Head of Accounts Receivable

Permanent

Gauteng

Overview
We are a Supply Chain and Sales & Merchandising partner adding value to your business through a fully integrated, temperature-controlled network in Southern Africa.

But we are also more than that. We are people serving people. While we boast the best in tech and infrastructure, our people are our greatest resource. With our skilled, curious, can-do people at the forefront, our assets become your assets, our service your solutions.

Vector's vehicle fleet includes a food industry first in 'multi-temperature' vehicles enabling the company to service business across frozen, chilled and ambient temperature zones on a single delivery.

Job Purpose
To manage the Vector debtors' book and control the credit risk in order to maximise cash flow and minimise bad debts/write offs. To drive the identification and execution of credit initiatives and build customer relationships. To ensure the debtors book is managed to maximize cover and reduced premiums. To manage the Debtors team cost and drive cost saving initiatives.

Key Responsibilities

Strategy Formulation

• Participate in the formulation and implementation of the finance strategy. Provide strategic input into the finance team with regard to medium to long term credit management.
• Ensure that assigned and agreed strategic targets are operationalised and achieved.
• Ensure all internal and external stakeholders are receiving the correct level of credit services in accordance with agreed service level agreements.
• Ensure that the credit service activities are performed in a robust financial control environment.
• Plan and develop best practice, systems, processes and procedures to enable continued improvement that meets the needs of the Business in times of change.
• Ensure audit requirements are met and build relationships with internal and external auditors.
• Provide strategic input to the sales teams internally and with principals to maximise sales to credit worthy customers.

Debtors Management

• Manage the opening and closing of accounts processes.
• Monitor and review age analysis reports and take the necessary action.
• Ensure that customers comply with set terms of business and ensure remedial action is taken where non-compliance occurs.
• Authorise stop-supply instruction for customers who have not complied with set terms of payment ensuring that the Credit team blocks the relevant accounts on the SAP system.
• Ensure that letters of demand are sent to customers for accounts in arrears.
• Ensure the reconciliation and correct allocation of customer payments.
• Ensure that the bank statement is reconciled in its entirety.
• Ensure accurate assessment and decision making on customers with the necessary securities being obtained.

Credit Control

• Ensure that the team obtains credit application forms and all supporting documents from all customers, including a credit limit request, in line with the National Credit Act.
• Manage the application to the Credit Guarantee Insurance Company and ensure all requested documents are forwarded, to insure customer credit.
• Ensure that security is obtained from the customer for the difference between the insured value if necessary.
• Manage the negotiation of a payment plan for customers in arrears, who may still be in a position to repay debt if trading continues, and the transfer of credit customers onto COD should that be necessary.
• Approve credit applications up to authorised level or, for greater amounts, obtain authorisation as per the Delegation of Authority.
• To review securities/customer credit worthiness and solvency.
• To develop customer trends and behaviours by attending professional meetings and utilising Credit information tools.
• Ensure accuracy and timelines are being met with the opening and maintaining of customer information.

Customer Relationship Management

• Develop a deep understanding of customer needs.
• Engage regularly with customers regarding related issues and requirements and provide feedback on how the Business is meeting and will meet their requirements.
• Develop a strong rapport with key clients and continuously build trust, integrity and confidence in the service being provided.
• Engage with the Broker and Insurer on renewal of policy and negotiate best options.

Dispute Resolution

• Assume responsibility for the resolution of disputes that have been appropriately escalated.
• Monitor and review documentation provided by the customer to substantiate their claims.
• Ensure that the pricing is confirmed with the principal purposes of sign off and authorisation.
• Authorise the passing of pricing credit note(s) in accordance with the Company levels of authority where customers have been overcharged and a "special deal" had been applied.

Debt Recovery And Write-off

• Oversee the preparation of the legal file and submission to attorneys, including all required documents.
• Liaise with company attorneys over any disputes and appear in court if required to represent the Company.
• Negotiate and agree settlement agreement terms with bad debtors through the attorneys.
• Prepare a write-off schedule with recommendations for approval by the Financial Director Vector.

Financial Management

• Report monthly performance, budget variances and KPI's to the Financial Director.
• Authorise creditors (PO) for payments.
• Provide month-end reports to senior management/Directors.
• To manage all debtor information from source to report.
• To ensure that the end-to-end data to insight process and tools are optimised for efficiency and ease of use enabled by digital solutions.
• To drive innovation in business analytics tools and models for better credit management outcomes.

Cash And Cost

• To compile monthly cash forecasts and identify and implement opportunities to optimise cash and working capital.
• To review the department overheads and budgets and ensure the credit team are maintaining adherence to budget.
• To drive savings plans in line with annual ambition.

Internal Control

• Continuously identify and pursue opportunities to improve credit control procedures.
• Follow up on audit queries and ensure that corrective action is taken by responsible teams.
• Ensure compliance with approved procedures by means of control checks performed by the credit team.
• Coordinate the risk management plan and risk mitigation strategy across the team and drive execution.

Team Leadership

• Monitor staff performance and provide regular feedback.
• Manage staff activities, ensuring service levels are met and protocols are adhered to.
• Coach and support staff where necessary to achieve objectives.
• Manage and deliver on succession plans to enable the development of a future generation of leaders and specialists and ensure optimal turnover and retention levels are maintained.
• Champion staff training and development through the utilisation of available training opportunities or contributing to the development of new training solutions in collaboration with national training specialists.
• Conduct regular performance appraisals with subordinates.
• Establish sound staff and labour organising and communication structures and systems.
• Lead the team towards meeting the strategy and targets through regular communication and utilisation of the full organisational talent management tool set.

Qualifications And Experience
Qualifications, Skills and Experience Required for the Job

• CA (SA).
• Additionally, qualifications or training in any of data science, business analytics or statistics will be advantageous.
• Minimum of 8 years credit control experience with at least 3 in a management position.

Skills And Competencies

• Planning, organisation and coordination.
• Relationship building.
• Verbal and written communication.
• Interpersonal.
• Analytical and evaluative thinking.
• Tolerance of stress and pressure.
• Attention to detail.
• Ability to interface and demonstrate leadership.
• Ability to work independently and in a team-oriented, collaborative environment.
• Ability to identify and coordinate shifting priorities, demands, and timelines through analytical and problem-solving capabilities.
• Persuasive, encouraging, and motivating.

Vector Logistics supports the principles of Employment Equity and is committed to building a diverse and inclusive workplace. Preference will be given to candidates from designated groups in line with our Employment Equity Plan.

If you have not heard from us within 3 to 4 weeks after submitting your application, please consider your application unsuccessful on this occasion. We truly appreciate your interest in joining the Vector team and encourage you to stay connected for future opportunities that may align with your skills and career journey.

We look forward to hearing from you