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Role name: Credit Manager

Reports to: Finance Director

Role Summary:  

The credit manager position is accountable for the entire credit granting process, including the consistent application of a credit policy, periodic credit reviews of existing customers, and the assessment of the creditworthiness of potential customers, with the goal of optimizing the mix of company sales and bad debt losses.

Qualifications: 

  • Education and Experience 
    • Bachelor's degree in business, accounting, or finance 
    • 5+ years of experience as a credit manager for small and medium-sized enterprises (SMEs) or Bank, with experience in credit scoring systems
    • Familiar with banking and credit laws and regulations of Kenya / East Africa 
    • Be willing to periodically travel to customer sites. Have considerable experience with customer negotiations.
    • Proven track record of making successful credit decisions
  • Knowledge, skills, and abilities 
    • Strong strategic thinking and analytical skills
    • Communication, relationship-building, and project management skills
    • Proven ability to successfully manage multiple projects in a dynamic environment with a sense of urgency
    • Excellent written, oral, and presentation communications skills
    • Ability to act with a high level of integrity and confidentiality
  • Personal attributes
    • Confident, driven, and dynamic leader
    • Entrepreneurial mindset to develop new credit services and customize existing credit offerings to meet member and distributor needs
    • Comfortable working in a fast-paced, start-up office environment.
    • Occasional overtime may be necessary
    • Ability to work with difficult debtors
    • Good interpersonal skills, as necessary to collaborate effectively with people at all levels across the organization and outside

Responsibilities: 

  • Management
  • Credit Control Strategy/ Policy Development
  • Maintain a department organizational structure and reporting structure sufficient to meet all goals and objectives
  • Hold day-to-day responsibility of Accounts Receivable management for all credit/ inventory management products
  • Develop metrics and scoreboards to monitor credit control activities, subject to Finance Department, CEO, and Board approval 
  • Provide for ongoing training of members, Relationship Managers, and, upon expansion of the credit team, the credit staff
  • Manage relations with credit reporting agencies
  • Under supervision of CEO and Finance Director, assist in managing relationship with banks/ working and credit insurance providers
  • Manage relations with the Sales and Marketing team
  • Manage relations with the Credit Reference Bureau (CRB) of Kenya, other credit data agencies, and collection agencies
  • Personally, visit the largest customers and distributors to establish and manage relationships 
  • Develop the credit control system in collaboration with Sales and Marketing, Finance and company executives; work alongside Finance and IT colleagues to ensure ERP and other systems are providing timely data for credit management processes and reporting to members, financial services firms, regulators, and other partners.
  • Maintain accurate records of loans, analyze the effectiveness of the company’s credit control system, and implement changes to improve profitability and reduce bad debts 
  • Develop and maintain the corporate credit policy
  • Recommend changes in the credit policy to senior management
  • Create a credit scoring model
  • Assist in the setting up of the credit control system, including reporting to Board, Senior Executives, and to equity/ debt investors 
  • Manage customer credit files
  • Keep the partnership up to date with new credit management techniques and practices
  • Credit Control Operations
    • Design and monitor the credit granting and updating process; including accepting or rejecting the staff's and Sales / Marketing team credit recommendations
    • Set up the terms and conditions of a loan to be in line with the risk, amount, and type of loan.
    • Manage the prompt and effective collection of all debts and payments and negotiate repayment plans when necessary; follow up on overdue balances by telephone, email & letter within agreed timescales
    • Monitor credit usage and set up periodic credit reviews
    • Identify changes in payment patterns and credit ratings, and propose action to avert indebtedness
    • Ensure that all transactions are compliant with all banking / credit regulations
    • Oversee the forwarding of monthly statements to clients to keep them updated on debt collection activities
    • Manage disputed bills and negotiate to bring payment within the agreed terms
    • Manage the application of late fees
    • Provide accurate advice on billing queries; respond promptly and completely to both client and internal enquiries
    • Improve and implement debt collection processes when there are any overdue invoices or payments, and start legal procedures if necessary 
    • Propose writing off irrecoverable loans 
    • Undertake account reconciliations as needed
    • Ensure monthly processing deadlines are met
    • Send out monthly client statements/letters
    • Assist members in setting up simple credit control systems that allows for periodic debt repayment
    • Other duties as delegated from time to time by the Finance Manager or any other person appointed in their absence

 

Job Details

Level : Mid level
Industry : Business
Salary : Ksh 90,000 - 105,000
Experience : 5 Years
Applications : 8
Locality : Nairobi, Kenya
Eligibility : Bachelor
Company : Kaziweza limite...
Posted By Kaziweza limite... / 15 Apr 2021

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