AP & AR Manager

Formulate and maintain sound and constructive credit policies and practices and administer the credit, collection and accounts receivable function in a manner that will promote sales and earnings growth, an acceptable return on invested capital, and contribute substantially to the profits for Ashcroft. Manage the accounts payable function including the payment approval system (ARM) according to approved payment terms.ResponsibilitiesEstablish and maintain business unit credit policies for all domestic sales accounts and all multi-national customers. Communicate directly – verbally, in writing or in person – with corporate officers of customers to expedite on-time payments in accordance with business unit credit payment terms. Direct and supervise Accounts Receivable staff to maintain past due receivable balances at a minimum and within the framework of business unit policy regarding credit extension and payment flow. Carry out specific process improvement and cost reduction initiatives as determined appropriate or as directed. Assemble, coordinate and evaluate new customer inquiries by accumulating and reviewing credit history and financial status of all new customers. Safeguard the assets of Ashcroft with appropriate actions to eliminate and/or minimize bad debt losses and maintain desirable collection statistics for the business unit. Maintain customer information and history to be in a position to make appropriate credit decisions to maintain the integrity of all receivable balances. Prepare timely accounts receivable reports of problem accounts to keep management informed. Act as liaison with Wells Fargo for domestic lock box and all incoming wire transfers. Act as liaison between Accounts Receivable and other departments to process customer complaints and charges to resolve each issue correctly and expeditiously. Provide data to other departments to support the customer complaint and suggest procedural changes necessary to reduce customer complaints and chargebacks. Maintain the appropriate controls over the accounts receivable asset balances. Process all required legal documents incidental to credit collection and accounts receivable including claims under bankruptcy, drafts, letters of credit, etc. Authorize adjusting entries to customer accounts and initiate special payments made directly from these accounts as refunds. Prepare and submit monthly, quarterly and year-end aging of accounts. Ensure timely preparation and mailing of month-end statements to customers. Manage the accounts payable function including ARM and monitor Days Payable Outstanding KPI metric.Maintain strong controls around payments, including ACH payments.Provide requested supporting documentation and explanations internal and external auditors. RequirementsBS degree in Business AdministrationMinimum five years managerial experience in credit and collections or related financial position.Ability to thoroughly and constructively analyze problems and to communicate effectively.Sound working knowledge of ERP systems as it affects credit, collections and accounts receivable.Excellent computer skills including MS excel.Understanding of regulatory requirements and industry standards related to credit analysis.Proven ability to lead change and drive continuous improvement activities.Ashcroft Inc. is an Equal Employment Opportunity Employer.EOE AA M/F/Vet/DisabilityPlease note: The position requires U.S. Citizen, Permanent Legal Resident or granted Asylee/Refugeestatus under the Immigration and Nationality Act.