Asst. Manager, Credit & Collections, Accounting at Avnet

Bangalore, karnataka, India -

Full Time

Start Date

Immediate

Expiry Date

13 Jun, 26

Salary

0.0

Posted On

15 Mar, 26

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Credit Management, Collections, Accounts Receivable, Credit Risk Assessment, Policy Development, Financial Analysis, Invoice Dispute Resolution, Payment Solicitation, Credit Limit Negotiation, GST Compliance, HSN Classification, SAP, BI Tools, Team Supervision, Revenue Recognition, Risk Mitigation

Industry

electrical;Appliances;and Electronics Manufacturing

Description

Job Summary: Oversees the processing and verification of credit applications, overdue account payment solicitation, credit card payment processing and process improvement activities to minimize financial risk to the company. Provides oversight and direction regarding the assigned team, financial and operational activities. Principal Responsibilities: Manages a team responsible for researching and verifying credit data of customers to establish or update lines of credit. Develops, and implements credit & collection policies and processes. Assesses, recommends and/or approves credit limits. Oversees the investigation and resolution of customer invoice disputes to facilitate payment from or issuance of credit to customer. Responsible for team reviewing customer accounts for aging of unpaid balances and pending orders, soliciting payments on overdue accounts, placing delinquent accounts on ‘hold’ status until payment arrangements are secured or payment plans/schedules are determined. Manages the teams' solicitation of payments on overdue accounts and the follows up of payment arrangements and the transfer of outstanding customer accounts to collection agencies. Develops and maintains relationships with outside credit and/or collection agencies. Responsibility for the team maintaining of a variety of files and records associated with delinquent accounts, incomplete files and credit risks. Improves productivity through process improvement, policy/procedure development and systems refinement. Responsible for managing the negotiation of terms, credit structure, settlements, etc. Reviews and advises on credit and collections analyses/reports/presentations. Provides direction to internal Credit & Collections staff, external contractors, vendors and other third-party personnel. Other duties as assigned. Key Responsibilities Credit Control & AR Function Develop and implement credit policies and procedures Setting credit limits, establishing repayment conditions, and creating frameworks for credit application assessments. Assess and evaluate creditworthiness. Analyze financial statements, credit reports, and payment histories to determine the creditworthiness of potential customers and ensure alignment with the company's risk tolerance. Manage credit risk: Monitor accounts receivable, assess credit risks, and take actions to mitigate potential losses. Negotiate repayment terms and set credit limits: Determine appropriate credit terms and limits for customers based on their creditworthiness and the company's risk profile. Monitor repayment performance and manage collections: Track repayments plans, identify delinquent accounts, and implement collection strategies to ensure timely payments. Ensure compliance with legal and regulatory requirements: Stay informed about relevant laws and regulations and ensure compliance with all applicable rules. Supervise and train credit department staff: Manage a team of credit analysts, providing guidance, training, and performance feedback. Prepare reports and present findings to senior management: Provide regular updates on credit performance, risk assessments, and collection activities. Billing Function Revenue recognition: Adherence to the principles of revenue recognition as per Ind AS/ IFRS Invoicing: Ensuring accurate invoice generation for different types of customers with accurate GST rates Product Classification: Ensuring the maintenance and application of accurate HSN code and related duty structure. Compliance: Ensure adherence to Indian GST laws and regulations. Return Filing: Prepare and file GST returns accurately and on time. Record Keeping: Maintain accurate records of GST-related transactions. Audit Support: Prepare necessary documentation for GST audits. Required Skills and Qualification 3-5 years of work experience in credit management/ AR function Relevant professional degree for entry-level with certifications like CA/CWA/CS/CPA/CFA Ability to analyze financial data, identify trends, and make informed decisions. Ability to effectively communicate with customers, colleagues, and senior management Understanding of credit scoring models, risk assessment techniques, and relevant legal requirements. Thorough understanding of GST laws/rules/regulations, HSN Classification and Customs laws/rules & regulations. Proficiency in using software for credit analysis and reporting, SAP & BI Tools Job Level Specifications: Coordinates and supervises the daily activities of business or technical support teams comprised of individual contributors. Sets priorities for the team to ensure task completion. May coordinate work activities with other supervisors. Directs routine and repetitive operations of team. Assignments are largely established in accordance with schedules and deliverables. Decisions are guided by policies, procedures and business plans. Collaborates daily with direct reports and peers within similar functions primarily for the purpose of exchanging information. Decisions have a direct impact on team operations. Erroneous decisions or failure to achieve results may cause delays in schedules and require the allocation of additional time, people and/or financial resources. Work Experience: Typically 4+ years relevant work experience Education and Certification(s): 3-5 years of work experience in credit management / AR function Relevant professional degree in Accounting or Financial Management Accounting Certifications like CA/CWA/CS/CPA/CFA are strongly preferred Distinguishing Characteristics: The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills. As a leading global technology distributor and solutions provider, Avnet has served customers’ evolving needs for more than a century. Through regional and specialized businesses around the world, we support customers and suppliers at every stage of the product lifecycle. We help companies adapt to change and accelerate the design and supply stages of product development. With a unique viewpoint from the center of the technology value chain, Avnet is a trusted partner that solves complex design and supply chain issues so customers can realize revenue faster. Avnet companies: Avnet Abacus Avnet Embedded Solutions Avnet Integrated Solutions Avnet Silica EBV Elektronik element14 Farnell Hackster.io Newark Softweb Solutions Tria Witekio

Responsibilities

This role oversees the processing of credit applications, manages overdue account collections, and directs the assigned team's financial and operational activities to minimize company financial risk. Key duties include developing credit policies, assessing creditworthiness, managing collections strategies, and ensuring compliance with billing regulations.