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Recours Four Kenya Consultants Limited   |   Nairobi, Kenya   |   Log in or register to see the closing date

Credit Manager

  • Bachelor's degree
  • Accounting, finance, banking, insurance
  • Manager (team leader)
  • Full Time
  • Permanent
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Job Summary

Our client is an SME based in Nairobi and in business of imports and distribution of pesticides to farmers and farms in Kenya. They seek a Credit Manager to join their team.


Primary purpose of the Job

  • Day-to-day implementation and oversight of the Company’s credit policies.
  • Supervising debt controllers and (when applicable) third party debt collectors.
  • Ensuring that controls over the debtors’ book are adequate, are being observed and overdue debt is kept at an absolute minimum.

Management Tools (Working tools)
  1. Credit policy and procedures.
  2. The Sale of Goods Act, VAT Act and various amendments.
  3. International Accounting Standards.
Applicants can send their CV and state the position applied for in their subject of the email. Kindly do not apply if you do not meet minimum requirements.


Responsibilities

Credit Control Procedures

  1. Contribute in design and implementation of an elaborate company credit control policy.
  2. Review the company Credit procedures and develop and implement enhancement where required.
  3. In conjunction with Sales /Departmental Manager and the FM design appropriate credit limit for each customer.
  4. Manage the outstanding sales balances by designing and implementing an appropriate means of collections while ensuring the Direct Debit Payment System among clients is appropriately monitored and documented.
  5. Ensure credit limits are adhered to and discounts given per regulations existing at the time.
Debtors Records/ Information
  1. Ensuring that master file data relating to credit management in the accounts receivable ledger is accurate and up-to date at all times.
  2. Reconcile transactions and balances on a monthly basis to ensure accurate debtor accounts.
  3. Ensure that payments are correctly allocated, to the appropriate account and against the appropriate invoice(s).
  4. Ensure set procedures and control of invoices, credit notes etc. are followed.
  5. Be the custodian of the company debtors’ record for the overall debtors’ asset portfolio.
  6. Maintain accurate and up to date clients’ accounts records by setting up and maintaining client files.
  7. Obtain and maintain sufficient information to assess the credit worthiness of new and existing clients.
  8. Assist in generation of legal documents for use in the credit function.
  9. Ensuring statements are sent to customers by first day of every month (hence need to constantly collect and update customers’ contact address).
Reporting
  1. Prepare weekly age analysis for Ledger account balances.
  2. Ensure annual confirmation of balances for accounts are properly prepared and mailed to customers within the required time.
  3. Monitoring Key Performance Indicators and reporting to management.
  4. Convening monthly meetings of the Credit Committee. Acts as secretary to the committee.
  5. Ensure that report on evaluation of monthly collection target by Company clients and field sales team is ready by first Monday of the month.
  6. Prepare monthly collection forecasts and aged debt analyses to be presented to Director by last day of the month.
  7. Report on monthly collection target to be circulated to office and sales team by first Monday of the month.
Debt Management
  1. Proactively follows up payment of outstanding invoices and ensuring credit allocated to customers is monitored and controlled effectively.
  2. Optimizing cash flow by reducing debtor days in line with the Company’s policies and procedures.
  3. Prepare monthly collection target for Company clients and Field Sales Staff and ensure that targets are achieved at all times.
  4. Handle any disputed accounts to ensure that payments are in line with company credit policy.
  5. Investigating and resolving queries on customer accounts, while liaising with the sales, customer service and operations teams.
  6. Initiate and enforce ‘Stop Supply Orders’ to overdue accounts.
  7. Negotiate payment schedule with bad debtors, clients in financial difficulties or arrange for goods possession or re-possession to cover for the outstanding debt.
  8. Handle any disputed accounts to ensure that payments are in line with company credit policy.
Bad Debt
  1. Recommending/Justifying debt write-offs for management consideration.
  2. Identify bad debt accounts requiring assistance of collection agency or legal action and co-ordinate collections with the third party contractors.
General responsibilities
  1. Administration and housekeeping over debtors and debtor processes (e.g. attending to routine correspondence under supervision of the Managing Director, maintenance of correspondence files, etc).
  2. Ensuring there is no relapse on order-to-cash (OTC) audit findings.
  3. Other accounting duties and responsibilities as may be legitimately assigned to the employee’s role.
  4. Submission of reports and reconciliations as will from time to time be laid out on the Finance Department’s month end checklist(s).
  5. Keep the company up to date with new credit management procedures and techniques.


General Information

Salary rangeNot specified
Additional informationNot specified
Contract type: Permanent
Job type: Full Time
Location: Nairobi
Area of work: Accounting, finance, banking, insurance
Seniority: Manager (team leader)

Job Requirements

Required education: Bachelor's degree
Required relevant work experience: 3 years
Required skills: Accounting; Credit handling; Account management; Financial analytics and forecasting; Financial controlling; Credit auditing
Required languages: English (Spoken: fluent | Written: fluent)

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