AR & Credit Control Supervisor, Richemont, Dubai, UAE

Richemont owns some of the world’s leading luxury goods Maisons, with particular strengths in jewellery, fine watches and premium accessories. Each Maison represents a proud tradition of style, quality and craftsmanship and Richemont seeks to preserve the heritage and identity of each of its Maisons. At the same time, we are committed to innovation and designing new products which are in keeping with our Maisons’ values, through a process of continuous creativity.

MAIN PURPOSE

The AR & Credit Control supervisor has an essential role towards maintaining the organisation healthy cash flow. The role requires building strong relationship with Maisons and clients to ensure a smooth running of the accounts.

The AR Supervisor is responsible in overseeing the day-to-day operations and strategic goals of the accounts receivable cycle across all channels through management, maintenance, implementation, and design of all accounts receivable and credit control policies, procedures and functions of the unit while ensuring Maisons, customers’satisfactions.

Maintain a healthy trade receivable within the targeted DSO
Supervise and ensure timely collection, verification, allocation and recording of transactions, resolve late or skipped payments, and secure client payments
Design and maintain reports with essential information to achieve strategic goals of the company
Build and maintain strong relationships with clients and Maisons to ensure the smooth running of accounts

KEY RESPONSIBILITIES

Management

Oversee the team performance and and lead them to achieving set goals and growth
Define and monitor individual team member’s MBO
Facilitate regular performance assessment and feedback to team members
Hone potentials and institute appropriate measures for non-performing staff
Recruiting and training staff members
Manage workload assignments and delegations of the AR & CC Team; and the required orientation to fulfill assigned tasks and provide support when needed

Accounts Receivable

Oversee the full companies AR and proactively initiate corrective actions
Process, verify, and post receipts for goods sold and services rendered (retail, e-commerce and wholesale)
Maintain records regarding payments and account statuses
Review account information, correct discrepancies, and ensure that accounts are properly billed and that any missed payment issues, gets resolved in a timely manner
Obtain information from Maisons/other departments to ensure records are accurate and complete and that accounts receivable ledgers and journals are up-to-date.
Perform administrative and clerical tasks, such as data entry in SAP, prepare manual invoices or credit notes, send SOA and payment reminders, and contact clients to discuss their accounts
Secure Lettter of Credit from the identified Customers before releasing any sales orders

Perform account reconciliations and maintain accounts receivable files and records
Create and maintain comprehensive ageing and credit reports to Management and/Maisons for appropriate actions/response to matters requiring attention (escalation, blocking, Partner negotiations, etc..)
Investigate and resolving any irregularities or enquiries
Assist in the general ledger analysis of related accounts

Credit Control

Take a proactive role in managing and collecting debts
Propose and support and validate negotiation of repayment plan across all Maisons
Review accounts, client payments, credit history, and work closely with Maisons to manage any risks
Monitor debtor balances to ensure reduction in DSO
Evaluate new credit requests, including checking credit ratings, deciding whether to allow credit to a debtor and advising on credit limits
Manage credit limits, calculate and propose adjustments regularly and when needed to be set-up in the system for automated sales order blocking
Monitor and review hold sales orders, propose authorization of delivery (AOD) to designated approvers
Assess and escalate bad debts
Escalate to the Maison any due amounts requiring payments
Do credit checks for any consignment requests

Other functions

Cash flow forecast: own the receivable part of the forecast in coordination with Maisons, customers and FP&A teams to provide Treasury with reliable estimate
Participate or lead projects and automation (new mode of payments, retail openings, wholesale openings, integrations, etc..)
Lead continuous improvement initiatives for his/her department and encourage the same with peers
Perform regular tests on controls as per ICS requirements
Assist internal and external auditors, implement recommendations (if any), and take corrective action/s when required

STAKEHOLDERS

Finance and Management
Maisons Sales teams and directors
Technical Group or external suppliers teams
Customers
Banks
Auditors

JOB PROFILE

Education

B.Com/ Finance Graduate, accounting certification and qualification is an advantage

Experience

At least 8 years of proven experience in Finance, with at least 3 years experience in managerial position and 5 years experience in Accounts Receivable accounting
Exposure in retail industry would be an advantage

Technical skills / abilities

Solid Accounting background
Good mathematical skills
Good knowledge of UAE VAT
Knowledge of computerized accounting system – especially SAP
International Accounting Standards / IFRS
Excellent knowledge of Microsoft Office software (Word, Excel, PowerPoint, and Outlook)

Personal skills / qualities

Excellent analytical and problem-solving skills
Exceptional attention to detail
Curious and able to challenge the status quo
Can communicate articulately and efficiently with other people
Proactive with strong time-management and ability to prioritize and manage expectations
Compliance mind-set
Credibility and integrity with confidential information
Presentation skills
Confidence to deal with a wide range of stakeholders
Good business acumen