Credit & Collections Manager

Manager (Manager/Supervisor of Staff) Education Level: Bachelor's Degree Contact Information Reference Code: 2201 Job Description Credit & Collections Manager SUMMARY   Position is accountable for managing all accounts receivable operations in a manner that protects the company’s investment in accounts receivable, maximizing cash flow, creating growth opportunities by partnering with sales, and profitability by identifying opportunities through productivity improvements and elimination of waste in order to cash processes.  The Manager of Customer Financial Services will be a key leader in hiring, developing and retaining talented staff to create a Center of Excellence for the credit and collections functions.  The Manager will create a team that develops, recommends and implements best practices as it relates to the credit and collection functions while maintaining strong internal controls and complying with Pentair Policies and reporting requirements.  The Manager will possess strong analytical and process knowledge to drive productivity and results by implementing innovative solutions that benefit the customer and Pentair.   The successful person in this position must also possess strong leadership skills and the ability to coach and mentor team members to drive performance in the accounts receivable portfolio.   Excellent opportunity for a highly motivated individual who can implement change and have a positive impact on the organization!   Position requires some travel.   Duties will be in accordance with established policy guidelines as set by Pentair, Inc. in conformity with all applicable State, Federal, and country laws.   Manage and improve performance of Accounts Receivable functions of the Center of Excellence. Develop and achieve annual DSO targets for Global Business Unit. Develop and achieve annual past due percentage targets. Develop and achieve bad debt percentage targets. Achieve annual delinquency targets for customer deductions and short pays.  Distribute monthly performance reports that identify deductions by type and aging and recommend and implement solutions for improvement. Achieve annual benchmarks established by the business units in the service level agreements. Manage, train and develop a team of credit and collection professionals to implement process improvements and achieve annual business goals in the credit and collection functions. Advise Finance, Customer Service, Sales, and Operations management of risks and opportunities in the customer base, and communicate problems in the order-to-cash process. Develop and implement standard processes and procedures in the credit and collection functions including the establishment of monthly metrics to identify areas for improvement and drive team performance. Recommend and implement technology improvements to drive productivity. Prepare weekly, monthly, quarterly and annual required Corporate reports. Prepare monthly service level agreement reports that provide metrics to Vertical Markets on their A/R portfolio and on the center’s total portfolio. Lead efforts within the Global Business Unit to capture synergies and adopt best practices.   Attain and sustain compliance with the key elements of the Pentair Corporate Credit and Collections Policy. Ensure all credit lines are reviewed annually within 12 months of their prior review. Ensure compliance to policy in adherence of Sarbanes-Oxley requirements and work cooperatively with internal and external auditors to address and resolve any potential findings. Prepare and submit annual USA Escheatment reports in compliance with State laws as they pertain to accounts receivable and as requested by Finance.   ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned. Oversee work performance by employees including establishing goals aligned with annual Corporate and service level agreements.  Provide written policies and procedures with instruction, information, and education to enable the team to be successful. Communicate directly with existing or new customers to assist in establishing, or negotiating and enforcing credit and payment terms. Prepare annual credit reviews in accordance with policy to assess customer risk and make recommendations for conducting business with customer. Conduct full account reviews to track performance level of team in all categories mentioned above and drive group performance through by coaching and mentoring employees.  Prepare monthly reports on A/R performance, cash forecasts and significant credit exposures for both GBU and Corporate management. Communicate cash flow goals and objectives to other personnel. Partner with Sales, Marketing, Finance, and Operations, personnel to develop customer management strategies, resolve business matters and discuss customer account status. Attend Customer meetings for resolution of Collection, Reconciliation and Order Compliance issues and to maintain strong Customer relationships by recommending, developing and implementing process improvements.Negotiate customer workouts and bankruptcy activity.  Participate on Creditors’ Committees as needed. Lead with integrations and due diligence tasks associated with mergers, acquisitions, JV’s, and/or divestitures that may impact the Center of Excellence for Customer Financial Services. Coordinate activities with professional resources (legal, collection agencies) to mitigate risk and enhance sales. Attend industry interchange group meetings to gather industry and competitive information to understand trends and best practices.  Attend trade shows to interact with customers & and Sales to understand issues and implement solutions. Complete special projects as assigned by the Division Controller and CFO. Resource Management Responsibility   Number of employees:  5-7 Non-exempt Annual Expense Budget: Will be responsible to manage department budget and to explain expense variances on a monthly basis. Annual Capital Budget  N/A Working Capital:  Monthly Accounts Receivable of approximately $50 Million QUALIFICATIONS EDUCATION and/or EXPERIENCE Bachelor degree in business related field. CICP, and CCE certifications preferred but not required. Must possess strong systems knowledge and proven skills in implementing technology to achieve productivity improvements. A minimum of 7 years commercial credit and accounts receivable management experience. Export credit and financing experience desired. Good working knowledge of commercial credit law, bankruptcy law, financing activity (both secured and unsecured transactions), and cash forecasting is needed.  In addition, knowledge of current industry, economic, political, and geographical conditions is needed. Strong analytical skills including understanding of accounting, operations, financial statement, and credit analysis. Must possess strong management, coaching, and motivational skills. Conduct themselves with highest levels of integrity and ethics. Ability to readily adapt to change and assist team in managing change. Strong problem solving and decision making skills. Strong project management skills and ability to manage multiple priorities. Strong communication skills, both written and oral, as well as group presentation skills.  Communications with sales is critical in this role. Ability to work well with all levels of GBU and Corporate personnel. End-user computer skills, including Microsoft Word, Lotus Notes, and Microsoft Excel.  Candidate should also, be competent with use of the Internet and electronic commerce. JDE and SAP experience preferred. Foreign language skills (written and oral) a plus.   Job Code : FILTCORP-CrdtMngr0908 Division/Department : Filtration Travel Required : 20-30% Skills : Finance -> Compliance, Risk & Audit, Commercial Credit, Administrative SupportComputer Programs -> Microsoft Excel, Lotus Notes Pentair is an Equal Opportunity Employer.