Senior Officer- Credit Control (225-709)

The position of Senior Officer - Credit Control is crucial in maintaining the financial health and function of an organization. The role involves significant interaction with clients and internal teams to ensure timely payments and minimize credit risk. A Senior Officer in Credit Control is not simply tasked with chasing invoices but is integral in devising strategies for credit management, assessing credit applications, negotiating payment plans, and enhancing overall cash flow. The individual will also analyze credit reports, predict financial trends, and play a supporting role in financial audits. An effective Senior Officer in this capacity must be analytical, assertive, and possess excellent communication skills to manage and reduce the company's exposure to bad debt.

Responsibilities

• Oversee the company's credit control policies to ensure appropriate processes are in place.
• Review and evaluate new customer credit applications for possible approval or amendments.
• Lead monthly credit meetings to review outstanding debts and set action plans.
• Coordinate with clients to negotiate payment terms and agreements effectively.
• Regularly update the credit control system with the latest payment statuses.
• Analyze financial data and create reports for management and audit purposes.
• Monitor accounts and ensure compliance with company credit policies and procedures.
• Implement debt recovery procedures to minimize financial loss to the company.
• Handle disputed accounts and negotiate to bring about a satisfactory resolution.
• Develop forecasting models to predict cash flow and mitigate potential risks.
• Foster relationships with key internal departments to improve debt collection techniques.
• Train and mentor junior team members to enhance their understanding of credit control.

Requirements

• Bachelor's degree in finance, accounting, business administration, or related field.
• Minimum of 5 years' experience in credit control or a related financial role.
• Strong analytical skills with the ability to interpret complex financial data.
• Proven experience in leading credit meetings and handling negotiations.
• Excellent communication and interpersonal skills to manage stakeholder relationships.
• Proficiency in credit control software and MS Office, especially Excel.
• Ability to work under pressure and manage multiple priorities effectively.