Eaton Corporation Accounts Receivable and Credit Manager in Eden Prairie, Minnesota
Eaton’s Hydraulic division is currently seeking a Accounts Receivable and Credit Manager to join our team. This position is based at our Eden Prairie, MN facility.
The primary function of the credit manager is to oversee the accounts receivable portfolio for the Americas region and provide leadership to the Credit Department staff. The key objective is to maximize the profit and cash flow for the company by ensuring that the overall investment in accounts receivable and bad debt losses are maintained at the lowest practical level. Critical success factors for achieving these objectives are:
Develop appropriate credit policies and procedures and ensue alignment with corporate directives, business strategies and current economic and market conditions.
Understand all applicable laws and statutory requirements pertaining to B2B collections, credit assessment and risk mitigation
Maintain a highly productive, experienced and motivated organization utilizing effective management tools (performance measurement, skills assessment and training, process training, teaming).
Establish a constructive and professional relationship with both internal organizations and external customers as enablers to successful job performance
Making what matters work at Eaton takes the passion of every employee around the world. We create an environment where creativity, invention and discovery become reality, each and every day. It’s where bold, bright professionals like you can reach your full potential—and where you can help us reach ours.
In this function you will:
Develop and implement the strategic plan for the credit department in alignment with the Hydraulics Americas Region strategy.
Create and implement Americas credit processes; identify risks and opportunities based on the company’s business strategy and market conditions
Evaluate and structure credit, collection, and deduction resolution teams and create and implement Americas collection systems and processes
Implement sound accounts receivable policies and procedures that improve the overall health of the business by maximizing sales and minimizing bad debt losses.
Review collection reports to ascertain status of collections and balances outstanding and to evaluate effectiveness of current collection policies and procedures.
Provide data analysis to Sector Controllers for provisions for bad debt losses, claims, and rebill invoices to ensure adequate reserves.
Advise financial management on major customer exposures and risks. Recommend and implement action plans to minimize financial risk and loss while maintaining customer relationships and highest practical sales volumes.
Analyze customer deductions associated with rebates, returned material and pricing to determine validity. Re-invoice un-allowed deductions with sufficient explanation to collect immediately.
Develop and implement goals, objectives and metrics across the department in line with corporate directives. Develop corrective actions as needed for metrics not meeting goal.
Maintain effective communication of credit policy and procedures between customers, sales, marketing and finance.
Establish strong, proactive partnerships with other corporate departments within the organization to minimize bad debt losses and improve service to our customers.
Provide leadership, training, mentoring, and performance evaluations with all members of the department.
Create a culture of continuous improvement. Implement a low cost country strategy in order to drive improved cash flow and limit risk while maintaining overall financial integrity.
Continue to assess, select and develop department staff and credit management personnel.
Initiate field visits with internal and external customers and critical credit associations to foster good relations along with counseling financially distressed customers.
Continually measure and evaluate existing customer payment performance to validate appropriate credit lines and terms.
Partner with legal, operations and sales departments regarding contract negotiations.
Provide management with reports related to the areas of responsibility and analyze and interpret results versus prior periods and goals. Provide corrective action plan for underperforming metrics.
Ensure all applicable laws and statutory requirements are followed and adhered to pertaining to credit, collections and reporting
Ensure proper adherence to internal control processes and compliance to Sarbanes Oxley
Ensure proper sales tax & escheatment (Unclaimed Property) compliance with individual states/localities.
When we embrace the different ideas, perspectives and backgrounds that make each of us unique, we — as individuals and as a company — are stronger.
Required (Basic) Qualifications:
Bachelor’s Degree from an accredited institution
Minimum five (5) years of accounting, finance and/or credit experience
Minimum two (2) years of manager of people experience
Legally authorized to work in the United States without company sponsorship
No relocation is offered for this position. All candidates must reside within 50 miles of Eden Prairie, MN to be considered. Active Duty Military Service member candidates are exempt from the geographical area limitation.
This position requires use of information or access to hardware which is subject to the International Traffic in Arms Regulations (ITAR). All applicants must be U.S. persons within the meaning of ITAR. ITAR defines a U.S. person as a U.S. Citizen, U.S. Permanent Resident (i.e. ‘Green Card Holder’), Political Asylee, or Refugee
- MBA in Finance or Accounting from an accredited institution
Position Success Criteria:
Strong written and verbal communication skills that are effective at all levels of an organization
Demonstrates effective customer service skills
Strong organizational skills
Financial Statement Analysis
General Accounting Principles
Security Transactions (Letter of Credit, Standby LC’s, UCC)
Knowledge of Rebate, Pricing, Shortages, Warranty and Returned Material Process
Knowledge of Order Management and Invoicing Processes
We are committed to ensuring equal employment opportunities for all job applicants and employees. Employment decisions are based upon job-related reasons regardless of an applicant's race, color, religion, sex, sexual orientation, gender identity, age, national origin, disability, marital status, genetic information, protected veteran status, or any other status protected by law.
We make what matters work. Everywhere you look—from the technology and machinery that surrounds us, to the critical services and infrastructure that we depend on every day—you’ll find one thing in common. It all relies on power. That’s why Eaton is dedicated to improving people’s lives and the environment with power management technologies that are more reliable, efficient, safe and sustainable. Because this is what matters.
We are confident we can deliver on this promise because of the attributes that our employees embody. We’re ethical, passionate, accountable, efficient, transparent and we’re committed to learning. These values enable us to tackle some of the toughest challenges on the planet, never losing sight of what matters.
Region: North America – US/Puerto Rico
Organization: HYD Hydraulics Group
Job Level: Manager
Is remote work (i.e. working from home or another Eaton facility) allowed for this position?: No
Does this position offer relocation?: No
Travel: Yes, 10 % of the Time
Eaton is an Equal Opportunity and Affirmative Action Employer. Eaton is committed to ensuring equal employment opportunities for all job applicants and employees. Employment decisions are based upon job-related reasons regardless of an applicant's race, color, religion, sex, sexual orientation, gender identity, age, national origin, disability, marital status, genetic information, protected veteran status, or any other status protected by law.
- Eaton Corporation Jobs