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Arrowhead Engineered Products · 1 day ago

Credit & AR Manager

Blaine, MN

Full-time

Onsite

Senior Level

7+ years exp

Arrowhead Engineered Products is responsible for the North America Powersports credit function, and they are seeking a Credit & AR Manager to oversee and coordinate the activities of the Credit Department. The role involves implementing credit policies, managing credit analysts, and making critical decisions regarding account receivables and risk evaluation.

AutomotiveIndustrialManufacturingService Industry

Hiring Manager

Tonya S.

Responsibilities

Establish and implement credit policy; continuously evaluate the effectiveness of current collection policies and procedures; develop strategies for reducing costs, account receivable delinquencies, and bad debt write-offs

Keep informed of current economic trends in the industry

Develop work strategies and goals focused on process improvement and efficiency. Lead implementation and training of Credit Analysts

Make critical decisions on account receivable maximum exposures for U.S. and International dealers

Evaluate risk. Develop strategies to reduce exposure to write-offs

Compile quarterly bad debt reserve recommendation with support. Make monthly adjustments for material changes

Negotiate with external finance companies to assign new dealers and credit limits

Approve, hold, or deny customer orders and transfers based on the status of the customer’s account

Assign duties to the Credit Analysts and conduct regular performance discussions to support continued achievement of job duties and talent development

Assign responsibility to team members for investigating and verifying financial status of prospective credit customers and prepare documents to substantiate findings; review and recommend rejection or approval of applications

Collect on account receivable portfolio, which includes International, Contract Manufacturing, National Retailer, National accounts, and Dealer accounts

Demonstrate effective leadership by establishing development programs for Credit Analysts

Handle special credit arrangements and deviations from standard terms of payment

Audit delinquent accounts considered to be uncollectible to ensure maximum efforts have been taken before assigning bad debt status to account; refer delinquent accounts to collection agency or attorney for legal action

Coordinate terms for seasonal plans with other internal departments and external finance companies

Maintain positive relationships and open communication with external and internal customers. Initiate proactive touchpoints with customers to build ongoing relationships. Ensure all customer collections decisions are discussed and in partnership with Business Line Leaders and in-line with corporate goals. Keep FP&A & Sales Leaders informed

Review and analyze AR aging reports. Assist Director Financial Shared Services in compiling and analyzing statistical data and key metrics

Initiate and track repossessions of delinquent and/or terminated dealers

Coordinate the securitization of open account dealers

Hire, train and supervise credit and collections staff

Other duties as assigned

Qualification

Credit Policy DevelopmentRisk EvaluationCredit ManagementLeadershipMicrosoft Office SuiteFinance KnowledgeAccounting KnowledgeProcess ImprovementNegotiationCommunication