AR Credit and Collection Manager
AR Credit and Collection Manager
Direct Manager : VP Finance, APAC
Location : Singapore
Job Purpose : Owns and accountable for aged debts and credit management for Enterprise and Public Safety business lines for APAC. Ensure aged debts > 120 days is within 8% of total debts, meet forecast collection quarterly and manage WNS to meet collection target and aging target.
- Perform credit evaluations on new customers with collaboration with Corporate, propose solution to ensure credit is managed for deals to be closed.
- Monitor existing customers' adherence to payment terms and/or changes
- Financial stability and re-evaluate credit terms accordingly.
- Support Local Sales and Finance organization on Credit and Collection Policies and maintain excellent communication on all issues relating to effective customer set-up, credit terms, billing, and escalation resolution.
- Proactively work with sales to ensure no bottleneck on credit application at month end or quarter end.
- Support information required for RFP and for vendor set-up purposes from customers
- Proactively work with Procurement on D & B or ICIC credit rating agency access pricing and negotiation.
- Enforce payment terms and meet cash goals and relevant KPI targets.
- Monitor receivable portfolio to proactively increase cash flow and minimize company's exposure to bad debt.
- Establish strong relationships with customers, Business Partners, internal finance and sales organizations.
- Support the resolution of discrepancies with customer and Sales Department.
- Monitor to ensure timely escalation to sales, services and maintenance team with aim to improve collections and enforcement of credit and collection policies. Monitor to ensure follow standard agreed chaser letter template.
- Participate in bi-weekly or weekly Sales meetings to help drive receivable performance improvements
- Oversee cash application process. Process refunds and credit requests. Reconcile prepayments.
- Complete required reports to Treasury to send to third party for credit assessment and insurance.
- Manage the accuracy of new and changed customer information in Oracle.
- Collaborate with sales and Order management team to ensure the accuracy of invoicing. Analyse root cause and have meetings to agree to short term tactical plan and longer term fix to avoid repeat situation.
- Manage Collection forecast – plan and review on path to meet target, monthly collection forecast report, review submission from outsourcer.
- Support Finance with accurate revenue recognition for customers where revenue is recognized on collection basis.
- Introduce and enforce policies and procedures to support AR collection
- Continued process improvements – proactively work on High Radius project.
- Supervise and manage performance of outsourcer.
Qualification & Requirements
- Commerce Graduate in Accountancy or equivalent
- Must speak and read and write Mandarin
- Minimum 7 years of credit and collection experience in multinational environment, especially in software industries; of which 3 years must be in a manager position.
- Good Microsoft Excel skills, computer literate and experience in computerized accounting system. Working knowledge of Oracle AR Advance Collection module. Working knowledge of business object is an added advantage.
- Possess good communication skills, fluent in English
- Experience in managing outsourcer in a shared service environment.
- Ability to function in a positive stress environment.
- Proactive, adaptable to change, flexible.
- Ability to convince and influence change, good negotiation skills and think outside the box.
- Meticulous with an eye for detail, diligent and persistent.
- Good interpersonal skills and problem-solving skills
- Performs work with minimal direction, escalate on a timely basis when assistance is required
- Able to start work immediately is an advantage
NICE is committed to provide an environment based on equal opportunity for all qualified applicants and employees. It is the policy of NICE to afford equal employment opportunities to qualified individuals, regardless of age, race, color, creed, religion, citizenship, ancestry, national origin, sex, gender, pregnancy, mental or physical disability, marital status, veteran status, service in the Armed Forces, sexual or affectional orientation, atypical hereditary cellular or blood traits, genetic information, status as a victim of domestic or sexual violence, and/or any other status protected by any applicable federal, state and/or local statute or regulation.