The Credit and Collections Manager is responsible for executing revenue recovery strategies and initiatives that drive improvements in sales process approaches to clients regarding how to address bad debt and improve the overall company’s cash flow. The individual will be responsible for process management of credit approaches for sales including revenue risk mitigation, overall bad debt revenue collection and drive initiatives for credit and collections system and process needs. They will be the primary company source to drive the recovery engagements for Credit and Collections Operations. This also includes outbound customer contact, initiating and driving work with outside collections agencies, and driving the recovery of bad debt account revenue with our customers, sales and back-office support.
EDUCATION, SPECIALISED TECHNIQUES AND SKILLS
- Bachelor’s degree or higher in Finance, Accounting or a related area from a recognized tertiary institution.
- Experience in the use of SAGE 300 would be a definite advantage.
- Proficient in Microsoft Office Applications
DESIRED LEARNED DISCIPLINES AND EXPERIENCE:
- Recovery or Debt Sales experience with a strong understanding of Credit and Collections
- Demonstrated ability to effectively lead teams within a large multi-process organization
- Minimum of 5 years of direct recovery/collections or operational management experience at the senior level,
- Demonstrated success leading a team with a proven track record of delivering results across multiple territories
- Strong overall knowledge of company credit and risk management, collections, operations, Sales and Finance
- Project management experience
- Strong process and analytical skills
- Ability to influence senior decision-makers
- Ability to innovate and find creative solutions to meeting business goals
- Proven ability to work independently, yet as a key member and contributor to a broader team
- Demonstrated capability to drive cross-functional initiatives at an enterprise level
- Skilled communicator who influences and negotiates with great latitude on outcomes
Special Conditions Associated with the Job:
- Periodic travel may be required.
- Hybrid working arrangement.
- Provide leadership for the collection team.
- Lead, develop and oversee collection team members located in multiple YMG sites.
- Create/support a highly involved team environment & drive an “Employer of Choice” culture.
- Provide leadership, communication, coaching mentoring to direct reports and their teams.
- Motivate staff and associates to achieve business objectives.
- Develop and implement various customer engagement and incentive programs to promote early payment.
- Partner with Finance, Sales, Sales Ops, Client Services and QA to proactively identify, develop, implement, and monitor strategies for credit assessment and debt recovery. Work with these and other required/identified teams to tactically implement strategies across the business
- Partner with Sales, Client Services and Finance teams to deliver high service levels and processes for collecting and minimizing bad debt to ensure the Credit and Collections Unit has the most effective company-wide processes and tools to achieve the Unit’s goals.
- Drive performance standards with Credit and Collections in support of company-wide accepted KPIs.
- Drive bad debt collection by working with external debt collectors and ensure effective contracts and SLAs will meet company collections needs
- Ability to understand the ‘as is’ process environment, determine areas of opportunities for improvement and partner with functional groups within YMG to operationalize and achieve an improved Credit and Collections environment.
- Determine needed SLAs within the company, and external partners and establish tracking mechanisms that will be shared across executive management
- Develop and formalize all process flows and documentation.
- Review and analyze statistical data on a daily basis. Develop, implement, and communicate daily and monthly dashboards, delinquency, loss, external collectors, and collections unit reporting. Notify management of warning signals of increasing bad debt issues and drive corrective action.
- Develop/maintain strong rapport with senior client leaders and key business stakeholders
- Assume responsibility for compliance with credit and collections guidelines and regulations.
- Perform other duties and/or special projects as assigned
Note: This job description may be updated periodically to meet the needs of the business.
Application Deadline: Monday, November 20, 2023
YELLO MEDIA GROUP LTD RECRUITMENT POLICY NOTICE:
Under the Cayman Islands Data Protection Law, Yello Media Group (Cayman) Ltd need explicit consent from individuals to process, collect and store your data for the purpose of evaluating your suitability for potential employment with the company. Yello Media Group (Cayman) Ltd is committed to being compliant with all applicable Data Protection Laws to keep your information private and secure. As part of the job application process with Yello Media Group (Cayman) Ltd it is necessary that you read our Recruitment Policy: Yello Media Group Ltd Recruitment Policy Notice and confirm your consent to share your personal data to enable Yello Media Group (Cayman Ltd) to evaluate you for the purposes of potential employment.