Position Summary:
Performs all accounting tasks under Account Receivable and responsible for credit control functions with the business. A key component of the role is to monitor and follow up on overdue payments, liaising with the sales teams and follow up on trade references on credit worthiness of new customers, deliver effective and efficient Credit Control, Collection and Risk Management. Duties also include tasks such as bank reconciliation, checking account receivable, debtor aging and closing activity. Ensure proper treatment for recording such as cash in advance and cheque as well as investigate and follow up on unidentified customer payments resolution.
Part of the role also involves identifying and implementing continuous improvement initiatives to drive process efficiency and effectiveness in part of the OTC area. In this context, OTC processes consist of Incoming Cash forecasting and Cash Collection, Cash Applications, Accounts Receivable reporting, Balance Sheet accounts reconciliations related to AR Managed transactions.
Roles & Responsibilities
Account Receivables, Collections and Financial Management
- Responsible in monitoring of assigned accounts receivables and follow up for payments to ensure all payment are received within the credit term period.
- Conduct regular meetings with the Sales team to update and address any payment issues.
- Working closely with sales and operations departments to resolves payment disputes by gathering facts internally. And thereafter, communicate with customer to achieve resolution for final settlement of payment overdue.
- Liaise with customer regarding the collection of payment and negotiate with them to expedite the outstanding process through regular and scheduled contact via call, email, and letter.
- Prepare AR aging reports, and update collection status by monitoring customer account details for non-payments, delayed and other irregularities.
- Review bank statements and perform monthly bank reconciliations.
- Ensure month-end closing on Account Receivable are as schedule.
- To monitor compliance of credit policy and to alert and remind client for exceeding of credit limits, terms and notify total outstanding owing by customers by promptly issuance of monthly statements and payment request.
- Prepare AR weekly cashflow forecast, monthly sales commission report and any paperwork relating to debt issues.
- Perform daily closing.
- Assist/support in any matters related/ad-hoc to accounting including daily operation, finalization of the reports and statutory compliance etc., as when as required by superior or management.
Cash Application, Credit Control and Risk Management
- Post's customer payments by recording cash, checks, online payment transfer transactions in the Accounts Receivable module.
- Ensure that receipts are accurately accounted for, and promptly matched against accounts receivable balances, recorded correctly and in a timely manner.
- Prepare and follow up unidentified open items in clearing account when execute daily/weekly/monthly bank reconciliation.
- Perform credit management task by conducting credit block analysis on customer before release / blocking sales order.
- Reviews customers credit limit status and informs relevant departments following company policy.
- Credit management Perform and responsible for credit analysis on customer according to company credit policy and procedures.
- Reviewing credit risk for new application and existing customers by carrying out credit worthless checks and make credit limit recommendations, evaluate, and mitigate credit risks.
- Carry out the evaluation of new debtors applications and its supporting investigations.
- Make evaluation through phone with customer & all information that customer given, ensure all data is accurate and follow the guideline.
Transformation / Continuous Improvement Implementations
- Engage and support the teams in the implementation of continuous improvement project.
- Proactively to identify, recommend and implement solutions in consultation with the management for continuous improvement opportunities in the areas of operation.
- implement continuous improvement initiatives to streamline existing credit control processes and improve efficiencies through a better utilization of automated systems.
- Assist to ensure effective knowledge transfer as for sustainable development knowledge and sharing of best practices within the team.
Requirements :
- Bachelor's Degree in Accountancy/ ACCA
- Sense of urgency and responsibility
- Independent and able to work with minimal supervision
- Able to work under pressure in a fast-paced environment and always striving to meet deadlines.
- Minimum 3 years working experience
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