Credit Manager

Job Overview

Credit Manager

Reports To: Chief Financial Officer Employment Type: Full-Time

Position Summary

We are seeking an experienced Credit Manager to oversee the company's customer credit and accounts receivable functions. This position will be responsible for evaluating new and existing customers, establishing appropriate credit limits and payment terms, managing collections, and minimizing the company's exposure to credit losses.

The ideal candidate will have experience in the building materials, construction, distribution, or related industries and understand the unique credit risks associated with contractors, builders, subcontractors, developers, and construction projects.

This is a hands-on position that requires strong judgment, attention to detail, excellent communication skills, and the ability to work closely with Sales, Operations, Accounting, and senior management.

Key Responsibilities

Credit Management

• Evaluate credit applications for new customers and make recommendations regarding credit limits, payment terms, and account requirements.
• Review financial statements, credit reports, trade references, bank information, payment history, and other available credit information.
• Establish and maintain appropriate credit limits based on customer financial strength and purchasing activity.
• Conduct periodic credit reviews of existing customers and adjust credit limits and terms as appropriate.
• Monitor customer accounts for changes in financial condition, payment patterns, ownership, or other indicators of increased credit risk.
• Establish appropriate controls for customers with elevated credit risk, including deposits, personal/corporate guarantees, reduced credit limits, COD terms, or other security.
• Maintain accurate and well-documented customer credit files.

Accounts Receivable & Collections

• Monitor the company's accounts receivable portfolio and aging on a daily and weekly basis.
• Maintain, monitor and provide continuous improvements to the on-line portal for customers
• Develop and execute collection strategies for past-due accounts.
• Contact customers regarding outstanding invoices and negotiate payment arrangements when appropriate.
• Work closely with Sales and Branch Managers to resolve disputed invoices and collect past-due balances.
• Escalate significant or high-risk accounts to senior management.
• Monitor unapplied cash, deductions, credits, and other issues affecting customer balances.
• Track and report DSO, aging, past-due balances, bad debt exposure, and collection performance.
• Recommend accounts for collection agencies, legal action, or write-off when appropriate.

Construction Credit & Lien Management

• Understand and administer credit procedures applicable to construction customers.
• Monitor mechanic's lien, notice, and payment-bond requirements where applicable.
• Ensure required preliminary notices, notices of contract, notices of intent, or other documentation are completed and maintained within applicable deadlines.
• Maintain accurate project information, including general contractor, subcontractor, owner, project location, and payment information.
• Monitor customer and project exposure when multiple jobs are being purchased under the same account.
• Assist in protecting the company's lien and bond rights on delinquent construction accounts.
• Coordinate with outside counsel or collection professionals when legal action becomes necessary.

Risk Management

• Identify customers and projects presenting elevated credit risk.
• Monitor customers with rapidly increasing purchases, deteriorating payment patterns, returned checks, legal issues, liens, bankruptcies, or other warning signs.
• Establish exposure limits by customer and, where appropriate, by project.
• Review large or unusual credit requests and provide recommendations to management.
• Maintain a watch list of high-risk accounts and communicate material changes to management.
• Assist in establishing and maintaining the company's written credit policy.

Cross-Functional Responsibilities

• Partner closely with Sales to balance customer service and sales growth with appropriate credit discipline.
• Work with Branch Managers and Sales Representatives to resolve account issues.
• Collaborate with Accounting on billing, cash application, reconciliations, and account discrepancies.
• Provide management with regular reporting on credit exposure, collections, and accounts receivable performance.
• Train sales and branch personnel on credit policies, payment terms, account requirements, and collection procedures.
• Help establish a company-wide culture of profitable sales and disciplined credit management.

Qualifications

• 5+ years of experience in credit, collections, accounts receivable, or commercial finance.
• Experience in building materials, construction supply, wholesale distribution, or a related industry strongly preferred.
• Strong understanding of commercial credit evaluation and collection practices.
• Experience reviewing financial statements and assessing customer creditworthiness.
• Familiarity with construction payment practices and mechanic's lien requirements preferred.
• Strong analytical and problem-solving skills.
• Excellent verbal and written communication skills.
• Ability to have difficult conversations with customers while maintaining strong business relationships.
• Strong organizational skills and attention to detail.
• Proficiency with Microsoft Excel and ERP/accounting systems.
• Ability to work independently and exercise sound business judgment.

Preferred Experience

• Commercial credit management
• Construction or building-materials distribution
• Contractor/developer credit analysis
• Mechanic's lien and payment-bond procedures
• Credit reporting agencies and trade references
• Customer financial statement analysis
• Collections and legal collections
• ERP systems and automated credit/AR reporting
• Establishing credit policies and procedures

Pay: $50,000.00 - $75,000.00 per year

Benefits:

• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Retirement plan
• Vision insurance

Work Location: In person