Director AR/Credit

Agri-Mark, Inc.; Waitsfield (VT); On-site; USD 125,000 - 135,000; Full time

Job summary

A leading dairy cooperative in Vermont is seeking a Director of Credit and A/R to oversee credit functions, ensure maximum cash flow, and lead a team responsible for billing and accounts receivable processes. The ideal candidate has a minimum of 10 years in finance or credit management and a proven track record in improving processes. The role offers a hybrid work schedule with three days in the corporate office and a competitive salary range of $125-135k.

Qualifications

• Minimum of 10 years’ experience in finance, accounts receivable, or credit management.
• Deep knowledge of credit and accounts receivable departmental functions.
• Proven track record of streamlining processes.

Responsibilities

• Overseeing all functions related to Credit, Collections, Billing, Accounts Receivable.
• Implementing strategies for maximum cash flow with minimal losses.
• Collaborating with leaders across the organization on operational issues.

Skills

Communication

Management

Negotiation

Problem resolution

Analytical thinking

Education

Bachelor’s degree in Business Management, Finance, Accounting, or related field

Credit professional certification (CCE, CCRA, ICCE, CBF)

Tools

ERP systems

Automated software systems

Job description

How would we describe a career with Agri-Mark/McCadam/Cabot Creamery? More than 100 years of: Farmers, Family, Mission, Purpose, Sustainability, Respect, Integrity, Work Ethic, Teamwork, Pride in Award Winning Products, and Agriculture.

Cabot Creamery achieved B Corp certification in 2012 and became the world’s first dairy co-op to do so.This certification demonstrates our commitment to transforming the global economy to benefit all people, communities, and the planet.

We offer a hybrid schedule with three days in our Waitsfield, VT corporate office (Tuesday-Thursday).The salary range for this role is $125-135k

What you\'ll be doing:

The Director of Credit and A/R is a key leadership position directly responsible for overseeing all functions related to Credit, Collections, Billing, Accounts Receivable, Settlements and Dispute Management for both domestic and international business segments, which generates over $1 billion of revenue annually, with an average monthly Accounts Receivable balance of approximately $100 million. This position creates strategies and objectives for the A/R department to ensure maximum cash flow through billing and collection of receivables, with minimum losses from leakage, deductions and bad debt exposure, while supporting sales growth and maintaining customer good will. This position also oversees various functions related to trade spending, including settlements and trade spend accruals. These tasks are achieved by providing direction, management and development of the Accounts Receivable team through implementation of systems, processes, internal controls and policies. This position also collaborates with leaders across the organization to develop cross-functional solutions to operational issues as needed.

Credit and Collections

• Safeguard accounts receivable by implementing & monitoring effective credit & collection policies.
• Refine and improve credit policy and procedures as needed, to accommodate ever-changing economic conditions and customer requirements.
• Develop procedures to determine how credit risk is managed for domestic & international sales.
• Gauge customer credit risk and business opportunity; overall judgment of allowing a sale.
• Oversee the negotiation process and course of action taken for overdue accounts.
• Monitor/benchmark industry & peers to identify competitive opportunities or shortfalls.
• Manage & improve A/R portfolio risk and performance in accordance with goals and objectives.
• Mitigate losses by recognizing & reacting quickly to changes in customer buying/payment patterns.
• Stay abreast of current market trends and patterns and act accordingly.
• Manage credit bureau/information resources and contracts.
• Negotiate alternative selling terms or arrangements as needed.
• Establish and monitor customer account credit evaluations and order auto-approve parameters.
• Ensure payment terms are adhered to & enforce terms of sale; take collection action as needed.
• Address situations to deal with conflict or other sensitive issues with customers.
• Work closely with large/key accounts to facilitate the mutual benefits of the trading relationship.
• Ensure maximum collection efforts have been taken before assigning bad-debt status to accounts.
• Liaison with attorneys and third party agencies on legal actions, collections and bankruptcies.
• Participate in credit association conferences to develop network of credit contacts, expand knowledge of credit management and gain insight on trends in the grocery and broader food business.

Accounts Receivable:

• Determine, implement and manage A/R department structure and objectives.
• Manage A/R Portfolio, ensuring superior KPI’s for Credit, Collections, A/R & Deductions.
• Oversee recruiting, hiring, supervision, training & development of A/R department.
• Provide focus and leadership to motivate the A/R team to achieve peak performance.

Trade Spending and Settlements

• Manage deduction process administration in Telus Trade Promotion System and oversee dispute resolution.
• Monitor and coordinate regular audits of activity and manual adjustments made to trade events in Exceedra to ensure accuracy of trade spending accruals.
• Collaborate with various departments to mitigate invalid or preventable deductions.
• Review TPM system accrual report calculations for promotions, terms and shopper marketing events.
• Record trade spending accruals in financials and allocate trade spending to gross margins by category for cheese, butter, cultured, and resale products.

Additional Responsibilities

• Ongoing development of professional skills.
• Flexibility in understanding the changing needs of the business.
• Interacting with other internal functions for mutual benefit.
• Monitor data integrity of all software systems.
• Recommend corporate process, policy and procedure improvements.
• Partner with Information Systems in identification, design, and development of new systems/system enhancements to increase efficiencies and effectiveness of A/R and other related functions.
• Attend trainings, team meetings and other company-sponsored or industry related events.
• Represent the company in alignment with the brand and company values.
• Maintain confidentiality of sensitive and proprietary customer and company information.
• Ensure that records are maintained in a secure environment in accordance with company record retention policies.
• Complete other projects and perform other duties in support of the company goals and objectives.
• Oversee audit functions related to billing, credit, A/R and trade spending, which are areas that undergo high levels of scrutiny.
• Coordinate activities with outside audit firm to ascertain compliance with auditing requirements.
• Ensure that strong audit control procedures and separation of duties are followed accordingly.

What we are seeking

• Minimum of bachelor’s degree in Business Management, Finance, Accounting, or related field.
• Completion of credit professional certification programs is desired, such as; CCE, CCRA, ICCE, CBF.
• Minimum 10 years’ experience in finance, accounts receivable or credit management position.
• Deep knowledge of overall credit and accounts receivable departmental functions.
• History of exceptional A/R team performance with superior collections & minimal bad debt losses.
• Global business experience with export compliance knowledge.
• Proven track record of streamlining processes and implementation of new processes and systems.
• Knowledge of creditor rights and bankruptcy laws.
• Possess strong business acumen skill set with ability to understand how actions impact company’s profitability, plus seeing the big picture to implement organizational change.
• Excellent communication, management, negotiating and decision-making skills.
• Problem resolution skills with ability to identify opportunities to proactively prevent problems from occurring in the future.
• Experience with ERP or legacy software selection and/or implementations.
• Expert problem solver, analytical thinker and decision maker.
• Strong interpersonal skills with the propensity to successfully foster new and maintain long-standing business relationships.
• Excellent organizational and time management skills. Ability to prioritize tasks.
• Role model for critical thinking, sense of urgency, highest ethical standards and attention to detail.
• Exceptional organizational skills, with the ability to manage complex projects and balance workloads to achieve results.
• Technology savvy-proficiency with automated software systems, including credit & collection tools.

Agri-Mark is an equal opportunity employer. The company is committed to the fundamental principle of equal opportunity and equal treatment for every qualified prospective and current employee. The company does not discriminate or allow discrimination on the basis of race (including traits historically associated with race including hair texture and protective hairstyles), color, religion, ancestry, national origin, citizenship, genetic information, sex (including pregnancy or pregnancy-related conditions), sexual orientation, gender identity, place of birth, crime victim status, age, physical or mental disability, a positive result from an HIV-related blood test, military or veteran status,or any other classification protected under applicable federal and/or state law.

Agri-Mark complies with all federal, state, and local laws and regulations.