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Credit Analyst
2 months ago
The Sherwin-Williams Company is seeking a skilled Credit Analyst to join our team. As a Credit Analyst, you will play a critical role in maximizing profitable sales while minimizing bad debt losses.
Key Responsibilities:- Develop and maintain effective working relationships with sales teams and customers to enhance collection efforts.
- Reduce outside collection and bad debt expense through effective collection activities.
- Chase debts by phone and email, utilizing strong communication, diplomacy, and negotiation skills to create optimal cash inflow while ensuring continuity of business.
- Initiate contact with business units and customers, and follow up as needed to obtain commitments for payment or unfulfilled customer payments.
- Maintain open communication with customers and field personnel to promote future business opportunities.
- Develop and maintain effective working relationships with sales teams and customers to enhance collection activity.
- Monitor and control debt/aged debt overview, ensuring agreed terms are adhered to by customers.
- Provide management with accurate and timely reports on the status of collection activity.
- Maintain both physical and digital records to support collection activity, including collection notes, emails, customer responses, and follow-up activities.
- Document customer commitments for payment.
- Document and communicate customer disputed items or complaints to appropriate personnel for resolution.
- Order release: ensure conditions are met to confirm the release diligently, requiring good judgment and adherence to order release process flow.
- Query management: address customer service/sales and solve promptly to maintain customer satisfaction and identify root causes preventing reoccurrences.
- Month-end aged debt reporting, including monthly review calls with Finance Directors, Sales/Business Managers.
- Perform ad-hoc duties as required.
- Initiate contact with store and other stakeholders to obtain clarification on payment information to resolve issues and apply payments accurately.
- Timely and accurate cash application of payments.
- Identify and properly code deductions/overpayments by customers.
- Document customer commitments for payment.
- Keep records of all information.
- Advise credit personnel of corrections requested by customers and assist field personnel in resolving account variances by application of POS corrections and edit of electronic chargeback logs.
- Cash allocation: ensure cash is allocated daily and accurately to maintain up-to-date ledgers, requiring attention to detail for multiple currencies.
- Maintenance of the Sales ledger/Treasury/GL ledger to ensure customer master file is up-to-date and accurate with adjustments (discount/bank charges/commissions/refunds/bad debt write-offs) and payments/credit + debit notes, requiring accounting skills (including rebates).
- Perform ad-hoc duties as required.
- Establishment of credit terms and limits/account review/customer master setups for new customers or increased business on existing accounts, considering the risk involved and liaising closely with sales for export credit knowledge of export documentation and other payment methods.
- Assessment of credit risk/credit risk review: finding ways to accept and control all business, including high-risk opportunities, involving the use of credit check reports via a credit check agency, basic understanding of financial statements (balance sheet, P&L) within approval limits, requiring good numeracy skills.
- Ensure services delivered are compliant with SOX, Sherwin-Williams policies, procedures, and all local statutory and regulatory requirements.
- Work with Internal Audit and external auditors to support their activities.
- Processing of credit notes/debit notes and rebates once authorized on the respective portals.
- Month-end aged debt reporting preparation of the files.
- Perform ad-hoc duties as required.
The role of a credit analyst will focus primarily on cash collection, cash allocation, or credit and audit management, determined based on business needs and communicated to you. However, you will be required to perform secondary functions as and when required.
Position Requirements:- GCSE Math's/English - A-C level would be preferable.
- CICM, AAT studier, part-qualified accountant, or other relevant professional qualification.
- 2 years Credit Control or Accounting background.
- 2 years Customer Services background.
- Applying comprehensive credit principles and practices.
- Balancing and reconciling accounts.
- Working with other departments and groups.
- Excellent knowledge of Microsoft Office-based programs - Outlook, Word, Excel.
- Fluent in English.
- European language is advantageous.
- Experience in using Oracle in finance capacity.