The position is responsible for directing the daily operations of ScanSource, Inc.’s (“ScanSource”) Reseller Financial Services (“RFS”) team in North America (Canada and the United States) in a manner that increases customers’ purchasing power, optimizes customers’ cash flow, and maximizes ScanSource’s sales opportunities while positively impacting ScanSource’s balance sheet and income statement within acceptable risk parameters. The Director will also assist in the overall planning and implementation of department strategies and goals and work to create a center of excellence for business intelligence, underwriting and collection activities by recruiting, developing and retaining talented employees.
The individual will evaluate the effectiveness of current policies and procedures and maintain strong internal controls and compliance with ScanSource’s guidelines and procedures, in addition to commercial credit laws. The individual will possess strong financial analysis skills and utilize their experience to drive productivity and results that benefit the customer and ScanSource. The person in this position must demonstrate effective leadership skills and the ability to coach and mentor RFS Managers and team members to drive performance in customer service, customer relationship management, team management and account management. This highly motivated individual must be able to implement change and have a positive impact on the team.
Essential Job Duties:
Accounts Receivable Investment
Direct the overall accounts receivable portfolio performance for North America (Canada and United States) within acceptable risk levels and manage the utilization of resources so as to achieve department and corporate goals.
- Measure effectiveness of portfolio management and performance against predetermined acceptable levels on a periodic basis as determined by the Executive Director and Vice President of Worldwide RFS. Measures to be evaluated include but are not limited to:
- Percentage of accounts receivable portfolio investment outstanding beyond approved payment terms.
- Bad debt losses as a percentage of total accounts receivable portfolio investment.
- Implement tools, processes and procedures that promote effective and efficient Days Sales Outstanding (“DSO”) management in order to optimize balance sheet working capital resource consumption.
- Communicate and ensure an understanding amongst the team of the consumption of equity resources that ScanSource maintains in accounts receivable and the cost of that investment as it relates to shareholder value.
- Guide the RFS team in negotiations with customers to obtain additional collateral or security in support of extensions of trade credit when necessary. Collateral or security options include, but are not limited to, secured positions in ScanSource inventory, proceeds and accounts receivable derived from sale of inventory, corporate guarantees, cross-corporate guarantees, personal guarantees and mortgages on fixed assets. Additionally, provide innovative solutions in order to enhance ScanSource’s credit position when normal security alternatives are unavailable.
- Direct the RFS team in providing business intelligence to sales units on the impact of extended terms on ScanSource’s margins and working capital in order to help balance business unit growth objectives.
Leadership and Teamwork
The Director will exhibit confidence in self and others. The individual will inspire and motivate others to perform well, effectively influence actions and opinions of others, give and accept feedback, deliver appropriate recognition, be a decision-maker and look for ways to encourage team growth.
- Direct the performance of RFS Managers and establish goals aligned with ScanSource and RFS. Provide written guidelines and procedures with instruction, information, and education to enable RFS Managers and the team to be successful.
- Provide direction and training to RFS Managers and team members through daily interaction on business issues and in organized group settings (e.g., department meetings, training sessions).
- Ensure compliance with guidelines and procedures in adherence to Sarbanes-Oxley requirements and work cooperatively to address and resolve any potential findings.
- Direct and encourage team members to implement process improvements and achieve annual business goals.
- Give continuous feedback to RFS team members. Deliver mid-year, annual staff performance reviews for RFS Managers, and guide employees through an Individual Development Plan for long-term career growth.
- Set an example for the RFS team by putting the needs of the team above one’s own interests and demonstrating a strong work ethic and positive attitude.
- Communicate, collaborate and coordinate with the RFS management team to ensure consistency within the team.
Customer Account Management
Direct the administration and coordination of customer accounts and monitor risk within ScanSource’s accounts receivable portfolio.
- Approve pending orders within predetermined time periods and underwriting authority and ensure that the orders comply with agreed terms of sale.
- Interact extensively with all ScanSource sales unit executives and personnel, and customers’ executives and personnel to assist in identifying key customers for credit extension for revenue growth and expansion.
- Maintain control of past due accounts receivable investment through consistent and timely follow-up with RFS team and all ScanSource sales unit personnel, while exercising sound business judgment when evaluating revenue opportunities to marginal risk customers.
- Communicate with RFS team members and ScanSource’s sales unit personnel, customers’ executive team and personnel in order to resolve past due balances, discrepancies and underwriting issues.
- Properly document customer accounts with detailed information for adequate and efficient back-up coverage (i.e., activity log, GetPaid).
- Authorize and coordinate workout options and solutions for seriously delinquent customers.
The Director is responsible for directing strategic day-to-day management of customer account underwriting and must be able to develop strong customer relationships. The individual in this position will work to understand the customer’s business needs and collaborate with the RFS and Sales teams to ensure the development and implementation of relationship, analytical and technical solutions.
- Analyze creditworthiness of customers to determine acceptable levels of risk. Underwrite and approve aggregate credit extension within approval authority and make recommendations for aggregate credit extensions above the Director-level authority level for approval.
- Understand customers’ financing needs and leverage resources available from ScanSource and third-party financial vendors to augment underwriting in excess of the customer’s approved Trade Credit Limit.
- Engage and update appropriate sales unit personnel as necessary.
- Ensure a high degree of accuracy, consistency, confidentiality and timeliness when analyzing financial statements, writing a financial review and completing RFS forms.
- Coordinate activities with available resources (e.g., Sales, Collateral Specialist, Legal Department, Account Recovery Coordinator, etc.) to mitigate risk and enhance sales opportunities.
- Participate in the development of RFS financial tools, including but not limited to, areas involving financial analysis, benchmarking, alternative financing solutions, expanding customers’ purchasing power, optimizing customers’ cash flow and increasing the overall efficiency of the department.
Build strong business relationships with customers and gain an understanding of the customer’s business model and financial requirements. Expand financial value-added services that maintain business relationships through constant communication with customers’ executives and departments within ScanSource.
- Periodically review and present options that increase the customer’s purchasing power, optimize the customer’s cash flow and maximize ScanSource sales opportunities.
- Work in partnership with sales, marketing, business development and operations to develop customer management strategies, resolve business matters, and discuss customer account status.
- Interact extensively with all ScanSource sales unit executives and personnel, and customers’ executives and personnel to negotiate transactions and communicate underwriting decisions.
- Provide customers with feedback on market trends in their business and provide information to customers concerning best practices in the industry.
- Gather industry and competitive information to understand trends and best practices. Occasionally attend trade shows to interact with customers and sales to understand challenges and implement solutions.
Business Process Efficiencies
Assist with the development and implementation of process improvements to promote efficiencies and improve customer experience.
- Rethink, redesign and implement business processes to achieve improvements in service, quality, speed and cost.
- Recommend and execute technology improvements to drive productivity.
- Analyze and make enhancements to processes that are inhibiting the achievement of business needs.
- Encourage and develop business practices to enable ScanSource to advance its competitive position.
Support of Executive Director and Vice President of Worldwide Reseller Financial Services
Assist with the development and achievement of goals as they relate to the worldwide objectives of ScanSource and RFS.
- Forecast bad debt reserves that accurately reflect uncertainty regarding collectability within the accounts receivable portfolio.
- Develop reporting to ensure adherence to RFS guidelines and procedures.
- Manage and control ScanSource’s operating expenses to conform to annual allocation (e.g., personnel cost, equipment purchases, travel expenses).
- Ensure consistency among the RFS team members through constant communication with RFS management and periodic reviews of RFS forms.
Other Duties as Assigned
- This includes any additional responsibilities or assignments not listed within the job description. Regular attendance is an essential function of the Director, RFS Operations North America position.
- Reports directly to the Executive Director of Worldwide RFS
Internal contacts include all business, support and administrative units of ScanSource. External contacts include senior- and mid-level customer personnel and business partners.
- Minimum of a Bachelor degree in accounting/finance/financial management and/or seven to ten years working experience within a credit and financial management discipline.
- Experience in credit, financial analysis, floor planning, leasing, negotiation, team development and management of professionals.
- Excellent written and verbal communication skills and the ability to relate well to all levels of management.
- Strong problem solving, decision-making and timely follow-up skills with demonstrated abilities to work well within defined time constraints and high-pressure situations.
- Organizational skills, time management skills, the highest qualities of leadership, professionalism and teamwork.
- The ability to eagerly adapt to change and assist the team in managing change.
- Strong project management skills and the ability to manage multiple priorities.
- Proficiency in computer software applications (e.g., Microsoft Office, Excel, Word) and the ability to learn enterprise resource planning applications.
- An in-depth understanding of business management environment, financial statement analysis, accounting conventions and specifically industry financial standards and trends.
- Comprehensive understanding in aspects of commercial law including negotiable instruments, bankruptcy law, legal procedures and the Uniform Commercial Code requirements.
- Strong management, coaching and motivational skills.
- A commitment to the center of excellence.
- Financial underwriting and customer relationship experience in distribution environment and/or technology industry.
- Credit Business Associate (CBA), Credit Business Fellow (CBF), and/or Certified Credit Executive (CCE) certifications.
- Flooring planning and/or leasing experience.
- Proficiency in foreign language (Spanish, Portuguese, French, German) preferred.
- SAP Experience
- Ability to sit at a computer terminal for long periods of time.
- Ability to be physically in attendance at workstation at designated company office location during normal business hours designated for this position.
- Ability to travel 5% of the time.
- Ability to lift 10 pounds.