Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 107,000 colleagues serve people in more than 160 countries.
Abbott serves the Irish market with a diverse range of healthcare products including diagnostics, medical devices and nutritionals products. In Ireland, Abbott employs over 4,000 people across nine sites. We have six manufacturing facilities located in Clonmel, Cootehill, Donegal, Longford and Sligo and a third-party manufacturing management operation in Sligo. Abbott has commercial, support operations and shared services in Dublin and Galway. We have been operating in Ireland since 1946.
Abbott Ireland Financial Services Cherrywood Dublin
Abbott’s EMEA Finance Shared Services centre commenced operations in Cherrywood, Dublin in October 2015. From this location the Finance Shared Services provides processing and expertise, in local languages, to Abbott divisions and affiliate companies across EMEA. The core services are in Record to Report, Order to Cash, Source to Pay and Master data management. The Financial Shared Services hub is part of Corporate Finance and has regional counterparts in the US and in Singapore.
PURPOSE OF THE JOB:
The Credit & Collections Analyst is accountable to perform/review the day-to-day shared service credit operations for the region including but not limited to: (a) review of credit extended to customers within the normal credit review process, (b) advise and propose the appropriate customer credit limit, (c) determine if any risk mitigation instrument is required and propose the most appropriate option, (d) preparation and review of credit requests over threshold values, (e) development and monitoring of monthly credit reporting and (e) determination and review of customers placed on credit hold.
In addition to this, the Credit & Collections Analyst is also responsible for overseeing the Cash Collections, Invoicing, Cash Application, and Dispute Resolution, on a daily basis for the regions under management in order to mitigate the risk and optimise the Accounts Receivable portfolio. The Credit & Collections Analyst is also interacting internally and externally to resolve outstanding issues relating to accounts receivable and propose options to further improve the Accounts Receivable, as well as managing the cash applications.
The Credit & Collections Analyst is accountable to ensure that adequate Credit & Collection processes and policies are in place in the region and that overdue and DSO figures are monitored and are agreeing with the target expectations. This also includes the escalation to management as well as involving the key regional stakeholders, whenever required.
The Credit & Collections Analyst is required to manage autonomously the assigned customer portfolio and build strong relationships with the regional Teams and with the Customers, as well as performing regular analysis on the portfolio under management, further standardising the Credit & Collection activities, and actively participating to the continuous improvement idea generation process.
The Credit & Collection Analyst is performing analysis to further improve the cash collections performance, cash applications process, risk mitigation management and bad debt reserve process, as well as proposing options to the management to facilitate the decision-making process.
- Perform day to day shared services credit, cash collections and cash application functions within the defined process standards working across captive and outsourced teams,
- Analyse and review credit assessment and terms provided to existing and new customers,
- Credit management and risk mitigation leveraging financial instruments, i.e. credit insurance, letters of credit, bank guarantee, etc,
- Manage the Bad Debt Reserve calculation process and seek for improvements,
- Perform collection reviews with the regions as well as the required follow-ups,
- Drive cash collections for the portfolio under management,
- Analyse and Review the cash collections performance,
- Meet the agreed performance measures, KPIs, and goal setting processes,
- Prepare and review monthly performance reports,
- Oversee the cash application activities performed by the 3rd party provider,
- Ensure that the customer payments are adequately allocated,
- Assist management in performing, facilitating, and reviewing day to day credit and cash collections activity within the shared services centre and the 3rd party provider,
- Have a high level of understanding of the commercial operations, build and maintain an excellent relationship with commercial stakeholders such as Area General Managers, Area Controllers, Regional and Divisional Finance Directors,
- Standardise the credit and collections processes and services to the regional shared service organization,
- Provide support in the maintenance, review and update of the global standard credit and collections processes, to meet the needs of the shared service's stakeholders,
- Create, review and maintain Standard Operating Procedures (SOPs),
- Evaluate best practices with global peers and develop improvement suggestions,
- Assist management in developing and reviewing performance results for credit and accounts receivable processes in the region,
- Ensure integrity of internal controls, in partnership with the compliance team,
- Support internal and external audit queries,
- Provide oversight and support for responses to and remediation of audit findings, across internal and 3rd party outsource service providers, as required.
EDUCATION & COMPETENCIES:
- Bachelor’s in business administration or Professional credit management qualification highly preferred. Relevant work experience advantageous or equivalent combination of education and work experience.
- 2+ years of international credit experience inclusive of all aspects of credit management and/or cash collections,
- Fluent in English as well as in an additional European language,
- Knowledge and understanding of overall OTC (Order To Cash) processes,
- Experience in analysing data,
- Experience working with Emerging Markets preferred,
- Experience working with financial instruments, i.e. credit insurance, LC’s, guarantees, etc,
- Experience in reading and analysing customer financial statements,
- Prior recent experience working in a captive SSC environment preferred,
- Experience with 3rd party outsource providers preferred,
- Strong ability to interact with internal and external parties at Senior Management levels,
- Attentive to detail with a propensity for continuous improvement and standardisation,
- SAP ERP experience is a plus,
- Advanced Excel skills.
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