Description:
The Credit Controller plays a crucial role in managing the credit policies and ensuring timely collection of outstanding invoices. This position is fundamental for maintaining healthy cash flow and minimizing financial risk for the organization. The ideal candidate will liaise with clients to implement credit arrangements, conduct risk assessments, and work towards reducing payment delays. With a keen eye for detail and strong negotiation skills, the Credit Controller will review credit terms and utilize data analysis to drive improvements. In this fast-paced role, the Credit Controller will collaborate closely with the sales department and finance team to ensure a solid credit management framework is in place, aligning with the company's financial goals. The successful candidate will be adaptable to change, proactive in identifying potential financial risks, and committed to fostering strong client relationships to improve overall financial performance.
Key Responsibilities
- Manage the credit control process from setting credit limits to ensuring payments are collected on time.
- Maintain accurate records of customer accounts and outstanding invoices.
- Contact customers to remind them of overdue payments and negotiate payment arrangements.
- Prepare monthly aged debt reports and present them to management.
- Investigate discrepancies and resolve billing issues with clients.
- Monitor and assess clients' creditworthiness to mitigate financial risks.
- Conduct regular reviews of credit policies and make recommendations for improvement.
- Work with the sales department to ensure credit policies are communicated effectively.
- Develop positive relationships with clients to promote timely payments.
- Maintain accurate internal records for all collection activities.
- Collaborate with the finance team to align cash flow and reporting requirements.
- Update customer records in the accounting software as necessary.
- Handle legal actions and recoveries when necessary with proper documentation.
- Keep informed of industry trends and risks related to credit management.
- Train and support junior staff in credit control processes.
Required Qualifications
- Bachelor's degree in finance, accounting, or a related field.
- Proven experience from UK market in a credit control or finance role.
- Strong understanding of UK accounting principles and financial regulations.
- Proficiency in accounting software and Microsoft Office Suite.
- Excellent communication and negotiation skills.
- Ability to analyze financial data and prepare reports.
- Knowledge of credit risk assessment techniques.
- Experience in building and maintaining customer relationships.
- Strong organizational skills with the ability to manage multiple priorities.
- Attention to detail and problem-solving mindset.
- Ability to work independently and as part of a team.
- Familiarity with relevant legal collections practices.
- Ability to work under pressure and meet tight deadlines.
- Experience in training or mentoring staff is a plus.
- Commitment to continuous professional development in finance or credit management.