Credit Analyst
About the role
As a Credit Analyst at Millennium, you will be responsible for reviewing and maintaining an assigned portfolio of accounts to ensure accounts receivable aging remains within established goals. This role involves reviewing new customer orders to verify that all credit requirements are met prior to order release, collaborating with customers and internal stakeholders to resolve issues related to orders on hold, and reviewing new lease and credit applications to ensure all required information is obtained.
Responsibilities
- Review new customer orders to ensure established credit requirements are met prior to order release.
- Review credit and lease applications to evaluate completeness and obtain all required documentation for credit decisioning.
- Review executed rental and lease agreements to verify contractual terms, payment authorizations, and supporting documentation are complete, accurate, and compliant with company requirements before the company accepts and executes the agreement.
- Analyze customer financial information, credit reports, and payment history to assess credit risk and recommend appropriate credit limits and payment terms.
- Recommend changes to credit limits and payment terms based on customer payment performance, financial condition, and established credit policies.
- Take ownership of an assigned customer portfolio by monitoring account activity and following up on past due balances through professional written and verbal communication.
- Work with customers and internal departments to resolve invoice disputes, billing discrepancies, and other issues impacting timely payment.
- Provide regular updates to Credit, Sales, Operations, and other internal stakeholders regarding outstanding balances, account status, and issues affecting the order-to-cash process.
- Maintain accurate customer account records, including collection documentation, payment arrangements, and collection activity in accordance with company policies.
- Perform account reconciliations and resolve open disputes, unapplied cash, credit balances, deductions, and other account discrepancies to ensure accurate account maintenance.
- Recommend delinquent accounts for legal collection action when appropriate and compile the required documentation for referral to a collection attorney.
- Maintain compliance with company policies, internal controls, and applicable legal and regulatory requirements related to credit and collections.
- Establish and maintain customer master data, including credit terms, billing information, and account setup.
- Monitor customer payment trends and aging reports to identify emerging credit risks and recommend proactive actions.
- Participate in continuous improvement initiatives to enhance credit, collections, and order-to-cash processes.
Requirements
Associates degree in Finance, Accounting, or related field preferred. Five or more years experience in a credit role. Clear and effective communication and collaboration skills, both written and verbal, is needed to present findings and recommendations to stakeholders. Strong analytical and critical thinking skills to understand financial principles, financial statement and ratio analysis, assess credit risk, and make informed decisions. Attention to detail and ability to identify and resolve complex issues.
Qualifications
Associates degree in Finance, Accounting, or related field preferred. Five or more years experience in a credit role. Clear and effective communication and collaboration skills, both written and verbal, is needed to present findings and recommendations to stakeholders. Strong analytical and critical thinking skills to understand financial principles, financial statement and ratio analysis, assess credit risk, and make informed decisions. Attention to detail and ability to identify and resolve complex issues.
Skills
- Strong analytical and critical thinking skills
- Attention to detail
- Effective communication and collaboration skills
- Financial principles, financial statement and ratio analysis
- Auditing and assessing credit risk
- Understanding of credit policies and guidelines
- Ability to identify and resolve complex issues
Benefits
Competitive Benefits Package
Investment in your Community and Personal Development
4 hours of community service time per month
4 hours of personal development time per month
Pay
Competitive compensation package
Schedule
Full-time position
Benefits
Competitive benefits package
Investment in your Community and Personal Development
4 hours of community service time per month
4 hours of personal development time per month