Credit & Collection Officer - Jeddah📣 Job Ad

About the Role

Trane Technologies, a global leader in climate solutions, is seeking a dedicated Credit & Collection Officer to join its team in Jeddah, Saudi Arabia. This role is essential for managing the Accounts Receivable portfolio for Trane Technologies' operations across the Middle East & Africa, with a specific focus on Trane Saudi Arabia's sales and Trade Finance activities. The primary objective is to minimize credit risk and maximize cash performance through effective credit and collection strategies. This is an on-site, full-time position.

Key Responsibilities

• Gather information for credit assessment and approval of payment terms, supporting the regional manager in credit risk and cash flow decisions.
• Conduct credit assessments for new and existing customers and approve credit limits within assigned Limits of Authority.
• Provide timely credit checking information and manage order holds and releases, notifying management of significant issues impacting receivable collection.
• Manage accounts receivable collection and maintenance, with a focus on Trade Finance requirements, including reviewing payment instruments like Letters of Credit and Promissory Notes, monitoring and escalating discrepancies, and preparing Trade Finance reports.
• Follow and optimize the collection protocol for the assigned portfolio, including sending monthly statements, pre-calling customers, registering promises to pay, following up on tasks, sending dunning letters, arranging customer visits, and escalating issues to management and the commercial team.
• Ensure funds are correctly applied to customer accounts and invoices, minimizing unapplied cash, and supporting the cash application team.
• Prepare reports according to a monthly schedule and on an ad hoc basis for credit and financial functions.
• Expedite the resolution of customer disputes and queries by liaising with Sales, Order Management, and Warranty departments.
• Inform management regarding the effectiveness of strategies for various accounts.
• Promote a culture of continuous process improvement and collaborate actively with internal stakeholders.
• Support the Credit Centre of Excellence for major credit reviews when required.
• Ensure compliance with Corporate and Local credit policies and other compliance requirements such as Trade Compliance and Sarbanes-Oxley.

Qualifications and Requirements

• University Degree in Business, Finance, Accounting, or a similar field.
• Minimum of 3 years of experience in a Credit & Collection role or a similar position.
• Hands-on work experience in credit and collection, preferably with experience from a manufacturing, contracting, or construction background.
• Experience working with Letters of Credit and Promissory Notes.
• Saudi National is a mandatory requirement for this position.

Required Skills

• Proficiency in Credit & Collection, Accounts Receivable management, and Credit Risk Management.
• Experience in Credit Investigation & Assessment, Credit Hold Management, and Order Release processes.
• Skilled in Collections Follow-up & Escalation, Query & Dispute Resolution, and conducting Customer Visits.
• Ability to manage Escalation to Collection Agencies and liaison with Commercial, Finance & Reporting Teams.
• Strong understanding of Compliance Activities, including Trade Finance, Letters of Credit, Promissory Notes, Payment Instruments, and Risk Discrepancies.
• Experience in preparing Trade Finance Reporting and optimizing Collection Protocols, including sending Dunning Letters.
• Proficiency in Cash Application and Reporting.
• Experience in liaising with Sales/Order Management/Warranty teams and supporting Process Improvement initiatives.
• Ability to support the Credit Centre of Excellence and ensure compliance with Corporate and Local Credit Policies, Trade Compliance, and Sarbanes-Oxley regulations.
• Solid understanding of Financial Analysis and strong Reconciliations skills.
• Excellent proficiency in Microsoft Excel and Microsoft Outlook, along with general MS Office Skills.
• Good ERP knowledge.
• Strong Communication (Verbal/Written) and Negotiation Skills, with the confidence to address genuine disputes.

Work Environment

This is a full-time, on-site position based in Jeddah, Makkah, Saudi Arabia. The role requires 2-5 years of experience. Work is conducted 5 days per week.