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Financial Services Manager

Company: Colonial Supply Co., Inc.
Location: King Of Prussia
Posted on: January 12, 2018

Job Description:

Company Description

Colonial is the premier wholesale electrical supply distributor in the tri-state area. We are a 250+ Million dollar company that is family-owned and operated with over 20 locations and more than 400 employees serving the Electrical Industry with high quality products and services. Colonial's strength comes from our winning team of employees. We offer career development and the opportunity for success along with market competitive compensation and benefits.

Job Description

Position Purpose:

This position:




  • Supervise the financial and legal document aspects of the Customer Financial Services (CFS) organization. This includes the Accounts Receivable functions of Credit Establishment & Monitoring.

  • Ensures that all Financial Services activities occur in a timely, accurate & customer service oriented manner.

  • Review and negotiate terms and conditions for large scale construction projects with a focus on lighting.

  • Ensures that all Colonial Electric Supply policies & procedures are adhered to. Responsible to ensure that all regulatory (financial, legal & reporting) requirements are met.

  • Recommends changes and improvements to FSM of the gold-standard efficiency/service levels through an integration of technology enhancements, process reengineering & measurement/feedback practices.


    Primary Responsibilities:

    Essential duties and responsibilities include the following. Other duties may be assigned.




    • All assigned activities are: Controlled, completed on-time, accurately, courteously & in accordance to Company policies and other regulations.




      • Directs and coordinates activities of employees engaged in conducting credit investigations and collecting delinquent accounts of customers.

      • Proactively manages the credit risk for Colonial, especially with regard to the high dollar projects within established limits. These decisions are to be made in a decisive, authoritative, and speedy manner while maintaining outstanding communication and working collaboratively to help increase customer satisfaction and protect Colonials assets.

      • Supervise the operations of the credit, customer data maintenance teams. This entails delegating appropriate tasks, understanding the big picture with regard to operations, and formulating/revising process & procedures (for exemptions and ongoing activities).

      • Assigns responsibility for investigating and verifying the credit health, documenting the findings and recommending subsequent actions for prospective customers and projects.

      • Establishes, extends and revises, as needed, credit limits on new and existing customer accounts. The Financial Services Supervisor is the person who decides to extend credit within established limits as defined by the FSM. Company president and CFO are the only employees, after consultation with the Financial Services Manager, who can amend decisions made by the Financial Services Manager.

      • Refers any high credit risk accounts, special credit arrangements and deviations from standard terms of payment to FSM.

      • Coordinates Financial Services activities with the Customer Service & Collections Supervisor as needed. This involves communicating in an authoritative manner with customers. In this highly competitive business environment, customers increasingly demanding superior service. A role of the Financial Services Supervisor is to make certain that the credit personnel understand that a large part of its job is customer service and support particularly as it relates to dispute and problem solving.

      • The corporate philosophy is that the Customer Financial Services department is responsible for leading/facilitating the timely, accurate & customer service oriented resolution & collection process. This includes setting the appropriate credit limits assigned to customer accounts and days to pay limits that support Colonials financial needs.

      • Submits delinquent accounts to attorney, small claims court or outside agency for collection. Ensures the proper handling of Bonding & Surety activities, thereby protecting the Companys rights & assets.

      • Establishes a business rapport with the customer that will aid in the proper establishment of customer credit lines.

      • Proactively create, maintain & communicate the departments financial & key activities measurement plans (sets goals) and results as well as performing expectation, monitoring & feedback/modification action loops. This includes accounts and/or customers that are potential credit risks.

      • Manages & approves direct reports administrative processes including vacations & overtime requests while ensuring proper department coverage.






        Qualifications




        • College education with at least 4 years of progressive experience.

        • Process reengineering; proactively evaluating and implementing enhancements to People, Process & Technology.

        • Integrity & High Ethical Standards

        • Positive communication skills (verbal & written for internal & external audiences); ability to proactively use this skill with the selling organization to achieve positive outcomes.

        • Able to lead positive change and multi-task in a team environment.

        • Hands on worker that can also define & lead strategically while implement tactically

        • PC & A/R systems literate (MS Office tools including, word, excel & access. MSD software is a plus)

        • Ability to read, interpret and understand standard financial statements such as the Balance Sheet, Income Statement and Statement of Cash Flow.

        • Previous experience in reviewing and negotiating Standard Terms and Conditions of Sale.


          Additional Information

          All your information will be kept confidential according to EEO guidelines.

          Keywords: Colonial Supply Co., Inc., Philadelphia, Financial Services Manager, Accounting, Auditing, King Of Prussia, Pennsylvania

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