Credit Manager

About This Role

The Credit Manager coordinates, oversees, and manages accounts receivable and collection duties. This role involves approving or declining and issuing lines of credit to customers, conducting credit investigations, and following proper credit approval procedures to limit losses while growing the store’s accounts receivable. The manager also ensures that customers with delinquent accounts are contacted and proper collection procedures are followed.

Responsibilities

• Supervise, direct, and lead assigned staff, processing employee concerns and problems, directing work, disciplining, and providing general guidance to attain efficient office and credit operations
• Manage and oversee the activities and operations of the accounts receivable and collection areas
• Review and evaluate applications; investigate and verify financial status and reputation of prospective customers applying for credit
• Prepare documents to substantiate findings; recommend rejection or approval of credit applications
• Establish credit limitations on customer’s account
• Contact customers by telephone and/or text to determine reason for overdue payment, reviewing terms of sales, service, or credit contract with customer in an attempt to gain payment
• Mail form letters, texts, and/or late charge notices to customers to encourage payment of delinquent accounts
• Travel to customers’ homes to collect on late payments
• Assist with repossessions of merchandise as necessary
• Ensure payments are posted to customer’s account
• Ensure all correspondence and attempted correspondence with customers concerning accounts is properly documented
• Review and analyze collection reports to ascertain status of collections and balances outstanding and to evaluate effectiveness of current collection policies and procedures
• Review delinquent account records to determine which customers must be contacted for collection of overdue accounts
• Organize collection workload according to degree and amount of delinquency
• Determine which accounts to delegate to assigned staff for collection
• Prepare paperwork prior to legal action to be initiated against severely late-paying customers
• Submit delinquent accounts to attorney or outside agency for collection with prior approval of the Store Manager
• Store customer files in a fireproof cabinet and maintain them in alphabetical order, filed based on the current status of the account as follows: Active, Paid Out, Charge-Off, Repo, and Bankrupt
• Ensure customer files remain in the office area and are not handled, used, or stored on the sales floor areas
• Refer to and follow all other areas of Handling Customer Files and Personal Information Procedure
• Responsible for office organization, ensuring that each day’s bookkeeping workload including customer files are filed away accordingly by the end of each business day
• Implement and use the company’s Bookkeeping Checklist when completing the daily bookkeeping work
• Deposit all cash receipts to the store's bank account in a night deposit bag on the day it is received
• Leave the cash drawer fund in a bank night depository if possible
• Leave cash drawers empty and open each night
• Lock the cash drawer and remove the key any time it is left unattended, with the key remaining in the possession of the employee assigned responsibility for that cash drawer by the Store Manager
• Refer to and follow all other areas of ARS 15
• Collect on returned checks and delinquent accounts
• Maintain a work environment free of legally prohibited discriminatory practices and sexual harassment
• Complete, prepare, review, and/or approve a variety of forms, logs, requests, records, reports, correspondence, and other documents associated with daily responsibilities of this position
• Oversee maintenance of accurate files and administrative records
• Operate a calculator, copy machine, telephone, or other equipment as necessary to complete essential functions
• Uphold and promote H.O.M.E. values: Helping others, developing Ordinary people to do extraordinary things, being a Motivated owner that cares, and Ensuring that excellence is a habit personally and for those entrusted to them to lead
• Perform the duties of the Store Manager as required
• Assist in other store departments as required
• Perform other related duties as required

Requirements

• High School Diploma or GED required
• Three (3) years experience in accounting/bookkeeping, loan processing, and/or collections; or any combination of training, experience and education which provides the required knowledge, skills, and abilities for this position
• Must possess and maintain a valid State Driver’s License
• Data Utilization: Requires the ability to evaluate, audit, deduce, and/or access data using established criteria. Includes exercising discretion in determining actual or probable consequences and in referencing such evaluation to identify and select alternatives.
• Human Interaction: Requires the ability to function in a managerial capacity for a division or organizational unit. Includes the ability to make decisions on procedural and technical levels.
• Equipment, Machinery, tools, and Materials Utilization: Requires the ability to operate, maneuver and/or control the actions of equipment, machinery, tools, and/or materials used in performing essential functions.
• Verbal Aptitude: Requires the ability to utilize a wide variety of reference, descriptive and/or advisory data and information.
• Mathematical Aptitude: Requires the ability to perform addition, subtraction, multiplication, and division; the ability to calculate decimals and percentages; the ability to utilize principles of fractions; the ability to interpret graphs.
• Functional Reasoning: Requires the ability to interpret instructions furnished in written, oral, diagrammatic, or schedule form; the ability to apply principles of rational systems; and to exercise independent judgment to adopt or modify methods and standards to meet variations in assigned objectives.
• Situational Reasoning: Requires the ability to exercise judgment, decisiveness and creativity in situations involving the evaluation of information against sensory, judgmental, or subjective criteria, in addition to that which is clearly measurable or verifiable.
• Physical Ability: Tasks require the ability to exert moderate physical effort, though not constant physical effort, typically involving some combination of climbing and balancing, stooping, kneeling, crouching, and crawling, and which may involve some lifting, carrying, pushing and/or pulling of objects and materials of moderate weight (12-50 pounds).
• Sensory Requirements: Some tasks require the ability to perceive and discriminate colors or shades of colors, sounds, depth, and visual cues or signals. Some tasks require the ability to communicate orally.
• Environmental Factors: Performance of essential functions may require exposure to adverse environmental conditions, such as dirt, dust, temperature extremes, electric currents or toxic agents/chemicals.

About the Company

Farmers Furniture is an Equal Opportunity Employer committed to maintaining an environment free of harassment and discrimination.