Credit and Collections Analyst
This position in the Accounts Receivable and Credit department is responsible for credit and collection activities including collection of past due accounts, and order hold / credit line decisions working with our dealers and the sales team. This position will support the La-Z-Boy Residential, England, and / or Case Goods business units in a team environment.
- Manages a portfolio of 300-600 dealer accounts ranging in size from $1k to $10 Million in A/R; analyze past due aging reports, review account sales and payment history, and determine adequacy of account credit limits. Make dealer contact when accounts are past due (collection calls) or over credit line and put dealers on credit hold when necessary. Negotiate payment plans, personal guarantees and/or UCC Filings as appropriate.
- Makes and implements real-time decisions on incoming orders (credit check process) to determine if orders can be released after assessing the value of the held orders, credit line, past due, total owing, average days late, and the value of the new order.
- Interviews dealer owners or controllers to assess risk, discussing their business conditions and reasons for delinquent accounts. Negotiates dealer repayment plans. Analyzes dealer financial statements using department templates and trending. Recommends accounts for collection agencies or write off, and monitors status through the settlement / lawsuit/ write off process, working with department management. Maintains, reviews, and updates dealer credit files per department procedures to document our work.
- Communicates with other departments, plants, sales and dealer regarding requests and disputes (deductions) to troubleshoot and drive resolution. Communicates findings effectively to applicable parties.
- Takes action to drive improvement in Days Sales Outstanding (DSO), past due trending, deteriorating accounts, and accounts over credit line. Prioritizes and controls workload/projects to achieve desired results while striving for continuous improvement and additional dealer and order to cash process knowledge. Contributes to support La-Z-Boy projects, acquisitions, and IT upgrades.
- Partners with the sales team to grant credit for new accounts up to $50k utilizing various sources of information including trade references, credit reports, and customer financial statements or guarantees / collateral.
- Strive to meet key metrics and activities including mitigation of credit risk, past due amounts and trend, DSO, credit limit reviews completed, and invoicing and dispute troubleshooting.
SCOPE & IMPACT:
Member of a team that is responsible for managing a portfolio of the La-Z-Boy Residential, England, and Case Goods Trade Accounts Receivable balance which is approximately $140 Million USD, on sales of over $1.0 Billion USD, to approximately 4300 Dealers. This position is the 1st point of contact for A/R and credit issues. This role can generate incremental sales with appropriate risk-taking and is key to cash flow. This position works with other departments including Sales, Comfort Care, Merchandising, Logistics, IT and other Business Unit Partners.
• Associates Degree in Accounting, Finance, or related field with 2-4 years of relevant experience, or equivalent
• Strong oral and written communication skills, and ability to collaborate across functions and all levels
• Proficient in Microsoft Office Suite
• Strong attention to details, ability to prioritize, proactive nature
• Travel required: Up to 5%
Bachelor’s degree in Accounting, Finance, or related field
Proficient in JD Edwards E1, AS400or other ERP
SUPERVISORY RESPONSIBILITIES: None
PHYSICAL DEMANDS/WORK ENVIRONMENT:
Office environment / no specific or unusual physical or environmental demands.
Lead the Team
Impact and Influence
Coach and Develop
At La-Z-Boy, we are committed to fostering an environment in which all employees feel valued, included, and empowered to do their best work and bring great ideas to the table. We understand that our employees’ diverse backgrounds, experiences, perspectives, and viewpoints add value to our ability to create and deliver the best possible service, quality products, and is of upmost importance as we work together to Build Something Amazing.
OTHER DUTIES: Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the incumbent for this job. Duties, responsibilities, and activities may change at any time with or without notice.
Equal Opportunity Employer/Veterans/Disabled:
La-Z-Boy is an Equal Opportunity and Affirmative Action employer. It is our practice to provide equal employment and advancement opportunities to all individuals. All employment decisions and related entities will be made on merit, qualifications, and abilities. It is our policy and commitment to ensure equal opportunity is provided in all employment opportunities and practices, regardless of race, color, religion, age, marital status, sex, sexual orientation, gender identity, genetic information, national origin, veteran status, disability, or any other characteristic protected by law. La-Z-Boy is an equal opportunity employer that is committed to working with and providing reasonable accommodations to individuals with disabilities. If you have a disability and you believe you need a reasonable accommodation in order to search for a job opening or to submit an online application, please e-mail [email protected] or call (734) 242-1444. Only messages left for this purpose will be returned. If you would like more information about your EEO rights as an applicant under law, please CLICK HERE.