QUANTUM POLYMERS CONTROLLER – JOB RESPONSIBILITIES Credit Analysis and Review New Customers: As requested by Account or Product Managers – complete within 2 days. Establish credit and insurance levels. • Require completion of the credit application and submission of financials. • Review financial and any other information sent by potential customer. • Consult with AM about: timing of coverage and priority, needs of the customer and potential exposure (get insight into customer products, industry, resin needed etc...), what are the terms of payment, how will commodity prices affect coverage limits. • Review the credit resources for history associated with the potential customer and incorporate findings into analysis and recommendation. • Consult with peers relating to exposure across the industry and any potential credit payment/credit issues. • Provide analysis to the AM and PM and assist in discussion relating to credit and sales allowance based on analysis. • Approval as a customer – allocate credit insurance with Atradius and monitor payments according to terms (AR review below). Existing Customers: Report Weekly all the AR aging with cross reference to insurance limits and potential exposure – report to be e-mailed to CFO, Legal, CEO. Accounts Receivables, Collections, and Monitoring: Review AR aging report weekly to ensure accounts are current. If not paid by terms (keep detailed notes of communications with AP for potential reporting to Atradius). ? verify invoice e-mailed by CSR ? verify reject - ensure credit memos are attached to the applicable invoice. ? contact AP and bring to attention and/or discuss payment not received (daily task for past due amounts) ? when past due, discuss with AM any additional attempts at sales and notify the PM of issues in collections to inform decision to sell. ? cross check currents sales with credit limits and insurance - see above. Ensure AMs are aware of past due amounts. ? report to PMs the past due amounts with the balances outstanding and the credit limits to ensure informed sell decisions and to limit exposure. Page 2 of 3 Communicate past due accounts with Legal, PM and AM to allow for informed customer specific discussions relating to communications with customer to allow Product and Account Managers to make determinations on whether sales are to continue. At 30 days past due, bring in Legal to discuss the specific customer and future coordinated collections efforts. Atradius Insurance Reporting and Compliance: Ensure adherence to requirements and integrity in reporting to Atradius, and the online system continues to be updated to maintain the claim. • update Atradius website with claims - at 50 days past need to initiate discussion with Ryan Babeu and/or Diane Whitcomb to discuss issues and how to proceed with notice of claim. • Claim must be made by 60 days past due – continue to work with Atradius and updating as required in system with notes of collection efforts and the timing for asserting claim. • ensure claim amount is consistent with AR in our records. • Keep Account and Product Manager informed of the issue through the past due process so they are aware of increased risk of sales to the customer. Analysis of Credit Allocations: On a monthly basis, discuss and make recommendations to the Product Managers relating to increasing or decreasing credit by customer based on analysis of aging AR, credit review platform and discussions with industry peers to ensure informed decisions or changes to be made. Controller is not authorized to make decisions to increase or decrease individually, need PM and/or Hughes/Keith authorization. • Consult with AMs relating to the insurance amount associated with customers. • Discuss with AMs current exposure and limits on insurability of customer. • As customer approaches limits (within 1 BT if BT customer or RC for RC customer (know commodity prices for accurate understanding)) - discuss limits with AM and customer aging AR as analysis for recommendation to PM about allowing additional sales. Work with Legal to maintain credit policy and renewals - analysis of existing policy and changes that may need to be made based on existing use and limits.
As the advocate for business credit and financial management professionals NACM and its network of Partners take great pride in being the primary learning, knowledge, networking and information resource for commercial creditors nationwide.