Senior Finance Officer will be responsible to assess the risk of credit days and credit limit as per the information, knowledge and experience.
Finance Officer (Credit) also ensure that accurate balance is maintained between customer and our ledger and take support from AM Finance to resolve all dispute and balance confirmation.
Sr. Finance Officer discusses and provides appropriate feedbacks to Sales Engineers regarding the follow-up with customers.
Key Roles and Responsibilities:
Project the pattern of cash inflow during the period of 3 months based on customer history for payment. Further ensure that projections are realistic, accurate and achievable.
Assist the management in setting up of the credit control system and develop the credit management capability within the practice.
Update and provide accurate information / comments to directors about the client past payment history (if available) on transaction forms and / or other related documents.
Senior Finance Officer will also recommend Directors, based on his knowledge, information and experience about dealing with the client which needs to be second by the Manager Finance.
It is solely in discretion of Directors to either take full, part or overlook the recommendations.
Follow and give feedback to Supervisor (or whom ask for) on the Director comments mentioned on Transaction Form or related documents before delivery.
Senior Finance Officer will also highlight the variance between the terms of customer profiles with the transaction form (if available) if it is skipped by Sales Person or PO Department.
In case of non availability of Finance Officer, Sr. Finance Officer will perform the due diligence.
Senior Finance Officer will send regular reminders / corresponding and follow-up calls before, on and after the due date.
The regular follow-up activities will maintain in CRM (Customer Relationship Management) software for future reference.
Senior Finance Officer will verify petty cash voucher on daily basis.
He will ensure & supervise that all petty cash voucher must be issue as per SOP and company policy.
He will collect cash/cheque/challan from customer regularly.
He will ensure that all reports related to cash/cheque intimation must be send to head office daily.
Finance department will be in regular touch with all customers currently active in debtor’s ledger.
Ensure that no deduction of WHT or SWHT from Invoices & if deducted than proper follow-up for reversal of that tax on priority
Senior Finance Officer should regular visit to customer to maintain healthy relationship but the priority will be given to customers with dispute to resolve the issue before it goes bad.
Prepare and submit the visit report to Manager Finance and concern Sales Engineer after visit to customer with action plan and time line.
Sr. Finance Officer will further keep follow-up till the disputes / issues will resolve.
It is mandatory for Senior Finance Officer to maintain communication in CRM software for future reference.
It is mandatory to use as active / online tool.
Senior Finance Officer will maintain customer data base for recovery and arrange and update the same in SCM software from time to time.
Responsible to maintain the accurate balance of our ledger and customer’s ledger during the process of recovery i.e. in case of any discrepancies finance office will take necessary step to resolve the conflict either contact with billing, finance, sales, delivery department etc. and report to the supervisor with details and visit (if necessary).
Sr. Finance Officer will obtain balance confirmation in line with his current responsibilities (subject to account officer fails to obtain confirmation).
Conduct at least one formal meeting in a week with Sales Teams regarding the follow-up feedback about their respective aging / outstanding and record the minutes of discussion.
It is the responsibility of finance officer to record minutes with specific time line so it can be followed throughout the week effective.
If the follow-up is with the Sales Engineers ask them to be very specific with follow-up time line (like when the last call has been made etc.).
Senior Finance officer needs to be realistic in recording the minutes. Vague statement be avoided to prevent ambiguities.
To ensure that the recovery activities will not be hold or postponed on the request of Sales Engineers.
t can only be postponed on written confirmations from Finance Manager or Director for the specific time.
Managing relationship with the clients in order to reduce exposure to potential bad debts.
Handle all disputed bills and negotiate to bring payment within agreed terms by regular follow-up and visits.
Respond promptly and completely to both customers and internal queries and try to resolve discrepancy at the earliest.
Senior Finance Officer will keep himself update with the assessment tools (reports) for the risk analysis of credit days and credit limit with each customer.
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