Deputy manager credit controller

SKF started its operations in India in 1923. Today, SKF provides industry leading automotive and industrial engineered solutions through its five technology-centric platforms: bearings and units, seals, mechatronics, lubrication solutions and services. Over the years the company has evolved from being a pioneer ball bearing manufacturing company to a knowledge-driven engineering company helping customers achieve sustainable and competitive business excellence.

SKF's solutions provide sustainable ways for companies across the automotive and industrial sectors to achieve breakthroughs in friction reduction, energy efficiency, and equipment longevity and reliability. With a strong commitment to research-based innovation, SKF India offers customized value-added solutions that integrate all its five technology platforms. To know more, please visit: www.skf.com/in

About Industrial Markets

The industrial market in India is a dynamic and rapidly evolving sector that plays a crucial role in a company’s economic growth, with the manufacturing sector being the most diverse and promising. Industrial customers aim to improve operational efficiency while prioritising quality, reliability, and value collaborations that demonstrate a commitment to customer satisfaction and address their evolving needs.

At SKF, we provide industry-leading engineering solutions and technologies to industrial market that consistently deliver reliability and efficiency in their day-to-day operations. We cater to a range of industrial sectors, including heavy industries, wind, metals, railways, and general machinery, and help customers achieve their key objectives, depending on their specific application needs and challenges around the machines and equipment.

SKF Purpose Statement

Together, we re-imagine rotation for a better tomorrow. By creating intelligent and clean solutions for people and the planet

JOB DESCRIPTION

Position Title: Credit Controller
Reports To: India Industrial Controller
Role Type: Individual Contribution
Location: Pune

Purpose

Key role to support the financial stability of the unit by improved cash flow planning.

Key Responsibilities

Mainly Responsible for managing the Receivables and the day to day internal control. The activities under this include:

• Plan and execute monthly collection targets
• Streamline Order to Cash process by clearly defining SOP and timelines.
• Monitoring of all ageing reports; track collections pan India
• Conflict resolution and managing reconciliations
• Cross functional representation to customers from financial perspective
• Advise on credit limits and new requests for credits and payment terms
• Manage the Credit hold process
• Approve the Product credit notes
• Evaluate and analyse bad debts risk
• Liaise with Central Finance for timely and accurate accounting of collections
• MIS reports on Receivables
• Maintenance of Security Deposits and Bank Guarantees for the Unit.
• Control and management of Letter of credits pertaining to the Unit.
• Dealers Incentive Schemes Monitoring and Pay outs; Governance between SKF & AID
• Coordinate and support in all Internal, External and Tax Audits
• Accounts payables management for the Unit.
• Service Invoicing for all Services.
• Accounting entries of the Unit (including relevant journal vouchers)
• Monthly reporting into SKF’s reporting module. (EPM)

Key Performance Indicators

• Ageing of Receivables as per SKF’s norms - monthly
• DSO - monthly
• Reserve for Doubtful Debts (RDD) - monthly
• Credit limit review. – per year
• Audit conformance measures and total compliance.

Education & Experience

CA, ICWA or MBA in Commerce/Finance. Additional management degree in Finance/Tax would be desirable.
Experience of overall 8-10 yrs with not less than 5 years in Credit control and Receivables management in MNCs/large corporations handling Pan India operations of both OEMs and Distributors.
Good understanding of finance systems/ERP
Independent working abilities and good collaboration skills in cross functional teams
Additional knowledge of Banking operations and credit management

Key Competencies

• Business Acumen and Financial Knowledge
• Business Planning and forecasting experience and ability to understand various financial metrics
• Knowledge of Financial systems (SAP and Power BI)
• Strong knowledge of Tax (GST)
• Market dynamics and customer behaviour pattern across various segments; both OE and Distribution