Credit and Collections Manager

Job Title

Job Description

The Credit and Collections Manager is responsible for leading a team of credit and collections specialists interacting with senior management driving operational performance conducting root cause analysis optimizing accounts receivable designing collection strategies providing performance updates analyzing financial metrics and guiding team development and operational processes. The role drives operational performance by adhering to design principles implementing Continuous Improvement and ensuring timely execution of improvement projects. The role manages risk at local and corporate levels ensuring transparency and updating credit risk policies. The role drives root cause analysis and reviews to eliminate manual activities and late payments.

Your role:

• Leads a team of credit and collections specialists by providing strategic direction overseeing daily operations fostering team development to achieve optimal financial outcomes and maintain strong customer relationships.
• Interacts with senior management or executives on matters across various functional areas and customers influences or gains acceptance in sensitive situations and maintains strong positive relationships and professional rapport.
• Drives operational performance by adhering to key design principles implements Continuous Improvement and ensures that improvement projects are executed on time within budget and to quality standards enhancing efficiency and effectiveness.
• Manages risk at both local and corporate levels to ensure transparency of the risk portfolio highlights increasing credit exposures beyond risk appetite and updates credit risk policies ensuring effective credit risk management.
• Drives root cause analysis and conducts regular reviews to pinpoint processes leading to manual activities or late payments and identifies solutions that eliminate these root causes.
• Manages the accounts receivable portfolio by driving transparency and standardization in the work performed ensuring consistent processes and clear reporting to optimize financial performance.
• Designs and implements effective strategies to collect overdue payments and reduce bad debt by optimizing collection processes enhancing customer communication and coordinating with internal teams.
• Provides regular updates and detailed reports to senior management on credit and collections performance highlighting key metrics trends and issues to inform decision-making and ensure alignment with organizational financial goals.
• Analyzes financial reports and metrics to evaluate the effectiveness of credit and collections strategies identifying trends areas for improvement and opportunities to optimize cash flow reduce risk and enhance overall financial performance.
• Guides and mentors the team actively contributing to employee selection performance management compensation management career development and overseeing operational processes.

Education:

• Bachelors Degree in Finance Accounting Business Administration Economics Data Analysis or equivalent.

Experience:

• Minimum 2 years of experience with Bachelors OR Minimum 1-2 years of experience with Masters in areas such as Credit Risk Management Financial Analysis Accounts Receivable Management Contract Management Collections or equivalent.

Preferred Skills:

• Continuous Improvement
• Due Diligence
• People Management
• KPI Monitoring and Reporting
• Credit Risks
• Management Reporting
• Financial Acumen
• Strategic Planning
• Process Optimization
• Risk Mitigation Strategies
• Risk Management
• Operations Management
• Performance Management (PM)
• Customer Relationship Management (CRM)

How we work together
We believe that we are better together than apart. For our office-based teams this means working in-person at least 3 days per week.
Onsite roles require full-time presence in the companys facilities.
Field roles are most effectively done outside of the companys main facilities generally at the customers or suppliers locations.
Indicate if this role is an office/field/onsite role.
About Philips
We are a health technology company. We built our entire company around the belief that every human matters and we wont stop until everybody everywhere has access to the quality healthcare that we all deserve. Do the work of your life to help the lives of others.
Learn more about our business.
Discover our rich and exciting history.
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If youre interested in this role and have many but not all of the experiences needed we encourage you to apply. You may still be the right candidate for this or other opportunities at Philips. Learn more about our culture of impact with care here.