Sr Manager, Credit & Collections

Work Schedule

Environmental Conditions

Job Description

Business Job Title: Senior Manager Credit & Collections

Career Band: 08

Career Track: Management

Position Location: Budapest, Hungary

Number of Direct Reports: max. 5

Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science, with annual revenue of approximately $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, growing efficiency in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our distributed team delivers an outstanding combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands. For more information, please visit www.thermofisher.com.

Position Summary:

As a Senior Manager of the Credit and Collections team, your role will involve leading a large group of the Order to Cash (OtC) function in EMEA, with an annual performance of $4B+. The primary objective is to achieve all Accounts Receivable (AR) targets, including cash collected, minimizing bad debt, and reducing overdue debt while ensuring adherence to Service level agreements (SLAs) on credit risk management. Additionally, you will be expected to meet the company's targets for effective team management and engagement.

The role would suit a candidate with excellent rapport building ability, strong leadership and people management skills. Previous background in a similar senior position in the OtC department and passion to achieve critical metrics are crucial to fully grasp the complexity of the role.

Responsibilities:

• Lead employees and teams of employees up through the Manager 1 level, by setting and supervising performance goals and objectives, prioritising of activities, and ensuring timely and effective delivery of credit decisions and collection issue resolutions.
• Act as first line of support, mentoring & guidance to manager for People, Processes, KPI’s and local stakeholder management support (commercial, customer care etc) within groups
• Drive talent development strategy within the function
• Evaluate key business factors and drive value by devising and implementing strategic plans and operating models through the Annual Operating Plan (AOP) and monthly budgetary cycles.
• Propose and implement structural and procedural changes for the organization to drive standardization and productivity, with support from the Global Process Owner.
• Lead the collection process of delinquent accounts to maintain credible receivable, including establishing relationships with collection agencies and collection attorneys.
• Review of customer financial documents, using financial and market condition expertise for accurate credit limit assessment and approval, maintaining an appropriate level of credit risk.
• Accurately forecast performance of all Key Performance Indicators.
• Deliver clear and pro-active communication and business partnering with support business divisions and key partners across the region (e.g: Customer Care, Commercial and Accounting teams)
• Champion the continuous improvement methodology across the teams to drive ideation and execution with a view of creating lean processes and standardization.
• Ensure the performance of all tasks is carried out in line with company policies, internal controls and Sarbanes-Oxley requirements.
• Align with equal employment opportunity laws, regulations and company policies related to discrimination in hiring, performance managing, promotion and compensation, including sexual harassment.

• Additional tasks will include:

• Collaborate closely with territory Sales leaders on credit holds and possible account terminations, and review future potential of key accounts, based on analysis of financial data.
• Perform sales pipeline evaluations to forecast and analyze potential peaks at quarter ends, as well as establish efficient procedures for processing orders during this time.
• Attend and present in quarterly business reviews, enhancing communication between commercial and OTC teams.
• Involvement in revenue recognition, ensuring compliance to Thermo Fisher Scientific policies.
• Represent function across organizations internally and externally.
• Participate in appropriate trade and credit groups and conferences.
• Collaborate effectively with Internal and External Audit teams to ensure timely and accurate completion of testing procedures.
• Deputize for OtC director including local weekly leadership meeting, Internal business review, daily operational management reviews.
• Undertake other projects and responsibilities as assigned.

Skills & Qualifications Required:

• Skills:

Exceptional leadership skills, ability to inspire and motivate team members, develop and mentor teams set clear expectations, and provide guidance and support.

Proficient communication skills at a senior leadership level.

Strong problem-solving and analytical skills.

Superior organizational skills to prioritize tasks and projects and adhere to set timelines.

Flexibility and adaptability to changing business needs and priorities.

Excellent attention to detail to ensure accuracy in credit assessments, documentation, and reporting.

Content master in the field of credit and/or collection with a strong systematic knowledge of accounting principles and internal processes and standards.

Superior negotiation and relationship building skills.

Proven track record of excellent judgment and decision-making ability.

Demonstrated diplomacy, integrity and ethical standards.

• Qualifications and experience:

Fluent in English

University or College degree in credit management/accounting, or equivalent professional qualification is an advantage

SME system knowledge in multiple ERPs (example: Oracle E1, SAP) and collection software (CForia) is essential to perform this role effectively and efficiently

Typically 10+ years of experience in a credit or collection function and 2+ years of management experience.

Excellent digital literacy and knowledge of the Microsoft Office software is required (Outlook, Excel, PowerPoint, etc.)

At Thermo Fisher Scientific, each one of our 100,000 extraordinary minds has a unique story to tell. Join us and contribute to our singular mission - enabling our customers to make the world healthier, cleaner and safer.

Thermo Fisher Scientific is an EEO/Affirmative Action Employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, disability or any other legally protected status.