Credit & Collections Analyst Job Description
Credit & Collections Analyst Duties & Responsibilities
To write an effective credit & collections analyst job description, begin by listing detailed duties, responsibilities and expectations. We have included credit & collections analyst job description templates that you can modify and use.
Sample responsibilities for this position include:
Credit & Collections Analyst Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Credit & Collections Analyst
List any licenses or certifications required by the position: CCE, CBA, NACM
Education for Credit & Collections Analyst
Typically a job would require a certain level of education.
Employers hiring for the credit & collections analyst job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Finance, Accounting, Business, Economics, Education, Business/Administration, Associates, Communication, Management, Administration
Skills for Credit & Collections Analyst
Desired skills for credit & collections analyst include:
Desired experience for credit & collections analyst includes:
Credit & Collections Analyst Examples
Credit & Collections Analyst Job Description
- Perform regular, routine financial assessments on existing customers
- Timely collection of Accounts Receivable balances and identifying a resolution to the principle cause of delinquency
- Making decisions to place customers on credit hold and release them based on resolution of the item
- Maintaining and coordinating efforts with internal personnel to resolve customer issues
- Evaluating customers using accounts receivable information for daily and monthly reports to management
- Researching customer disputes and propose credit memo issuance
- Analyze financial statements, bank statements, trade and bank references to determine potential account's credit worthiness
- Partner with third party partner to run credit checks
- Analyze and monitor the credit quality of the company's portfolio
- Follow and research industry trends in the AdTech space to determine how it may impact the company's portfolio
- Work with clients and internal departments, such as Client Finance and Sales to ensure proper workflow
- Improve DSO, bad debt and past due items
- Investigates and analyzes credit actions to assist with resolving outstanding items in a timely fashion
- Assists with outlining necessary actions and strategies for debt repayment
- Reviews and maintains account information of customers' financial status and collection efforts
- Researches and analyzes payment history/trends of all accounts
Credit & Collections Analyst Job Description
- Issues daily report on the status of delinquent accounts and tracks collection efforts
- Prepares monthly reports showing delinquency trends and analyzing collection results
- Maintain customer credit hold status for past due accounts
- Maintain daily customer contact with Customer
- Send invoices, statements, and dunning letters via email, fax and regular mail as needed
- Maintain and update Customer contact information, including electronic contact to ensure automation of correspondence from Oracle
- Assist with preparation of monthly collections and aging reports for communication to Sales and Upper-Management
- Distribute credit card, bank, and payment forms/instructions to customers
- Collect credit card information for processing and provide W-9 forms where required
- Manage and regularly review scheduled customer payment plans
- Follow up with Billing and Sales regarding billing discrepancies timely
- Collections of an account portfolio that consist of smaller agencies and advertisers the Direct Response agencies
- Develop and maintain key performance indicators for the department including DSO, average days delinquent, billing metrics, contract lead time
- Oversee weekly cash receipts forecast along with variance explanations
- Review daily deposits coming into the bank, and approve cash posting batches from the accounting department
- Prepare bad debt analysis, perform tests for reserve sufficiency, and recommend accounting entries to the allowance for doubtful accounts
Credit & Collections Analyst Job Description
- Ensure appropriate information, communication and collaboration with relevant stakeholders
- Conducts credit review and financial statement analysis to determine the financial status of major customers and suppliers
- Prepares and maintains calendar and requirements list
- Negotiates with customers to provide letters of credit, or guarantees when recommended
- Provides mentoring and training to other partners on reports, systems and financial process flow, providing guidance to collections teams on how to use credit information to achieve desired collection results
- Perform credit analysis of new and existing customers
- Ability to work with ambiguous information and create meaningful reporting to upper management
- Analyze/compare and evaluate customer data vs ClosetMaid data
- Manages accounts receivable, debit resolution, collection letters and collection of accounts
- Works closely with the Customer Service Department, Warehouse, and Logistics
- Provide analytic support by developing and delivering custom reports for both internal and external customers
- Contact customers for payment via telephone and email
- Prioritize daily collections needing made
- Review customer’s self-service vendor websites to obtain existing payment status
- Document business and customer specific procedures involved in the order-to-cash cycle, and recommend process improvements to expedite collections
- Help ensure contract and media program data integrity
Credit & Collections Analyst Job Description
- Must have strong telephone skills to work with customers on their accounts, invoices and past due balances
- Must have passion for research and problem solving
- Responsible for the evaluation and management of credit worthiness and approval limits for new and existing customers
- Collection of open accounts receivable within area of responsibility to meet or exceed corporate goals and specified metrics
- Communicate regularly with company associates and customers in order to maintain AR status within specified terms
- Identify disputed invoices and short payments promptly and communicate to respective site associate for resolution
- Evaluate, recommend and communicate credit holds to company associates and customers when necessary
- Maintain account portfolio and manage to company expectations and metrics
- Ensure compliance with company Credit Management Policy & Procedure audit requirements
- Provide support, direction & training on international letters of credit to site associates as needed
- Mitigate credit risks by ongoing analysis of customer base, keeping up with industry trends, and preparing/reviewing client specific payment history reports
- Bachelors Degree Required (Business, Finance, Commerce)
- Work independently, decisively and timely
- Utilize quality tools/initiatives
- Effective and timely communication/interaction with different functional areas (Customers, Sales, Accounting, Supply Chain, Taxes, Business Units, Customer Care)
- Skills in process specific parts of standard ERP systems (desirable in SAP)
Credit & Collections Analyst Job Description
- Participate in meetings and travel as necessary
- Manage small portfolio of accounts receivable for assigned vertical (minimize DSO and delinquency over 90 days)
- Analyze DNB reports for customer credit worthiness and request references, corporate guarantees, deposits, to reduce exposure
- Reporting key metrics for credit, collections, and leasing
- Monthly Credit & Collection Close
- Analyze financial statements of new and existing customers to determine their credit worthiness, appropriate credit limit, and payment terms for sales transactions
- Exposure to lease financing
- Conduct collection calls, emails and customer visits to collect accounts receivables
- Negotiate customer disputes to resolution and document root cause
- Make decisions on escalations and collectability of accounts
- Knowledge of customer and business requirements
- Excellent verbal and written communication skills and ability to communicate effectively at all levels
- Must be able to work with a wide variety of people with different personalities, backgrounds and experience
- Credit and Collections experience preferred
- Must have ability to work in a fast paced environment
- Forward thinker, ability to work alone and multitask