Credit Manager

About the Role

Boutique Group is seeking a Credit Manager to join its team in Riyadh. This full-time role involves overseeing credit policies and procedures, managing customer creditworthiness, and ensuring efficient accounts receivable operations. The Credit Manager will report directly to the Director of Finance and will be responsible for the department's functions during their absence.

Key Responsibilities

• Adhere to Boutique Group's credit policies and assist in developing clear credit procedures for all departmental positions.
• Assess customer creditworthiness using various resources (*, DECOL Debt Collection Agency, banks, other establishments) and provide credit approval or disapproval recommendations to management.
• Maintain comprehensive records for each customer, including all credit research documentation.
• Update approved credit customers in Opera and ERP systems, and communicate defaulter names to other SBU Credit Managers and the Director of Finance.
• Establish and regularly review credit limits for both in-house guests and City Ledger balances.
• Distribute high balance reports to the Front Office, verify updated remarks, and follow up on discrepancies with the Front Office Manager.
• Ensure the General Manager and Director of Finance sign a hard copy of the high balance report twice weekly.
• Conduct bi-monthly credit meetings with the Director of Finance.
• Follow up on the collection of returned cheques, credit card chargebacks, and skipper accounts.
• Investigate disputed charges and address queries from City Ledger and credit card customers.
• Monitor AR staff to ensure detailed documentation of all collection efforts for future creditworthiness analysis and bad debt write-off support.
• Recommend the write-off of uncollectable debts after 6-12 months.
• Review and sign pro-forma invoices, distribute copies to relevant departments, and file copies. Ensure concerned departments follow up and are informed upon payment receipt.
• Reconcile accounts receivable trial balances with general ledger accounts monthly, ensuring accurate aging.
• Verify that all transfers to City Ledger via Night and Income Auditors align with the control account.
• Audit city ledger rebates and journals prepared by AR staff, forwarding them to the Financial Controller for review and signature before posting through ERP or Opera.
• Ensure AR staff confirms receipt of all daily City Ledger folios from the Front Office.
• Verify that all folio transfers are approved by Debtors and routed to the correct customer.
• Ensure the accuracy of all charges and credits posted to individual accounts.
• Ensure AR staff processes invoices/folios promptly and issues interim and monthly statements and follow-up letters in a timely manner.
• Ensure AR staff monitors and maintains supporting documents for all advance deposits.
• Respond to client queries promptly, professionally, and efficiently.
• Ensure AR staff verifies room rates charged to travel agents comply with contracts.
• Ensure group billings are completed according to contract terms.
• Initiate payment of travel agents' commissions based on verified computer reports.
• Update customer details and contact information as changes occur.
• Verify that bills include proper details such as authority letters, vouchers, or other supporting documents before dispatching to customers.
• Ensure AR staff maintains records including photocopies of invoices, supporting documents, statements, and filing.
• Deliver invoices to appropriate locations and confirm receipt by the concerned person.
• Prepare daily No Show / Cancellation and Early Departure reports and email them to the General Manager and relevant HODs.
• Monitor staff performance through yearly appraisals.
• Provide monthly reports of facts and figures to management.
• Uphold and embody the company’s legacy values and competencies in all interactions with teams and stakeholders, serving as a role model for the desired culture and behaviors.

Experience Required

• 3-5 years of relevant experience.

Internal Communications

• Management team and all colleagues within the hotel.
• Finance teams in other Strategic Business Units (SBUs).
• Group Finance & Regional Finance Teams.
• Internal Auditors.

External Communications

• Finance service providers.
• Hotel suppliers.
• Asset Managers.
• External Auditors.

Work Type and Location

This is a full-time position based in Riyadh.