Collections Specialist

Job Summary

The Credit Control and Collections Officer is responsible for managing the credit risk of the business by ensuring timely collection of outstanding accounts, assessing creditworthiness of customers, and maintaining accurate records of customer interactions. The role involves direct contact with clients to follow up on overdue payments and ensuring that credit policies are consistently followed.

Key Responsibilities

Credit Control

• Assess credit applications and perform credit risk evaluations for new and existing customers.
• Set and review credit limits based on company policy and financial analysis.
• Monitor customer account details for non-payments, delayed payments, and other irregularities.
• Ensure adherence to the company’s credit policy and procedures.

Collections

• Proactively contact customers via phone, email, and letter to chase overdue invoices.
• Negotiate payment plans and ensure timely follow-up on payment commitments.
• Escalate unresolved debts to management or legal action as required.
• Maintain detailed records of collection activities and customer communications.

Reporting and Analysis

• Prepare weekly and monthly aging reports, DSO (Days Sales Outstanding), and collections performance reports.
• Analyze delinquent accounts and recommend improvements to credit and collections processes.
• Collaborate with sales, customer service, and finance teams to resolve disputes affecting payment.

Compliance and Recordkeeping

• Ensure compliance with company policies, legal regulations, and data privacy standards.
• Maintain accurate and up-to-date customer records in the accounting system.

Qualifications and Skills

Education

• Bachelor’s degree in Accounting, Finance, Business Administration, or related field.

Experience

• 2–5 years of experience in credit control, accounts receivable, or collections.
• Experience with ERP systems (e.g., SAP, Oracle, QuickBooks) is a plus.

Skills

• Strong analytical and problem-solving skills.
• Excellent communication and negotiation skills.
• Proficiency in Microsoft Excel and accounting software.
• Attention to detail and high level of accuracy.
• Ability to work under pressure and meet tight deadlines.