Debtors Manager

The Debtors Manager will be responsible for overseeing the management and collection of outstanding receivables, ensuring timely payments from clients, and maintaining healthy cash flow.

This role involves managing a team to monitor, report, and control all aspects of the debtor accounts, ensuring compliance with credit policies and minimizing risk to the company.

Key Responsibilities:

Debtors Management:

• Oversee the collection of outstanding debts and ensure timely payment by clients.
• Develop and implement strategies to improve debt collection processes and reduce the average collection period.
• Maintain and manage the company's accounts receivable portfolio, ensuring accurate and up-to-date records.
• Liaise with clients and brokers to resolve disputes or payment issues promptly and professionally.
• Liaise with external legal advisors for initiation of legal action where necessary.

Team Leadership:

• Lead and mentor the debtors team, providing guidance, training, and support as needed.
• Set KPIs and Conduct regular performance reviews for team members and ensure team objectives are met.
• Promote teamwork and ensure a collaborative approach to debt recovery.

Credit Control:

• Set and monitor credit limits for clients based on financial assessments and risk analysis.
• Review client creditworthiness and assess risk before new credit is extended.
• Ensure all credit policies and procedures are followed to minimize bad debts and maintain financial stability.

Financial Reporting and Analysis:

• Prepare and review reports on the status of outstanding debts as required by management
• Analyze debtors' aging reports and take proactive steps to reduce overdue accounts.
• Provide detailed reports and updates to senior management regarding collection performance and strategies.

Compliance and Risk Management:

• Ensure compliance with internal financial control procedures, legal regulations, and company policies.
• Identify high-risk accounts and take necessary actions to mitigate risk, including escalating to senior management if needed.

Cash Flow and Liquidity Management:

• Monitor cash flow and ensure debt collection aligns with the company’s liquidity and operational needs.
• Work closely with the finance team to forecast cash inflows and ensure appropriate action is taken to maintain financial stability.

Job Requirements:

Qualifications:

• Degree in Finance, Accounting, Business Administration, or related field.
• Professional qualification (such as ACCA, CIMA, or equivalent) is a plus.

Experience:

• At least 5 years of experience in debtor management, credit control, or finance-related roles, preferably in the insurance or financial services sector.

Technical Competencies:

• Strong knowledge of debtor management, credit risk assessment, and collection strategies.
• Proficiency in Microsoft Office (especially Excel) / ERP Systems
• Ability to analyze financial data and identify trends or issues with overdue accounts.