Credit Director

At Springfield Electric, we take great pride in our associates’ passion, knowledge and experience. As a company with local roots and global reach, we thrive on the diversity of our associates and the different ways each of us contributes to our success. Whether you’re just starting your career or have built up your expertise over the years, we trust our people’s skills and give them the tools they need to reach their full potential.

Since 1929, Springfield Electric has focused on providing value to each customer throughout the electrical supply chain. The company has strategically expanded to include distribution centers throughout the Midwest, including Illinois, Indiana, Iowa, and Missouri, to better serve all customers locally and internationally. Today, Springfield Electric strives to continue the legacy of delivering exceptional customer service and value to the markets we serve.

As a part of Sonepar, a worldwide leader in electrical distribution, we have a global reach that allows us to offer excellent benefits and develop innovative solutions, while maintaining our strong local roots and close-knit culture. 

 

 

Position Title

Director, Credit

Classification

Regular, Full-Time

FLSA Status

Exempt

Reports To    

VP, Finance

Supervises

Credit Manager, Credit Analysts, Credit Specialists

 

Primary Function

The Director, Credit is responsible for guiding and directing the activities of the Operating Company’s (OpCo) credit and collections department. In addition to day-to-day accountability for the function, the Director, Credit will be an influencer in the evolution of the credit and collections department as it adapts to the continued growth of the OpCo.

 

Essential Functions

Task

 

• Direct all aspects of the OpCo’s credit function aimed at achieving superior A/R aging and DSO measurements.
• Perform short- and long-range strategic planning and priority setting for credit and collections department.
• Coordinate efforts between OpCo credit and collections team and supporting teams at shared services center.
• Build a culture of servant leadership, customer centricity, efficiency, and transparency.
• Deploy standard work and written process documentation across all positions in the department.
• Through hands-on effort, ensure that credit and collections team provide effective and timely support to sales organization, finance team, and customers.
• Negotiate the resolution of collection matters with customers, engaging 3rd party collection agencies and legal counsel as necessary.
• Continuously develop people, processes, and system improvements to position department to evolve as OpCo growth continues.
   
• Supervisory responsibility of the credit department, including but not limited to planning and coordinating the selection, training, evaluation, and assignment of department personnel to facilitate productive and efficient use of department resources. Recommend changes to department staffing based on changing needs.
• Serve as the Company expert in the application of credit and collection laws and regulations. Advise branch and corporate management on actions needed to limit credit risk and make prudent credit decisions.
• Produce and discuss monthly accounts receivable status reports with credit committee.
• Produce and review monthly reports of customers with balances in excess of $50,000.
• Monitor the reserve for doubtful accounts using the accounts receivable aging reports and makes recommendations for changes.
• Cooperate with accounting department in periodic state sales tax audits.
• Assist in the preparation of monthly financial reports in collaboration with the Vice-President of Finance and Controller. These reports include sales reports, commission reports, and operating reports by business unit.
• Improve and develop processes to identify, resolve, and mitigate customer account delinquencies.
• Work with Finance to forecast bad debt projections and potential customer defaults.
• Leverage systematic processes with use of software or using internal IT resources to improve collection efforts.
• Develop and improve performance metrics that can be used to evaluate performance of collections staff.
• Preparation of customer litigation documentation, make court appearances, and evaluate and recommend legal settlements.

 

Other Responsibilities

• Other duties and projects as assigned.

 

Necessary Qualifications

• Bachelor’s degree in accounting, finance, or related field or equivalent professional experience.
• 10 or more years’ experience with customer receivables, collections, and credit evaluation.
• Proven experience