Senior Credit and Collections Specialist (Construction)

Position Summary

We are looking for an accomplished Senior Credit and Collections Specialist with a focus on the construction industry. This role is pivotal in shaping our credit management and collections processes, ensuring robust cash flow and minimizing financial exposure. Candidates should bring over 10 years of experience in credit and collections, showcasing a track record of successful credit assessments and collections outcomes while fostering strong client relationships.

Key Responsibilities

• Credit Management:
  • Lead comprehensive credit evaluations, recommend credit limits, and monitor account risks.
  • Assess creditworthiness through analysis of financial statements, trade references, and payment histories.
  • Develop and uphold credit policies that align with organizational goals and risk thresholds.
  • Collaborate with sales and operations to ensure proper customer vetting and adherence to credit terms.
  • Regularly review and adjust credit limits based on performance metrics and market changes.
• Collections Oversight:
  • Oversee the collections process to secure timely payments across all accounts.
  • Implement proactive strategies to reduce overdue balances and Days Sales Outstanding (DSO).
  • Engage with clients professionally to resolve disputes and negotiate payment plans.
  • Collaborate with the accounts receivable team to ensure accurate account reconciliation.
  • Escalate high-risk accounts for legal actions when necessary.
• Reporting and Analytics:
  • Generate and analyze reports on accounts receivable aging, collection effectiveness, and cash flow.
  • Report key metrics to senior leadership, identifying trends for process improvements.
  • Maintain detailed records of credit decisions and collection activities in accounting and CRM systems.
• Cross-Functional Collaboration:
  • Work with Billing, AR, and Project Management teams to address invoice and payment discrepancies.
  • Partner with Finance for cash flow forecasting and risk identification.
  • Support audits and ensure compliance with internal and external financial regulations.

Skills & Qualifications

• Over 10 years of experience in credit analysis, collections management, or related AR leadership roles.
• Strong financial acumen with proficiency in analyzing balance sheets, income statements, and credit reports.
• Expertise in Sage accounting software is required.
• Familiarity with construction industry billing processes and lien laws is highly preferred.
• Proven negotiation skills with the ability to maintain professionalism during financial discussions.
• Exceptional organizational, analytical, and communication skills.
• Bachelor’s degree in Accounting, Finance, or Business is preferred.

Performance Indicators

• Reduction in Days Sales Outstanding (DSO) and delinquent accounts.
• Enhanced cash flow and collection efficiency.
• Accuracy and timeliness in credit decision-making.
• Strong client relationships while safeguarding company assets.

Location

This position is based in Newark.