Credit Controller

The Credit Controller is responsible for the development and implementation of credit transaction guidelines, along with monitoring and managing credit sales.

Key Responsibilities:

Customer Master Management;

• Add and modify customer accounts within the accounting system ensuring accountancy and completeness. Co-ordinate with the business team to maintain current and accurate & customer information in the CRM.
• Review and update customer credit agreements, ensuring compliance with internal policies and legal requirements.

Customer Account Management;

• Coordinate with branch accountants and cashiers to ensure timely collection and accurate accounting of daily sales.
• Prevent duplication of customer accounts within the legal entity and across the group.
• Oversee the creation and maintenance of customer master data in the new ERP system.

Credit Limit Management;

• Assess and approve credit limit increases based on customer creditworthiness and financial history.
• Regularly review and adjust credit limits in accordance with company policies and customer payment behaviour.
• The role requires independent market visit (separate from the sales team) to meet customers particularly those with outstanding dues exceeding their credit limits to ensure rigorous follow up for collections.
• Liaise with banks to facilitate financing solutions for customers.

Outstanding Dues Monitoring;

• Monitor outstanding dues and track overdue payments.
• Follow up with customers on overdue payments to ensure timely collection.
• The candidate should have authority to recommend stop supplies in case of significant deviations in consultation with the business.
• Appoint debt collectors as needed for long-outstanding receivables.
• Coordinate with the legal team to enforce or encash securities from defaulting customers.

Reconciliation and Reporting;

• Conduct periodic reconciliations of customer accounts to identify discrepancies and ensure accuracy.
• Generate and share weekly or fortnightly debtors’ outstanding reports with management, providing analysis of long outstanding amounts and action plans for resolution.

Transfer & Reversal Management;

• Regularly review and manage account transfers and reversals, ensuring any incorrect postings or outstanding amounts are corrected promptly.

Payment Validation;

• Validate payment proofs and ensure authenticity by cross-checking with bank statements.
• Investigate any discrepancies or issues related to payments received.

Account Closure/Blocking;

• Close or block customer accounts as required under various situations, ensuring proper documentation and compliance with company policies.

Adherence to RACI Matrix;

• Ensure all customer appraisals and credit limits are managed in alignment with the RACI (Responsible, Accountable, Consulted, Informed) matrix.

Compliance with Procurement Laws;

• Ensure that all credit-related jobs or additional jobs are backed by a proper LPO (Local Purchase Order) or approval letter.

Requirements:

• Chartered Accountant (CA) / MBA Finance from reputed university
• Certified Credit Professional having expertise in credit management and risk analysis
• 10-12 years relevant experience in credit management, financial analysis or a related field, with a focus on credit transactions and debtors’ management.
• Experience in working with financial systems and accounting software (e.g., SAP, Oracle, QuickBooks).