payment deadlines are met.
   • Contact customers regarding overdue accounts, negotiating payment terms, and setting up repayment plans if necessary.
   • Monitor and chase overdue invoices via phone calls, emails, and letters to ensure prompt payment.
   • Handle disputes or payment issues in a professional and timely manner, working with customers to resolve outstanding issues.

3. Accounts Reconciliation and Reporting:

   • Maintain accurate records of outstanding debts and payments, ensuring that all transactions are recorded in the accounting system.
   • Reconcile customer accounts to ensure all payments are correctly applied and balances are up-to-date.
   • Prepare regular aging reports and present them to senior management, highlighting overdue accounts and potential risks.
   • Assist in month-end and year-end closing by providing accurate information on accounts receivable and bad debts.

4. Cash Flow Management:

   • Ensure that the company maintains optimal cash flow by effectively managing the accounts receivable and collections process.
   • Work closely with the finance team to ensure that all collections are reflected in financial reporting and help manage cash flow forecasts.

5. Customer Relationships and Support:

   • Build and maintain strong working relationships with customers, offering professional and courteous communication to foster positive interactions.
   • Work closely with the sales and customer service teams to address any customer concerns related to payments or account disputes.
   • Offer advice to customers on credit terms, billing processes, and payment options.

6. Legal Action and Recovery:

   • When necessary, coordinate with legal teams or external agencies for debt recovery in cases of persistent non-payment.
   • Follow company procedures for escalating overdue debts to external debt collection agencies or legal authorities, ensuring all steps are taken in compliance with company policy and local regulations.

7. Credit Risk Management:

   • Identify and assess potential credit risks and proactively take actions to mitigate them.
   • Ensure all decisions made regarding credit limits and payment terms are in line with the company’s risk tolerance.

8. Process Improvement:

   • Continuously evaluate and recommend improvements to the credit control process, ensuring efficiency, accuracy, and compliance with company policies.
   • Participate in the development and implementation of new systems and tools to streamline credit management.