Credit Specialist

Job Description

Credit Specialist (Collections focused)

We are currently seeking a Credit & Collections Specialist who will play a key role in recommending new credit and extensions of credit through research and analysis of financial documents. The role manages a portfolio of accounts that may carry credit lines up to $1M, practices, and procedures in a manner that will result in maximum sales, sound receivables and the prompt conversion of receivables into cash with a minimum of past due accounts. The position will use discretion as it relates to being in accordance with established policies. The role is also responsible for creating, managing, and maintaining relationships with not only the customers but also operating personnel within other UMG departments.

How you'll CREATE:
• Manages account to ensure that it's compliant to company's credit and collection policies, practices, and procedures to the credit requirements of a designated number of customer accounts within specified authority levels
• Oversees workflow and day to day credit activities for claims and cash people assigned to the Specialist's portfolio of accounts

Collections: Primary function
• Manages and maintains account relationships that include meetings as needed with assigned accounts for collection purposes, reconciliation of customer accounts, security negotiations (collateral such as a letter of credit, advance, guarantee), financial strength evaluation, and customer relations. Determines if a settlement can be made.
• Ensures proper follow-up of delinquent accounts and manages a team working on account follow-up with assigned cash and claims employees
• Regularly monitors account exposures and aging accounts and determines the action to be taken on delinquent accounts, such as putting an account on hold. The decision made by the Analyst affects sales plan and account behavior.
• Analyzes trends of high-risk accounts, negotiating additional security [collateral] and/or extended payment terms where necessary
• Works closely with other departments, particularly sales, advertising, customer service, and logistics to resolve customer discrepancies
• Reconciles customer's statements. Manages and resolves deductions and chargebacks
• Responsible for all credit activities for assigned accounts as it relates to company policy

Extension of Credit: Secondary function
• Extends credit to customers with independent decision-making to be in compliance with established policy and terms
• Analyzes and evaluates requests for credit and plans due diligence to be performed
• Analyzes and interpret financial information, trade, bank, and credit reports. Determines if security [collateral] is needed to maximize sales potential while protecting accounts receivables and presents recommendations to management. Performs analysis on new and [periodically] on existing accounts
• Evaluates and makes independent decisions regarding credit limit increases or decreases, credit holds, and settlement negotiations within assigned authority levels
• Maintains and updates credit files, legal and government documents

Bring your VIBE:
• Minimum (3) years of experience in a similar role
• Ability to analyze and interpret financial statements
• Working knowledge of current credit market conditions
• Basic accounting knowledge
• Ability to interact with all levels of management
• Proficient in MS Office, including strong Excel skills
• Ability to develop customer rapport, negotiate and attain closure with minimal supervision
• Bachelor's Degree preferred

Perks Playlist:
• Be part of an entrepreneurial, global organization that values authenticity, drive, creativity, relationships, and a competitive spirit
• Comprehensive medical, dental, vision, and FSA options, as well as:
• 100% coverage for out-patient mental health services
• Wellbeing reimbursements for fitness classes, spa treatments, meal services, travel, and so much more (up to $720/year)
• A lifetime fertility support allowance of $30,000 to plan participants
• Student Loan Repayment Assistance and Tuition Reimbursement
• 100% immediately vested 401(k) match on the first 5% of your contribution on eligible compensation
• Variety of ways to prioritize much-needed time away from work including:
• Flexible Paid Time Off (PTO) for exempt employees
• 3-weeks PTO for non-exempt employees
• 2-weeks paid Winter Break
• 10 Paid Holidays (including Juneteenth and Wellbeing Day)
• Summer Fridays (between Memorial Day and Labor Day)
• Generous paid parental leave for every type of parent

Disclaimer: This job description only provides an overview of job responsibilities that are subject to change.

All UMG employees are currently required to be fully vaccinated against COVID-19 or provide proof of a negative PCR or Antigen test before entering any Company offices unless they have been approved for an exemption or unless prohibited by applicable law.

Universal Music Group is an Equal Opportunity Employer

We are an E-Verify employer.

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Job Category:
Finance & Accounting

Salary Range:
$64,480.00 - $88,513.33

The actual base salary offered depends on a variety of factors, which may include, as applicable, the qualifications of the individual applicant for the position, years of relevant experience, specific and unique skills, level of education attained, certifications or other professional licenses held, and the location in which the applicant lives and/or from which they will be performing the job. All candidates are encouraged to apply.

Jobcode: Reference SBJ-rvzp4j-3-128-199-210-42 in your application.