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Director of Credit & Collections

Confidential • Full-time • Greater Toronto Area, ON, CA • 1d ago

We’re seeking a Director of Credit & Collections to join their finance department

Responsibilities:

Oversee the credit and collections team, providing guidance, training, and performance evaluations.
Develop and implement strategic plans to improve the efficiency and effectiveness of the credit and collections processes.
Lead a team of collections specialists, offering guidance and support.
Establish credit policies and procedures to mitigate risk and ensure compliance with company standards.
Evaluate and approve credit limits for new and existing customers based on financial analysis and creditworthiness.
Supervise the entire accounts receivable and collections process, including reconciling customer accounts.
Formulate and execute effective collection strategies to reduce outstanding balances and enhance team efficiency.
Monitor accounts receivable and ensure timely collection of outstanding invoices.
Review aging reports and proactively manage delinquent accounts.
Develop and implement strategies to reduce delinquency rates and improve cash flow.
Maintain strong relationships with key customers to facilitate smooth credit and collections processes.
Address and resolve customer disputes and issues in a timely and professional manner.
Work with cross-functional teams to resolve customer disputes and payment issues.
Prepare regular reports on credit and collections performance for senior management
Analyze data to identify trends and areas for improvement.
Identify and mitigate potential risks related to credit and collections.
Keep accurate records and ensure adherence to company policies and regulations
Manage the AR processing and system upload file, coordinating with program managers and following up on outstanding amounts owed.
Utilize third-party customer portals for invoice submission and processing.
Coordinate with the Accounting team to ensure proper procedures are followed when applying customer payments, ensuring accounts are accurate and current

Qualifications:

Bachelor’s degree in finance, Accounting, Business Administration, or a related field. MBA or relevant certification (e.g., CPA, CFA) preferred.
Minimum of 7-10 years of experience in credit and collections, with at least 5 years in a managerial role
Strong analytical and problem-solving skills.
Excellent communication and interpersonal skills
Proven ability to lead and motivate a team
Proficiency in financial software and Microsoft Office Suite.
Expertise in financial software and advanced proficiency in Microsoft Excel.
Strong communication and negotiation skills
Ability to self-manage according to established procedures, including conducting regular performance reviews and completing annual goal plans
Experience with third-party customer portals for invoice processing.
Dedication to continuous professional development.
Required experience in the construction industry, including familiarity with progress billing.
Curious and problem-solving mindset, with a passion for identifying and implementing process improvements