Prompt cash flow is critical to our business. The main responsibility of the Credit Specialist is to ensure funds due to L’Oreal are received as expected. Our Credit Specialists analyze payment trends to determine what is causing delays by account and provide recommendations on how to improve them. If cash is not flowing appropriately, it is the Credit Specialist’s responsibility to understand why. To achieve this, the Specialist must be the expert on their accounts and be able to communicate effectively with both internal and external business partners to resolve any issues that may arise. This role is vital to our organization as the impact and risk associated by shipping with open terms, and collecting payment timely, is essential to L’Oreal’s cash flow.
- Develops reporting as needed to evaluate customer’s credit exposure, and support requests for credit limit increases.
- Builds partnerships with both internal partners, Customer Service, Sales, Deductions, Treasury, DC and Finance teams, and with their accounts.
- Updates A/R system with status on past due invoices.
- Develops and executes process improvement projects related to the Credit area.
- Analyze shipment and payment flows, in order to review and release customer’s orders on credit hold.
- Manage customer’s credit limits and parameters, providing recommendations on next steps when financial situation changes, or based on business needs.
- Provides proactive information to Management when issues arise, by identifying the root cause and provide recommendations on an action plan to follow.
- Understands the account’s internal payment processes, in order to be able to prepare monthly cash forecasting, timely and accurately, alongside with analysis on drivers for payments made, or missed. Will also use this information to identify improvement opportunities in both, our internal processes, or the account’s behavior.
- Collaborate with IT, Transportation/Carriers, Sales and Customer Service when invoices have issues that prevents the account to pay on time, in order to understand root cause and drive an action plan to prevent future occurrences.
- Participates in the customer creation process with Information & Control and Sales departments, leading the credit related fields. Reviews credit applications, analyzes financial statements and reports, and provides recommendation to Management on payment terms and/or credit limits.
- Proficient skills in Microsoft Office, including Excel, Word, Power Point and Outlook required.
- SAP experience is preferred.
- Strong communicational skills.
- Analytical – ability to analyze large data sets and conduct root cause investigations
- Interacts effectively – ability to influence internal and external stakeholders
- Achieves results – pursues objectives with drive & stays proactive
- Ability to manage time effectively and adapt to changing priorities.
- Ability to handle multiple projects simultaneously with strong attention to detail.
- Innovation – questions the status quo, thinks outside of the box, and has the ability to implement solutions independently
- Manages complexity and demonstrates entrepreneurship – takes initiative, makes decisions independently, and able to manage changing priorities
- Ability to work independently – be dependable and reliable self-starter.
- Excellent analytical skills, understanding and developing trends.
- College degree or equivalent work experience required.
- Experience or exposure to Credit or related field is preferred..
Vacancy Type: Full Time
Job Location: Monmouth Junction, NJ, US
Application Deadline: N/A