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Credit Review, Manager

Job Title: Credit Review, Manager
Contract Type: Permanent
Location: Selangor
Industry:
Salary: RM12,000-RM13,000
Contact Name: Maheswary Kandasamy
Contact Email: maheswary.kandasamy@ellwoodconsulting.com.my
Job Published: March 27, 2020 17:47

Job Description

About our client

Our client is one of established Shared Services.

 

About the role

This is a new additional headcount for the organization. The incumbent is responsible for the development, implementation, and administration of credit review function for all regions. Leading a team of assistant managers and analysts to perform assessment of credit facilities request, update credit profile & perform annual country credit review within time line. Ensure the Credit process & policy is adhered as per corporate standard.

 

Your responsibilities

  • Oversee the global accounts receivables as well as the global accounts payables, with the objective to better manage the working capital, provision for doubtful debts/write-offs and overall working capital initiatives.

  • Supporting the delivery of effective financial initiatives.

  • Support the development, coordination and the effective delivery of company or centre-wide project and/or initiatives.

  • Manage projects or initiatives within the departments which geared towards improving quality and efficiencies.

  • Managing Credit Desk to process, evaluate, recommend and approve credit application.

  • Ensure and implement proper credit risk assessment and credit risk control to minimize group credit exposure.

  • Managing of accounts receivable policies, processes and systems.

  • Responsible for tracking and reporting of the AR KPIs.

  • Ensure that revenue and AR accounting are in adherence to accounting standards.

  • Review and ensure timely AR reporting inclusive of revenue, DSO, DPO and Bad Debts Provision for senior management.

  • Provide analysis to set AR KPI as agreed with key stakeholders.

  • Involves analysing strategies with key stakeholders to achieve the KPI set for the year for Days Sales Outstanding (“DSO”) and Days Purchase Outstanding (“DPO”) to improve the working capital.

  • Leading, planning, support and ensure successful implementation of business & financial systems project.

Credit Review

  • Provides leadership to the assigned functions to achieve strategic business objectives.

  • Managing Credit Desk to process, evaluate, recommend and approve credit application.

  • Ensure and implement proper credit risk assessment and credit risk control to minimize group credit exposure.

  • Drives excellence in operational delivery to achieve the Service Level Agreement.

  • (SLA) and other operational targets. 

  • Performing annual credit reviews on customers for the Group.

  • Assessing customers credit applications, and providing value-added information, analysis and recommendations of credit limits for all customers.

  • Timely submission of Corp AR Reports and Credit Watch List Reports periodically.

  • Involved in internal and external audits to ensure all audit findings/points are resolved.

  • Facilitating issues resolution or escalations with regional/corp offices, and drives closure of key issues.

  • Continuous improvement of operational performance by reengineering existing processes to drive improved productivity and eliminating unnecessary hours.

  • Providing feedback of control/policy compliance issues or advice of best practices for credit review.

  • Perform Control Assessment Test & ensure compliance as per Group Policy & Procedures.

  • Liaising with auditors for interim, pre-final and year-end audits for credit review function.

Working Capital

  • Provide leadership, manage and to ensure that all activities performed by the team relating to Accounts Receivables are completed accurately and timely.

  • Monitor the DSO, DPO and Key Performance Indicators (“KPIs”) for each region. This includes discussion with relevant trade managers, commercial and operations management and Finance management on reporting variables to facilitate their analysis.

  • Provide advice and support to management to perform analytical evaluation to business or financial opportunities, consistent with corporate objectives i.e. on improvement of working capital management.

  • Develop policies and procedures pertaining to revenue and receivables processes, including providing policy interpretations and support to the regional and frontline offices. This will include discussions with the relevant trade managers and RFOs on the policies.

  • Review the AR information provided to the Group for both internal and external financial reporting on monthly, quarterly and annual basis. This includes detailed breakdowns, disclosure notes and accounting policies for the Group for statutory reporting requirements.

  • Review and ensure that military billings to the US government are performed in a timely and accurate manner. Ensure that the military billing process comply with International Accounting Standards. Provisions for bad debts, if required, are adequately provided.

  • Review the monthly reconciliation of receivables balances from Sub-system (Revenue and Receivables System) to the General Ledger, ensuring completeness, accuracy, and timeliness.

  • Keep abreast with the new Accounting Standards in Singapore, International Accounting Standards and FASB of USGAAP and provide technical support to the local finance teams for complex accounting matters relating to AR for the Group. This includes researching the impact of new or existing accounting standards to AR, in respect of accounting treatments, disclosure requirements in annual report, and related areas.

  • Review and ensure that the requirements of provisions for bad debts for the Group are determined.

  • Provide close guidance to other financial service centres to ensure that all activities related to credit management and collections are performed correctly and in adherence to the Revenue and Receivables policies & procedures of the Group.

  • Supervise and be responsible for team management and development of the staff (e.g. identify staff training needs, grooming potential talents, etc.)

  • Any other tasks to be assigned from time to time.

Business Projects / Finance’s strategic initiatives

  • To support the effective delivery of business projects / Finance’s initiatives for the company/centre and continuous improvement projects within the department.

  • Escalate issues to the key project manager in a timely manner and ensure timely closure.

  • Support any other projects and tasks to be assigned from time to time.

Stakeholder

This position is required to keep a close contact with:

  • Commercial Heads

  • Chief Finance Officer

  • Corporate/Regional/ Country Financial Controllers

  • Global Business Services centres

  • Regional/ Country AR Collection and billing teams

  • FSS team

  • Sales Managers

  • Group Management Accounting & Reporting

  • Internal and External Auditors

  • Tax Consultants

  • Group Tax Department

The ultimate objective is to ensure the duties and responsibilities mentioned above are duly carried out.

 

You will have 

  • A degree in Finance/ Accounting/ Commerce or equivalent. ACCA, CPA Australia or other accounting professional qualifications will be an added advantage.

  • Strategic and financial planning skills and orientation to formulate the strategic financial direction. Reputation for taking a strategic approach to finance and financial reporting.

  • Effective leader who can drive financial performance and maximise the productivity of the staff and system.

  • Strong grasp and knowledge of International Accounting Standards. Keep abreast of the new development of Accounting Standard in Singapore.

  • Demonstrate initiative to do more than is expected or required in the position, with the desire and capability to progress with the organisation.

  • The ability to work in diverse cultures with a demonstrated awareness of differences in international business environments.

  • Minimum of 8 years financial management experience with increasing responsibilities, with at least 3-4 years in a leadership role.

  • Manage and develop a team of professional by creating a professional, proactive and performance-driven culture, motivating people by communication, involvement and ownership. Identify, recruit and retain key finance professional talent to support the performance of the finance department.

  • People management and development skills. Able to develop staff to their fullest potential and retain staff for long term advancement within the organisation.