Job Title: Credit Manager Division: Precision Pulley & Idler (PPI)
FLSA: Exempt Grade: N/A
Job Status: Full Time Travel Required: 0-5%
Revision Date: October 3, 2024 Reports To: Treasurer
PURPOSE OF POSITION
Create, oversee, and maintain credit policies and guidelines of the company to ensure that goals are achieved and accurate business records are maintained along with managing accounts receivable and assisting with cash management.
ESSENTIAL DUTIES AND RESPONSIBILITIES
The following duties are normal for this position. These are not to be construed as exclusive or all inclusive. Other duties may be required and assigned.
More specifically, the employee owner will:
- Identify, develop, communicate, and maintain credit policies and procedures to manage risk, enhance collections, and ensure compliance with regulatory requirements.
- Monitor customer balances to ensure adherence to established credit limits and company credit policies.
- Organize and lead Credit training for Sales and Customer Service personnel as needed.
- Responsible for the completion, analysis, and approval of all new credit applications.
- Establish and maintain individual customer credit limit and supporting files.
- Create, communicate, maintain, enforce, and regularly review credit collection procedures.
- Review credit limits and issues with Outside Salesmen of affected customers.
- Resolve short payment issues and invoicing problems.
- Develop strategy for collecting from delinquent and financially distressed customers including involving the assistance of the Sales Department as necessary.
- Regularly review and update credit policies and procedures in response to changes in regulations, market conditions, and organizational goals.
- Drive continuous improvement initiatives within the credit management function by analyzing processes, identifying inefficiencies, and implementing solutions to optimize credit approval, cash application, collections, and risk management practices.
- Review accounts receivable daily and contact customers about outstanding invoices.
- Analyze aging of accounts and review with Treasurer as requested.
- Ensures timely completion of month-end close procedures and reporting.
- Completes monthly Accounts Receivable reconciliation, identifying, investigating, and resolving any variances.
- Oversee payment of sales commissions and reconcile commission-related balance sheet accounts.
- Oversee that cash receipts are done accurately and processed daily; assists in resolving any variances.
- Serve as a back up to the cash application process.
- Continually participate in additional training related to the job and ensure the training and development of all direct reports and their subordinates.
- Perform extra assignments in other areas and related task assignments in the work area.
- Demonstrate regular, consistent attendance.
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Proficient in Microsoft Office Suite, with advanced skills in Excel, including the ability to create and manipulate pivot tables, formulas, and macros.
- Proven leadership and team management skills, with the ability to lead, mentor, and develop a high-performing credit team, fostering a collaborative and results-driven work environment.
- Excellent communication and interpersonal skills to effectively manage internal and external relationships and drive initiatives across departments.
- Demonstrated commitment to continuous improvement, with experience in identifying and implementing process improvements.
- Ability to work cross-functionally to drive business initiatives.
- Ability to plan, execute, and manage initiatives to enhance credit policies, procedures, and systems, ensuring timely completion and alignment with organizational goals.
- Demonstration of good verbal and written communication skills with the ability to interact with all levels of the company.
- Ability to produce accurate, professional and error-free work in a timely manner.
- Maintain a high level of integrity and confidentiality.
EDUCATION – EXPERIENCE – COMPUTER SKILLS
- Bachelor’s degree (B.A.) in Accounting or Finance; or
- Four to seven years related experience and/or training; or
- Equivalent combination of education and experience.
TRAINING – CERTIFICATIONS – LICENSES
COMPETENCIES
To perform this position successfully, an individual should demonstrate the following work competencies:
- Safety and Security - Observes safety and security procedures; Uses equipment properly.
- Problem Solving - Identifies and resolves issues in a timely manner.
- Communication Skills – Speaks clearly, listens and receives clarification, respond to questions.
- Dependability - Follows instructions, responds to management direction, and takes responsibility.
- Quality Assurance - Demonstrates accuracy and thoroughness.
- Ethics/Professionalism - Treats people with respect; Works ethically and with integrity.
- Organizational Support - Follows policies and procedures.
- Judgment - Exhibits sound and accurate judgment.
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to sit. The employee is frequently required to use hands to finger, handle, or feel, and talk or hear. The employee is occasionally required to stand, walk, reach with hands and arms, stoop, kneel, crouch, or crawl, lift and or move up to 50 pounds, repetitively use right hand for simple/light grasping, repetitively use left hand for simple/light grasping, repetitively use right hand for firm/heavy grasping, repetitively use left hand for firm/heavy grasping, repetitively use right hand for fine dexterity, and repetitively use left hand for fine dexterity. Specific vision abilities include close, distance, color and peripheral vision, and the ability to adjust focus. Specific hearing abilities required by this job include the ability to hear customers and the ability to hear instructions from others.
ENVIRONMENTAL ADAPTABILITY
- The noise level in the work environment is usually QUIET.
- Steel-toed shoes, safety glasses, and ear plugs are required in production areas and where posted.
OTHER DUTIES
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
Precision, Inc. is an Equal Opportunity Employer. In compliance with the Americans with Disabilities Act, the employer will provide reasonable accommodations to qualified individuals with disabilities and encourage prospective and current employee owners to discuss potential accommodations with Precision, Inc.
