Develop and implement policies and procedures to evaluate customer financial strength, research credit worthiness, evaluate risk, and recommend credit lines. Develop strategies and goals to reduce exposure to write-offs. Work closely with sales and other departments to communicate credit limits, provide support, resolve problems, and reconcile accounts. Recommend and implement credit extensions/revocations, and/or legal action where necessary. Perform reconciliation, credit adjustments, bad debt write-offs, refunds, customer notification, and other transactions or reports according to company policies and procedures. Stay current on all applicable laws and maintain relationships with outside credit agencies.
Credit Risk Management for Acquired Businesses:
Assist with integrating acquired companies into our credit processes
New Customer Setup:
Collect required documents (application, W9, tax exemption certificate if applicable).
Assign sector number, terms, and credit limit.
Ongoing credit limit and project review:
Utilize job info form to assign special project terms (including deposits as needed).
Manage risk associated with slow pay customers and customers whose orders exceed their credit limit.
Review customers where sales or a specific project is beyond their approved credit limit.
Obtain financials to find a way to support revenue.
Perform other ad-hoc duties as assigned related to business changes, special projects, etc.
General Credit Review
Complete credit line reviews with financial statements to support revenue growth.
Ensure faster turnaround times for quick decisions on orders on credit hold and/or large project orders on accounts with inadequate credit limits.
Support flexed credit lines, including where NCS mechanics lien notices have been filed to secure Allegion’s position.
Provide frequent updates based on shipping dollars, completion dates, etc., to ensure Allegion’s rights are enforceable and actions are timely.
Maintain lien waivers to ensure rights are retained based on payments received.
Utilize credit instruments to capture revenue securely on higher-risk accounts.
Assist in coverage for the Credit Risk Analyst during PTO.
Expand Credit Americas Efforts to Collect Unearned Early Pay Discounts:
Collect back unearned discounts on for top offenders
Work with smaller dollar offenders to reclaim unearned cash discount dollars (VDI, Schlage, LCN) that Allegion Americas does not presently pursue.
Term out an account to “Net 35” for repeat offenders.
Partner with Allegion Sales and external customers to change customer behavior in taking early pay discounts and repaying unearned discounts.
Expand enforcement of early pay cash discount with Allegion Canada/Steelcraft/Republic.
Additional Responsibilities
Expand Allegion Americas Credit team to complete additional manual reviews annually on medium to high-risk customers per policy to mitigate risk to Allegion.
Manage CRM approvals regarding account changes, new account setup, brand adds.
