Job Purpose:

The Finance - Collection Director is responsible for overseeing the company's receivables process, ensuring timely and efficient collection of outstanding invoices, improving cash flow, reducing delinquency, and maintaining positive customer relations. The role requires a combination of leadership, strategic planning, and deep understanding of credit and collection processes.

Key Responsibilities:

1. Strategic Leadership:

• Develop and implement collection strategies and processes to improve cash flow and reduce delinquent accounts.
• Set clear goals and key performance indicators (KPIs) for the collection department.
• Align collection policies with the company’s overall financial goals and risk management strategies.

1. Team Management:

• Lead, mentor, and supervise the collections team, providing training and guidance as necessary.
• Monitor team performance and ensure consistent achievement of collection goals.
• Foster a collaborative and results-driven culture within the team.

1. Accounts Receivable Management:

• Oversee and manage the company’s receivables portfolio to ensure timely collection of invoices.
• Regularly review aging reports, customer credit limits, and delinquency statuses.
• Ensure efficient collection activities are carried out, including follow-ups, escalations, and dispute resolutions.

1. Customer Relations:

• Work closely with clients and internal teams to resolve payment delays and disputes.
• Ensure that all communications regarding collections are professional and uphold customer relationships.
• Negotiate payment plans and settlements with customers when necessary.

1. Credit Risk Management:

• Assess and recommend customer credit limits and terms.
• Collaborate with the credit department to review customer financials and assess risk.
• Identify potential bad debts and propose appropriate actions to minimize risk.

1. Reporting & Analysis:

• Prepare regular reports on the status of collections, bad debts, DSO (Days Sales Outstanding), and other relevant metrics.
• Analyze collection trends and performance, making data-driven recommendations for improvement.
• Work closely with the finance department to ensure accurate forecasting and reporting of cash flow.

1. Policy & Compliance:

• Ensure compliance with relevant laws, regulations, and internal policies related to collections.
• Continuously review and improve the company’s collection policies and procedures.
• Stay updated on industry trends and best practices related to credit and collections.

Qualifications:

• Education: Bachelor’s degree in finance, accounting, business administration, or a related field. MBA or advanced degree is a plus.
• Experience: Experience in credit and collections, with at least 5 years in a leadership role.
• Skills:
• Strong leadership and team management skills.
• Excellent analytical and problem-solving abilities.
• Solid understanding of credit management, collections, and cash flow processes.
• Strong communication and negotiation skills.
• Proficiency in financial software and ERP systems (e.g., SAP, Oracle, etc.).
• Ability to work under pressure and meet tight deadlines.