Summary
Operational • Directs and coordinates activities or works engaged in conducting credit investigations and collecting delinquent accounts of customers. • Assigns responsibility for investigating and verifying financial status and reputation of prospective customers applying for credit, preparing documents to substantiate findings, and recommending rejection or approval of applications. • Establishes credit limitations on customer account. • Assigns responsibility for investigation of fraud cases and possible legal action and collection for worthless checks and delinquent bills. • Reviews collection reports to ascertain status of collections and balances outstanding and to evaluate effectiveness of current collection policies and procedures. • Audits delinquent accounts considered to be uncollectible to ensure maximum efforts have been taken before assigning bad debt status to account. • Coordinates with others, including personnel in company branches and credit card companies, to exchange information and update controls. • Reports unfavourable information which may affect a customer’s credit standing so as to allow timely action. • Analyses trends in Accounts Receivable balances or significant changes in payment patterns and to recap major collection problems for the General Manager’s monthly credit meetings. • Knows and observes the credit policies of Hyatt and the hotel and to assist in establishing and compiling clear and well defined credit procedures for all positions in a formal Credit Manual. • Checks daily whether in-house guest balances exceed the house limit for appropriate follow up with the guests. • Follows up on collection of returned checks, credit card charge backs, skipper accounts, late charges, guaranteed no-shows. • Investigates disputed charges and follows up on queries raised by City Ledger customers. • Handles all credit requests from in-house guests. • Provides the appropriate level of professional, courteous and caring service to other employees (internal customers) and other visitors to the division. • Ensures all employees provide a courteous and professional service at all times. • Handles guest and employee enquiries in a courteous and efficient manner, reporting complaints or problems if no immediate solution can be found, whilst feeding back a prompt follow up. • Maintains positive guest and colleague interactions with good working relationships. Administrative: • Receive Credit Applications, make proper and thorough investigation of all references, discuss with the relevant Sales Executive and. where necessary, visit the company premises and make all necessary enquiries to understand the company’s business and financial stability, and make necessary file notes. The questionnaire should be completed when the client is visited, gathering as much of the information as they are prepared to give. • Provide feedback to the company within 2 weeks saying whether or not credit is granted, the amount of credit, and our agreed terms of business. This should include mention of what can trigger the closure of the credit facility. • If credit is granted, determine what steps will be required to maintain excellent terms, and ensure that the correct relationship is developed with the key people in the company from day one. If client adjust their payment terms (e.g. starts paying late or creating problems, Credit Manager will step in and meet with client and sort it out). Follow the agreed standards, e.g. twice a year at least ensure all travel agents are visited. • Ensure that in the first few months of the new credit facility, the client understands how we want the account to be maintained, and that the credit facility is a privilege, which is given by us on our terms, and may be withdrawn at any time if they fail to honour their side of the agreement. • For the overall debtors ledger, classify the credit accounts; e.g. some accounts will pay on a regular basis and need no follow-up, others will not make any effort to pay until they receive a chase-up call. Collection activity needs to be tailor-made for each debtor. • Regular purging of all credit accounts, to identify which companies are not giving enough business to justify the credit facility. • On-going review of the credit limits for all accounts, and highlighting any accounts in excess of the limit. An assessment should be made if there is an on-going situation, as to whether the credit limit should be increased, or the company should be contacted to make more regular payments. • Regularly review the payment history for particular debtors to detect any delay in the regular payment cycle, which might indicate a change in the company’s liquidity; i.e. current assets vs. current liabilities and ability to pay debts on time as they fall due. • Filing of all information, and continuous updating of the information, ensuring the Income Tax compliance on time. • For all reservations which are to be checked out to City Ledger, Reservations clerk checks in Reserve if the company has an assigned AR number, and if it does, authorizes the folio to be charged to City Ledger. Credit Manager to ensure what is in Reserve is always accurate, so any changes (e.g. cancelled or new credit facility) must be communicated immediately to Reservations Centre manager and Reserve must be checked as well once a month. • Chair the weekly Credit Meeting. Review the pre-prepared Excel sheet summary with the comments and ensure that these accurately reflect true situation, check with relevant person any concerns and sort out what can be sorted, finalize summary and distribute so all parties are aware what issues there are for all accounts. Immediately following the meeting, come back and finalize the minutes and send to all. • It is expected that all appropriate actions are already being taken. The purpose of the meeting is not to get instructions for what to do, but to inform the General Manager about what collection activity is being done, and by whom. If the GM is not satisfied with this, he has the opportunity to give alternate instructions. • Review procedures on front desk and in Accounts Receivable with Asst. DOF during the quarterly MOR / internal audit / external audit update. • Be involved with any credit risk from an in-house guest identified by Rooms Division Manager, which will be informed to General Manager, Resident Manager, DOF, Asst. DOF and Credit Manager. • Maintains a complete alphabetical credit file for each account containing all documentation related to the credit research. • Maintains separate updated alphabetical listings of approved credit account holders and non-approved applications, and to circulate these listings to concerned departments. • Issues credit card cancellation bulletins to Front Office and Food and Beverage Outlets. • Maintains on-going detailed documentation of all collection efforts by account for future analysis of a customer’s credit worthiness and to serve as support in the event of a bad debt write-off. Financial • Ensures that all hotel, company and local rules, policies and regulations relating to financial record keeping, money handling and licensing are adhered to, including the timely and accurate reporting of financial information. • Focuses attention on improving productivity levels and the need to prudently manage utility/payroll costs within acceptable guidelines ensuring optimum deployment and energy efficiency of all equipment. • Ensures new technology and equipment are embraced, improving productivity whilst taking work out of the system. People • Assists in the recruitment and selection of Finance employees when necessary. Ensures that hotel guidelines are adhered when recruiting and use a competency-based approach to selecting employees. • Assists to oversee the punctuality and appearance of all Finance employees, making sure that they wear the correct uniform and maintain a high standard of personal appearance and hygiene, according to the hotel and department’s grooming standards. • Maximises the effectiveness of Section Heads by developing each of their skills and abilities through the appropriate training, coaching, and/or mentoring. • Assists to conduct annual Performance Development Discussions with Director of Finance when required and supports employees in their professional development goals. • Plans and implements effective training programmes for employees in coordination with the Training Manager and Departmental Trainers. • Encourages employees to be creative and innovative, challenging and recognising them for their contribution to the success of the operation. • Supports the implementation of The People Philosophy, demonstrating and reinforcing Hyatt’s Values and Culture Characteristics. • Ensures that all employees have a complete understanding of and adhere to employee rules and regulations. • Ensures that employees follow all hotel, company and local rules, policies and regulations relating to fire and hazard safety, and security. • Assists to feedback the results of the Employee Opinion Survey and to ensure that the relevant changes are implemented. • Through hands-on management, supervises closely all General Account Clerks in the performance of their duties in accordance with policies and procedures and applicable laws. Other duties • Is knowledgeable in statutory legislation in company and taxation laws. • Ensures high standards of personal presentation and grooming. • Exercises responsible management and behaviour at all times and positively representing the hotel management team and Hyatt International. • Maintains strong, professional relationships with the relevant representatives from competitor hotels and other organisations, especially travel agencies, local business groups and airlines. • Responds to changes in the Finance function as dictated by the industry, company and hotel. • Reads the hotel’s Employee Handbook and have an understanding of and adhere to the hotel’s rules and regulations and in particular, the policies and procedures relating to fire, hygiene, health and safety. • Attends all training and meetings as required.
Qualifications
Someone who delivers quality work on time and ensures team work to consistently produce quality outcomes. Someone who creates realistic action plans consistent with hotel objectives and acts in a timely and decisive manner to keep work on track. Someone who works effectively across teams and functions and supports team decisions. Someone who listens to others empathetically and communicates messages effectively, verbally and in writing.
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