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Eaton located in Eden Prairie, MN has an opening for a Credit Analyst.
The Credit Analyst is responsible for performing a financial
review of new and existing customers and extending lines of credit. This
involves establishing a credit limit by assessing the company’s financials,
researching the company’s DNB scores using DNBI software and initiating and
reviewing the company’s credit application. The Credit Analyst may extend lines
of credit up to $250K without additional approvals. Credit limits above $250K
will require management review. The Credit Analyst works to minimize
financial risk to the corporation, maximize Accounts Receivable collections,
assist with order management, provide customer service, reconcile customer billings/statements,
communicate credit department and company payment policies, participate in
process improvement projects, help enhance team performance, and support other
management directives as prescribed. The Credit Analyst must be able to
identify root causes for unpaid invoices and work closely with customers, Sales
Managers and other internal functions to reduce outstanding balances and secure
payments in a timely manner. To be effective in this role one must possess
skills in customer service, problem solving, analysis, and
influence/persuasion. Also, the ability to make financial decisions and
“size-up’ customers from a financial risk standpoint as well as handle
challenging or complex conversations with customers and other internal
functions in a professional manner is necessary.
- Makes calls to collect on large volume accounts receivable accounts. The analyst will determine why invoices are unpaid and follow up with customers to negotiate a plan for timely payment. When a portion of the invoice is paid, determine the reason for the discrepancy and work with internal contacts (e.g. the plants, customer service, sales, and/or pricing) and negotiate with external customers to secure appropriate payment.
- Assesses credit risk, grant credit lines, analyze financial statements, and negotiate payment terms and conditions when warranted.
- Provides financial order management support to control credit exposure, timely payment, and minimize risk.
- Provide support and assist in the resolution and clearance of customer deductions from the accounts receivable.
- Protects organization by adhering to U.S. Rules and Regulations, International Country Regulations, and customer security agreements.
- Provides customer service and develops relationships with internal/external customer and suppliers.
- Works closely with dispute resolution team and has final ownership for tracking and correction of root cause issues.
- Maintains accurate credit and collection files and collection notes. Keep customer accounts current.
- Markets, trains, counsels, advises, and communicates credit department policy and procedure to company personnel.
- Communicates regularly to internal and external customers.
- Participates in cross-functional company-wide teams to assist in driving quality improvements, processes, and initiatives.
- Actively participates and communicates in the Team-based work groups that make up the Credit Department.
- Bachelor’s Degree from an accredited institution
- Legally authorized to work in the United States without company sponsorship
- Must reside within 50 miles of Eden Prairie, MN
- 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
- Previous credit and collection experience
- Previous project management experience
- Financial statement analysis
- Risk analysis
- Negotiating skills
- Excellent writing and communication skills
- Public speaking skills
- PowerPoint presentation skills
- Microsoft Office Products, Internet, and related computer skills
- Working knowledge of Letter of credit and other export credit security functions
- Commercial sensitivity, business acumen, and good judgment
- Customer service skills
- Legal and security claim knowledge
- Ability to understand Value Stream Mapping, lean manufacturing, Six-Sigma, process improvement skills and knowledge
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: Entry Level
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