TITLE: CREDIT RISK ANALYST
DURATION: FULL-TIME DIRECT HIRE
LOCATION: SCHAUMBURG, IL
- Bachelor’s Degree required with major area of study in Finance, Accounting or Business Administration preferred.
- NACM Certification in Credit Analysis (Preferred)
- Minimum: 3-5 years’ experience in credit and accounts receivable (non-managerial roles)
- Hands on SAP experience preferred (accounts receivable and credit functionality experience preferred).
- Strong computer skills required (MS Office Suite including Word, Excel Power point) required. Experience working with large data files in Microsoft Excel preferred (VLOOKUP's/pivot tables), Microsoft Word (mail merge).
- Good understanding of Uniform Commercial Code, Letter of Credits, Credit Insurance Policies, etc.
- Excellent verbal and written English communication skills; and the ability to disseminate data.
This position is responsible for analyzing the risk associated with extending credit lines to customers, overseeing accounts receivable and inventory balances, and monitoring credit and cargo insurance. The individual will support the business activities of the company’s sales divisions with the objective to minimize risk and maximize profitability. Ability to manage accounts receivable responsibilities associated with this role in an effective manner.
Credit and Accounts Receivable Analysis (60%)
- Receive credit application requests from sales divisions. Conduct financial analysis and provide interpretation of customer’s financial status for proper evaluation of risk and establishment of credit. Submit recommendation credit limit recommendations and obtain proper approvals.
- Oversee special credit arrangements, secure credit insurance, letters of credit, and/or UCC filings as necessary.
- Oversee open UCC filings, renew or cancel filings as needed.
- Oversee analysis of accounts receivable, aging of accounts, calculation of allowance for doubtful accounts, and collection procedures.
- Conduct monthly long outstanding meetings with sales division staff to ensure A/R and inventory integrity.
- Assist in divisional discussions of long outstanding account balances and necessary action to be taken in order to minimize risk. Resolve past due balances through phone calls or meetings with customers (phone or on-site visits) / high level executives.
- Monitor credit limits and communicate credit concerns timely to Corporate Risk Manager.
- Develop relationships with mutual vendors for best practices and reference sharing.
- Continuous improvement SAP functionality related to AR.
- Complete financial review on all HTA accounts with credit limits by August and February of each year. Take action to mitigate risk for high risk accounts.
Purchasing and Inventory Analysis (25%)
- Provide support to department manager regarding inventory and purchase order monitoring and publication of monthly inventory reports.
- Provide support and advice to sales divisions regarding warehousing activity and necessary legal agreements.
- Continuous improvement SAP functionality related to purchasing and inventory.
- Travel to conduct physical inventory counts twice a year or more as needed.
Insurance Responsibilities (10%)
- Handle activity of claims processing.
- Analyze loss ratios and recommend proper plan of action to department manager.
- Negotiate credit insurance limits directly with credit insurer’s underwriters.
- Oversee renewal application process for all insurance policies excluding health & benefits.
- Identify areas of company risk as well as areas of cost savings related to risk management.
Sales Division Support (5%)
- Provide support for annual audit activity, Sarbanes Oxley compliance and other regulatory requirements.
- Provide support to sales divisions for ongoing operations by monitoring risk factors, providing flash reports, arranging necessary action plans, and minimizing overall risk.
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Uniform Commercial Code