We are looking for a skilled Credit and Collections Analyst to join our Finance team. Duties include developing and implementing policies and procedures to evaluate customer financial strength, research credit worthiness, evaluate risk, and recommend credit lines. Administer the collections process to resolve client payment issues. Work to protect the financial assets of the organization. Develop strategies and goals to reduce exposure to write-offs. Work closely with sales and other departments... more details
Company DescriptionSimco-Ion has been in the static control business since 1936, and their longevity speaks to their success at improving safety, increasing efficiency, and lowering overall cost for customers. At the forefront of the static control industry for over 80 years, today Simco-Ion is a global enterprise with vast intellectual property and resources. When working at Simco-Ion, you will be empowered in an environment that encourages open communication and big ideas, competitive pay for your performance, comprehensive benefits, and opportunities to make an impact.ITW, a Fortune 200 company, is one of the world’s leading diversified manufacturers of specialized industrial equipment, consumables, and related service businesses. The company has prospered for over 100 years, changing the way people live and work all over the world. Each of ITW’s businesses has an independent entrepreneurial spirit and freedom to innovate. It is the highly talented people at ITW who drive success through new products and customer driven solutions.To learn more about the Simco-Ion and what we do, please visit our website at: https://www.simco-ion.com/industrial and our corporate website at: https://itw.com/Job DescriptionWe are looking for a skilled Credit and Collections Analyst to join our Finance team. Duties include developing and implementing policies and procedures to evaluate customer financial strength, research credit worthiness, evaluate risk, and recommend credit lines. Administer the collections process to resolve client payment issues. Work to protect the financial assets of the organization. Develop strategies and goals to reduce exposure to write-offs. Work closely with sales and other departments to communicate credit limits, provide support, resolve problems, and reconcile accounts. Recommend and implement credit extensions/revocations, and/or legal action where necessary. Perform reconciliation, credit adjustments, bad debt write-offs, refunds, customer notification, and other transactions or reports according to company policies and procedures. Generate financial statements and reports detailing accounts receivable status. Stay current on all applicable laws and maintain relationships with outside credit agencies. Review open accounts and reach out to clients with the goal of collecting customer payments while maintaining client relationships. Identify issues attributing to account delinquency and work with clients to set up acceptable payment arrangements. Streamline collection processes and recommend improvements. Ensure compliance with all applicable regulations regarding credit and collection processes. This role supports our finance roadmap with growth opportunities and efficiency.Essential Duties and ResponsibilitiesProcessing accounting receivables and incoming payments in compliance with financial policies and procedures.Performing day to day financial transactions, including verifying, classifying, computing, posting, and recording accounts receivables’ data.Raising credit notes along with a detailed schedule of causes.Following up on late payments.Processing, verifying, and posting receipts for goods sold or services rendered.Researching and resolving account discrepancies.Maintaining records regarding payments and account statuses.Reconcile the accounts receivable ledger to ensure that all payments are accounted for and properly posted.Reporting monthly sales data for sales tax support.Additional duties and projects as assigned.QualificationsRequires a minimum of a bachelor's degree (or international equivalent) in accounting, finance, or business administration and 2+ years of relevant experience. A solid understanding of basic accounting principles, fair credit practices and collection regulations is a must.Strong troubleshooting skills.Multitasking skills to assist multiple tasks at once.Customer service skills to interact professionally and positively with coworkers.Microsoft Office proficiency, skills with PowerPoint and Excel, required.Attention to detail with excellent communication skills.Ability to get along in a team environment.Ability to follow all safety policies and procedures.Positive attitude with a continuous improvement mindset.Additional InformationOur employees enjoy competitive, merit-based salary plus excellent benefits including:Health and dental insuranceCompany Paid Life Insurance / Short and Long Term Disability401K plan with generous company matchVacation, personal days and holidaysContinuing education reimbursement programFlexible spending accountsITW Company OverviewITW was built on innovation and the strength of new ideas. These values have helped us expand into multiple platforms in nearly 60 countries. But at each of our businesses, the independent entrepreneurial spirit and freedom to innovate remain strong. It’s the highly talented people at ITW businesses all over the world who drive our success through new products and customer driven solutions. Together, we are ITW—a Fortune 200 company that has prospered for 100 years, and changed the way people live and work, all over the world.ITW is an equal opportunity employer. We value our colleagues’ unique perspectives, experiences and ideas and create workplaces where everyone can develop their careers and perform to their full potential. As an equal employment opportunity employer, ITW is committed to equal employment opportunity and fair treatment for employees, beginning with the hiring process and continuing through all aspects of the employment relationship. All qualified applicants will receive consideration for employment without regard to race, color, sex, gender identity, sexual orientation, religion, national origin, age, disability, protected Veteran status or any other characteristic protected by applicable federal, state, or local laws.ITW is an equal opportunity employer. We value our colleagues’ unique perspectives, experiences and ideas and create workplaces where everyone can develop their careers and perform to their full potential. As an equal employment opportunity employer, ITW is committed to equal employment opportunity and fair treatment for employees, beginning with the hiring process and continuing through all aspects of the employment relationship. All qualified applicants will receive consideration for employment without regard to race, color, sex, gender identity, sexual orientation, religion, national origin, age, disability, protected Veteran status or any other characteristic protected by applicable federal, state, or local laws.
