Credit & Collections Analyst

Credit and Collections Analyst

Location: Shelton, CT - fully in office

This organization is a longstanding client of ours who prides themselves on delivering top-notch products and services in the manufacturing industry.

Job Description: We are looking for a detail-oriented and proactive Credit and Collections Analyst to manage and optimize our credit and collections processes. In this role, you will be responsible for assessing creditworthiness, managing accounts receivable, and ensuring timely collection of outstanding invoices. Your analytical skills and financial acumen will be crucial in maintaining our financial health and supporting our continued growth.

Key Responsibilities:

• Processes all credit applications for potential new customers.
• Conducts reference checks, runs D&B reports & obtains financial statements when appropriate.
• Works with Sales and Brokers to complete files for any information needed.
• Reviews the entire active customer base annually, makes recommendations for any customer credit limit changes.
• Changes must be presented with proper documentation for upper management approval.
• Performs a daily review of sales orders that go on credit hold.
• Releases orders that fall under the customer's credit limit without management review; obtain management approval for release of orders that will extend customer over credit limit.
• Corresponds with customers, brokers, and sales managers as needed.
• Responsible for collecting on the entire aging.
• Negotiates special payment plans as necessary, after obtaining senior management approval.
• Identifies, records & determines status of all chargebacks.
• Communicates via bi-monthly reports the status of the chargebacks to the salesmen.
• Initiates collections proceedings on denied chargebacks.
• Manages bad debt determination.
• Initiates collections process if necessary.
• Provides Accounts Receivable and Sales information for analysis.
• Adds new customers into TMM & reviews coding on all customers periodically to ensure reporting accuracy.
• Assists in developing Accounts Receivable & Collections policies & procedures.
• Participates in external credit associations.
• Performs other duties as assigned by the Controller

Qualifications:

• Bachelor's degree in Finance, Accounting, Business Administration, or a related field.
• Proven experience in credit and collections, preferably within the manufacturing sector.
• Strong understanding of credit management, financial analysis, and collections strategies.
• Excellent communication and negotiation skills.
• Proficiency in accounting software and Microsoft Office Suite.
• Ability to work independently and manage multiple priorities in a fast-paced environment.
• Detail-oriented with strong analytical and problem-solving skills.