We believe being healthy should not require tradeoffs. SCN BestCo is a leading innovator, developer and manufacturer of Vitamin, Mineral & Supplement (VMS), Over-the-Counter (OTC) and prebiotics/probiotics in enjoyable forms such as gummies, lozenges and chews. With over 50 years of excellence, our team leads the way in changing how consumers make healthier choices. With unique food science expertise and proprietary processes, we’ve pioneered many firsts. The fire in our belly to create new to the world products has guided and continues to be core to our mission of making health and wellness more enjoyable. Come join us and become a part of our winning formula!
The Senior Credit, Collections & Deductions Analyst is responsible for timely collection of outstanding assigned accounts, deduction resolution and risk assessment of prospective and existing accounts within the corporate credit policy. The position also supports unclaimed property initiatives related to customer credits, negotiates settlements of problem accounts within assigned guidelines, provides recommendations for third party collection placement, , participates in associational credit meetings as approved by management, maintains all customer credit files, provides recommendations for credit limit increases and new accounts within policy guidelines, sets up new accounts, manages credit term change requests, and order release approvals. The Senior Credit, Collections & Deductions Analyst contacts all assigned accounts on a regular basis to maintain viable relationships to mitigate unnecessary credit risk, interfaces heavily with major customers and internal departments to ensure timely customer payments and deduction resolution, and monitors the assigned credit line base to ensure compliance with assigned credit terms and business initiatives. This position works in conjunction with interdepartmental and cross functional personnel to suggest improvements to processes to create effectiveness and efficiency within the Order to Cash (O2C) process. The Senior Credit, Collections & Deductions Analyst collaborates with Finance, Commercial, Customer Service, and Contract team members to implement and maintain programs that improve cash collections. Maintains a high level of proficiency with the Accounts Receivable (AR) processing systems and software, and suggests and implements new procedures to enforce company policies, objectives, and initiatives.
Estimated starting annual base salary is $68,456.96 – 102,685.44 less applicable withholdings and deductions, paid on a bi-weekly basis. Please note that the actual compensation offered may vary based on relevant factors as determined by the Company, which may include, but is not limited to, location, experience, qualifications, education, skillset, and market conditions. The target base compensation for this role is in the low to middle of the range, with the top of the range reserved for only exceptional circumstances. In addition, this role is eligible for a discretionary, variable annual incentive, paid based on Company performance factors. SCN BestCo offers a competitive benefits package to eligible full-time employees, which currently includes medical, dental, and vision plans, 401(k) with employer matching contributions, life insurance, paid time off, tuition reimbursement, and more, as well as paid sick leave in accordance with applicable law. Each benefit is subject to eligibility requirements as specified in plan documents, and the Company reserves the right to modify the benefits it offers from time to time
Duties and Responsibilities
- Identify, contact, and secure satisfactory payment commitments from delinquent customers as required.
- Ensure that customer contact is consistent with collection strategy and initiatives.
- Utilize customer portals to identify upcoming customer payments and deductions and/or chargebacks.
- Engage with customer proactively to reconcile outstanding balances and disputed balances.
- Conduct credit investigations of new and existing customers.
- Complete set-up of new customers. Ensure customer set-up process is progressing and track the new customer set-up status.
- Assess risk of new and existing accounts by interpreting credit reports, customer financials and other information secured through various credit resources and thereby instituting risk mitigation strategies.
- Provide credit approvals within assigned guidelines using credit scoring model and provide direction to team on credit investigation results and new accounts setups.
- Provide weekly status reporting on watch/red flag accounts.
- Initiate and sustain communication of problem accounts with Sales, Customer Service, Contracts, and Logistics teams.
- Update system notes on collection/deduction activity.
- Work with cross functional teams to identify root cause of deduction/chargebacks and recommend strategy for resolution of outstanding deductions.
- Interface with customer for repayment of invalid deductions/chargebacks and to reconcile disputed balances.
- Assist in defining and communicating order release criteria to customers, Sales, AR peers, management, Customer Service, Contracts and Commercial teams.
- Maintain appropriate record keeping process as it relates to AR supporting documentation.
- Prepare weekly and monthly report analysis of AR trending reports.
- Compile and report cash flow forecasting requirements on a weekly, monthly and quarterly basis for territory and assist on providing territory analysis and support to justify updates to cash forecast. Assist in reconciling differences in actual and forecast cash variables.
- Process National Association of Credit Management (NACM), GC Services (GCS), and Experian files monthly.
- Support external auditor requests.
- Assist management in understanding business, operational drivers and factors as they relate to credit management, cash collections, and accounts receivable factors.
- Assist with special projects and provide additional support as assigned by management or as needed by department.
Required Qualifications
- High school diploma or equivalent.
- 12 years’ experience in commercial collections and commercial credit in a Business to Business (B2B) environment, or commensurate combination of higher education and work experience.
- Previous management experience.
- Good working knowledge of accounting principles and practices and their application.
- Demonstrated oral and written communication skills.
- Strong customer service support skills including the ability to promote these skills in peers.
- Demonstrated ability to establish collaborative working relationships with all levels within the organizations, as well as external customers and service providers.
- Demonstrated effective ability to lead people and projects, utilize diplomacy and confidentiality when dealing with sensitive issues.
- Strong analytical skills, ability to identify, define, and solve problems rapidly and to think and plan strategically.
- Ability to make independent decisions in accordance with departmental policies and procedures.
- Ability to analyze moderately complex issues and make recommendations for proper actions.
- Good organization, attention to detail, time management, prioritization, and multi-tasking skills.
- Computer proficiency including strong Microsoft Office skills, particularly in Excel and Outlook.
Preferred Qualifications
- Bachelor’s degree in accounting, finance, or related field.
- Food and beverage manufacturing industry experience.
Physical Requirements
The employee is occasionally required to sit; climb or balance; and stoop, kneel, crouch, or crawl. The employee must frequently lift and/or move up to 10 pounds and occasionally lift or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and ability to adjust focus.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities