Credit Manager

Work Arrangement: 4 days on site, 1 day remote

Job Description

The Credit & Accounts Receivable Manager is responsible for overseeing the company’s credit, collections, accounts receivable, cash application, and related risk management functions. This position plays a critical role in protecting the company’s financial interests while supporting profitable sales growth and strong customer relationships.Credit Risk Management & Financial Analysis

• Review and analyze customer financial statements, credit applications, trade references, payment histories, and other relevant information to assess creditworthiness and establish appropriate credit limits.
• Monitor customer credit exposure and recommend credit limit adjustments based on financial performance, payment trends, industry conditions, and overall business risk.
• Develop, maintain, and enforce credit risk policies, procedures, and internal controls designed to minimize bad debt exposure while supporting profitable sales growth.
• Identify emerging credit risks and proactively develop strategies to mitigate potential losses.
• Partner with Sales and Executive Management to balance revenue opportunities with acceptable levels of credit risk.
• Serve as a key resource to management and sales teams regarding customer credit decisions and risk exposure.Accounts Receivable & Collections Management
• Lead and oversee collection activities for delinquent, past-due, and high-risk accounts to maximize cash recovery and minimize write-offs.
• Establish collection strategies and escalation procedures based on account risk, aging, customer history, and outstanding exposure.Oversee collection agency relationships and coordinate legal collection efforts when necessary.
• Negotiate payment arrangements, settlements, workout plans, and other resolutions that achieve favorable outcomes for the company while maintaining appropriate customer relationships.
• Monitor accounts receivable aging, DSO, collection effectiveness, and other key performance indicators.
• Develop proactive collection strategies to improve cash flow and reduce outstanding receivables.
• Identify trends and recurring issues contributing to past-due accounts and implement corrective actions.Insurance Claims & Risk Recovery
• Initiate, manage, and monitor customer credit insurance claims.
• Maintain effective relationships with insurance carriers, recovery agencies, collection agencies, and other external partners.
• Ensure claims are filed accurately and within required deadlines, with complete supporting documentation.
• Coordinate with insurance providers, collection agencies, and legal counsel to maximize claim recoveries and minimize financial losses.
• Track claim status, recovery amounts, outstanding balances, and related financial impact.
• Identify opportunities to improve the company’s recovery processes and reduce credit-related losses.Cash Flow Management & Financial Reporting
• Prepare and maintain cash flow forecasts and collection projections to support working capital planning and financial decision-making.
• Analyze accounts receivable trends, customer payment behavior, credit exposure, and portfolio performance to identify risks and opportunities.
• Develop and present recurring reports on credit exposure, collections performance, cash flow, bad debt reserves, aging, DSO, and other key credit and receivables metrics.
• Provide Executive Management with actionable insights and recommendations regarding customer credit risk, receivables performance, and cash flow.
• Monitor performance against established goals and develop action plans when results fall below expectations.
• Support financial forecasting, budgeting, and bad debt reserve analysis as needed.Lien Waiver & Compliance Administration
• Oversee lien waiver administration and compliance requirements related to customer accounts and construction-related projects.
• Ensure proper documentation, tracking, and execution of lien waivers to protect company interests and support timely collections.Monitor contractual, legal, and regulatory requirements affecting credit and collections activities.
• Establish appropriate controls and documentation standards to minimize the company's financial and legal exposure.Policy & Process Improvement
• Develop, document, implement, and continuously improve credit, collections, cash application, customer onboarding, and accounts receivable policies and procedures.
• Evaluate the Order-to-Cash process to identify inefficiencies, control gaps, and opportunities for automation.
• Lead process improvement and automation initiatives that increase efficiency, strengthen internal controls, improve reporting, and enhance the customer experience.
• Establish consistent processes and standards across applicable locations and departments.
• Support internal and external audit requests and ensure compliance with company policies, accounting practices, and internal controls.
• Maintain accurate and accessible documentation of policies, procedures, and controls.Leadership & Team ManagementLead, manage, and develop a high-performing team responsible for:
• Cash Application
• Daily Banking Reconciliations
• Credit Card Processing
• Customer Credit & Collections
• Client Relationship Support