Our client is looking for a highly skilled and experienced National Credit Manager to join their team in Cape Town. This position is crucial for managing and developing all credit functions and indirect business activities within the assigned region.
Responsibilities:
- Credit Evaluation and Approval:
- Evaluate the creditworthiness of potential customers by reviewing credit reports, financial statements, trade references, and other relevant information.
- Determine appropriate credit limits, terms, and payment plans based on risk assessment and company guidelines.
- Approve or decline credit applications and negotiate terms with customers to facilitate sales while minimizing credit exposure.
- Collections Management:
- Monitor customer accounts to identify overdue invoices, outstanding balances, and delinquent accounts.
- Implement and enforce collection strategies, including reminder notices, calls, and collection letters, to encourage timely payment and resolve payment disputes.
- Coordinate with collection agencies or legal counsel for escalated collection efforts, including legal actions or debt recovery, when necessary.
- Risk Assessment & Monitoring:
- Identify potential credit risks and exposure by analyzing customer payment histories, credit scores, and financial stability.
- Monitor changes in customers' credit profiles, financial conditions, and market dynamics to anticipate and mitigate credit risks proactively.
- Implement risk mitigation strategies, such as requiring collateral or personal guarantees, to safeguard against potential losses.
- Customer Relations & Communication:
- Build and maintain positive relationships with customers, sales teams, and other stakeholders to foster collaboration and resolve credit-related issues effectively.
- Communicate credit terms, payment expectations, and collection efforts clearly and professionally to ensure transparency and compliance.
- Reporting & Analysis:
- Generate regular reports to track key credit metrics, including aging receivables, credit limits, bad debts, and cash flow impacts.
- Analyze credit data and trends to identify patterns, insights, and opportunities for process improvements in credit management and collections.
- Present findings and recommendations to senior management to inform strategic decisions and optimize credit management strategies.
- Compliance and Regulatory Compliance:
- Ensure compliance with credit laws, regulations, and industry standards.
- Stay updated with changes in credit-related regulations and industry best practices to maintain compliance and minimize legal risks.
- Implement internal controls and audit procedures to monitor compliance and address any issues or discrepancies promptly.
- Managing a Team:
- Provide guidance and support to your team on credit policies, customer credit status, and collection procedures to facilitate informed decision-making and customer interactions.
- Ensure that credit controllers and supervisors are regularly following up with customers regarding payments.
- Hold regular meetings to stay updated with the status of accounts each credit controller/supervisor is managing.
Key Skills:
- Excellent analytical skills.
- Strong negotiation skills.
- Solid interpersonal skills.
- Attention to detail.
- Great written and verbal communication skills.
- Ability to work under pressure.
- Experience with Microsoft Excel, including pivot tables.
- Knowledge of credit scoring models and scorecards.
- Financial analysis and credit evaluation techniques.
- Previous experience in the auto finance industry preferred.
- Previous experience in managing a team.
- Knowledge of credit risk assessment, the Credit Act, governance, and insolvency and liquidation processes.
Qualifications:
- Matric.
- Legal or Finance tertiary qualification (LLB or BCom Law preferred).
- 7+ years’ experience in credit management.
