We are UMG, the Universal Music Group. We are the world's leading music company. In everything we do, we are committed to artistry, innovation and entrepreneurship. We own and operate a broad array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content in more than 60 countries. We identify and develop recording artists and songwriters, and we produce, distribute and promote the most critically acclaimed and commercially successful music to delight and entertain fans around the world.
We are seeking a Credit Manager to direct all credit and collection activities of a designated major part of the credit organization in accordance with established policies, practices and procedure in a manner that will result in maximum sales, sound receivables and their prompt conversion to cash.
• Maintains responsibility for applying the company's credit policies, practices and procedures to the credit requirements of a designated number of customer accounts within specified dollar limits or normal credit lines
• Extends credit to customers in accordance with established company policy and terms
• Analyzes requests for credit in order to ascertain what information and security will be required to arrive at a sound decision
• Assigns subordinates to investigate and/or obtain data on present and prospective customers
• Reviews customer files and reports, analyze financial statements and supplementary information, and make any further investigation and contacts required, evaluate the credit risks, and approve or reject accounts. Also establishes credit lines for individual accounts and makes all credit arrangements
• Personally handles credit issues beyond subordinates' authority, major accounts requiring individual attention, marginal accounts, problem accounts, special credit arrangements and deviations from standards
• Handles non-routine credit inquires and correspondence
• Provide quarterly credit report to credit association group
• Provide information to allow Accounts Receivable Coordinators to apply cash
• Reconcile the digital accounts in SAP to the Digital Finance monthly reports in excel
• Review and approve customer orders in the order system based on the credit line and payment status
• Review and approve manual credit/debit adjustments to the customer account
• Complete transaction forms to transfer items from one general ledger to another
• Communicate with Freight Companies regarding Claim Filing
• Review and approve hourly time in PeopleSoft
• Other tasks as assigned
• Plans and maintains a program for systematic follow-up and collection of receivables. Reviews regularly the status of collections to assure that accounts receivable are in reasonable sound condition
• Checks monthly balances of customers and takes appropriate steps to prevent past-due accounts. Follows closely the course of aging accounts and determines action to be taken personally or by assistants on delinquent accounts
• Negotiates the acceptance of notes, compromise settlements, partial payments, time extensions, and the writing off of uncollectible accounts within approved authority levels
• Arranges for forced collections and the filing of suits or bankruptcy claims, and furnishes complete information to third-party representatives
• Represents the company at creditors' meetings and bankruptcy proceedings
• Supervises processes and procedures relating to the use of collateral, insurance claims, lien instruments, and the like
• Takes appropriate action on the collection irregularities (such as payment discrepancies and unearned discounts), adjustments (shipment errors, etc.), and customer complaints and inquires
• Supervises collection correspondence
• Carries out the established program for controlling the credit function
• Prepares and submits periodic operating reports to senior management on the status of receivables
• Appraise the results of direct reports; takes or recommends remedial action as required, and evaluates employee performance
• Trains the staff; interprets credit policy and gives instruction in credit communication to new employees
• Has full authority within approved policies, procedures, standards and defined limits on credit matters within the designated are of responsibility. Deviations are subject to approval by higher authority, but the credit manager's judgment frequently influences decisions
• Internal: Maintains staff and operational relationships on the supervisory and administrative levels with sales, purchasing, legal, advertising, personnel, and other departments concerned with company administration and credit and collection operations; coordinates the internal relationships of subordinates at appropriate levels
• External: Initiates, develops and maintains relationships with customers, financial institutions, credit sources, and the trade; maintains contacts in the designated area of activity. Regular visits to assigned major customers.
• Excellent communication skills (verbal and written)
• Quantitative financial skills
• Excellent analytical skills and knowledge of collections, credit, accounting and financial principles
• Thorough understanding of the credit process
• Proficient in MS Office, including strong Excel skills
• Strong leadership and management skills
• Detail oriented
• Ability to work successfully within time constraints and deadlines
• Thorough knowledge and understanding of UMG's policies, procedures, and corporate objectives.
• Minimum 5 years of credit/collection experience
• Minimum 2-3 years of credit management experience
• Bachelor's in Accounting or Finance
Universal Music Group is an Equal Opportunity Employer.
This job description only provides an overview of job responsibilities that are subject to change.