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.
Making what matters work at Eaton takes the passion of
every employee around the world. We create an environment where creativity,
invention and discovery become reality, each and every day. It’s where bold,
bright professionals like you can reach your full potential—and where you can
help us reach ours.
- You will make 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.
- You will assess credit risk, grant credit lines, analyze financial statements, and negotiate payment terms and conditions when warranted.
- You will provide financial order management support to control credit exposure, timely payment, and minimize risk.
- You will provide support and assist in the resolution and clearance of customer deductions from the accounts receivable.
- You will protect organization by adhering to U.S. Rules and Regulations, International Country Regulations, and customer security agreements.
- You will provide customer service and develops relationships with internal/external customer and suppliers.
- You will work closely with dispute resolution team and has final ownership for tracking and correction of root cause issues.
- You will maintain accurate credit and collection files and collection notes. Keep customer accounts current.
- You will market, train, counsel, advise, and communicate credit department policy and procedure to company personnel.
- You will communicate regularly to internal and external customers.
- You will participate in cross-functional company-wide teams to assist in driving quality improvements, processes, and initiatives.
- You will actively participate and communicate in the Team-based work groups that make up the Credit Department.
When we embrace the different ideas, perspectives and backgrounds that make each of us unique, we — as individuals and as a company — are stronger.
Required (Basic) Qualifications:
- Bachelor’s Degree from an accredited institution
- Legally authorized to work in the United States without company sponsorship
- No relocation is offered for this position. All candidates must reside within 50 miles of Eden Prairie, MN to be considered
- 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