Junior Credit and Underwriting Analyst

at  OSL Retail Services Inc

Overview:
It’s an exciting time to be at OSL Retail Services, working for a people focused company that’s at the top of its game. The momentum we’ve generated in recent years with our commitments to client customers, innovation, business results, and an entrepreneurial spirit has created energy, enthusiasm, and engagement among our employees that is pushing us to new heights. And we’re on the lookout for talented people who share our vision and values and want to join us in this journey.

THE POSITION:

We are currently seeking a Junior Credit and Underwriting Analyst. The analyst is responsible for the collection of accounts receivable for a portfolio of customers. Strive to minimize Days Sales Outstanding, bad debt write-offs and maximize cash receipts while being sensitive to the needs and requirements of internal and external customers.
The incumbent will oversee the assessment of customers’ credit worthiness, credit lines management and maintain credit line exposure. Assist with the upload of customers yearly financial results with primary focus on year over year results comparison. Monitoring customer’s payment activities and financial statement results in minimizing financial risks, bad debt exposure and protect company assets while facilitating the growth of the business.

KNOWLEDGE:

• Knowledge with financial analysis, credit risk and accounting principles
• Knowledge of credit risk and assessing credit bureaus reports
• Strong interpersonal skills, able to interact with irate customers and keep the highest level of customer service skills
• Excellent written and oral communication with strong negotiation skills
• Must be capable of planning, organizing and prioritizing multiple and simultaneous tasks
• Proficiency in MS word, Excel, Outlook, and SAP

WHAT WE OFFER:

• A competitive base salary of $68-73K plus bonus
• Vacation plus additional flex days
• Comprehensive benefits
• Training and development opportunities to grow your career with one of Canada’s Best Managed Companies
• A supportive workplace culture and work environment
  If this sounds like you and you’re excited to be a member of our team, please apply now.
  We thank all interested applicants; however, only qualified candidates will be contacted. This position requires the successful completion of a criminal background check.
  Disclaimer: The preceding job description has been designed to indicate the general nature and level of work performed by employees within this job. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.
  OSL is committed to an inclusive workplace that does not discriminate against race, nationality, religion, age, marital status, physical or mental disability, sexual orientation, gender, or gender identity. We believe in diversity and encourage any qualified individual to apply

UNDERWRITING TASKS:

• Monitor customer compliance with company credit terms and approved lines of credit
• Review existing customer payment performance to determine the degree of risk exposure and current credit trends
• Review and update existing credit lines annually or as needed and gather financial information from internal/external sources (payment records, DNB, suppliers reference, quarterly financial disclosure) to determine customer’s credit worthiness
• Request customer’s updated financial statement when applicable and assist in entering customer’s financial information (Balance Sheet, Income Statement and Cash Flow, litigations, Shareholders) for the customers both quarterly and annually
• Interpreting Customer Financial Statements with ability to analyze ratios and comparing year-over-year results
• Monitor daily updates/downgrades of customer’s rating and make necessary actions to remedy the negative outputs.
• Communicating with credit management and sales team detected areas of customer’s weakness or strength to control credit risk and minimize companies’ bad debt exposure
• Recommend Credit lines and Checking rules changes with necessary backup
• Validate orders Held in Credit for releases or continue holding and communicate status to credit management and sales representative
• Assist the Manager or Senior team members with any special customs project as required
• Downloading invoice data from system
• Processing of invoices and any other ad hoc invoice received
• Record retention filing system and maintenance of documents

COLLECTIONS TASKS:

• Manage the collection and reconciliation of a set portfolio and meeting companies and credit department assigned KPI’s including assigned DSO, % of overdue AR
• Review with legal counsel, Sales Managers and Credit management all negotiated contracts for information pertinent to account set up, payment terms, sales programs method of payout and collections
• Prepare cash forecasting, collect accounts receivable for assigned region and submit statements to customers which impact cash management
• Call on accounts with past due balances and solicit help from Credit Manager and Sales force if required on delinquent or disputed items
• Negotiate deposits or accelerated additional payment when needed to meet sales requirements
• Audit daily cash receipts to the aged trial balance to maintain accuracy of customer accounts
• Audit deductions and payment shortages
• Investigate un-allowed deductions and follow up on paybacks
• Validate customers’ request for pricing credits and gather necessary documentation for sales management approval/decline and process owed credits
• Coordinate with other departments to ensure customers’ credit memo requests are reviewed for processing or decline
• Ensure final decision is communicated properly to the customers to minimize deductions on AR
• Maintain accurate and complete records of collection activities and link all correspondence to pending line items
• Support the dispute resolution process as required including gathering of relevant dispute information and collecting all rejected claims which are assigned for paybacks by customer
• Validate Major Accounts Post Audit claims requests in a timely manner and proceeds with credit issuance or communicates to customers the reason for decline with supportive documentation before the expiring date of rejection
• Responsible for the completion of reporting for abnormal AR clearing report, freight, handling charges, non-compliance, taxes