Credit & Collection Analyst

Job Title: Credit & Collection Analyst

Location: Ras Al Khaimah, UA

PRIMARY DUTIES

This individual will be involved in:

• Handling rigorous and effective collection process to ensure that outstanding receivables are recovered in a timely manner as per credit terms. This includes sending reminders for payments, making follow-up calls with the customers, commercial team members and initiating direct customer visits.
• Close coordination with commercial team in timely reporting of outstanding receivables aging and highlighting significant collection issues.
• Close collaboration with commercial team and other stakeholders in streamlining the credit, billing and collection process.
• Closely monitor payment pattern for customers and release sale orders in SAP within prescribed limits of D.O.A.
• Ensure accuracy of customer accounts by performing regular reconciliations of accounts receivable balances and formal closure of reconciliation activities by sending/obtaining a balance confirmation letter.
• Directly liaising with customers in timely resolving issues and complaints concerning disputed invoices, billings and negotiating payment plans.
• Directly liaising with credit risk insurance provider in the application of credit limits, submission of quarterly turnover and raising claims against customer payment default.
• Provides strong support to Finance Manager by preparing reports pertaining to status of unpaid accounts, repayment progress, collection performance and cash collection projections.
• Ensure timely preparation and submission of LC documents to the bank for customers with LC payment terms.
• Issuance of credit notes related to rebates, posting of bad debts write-off, and ECL provision entries after approval of Finance Manager.
• Prepares computation for sales agent commission subject for review/approval of Finance Manager and confirmation of Commercial Sales Manager.

ADDITIONAL DUTIES

• Support function to the Finance Manager on monthly closing activities, including preparation of accruals for sales agent commissions, customs duty and providing accurate inputs on customer rebate accrual.
• Support function to the Finance Manager during audit of financial statements, SOX controls and Internal audits.
• Provides treasury support function to the Finance Manager in the uploading of payments in bank portal, facilitating bank correspondences and other ad-hoc banking activities.
• Provides controlling support function to the Finance Manager in ensuring the integrity and accuracy of B/S and P/L accounts by performing regular periodic review and analysis.
• Assist the Finance Manager in cash flow forecasting, management reporting and other ad-hoc reportorial requirements.

EMPLOYEES SUPERVISED

This is an individual contributor role and does not involve team management.

BUDGETARY/FINANCIAL ACCOUNTABILITY

No budgetary/financial accountability.

Minimum Requirements

• Bachelor’s degree in finance or a relevant field.
• A minimum of 3 years of experience in a similar role.
• Excellent communication skills - Oral and written communication.
• Experience of SAP FICO Module would be advantageous.
• Analytical mind – ability to understand the payment behavior of customers.
• Profound knowledge and experience of collection techniques, credit and billing procedures.
• Excellent computer skills (Formula, Excel, PowerPoint, Word).
• Team player, positive/can do attitude with enthusiasm and passion for the role.
• Must be 100% trustworthy and able to maintain strict confidentiality.
• UAE driving license is preferred.