Credit Specialist - Credit & Collections
Universal Music Group
Woodland Hills, CAThis was removed by the employer on 8/1/2017 3:21:00 PM PST
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Full Time Job
Description
The Credit Specialist will play a key role in determining new credit and extensions of credit on behalf of UMG.
The Credit Specialist manages a portfolio of accounts that may carry credit lines up to $ 5 M, practices and procedures in a manner that will result in maximum sales, sound receivables and the prompt conversion of receivables into cash with a minimum of past due accounts. The position will use discretion as it relates to being in accordance with established policies. The Credit Specialist is also responsible for creating, managing and maintaining relationships with not only the customers but also operating personnel within other UMG departments.
Responsibilities
• Manages account to ensure that it’s compliant to company’s credit and collection policies, practices and procedures to the credit requirements of a designated number of customer accounts within specified authority levels
• Oversees workflow and day to day credit activities for claims and cash people assigned to the Specialist’s portfolio of accounts
• Negotiates any settlement agreement on behalf of UMG on accounts within their portfolio
Extension of Credit
• Authorizes line of credit to customers assigned to their portfolio
• Evaluates requests for credit and oversees that due diligence is performed
• Interprets financial information, trade, bank, and credit reports. Determines if security [collateral] is needed to maximize sales potential while protecting accounts receivables and presents recommendations to management. Performs analysis on new and [periodically] on existing accounts
• Authorizes credit limit increases or decreases, credit holds, and settlement negotiations
• Oversees maintenance and updating of credit files, legal and government documents
Collections
• Manages and maintains account relationships that include meetings as needed with assigned accounts for collection purposes, reconciliation of customer’s accounts, security negotiations (collateral such as letter of credit, advance, guarantee), financial strength evaluation and customer relations. Authorizes and negotiates settlement, if warranted, on behalf of UMG.
• Ensures proper follow-up of delinquent accounts and manages team working on account follow-up with assigned cash and claims employees
• Oversees monitoring of account exposures and aging accounts and determines action to be taken on delinquent accounts, such as putting account on hold. The decision made by Specialist affects sales plan and account behavior.
• Analyzes trends of high risk accounts, negotiating additional security [collateral] and/or extended payment terms where necessary
• Works closely with other departments, particularly sales, advertising, customer service and logistics to resolve customer discrepancies
• Reconciles customer’s statements. Manages and resolves deductions and chargebacks
• Responsible for all credit activities for assigned accounts as it relates to company policy
Required Skills
/ Qualifications
• Ability to analyze and interpret financial statements
• Working knowledge of current credit market conditions
• Knowledge of UCC code
• Basic accounting knowledge
• Ability to interact with all levels of management
• Proficient in MS Office, including strong Excel skills
• Ability to develop customer rapport
• Strong negotiation skills
Experience
• 3-5 years of relevant experience in a similar role (i.e. Credit or Finance)
Education
Bachelor degree preferred
Universal Music Group is an Equal Opportunity Employer.
Disclaimer
This job description only provides an overview of job responsibilities that are subject to change.