.Job Summary:
The Senior Credit and Collections Specialist is responsible for overseeing the organization's credit policies and managing the collection of outstanding customer accounts, with a strong emphasis on managing lien releases and waivers. This role involves evaluating credit risk, establishing credit limits, developing collection strategies, and ensuring compliance with company policies and legal regulations. The ideal candidate will have expertise in construction or related industries where lien management is critical, combined with strong analytical, communication, and leadership skills to effectively manage the credit and collections functions of the organization.
Key Responsibilities:
- Credit Management:
- Evaluate creditworthiness of new and existing customers.
- Establish and manage credit limits and terms.
- Develop and implement credit policies and procedures.
- Monitor credit exposure and assess risk regularly.
- Manage setup and maintenance of both customers and vendors in various ERP systems.
- Collections Management:
- Develop and execute effective collection strategies.
- Oversee the collection of outstanding accounts and follow up on overdue payments.
- Resolve billing and customer credit issues.
- Negotiate payment arrangements and settlements when necessary.
- Lien Releases & Waivers:
- Manage lien rights and ensure compliance with state-specific lien laws.
- Prepare and process lien releases and waivers, including conditional and unconditional releases.
- Utilize lien management software such as LienWaiver.io, Levelset, or Textura to streamline processes.
- Work closely with project managers and legal teams to secure payments and maintain lien rights.
- Monitor deadlines for lien filings and manage all related documentation.
- Reporting & Analysis:
- Prepare regular reports on accounts receivable status, aging, and collection performance.
- Analyze collection trends and recommend process improvements.
- Provide insights and forecasts to senior management.
- Cash Receipts Posting & Application:
- Assist with the accurate and timely posting of cash receipts.
- Apply payments to customer accounts in the accounting system.
- Reconcile payments against invoices and resolve discrepancies.
- Collaborate with the accounting team to ensure the integrity of financial records.
- Compliance & Risk Management:
- Ensure compliance with company policies, industry regulations, and legal requirements.
- Maintain proper documentation of credit and collection activities.
- Collaborate with legal and finance teams on high-risk accounts.
Qualifications:
- Bachelor’s degree in Finance, Accounting, Business Administration, or a related field.
- 5+ years of experience in credit and collections management, preferably in construction or industries where lien management is critical.
- Strong knowledge of lien laws, credit management principles, practices, and regulations.
- Proficiency in financial analysis, reporting, and accounting software (e.g., Microsoft Dynamics, Oracle, QuickBooks).
- Familiarity with lien management tools such as LienWaiver.io, Levelset, Textura, or similar platforms.
- Excellent negotiation, communication, and problem-solving skills.
- Ability to lead and motivate a team effectively.
Preferred Skills:
- Certification in Credit Management (e.g., CBA, CBF, CCE) is a plus.
- Experience with ERP systems and advanced proficiency in Excel.
Pay Range: $75,000 - $95,000/year
