Stanton House – Southampton, City of Southampton
A private equity backed technology group is looking to appoint a Head of Credit Control. Within this role, you shall be responsible for ensuring customer accounts are managed efficiently and payments are received promptly. This team ensures that cash generation into the business is maximised, and that aged debt is minimised each month.
This role is also responsible for overseeing the credit management and collection processes within the group. The Head of Credit Control will ensure the business extends credit to their partners in a way that balances maximising sales with minimising financial risk. This position is critical in balancing sales growth with risk management to safeguard the financial stability of the business.
In order to succeed in the role:
1. Demonstrable work experience within credit control.
2. Strong experience of dealing with high volumes of customer invoicing across multiple product lines.
3. Proactive and tenacious, able to effect change on systems, processes, and people.
4. Strong understanding of financial accounting and compliance regulations.
5. Strong leadership and management skills with demonstrable experience of managing a credit control team at scale.
6. Excellent communication and stakeholder management/engagement skills.
7. Strong analytical and problem-solving skills.
8. A demonstrable record of improving credit control processes and reducing aged debt.
9. An assertive and confident individual who is able to deal with a variety of stakeholders.
10. Experience of using credit management and financial software.
11. Strong attention to detail with the ability to work under pressure.
12. Strive for continuous improvement and achieve excellent customer and business outcomes.
Responsibilities shall include but not be limited to:
1. Establish and update credit policies and procedures.
2. Set credit terms and conditions for partners, including credit limits and payment deadlines.
3. Ensure credit policies align with the business's financial goals and risk tolerance.
4. Evaluate and assess the creditworthiness of new and existing customers using financial statements, credit reports, and other data.
5. Approve or decline credit applications based on established criteria.
6. Oversee the timely collection of outstanding debts and manage overdue payments.
7. Ensure that debtors are contacted and pursued for payment in accordance with company policies.
8. Implement strategies to reduce late payments and improve cash flow, such as negotiating repayment plans or taking legal action where necessary.
9. Monitor key performance indicators (KPIs) such as debtor days, aged debt levels, and collections rates.
10. Prepare regular reports for senior management, outlining credit control performance, outstanding debts, and credit risk.
11. Lead, mentor, and develop the credit control team, ensuring they have the skills and training needed to perform effectively.
12. Set clear performance targets and goals for the credit control team.
13. Handle escalations and complex credit issues that require managerial oversight.
14. Ensure the business complies with relevant credit and debt collection laws and regulations.
15. Collaborate with the in-house legal team to handle disputes or litigations regarding unpaid debts.
16. Liaise with internal departments, such as sales and the wider finance team, to ensure smooth credit control operations.
17. Work closely with customers to maintain good relationships while managing payment terms effectively.
If you meet the above-mentioned criteria, please apply below. Unfortunately, we shall be unable to respond to all unsuccessful applicants.
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