Credit and Collections Specialist

At Starkey, we are in the business of connecting people and changing lives. As a world leader in the manufacturing and delivery of advanced hearing solutions, we go to work each day to ensure every person on the planet has the opportunity to hear their very best. Founded in 1967, Starkey is known for its innovative design, development, and distribution of comprehensive digital hearing systems.

Headquartered in Eden Prairie, Minnesota, Starkey has more than 5,000 employees globally, operates 29+ facilities and does business in more than 100 markets worldwide.Here's a video about the people behind Starkey's groundbreaking innovation:

https://www.youtube.com/watch?v=GjhRQ7qzlI0

JOB SUMMARY DESCRIPTION / PRIMARY PURPOSE OF JOB

Starkey is hiring a Credit and Collections Specialist at our Global Headquarters in Eden Prairie, MN. This position will be responsible for credit extension, collection of past due Accounts Receivable balance and the release of pending orders in a timely manner for assigned portfolio.

JOB SUMMARY DESCRIPTION / PRIMARY PURPOSE OF JOB

1. Perform credit review of new and existing customers
   
   
   
   • Analyze and approve credit applications
   • Evaluate new and existing client relationships by completing a thorough risk assessment including analysis and interpretation of customer business and personal credit report.
   • Monitor risk of large customers based on aging analysis, payment history and thorough analysis of customer financial statement, annual report, Experian Biz App, and Credit Risk Monitor reports
   • Annual credit review (or as needed) of existing client portfolio and recommend credit limits adjustments
   • Collaborate with the sales team on options for customers with credit worthiness issues
   
   
   
   
2. Solve credit problems for internal/external customers.
   
   
   
   • Daily review orders that have been placed on hold to facilitate prompt release and shipment
   • Negotiate payment plans and/or settlements when appropriate.
   • Timely management of strategic client portfolios including addressing and preventing past due account balances through interaction with customers and strategizing with internal customer relationship partners
   • Contact past due and current customer accounts to collect delinquent receivable balances and resolve pending disputes.
   • Follow up with past due accounts in a timely and consistent fashion.
   • Review aged accounts receivable balances for collection calls and credit file updates.
   • Determine when an account is ready for final demand notice and or collection placement.
   
   
   
   
3. Ensure that all administrative maintenance is accurately completed for all assigned accounts.
   
   
   
   • Ensure accurate customer records through proper account reconciliations, payment application, recording of adjustments (write-offs, credit memos, etc.), name changes, bill-to addresses, etc.
   • The ability to handle confidential information and use discretion while performing job tasks.
   • Ensure final demands and collection placement are reviewed monthly.
   • Document customer contact and other communication within Oracle: Advance Collection.
   
   
   
   

Results

• Meet company collection targets based on portfolio activity and management expectations sent via monthly team goals.
• Maintain a low DSO for account portfolio.
• Maintain a good relationship with internal and external customers.

Results

• Prepare and provide recommendations on changes to improve the Accounts Receivable department with regard to procedures, coordination between departments, and other practices that would improve operations from a customer service stand point.
• Assist with designing and developing company Receivables Aging standards: assisting with the implementation of procedures to meet and exceed standard target ranges.
• Required to work/assist with month end closing processes.
• React to change productively and handle other essential duties as assigned.

Job Requirements (Minimum education, certification and experience requirements)

Education:

• Bachelors Degree in Business or related field
• National Association of Credit Management (NACM) certified (CBF or higher)

Experience:

• Four to seven years experience in a corporate credit/customer service environment
• Working knowledge of Windows, Excel, and Word for Windows preferred.
• Oracle Advance Collections
• Experian Credit Reports

Skills & Abilities:

• Enjoy problem solving and attention to detail. Good problem solving skills required.
• Ability to communicate effectively and tactfully with a wide variety of people
• Heavy phone collection and customer skills required.

Salary and Other Compensation:

The hourly rate for this position is between $20.36 - 27.76 /hour. Factors which may affect starting pay within this range may include geography/market, skills, education, experience and other qualifications of the successful candidate.

Benefits:

The Company offers the following benefits for this position, subject to applicable eligibility requirements, include medical insurance, dental insurance, vision insurance, 401(k) retirement plan, life insurance, short-term disability insurance, long-term disability insurance, employee assistance program, hearing aid benefits, PTO, 6 paid holidays annually, 2 floater days annually, 1 volunteer service day annually, paid paternity leave, and tuition reimbursement.

This position is eligible for a bonus based upon performance results. There is no guarantee of payout.

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