Regional Credit Controller

KONE India is part of KONE, one of the global leaders in the elevator and escalator industry. KONE has been ranked as one of the most innovative companies in the world. Every day, millions of people globally are using our elevators and escalators in an increasingly urbanizing environment. We want to offer the best People Flow experience to those using our equipment in residential and office buildings, hotels, public transportation sites, hospitals, shopping malls and many special buildings

KEY OBJECTIVES OF ROLE:

The RCC role, which reports to the National Credit Controller, will serve as a Centre of Excellence (COE) role with the following key objectives:

• Assist the National Credit Controller in implementing centrally defined KEI policies and procedures associated with the credit control function
• Review on a periodical basis the effectiveness of credit control execution by the branch and regional teams including conducting requisite meetings for the purpose
• Drive various ad hoc initiatives proposed by the National Credit Controller from time to time
• Perform any other tasks as needed from a credit control / AR management perspective

KEY RESPONSIBILITIES:

Regional credit controller assists in ensuring all front-line branches/regions to meet short and long-term objectives and comply with KONE objectives. This position reports to national credit controller.

AR Control

• Implement and monitor centrally defined policies from time to time.
• Conduct periodic reviews (period to be defined) with the branch and / or region finance teams to ensure control and efficacy of the following and drive suitable actions:
• Progress on Target Collections as per monthly Target - Fortnightly
• KONEPAY increasing and sustaining adoption including providing refresher training from time to time to branches (both Customer adoption as well as KONEPAY Lite) - Monthly
• Aged AR dues towards reduction / stabilization of AR % of sales and AR>90 days on % of sales compared to previous year as per Years Target - Fortnightly
• Review with an object of reduction in Retention, TDS & EMD dues - Fortnightly
• Reduction in Advance GL balances (including KONEPAY advances) - Fortnightly
• Targeting Bank Guarantee closures and managing invocation claims - Monthly
• Pending balance confirmations (per policy) and efforts to secure the same - Monthly
• Timely referral of customer accounts to legal per policy and timely initiation of actions by the legal team post referral - Monthly
• Unapplied cash reduction - Weekly
• Quarterly review calls with management on FSCM dispute resolution
• Implementation & adoption of Cheque Drop Box across Branches
• Managing TR development files accuracy which includes but not limited to clearance of Negative balances, Due date discrepancies - Fortnightly

Customer Credit Assessment (model development in progress)

• Assess ongoing creditworthiness of existing customers using past payment history for credit risk control and better cashflow management – Daily/Case-to-case basis
• Leverage Customer Credit assessment model to protect receivables during New Orders, DROs, HOC, AMC renewals

Credit Notes Control

• Enforce timely processing of credit notes through regular monitoring and reviews
• Regularly analyze reasons for credit notes and controlling repetitions
• Invoice cancellations/Credit Memos within statutory timelines to avoid TAX Loss

Other Responsibilities

• Support the National Credit Controller on pan-India analyses and initiatives from time to time
• Support RFM & RD for Collection/Provisions/TR FCS inputs and TR Analysis
• Travel to locations to conduct FCM audit, provide training to teams, and recommend improvement opportunities.
• Assist management for timely identification of risks and recommend corrective action plans, presenting risks & opportunities in monthly rush calls
• Trouble shooting branch queries from a credit control perspective.