Coordinator, Credit & Collection📣 Job Ad

About the Role

The Olayan Group's General Trading Company (GTC) is seeking a meticulous and detail-oriented Credit & Collections Coordinator to join their team in Riyadh, Saudi Arabia. This role is vital in supporting the credit control function by ensuring accurate and timely application of customer collections, diligent monitoring of customer accounts, and effective management of balance confirmations. This position primarily contributes to the preparation of necessary financial provisions and assists in optimizing collection performance, aiming to mitigate credit risk and enhance the company's cash flow through the maintenance of accurate financial records.

Key Responsibilities

• Accurately and promptly apply customer collections and payments within the ISELL system.
• Monitor daily collection activities and proactively follow up with sales representatives to ensure timely remittances.
• Escalate any collection delays or cash handling exceptions to the relevant management for necessary action.
• Review daily bank transactions to identify and reconcile any unallocated receipts, ensuring proper allocation.
• Reconcile customer open items and perform regular account reconciliations to maintain accuracy.
• Prepare customer balance confirmations and diligently follow up to achieve set targets.
• Calculate and prepare monthly Expected Credit Loss (ECL) provisions and support efforts to minimize these provisions.
• Contribute to the improvement of Days Sales Outstanding (DSO) through effective collection follow-up strategies.
• Actively participate in weekly collection review meetings, providing insights and updates.
• Process credit notes (DN), journal entries, and other necessary adjustments in a timely manner.
• Effectively coordinate with sales teams regarding collection status and confirmation processes.
• Communicate directly with customers to resolve any discrepancies identified during reconciliation processes.
• Work collaboratively with accounting, finance, and credit control teams to ensure smooth operations.
• Support internal and external audit requirements by providing necessary documentation and information.
• Prepare daily collection reports to track performance and identify trends.
• Generate monthly reports for Expected Credit Loss (ECL) provisions for management review.
• Track and report on Days Sales Outstanding (DSO) performance metrics.
• Monitor the progress of balance confirmation activities.
• Prepare collection review reports and maintain action trackers for items requiring follow-up.
• Perform additional duties as assigned by management to support departmental objectives.

Qualifications and Requirements

• A Bachelor's degree in Finance and Accounting is required.
• A minimum of 1 to 2 years of experience in credit control, accounts receivable, or collections is essential.
• Experience in a distribution environment is preferred.

Required Skills

• Proficiency in credit control principles and practices.
• Strong understanding of accounts receivable processes.
• Experience in collections operations.
• Ability to maintain accurate financial records.
• Skill in performing reconciliations.
• Competence in report generation and analysis.

Job Details

This is a full-time position based in Riyadh, Saudi Arabia. The role requires 0-1 years of experience and presents an opportunity for career development within a reputable organization in the Saudi market.