Credit Control Officer

AI summary

Maxitech Global Investment Limited is hiring a Credit Control Officer in Lagos to manage the company's receivables book, ensure timely collections, reconcile customer accounts in Odoo, and reduce overdue exposure. The role requires 3-5 years of experience and a BA/BSc/HND or professional certificate in Finance, Accounting, or Audit.

• Full-time role based in Lagos, Nigeria
• 3-5 years of relevant experience required
• BA/BSc/HND or professional certificate needed
• Focus on receivables, collections, and Odoo reconciliation
• Reports weekly aged receivables to Finance Manager and MD

Original source description

Maxitech Global is your one stop shop for all your IT needs, computers, laptops and gadgets at the very BEST prices. Stop by and make a purchase because you deserve nothing but true value Read more about this company Credit Control Officer Job Type Full Time Qualification BA/BSc/HND , Professional Certificate Experience: 3 - 5 years Location Lagos Job Field Finance / Accounting / Audit Job Purpose The Credit Control Officer will own the day-to-day health of the company’s receivables book by ensuring timely collections, accurate customer account reconciliation, disciplined monitoring of credit limits and payment terms, and accurate receivables records in Odoo. The role is responsible for actively reducing overdue exposure, identifying credit risks early, and ensuring that all collection and reconciliation activities are properly documented and escalated. The position operates independently of the Sales function. Credit control decisions and escalations must not be subordinated to sales targets. Key Performance Indicators The Credit Control Officer will be measured against the following: Days Sales Outstanding (DSO): Prepare monthly DSO reports with variance commentary. Support the achievement of quarterly DSO reduction targets established by the Finance Manager. Overdue Receivables: Reduce receivables outstanding beyond 60 days against the agreed baseline. Ensure there are no unexplained customer balances outstanding beyond 90 days. Reconciliation Integrity: Ensure 100% of customer payments are allocated to the appropriate invoices within five working days. Maintain zero unallocated customer receipts at month-end close. Reporting Discipline: Update and circulate the aged receivables report weekly to the Finance Manager and MD. Maintain an accurate and current debtors summary at all times. Collection Effectiveness: Maintain documented follow-up on all overdue accounts. Track customer payment commitments and ensure agreed payment dates are actively followed up. Key Responsibilities: Receivables and Collections: Monitor customer accounts and ensure invoices are issued accurately and on time. Follow up outstanding and overdue invoices through calls, emails and formal demand letters. Issue statements of account and payment reminders in accordance with the company's collection procedures. Maintain a clear record of all collection activities and customer communications. Track customer payment commitments and escalate missed commitments promptly. Support debt recovery activities and liaise with approved external collection agencies where required. Reconciliation and Odoo Management: Allocate customer payments accurately against the appropriate invoices and customer accounts in Odoo. Reconcile customer accounts and investigate discrepancies, unidentified payments and outstanding balances to resolution. Maintain accurate customer receivables records in Odoo. Identify and resolve billing, payment allocation and account discrepancies in collaboration with Finance and relevant departments. Ensure customer accounts are properly reconciled before month-end close. Support month-end and year-end receivables reconciliation and audit requirements. Credit Monitoring and Control: Monitor customer compliance with approved credit limits and payment terms. Identify and formally flag every credit limit or payment-term breach. Monitor accounts approaching or exceeding their approved credit exposure. Escalate high-risk and significantly overdue accounts in accordance with the approved escalation matrix. Ensure credit control activities remain independent of Sales collection pressures or commercial targets. Reporting and Analysis: Prepare and circulate weekly aged receivables reports. Maintain an accurate debtors summary and ensure there are no stale or unsupported balances. Prepare monthly DSO reports and provide meaningful variance commentary. Analyse overdue receivables and identify recurring collection issues and credit risks. Provide management with actionable information on major overdue accounts and emerging exposure. Multi-Channel Receivables: Manage receivables arising from distributor and corporate accounts. Monitor marketplace settlements, including Jumia, in accordance with applicable settlement terms. Monitor sale-or-return arrangements, including SPAR, against agreed contractual settlement terms. Ensure receivables arising from different commercial arrangements are properly tracked and reconciled. Cross-Functional Coordination: Work with Sales, Customer Service and Finance to resolve billing and payment disputes. Provide Finance and Management with timely updates on significant collection risks. Support process improvement initiatives aimed at strengthening credit control and reducing overdue exposure. Authority and Escalation: The Credit Control Officer does not approve credit. Credit limits and payment terms are established in accordance with company policy and approved by designated authorities. The officer is, however, responsible for identifying and escalating breaches regardless of the seniority of the person involved. Escalation requirements: Accounts overdue beyond 30 days: Escalate to the Finance Manager. Accounts overdue beyond 60 days: Escalate in writing to the Finance Manager, with copy to the MD. Disputed accounts: Escalate in writing to the Finance Manager, with appropriate supporting documentation. Credit-limit breaches: Escalate every identified breach in writing. Credit-limit or term breaches involving an approver: Escalate to the Finance Manager with copy to the MD. Write-offs, discounts or settlement variations: The officer may make recommendations only and has no authority to approve or initiate such arrangements. Probation Success Criteria - First 90 Days At the end of the probation period, the successful candidate must demonstrate: Full reconciliation of assigned debtor accounts. Zero unallocated customer receipts at each month-end close. Weekly aged receivables reports delivered accurately and on schedule without exception. Documented escalation of every identified credit-limit or payment-term breach. Accurate and timely customer payment allocation in Odoo. Clear evidence of active follow-up and reduction of overdue receivables. Demonstrated working proficiency in Odoo and the company's receivables processes. Ability to identify and escalate material credit risks before they become significant losses. Qualifications Bachelor's Degree or HND in Accounting, Finance, Economics, Business Administration or a related discipline. Professional accounting qualification or part-qualification such as ICAN or ACCA is an advantage. Relevant professional credentials and qualifications will be verified before an employment offer is issued. Experience: 3 - 5 years' relevant experience: in credit control, accounts receivable, debt collection or a related finance function. Experience: within distribution, FMCG, trading or other high-volume transaction environments is strongly preferred. Demonstrable experience: managing customer accounts, reconciliations, collections and overdue receivables. Experience: dealing with corporate, distributor and commercial customer accounts is an advantage. Technical Competencies: The successful candidate must demonstrate: Strong understanding of credit control and receivables management. Strong knowledge of invoicing and customer account reconciliation. Odoo proficiency is required, or demonstrated ability to attain working proficiency within 30 days of resumption. Advanced Microsoft Excel skills. Strong numerical and analytical ability. Ability to interpret aged receivables and DSO data. Strong documentation and reporting discipline. Ability to identify discrepancies and drive them to resolution. Behavioural Competencies: Strong ownership and accountability. High attention to detail. Integrity and financial discipline. Assertiveness and confidence in collection activities. Ability to challenge irregularities appropriately, regardless of the seniority of the individual involved. Strong communication and negotiation skills. Ability to work independently and meet strict reporting deadlines. Strong problem-solving and investigative skills. Ability to maintain confidentiality of financial and customer information. Check how your CV aligns with this job Method of Application Interested and qualified candidates should submit their CV for consideration to: hr@maxitechglobal.com using the job title as the subject of the mail. Note Only candidates who meet the stated requirements: will be shortlisted. Maxitech Global Investment Limited is an equal opportunity employer and maintains a recruitment process based on competence, integrity, experience: and business requirements. Build your CV for free. Download in different templates.