Choa Chu Kang - Credit Manager

Location: Singapore

Key Objectives:

Our Credit Manager is a key team leader in our Finance Shared Services organization who protects the company’s financial health by ensuring optimal cash flow, managing credit risks effectively while maintaining positive customer relationships.

Our Credit Manager is hands-on, solutions focused, with proven ability to effectively engage debtors, refine policies and execute best practices to continuously improve Debtor Days, while balancing revenue growth in a dynamic environment. He/She oversees our company’s credit control and collection processes, leading the AR Team to ensure timely collections and effective credit risk management while supporting Sales Teams.

Our Finance Shared Services organization is committed to continuous improvement – implementing best practices from the Group, the industry and the profession; continuing the digital transformation journey to better leverage on technology to drive data intelligence, improve analytics and streamline processes.

Main Duties & Responsibilities:

1. Credit Control & Collections Management

• Drive the effective and timely collection of debtors’ balances; manage credit risks whilst balancing business needs in a dynamic environment.
• Proactive follow up on overdue accounts, including direct engagements, meetings and negotiations with debtors.
• Execute the appropriate credit and collection strategies, including decisions to place accounts on stop supply when credit risks become excessive; timely escalation via legal proceedings and other debt recovery strategies when appropriate.
• Review and approve credit applications, evaluate the creditworthiness of new and existing customers using financial analysis and credit scoring.
• Regularly review credit limits, payment terms and risk exposure based on ongoing risk assessment in alignment with the industry’s fast-paced nature.
• Manage credit insurance and other risk mitigation policies.

1. Accounts Receivable Management

• Responsible for the accuracy and effectiveness of the AR function, including active monitoring of AR balances, payment allocation and account reconciliations, to facilitate timely collections and reduce delinquency rates.
• Prepare regular reports for management on AR ageing, credit risk, actions on overdue accounts, collection performance, including analysis of customer payment behaviour and doubtful debt provision.
• Drive continuous improvements in the processes, internal controls, reporting and analysis relating to Credit Control and AR, including ECL provision per IFRS 9 requirements.
• Collaborate with Sales and Customer Service Teams to resolve disputes and payment issues.
• Continuously improve cross-functional processes for business efficiency, including active engagement in various digital transformation projects.
• Risk and Compliance
• Establish, review, fine-tune and enforce credit policies, procedures and practices to mitigate financial risks, to achieve business objectives.
• Ensure compliance with operating policies, legal and regulatory requirements.
• Liaise with our internal and external auditors, ensure deliverables within tight deadlines.
• Team Leadership
• Lead and manage the AR Team to provide excellent service to internal and external customers.
• Lead by example, train the AR Team on best practices in credit and collections. Mentor Team members to drive continuous improvements in skills, knowledge and professionalism, and foster a positive work culture.
• Excellent communicator, interacting effectively with various stakeholders to develop balanced relationships; and impart these skills to Team members.

Requirements:

• Degree in Finance/Accountancy/Business with at least 7 years' experience and progression in managing credit and accounts receivable, in a fast-paced, high transaction volume environment.
• Excellent analytical and problem-solving skills. Proven track record in credit management and demonstrated success in improving Debtor Days and related KPIs.
• Excellent communication and negotiation skills. Skilful in handling difficult debtors and executing effective recovery techniques.
• Highly motivated, assertive, pragmatic, organized and meticulous. Ability to work under pressure and make sound decisions regarding credit and collections. Able to multi-task and meet tight schedules / deadlines.
• Good understanding of legal terms, contract law, legal proceedings, debt recovery strategies and credit insurance; able to explain financial policies to internal and external customers.
• Hands-on team leader, leading by example with good organizational skills and guiding Team members on improving collection process.
• Advanced user of Microsoft Excel; experienced with Navision / Dynamics Business Central ERP system and CRM solutions.