Overview
The Director of Credits and Collections plays a crucial role in ensuring that IPG receives prompt payment for its products, applies payments from key clients, reconciles accounts for accuracy, negotiates settlements, and prepares payment forecast reports to manage cash flow. This role is also responsible for managing the Credit and Collections department by setting clear expectations for the team and holding everyone accountable for their performance.
Other Responsibilities and Duties
- Process payments and returns from major customers (e.g., Amazon, Ingram, Barnes & Noble)
- Verify accuracy of statements and accounts through reconciliation
- Resolve any outstanding issues by negotiating settlements with clients
- Ensure prompt payment collections from clients
- Prepare payment forecast reports to help manage cash flow.
- Set objectives for the accounts receivable team and provide guidance and support.
- Create and implement credit and collections policies and procedures that align with your organization's objectives.
- Evaluate and report on key performance metrics such as DSO, accounts receivable aging, negative publisher balances, and bad debt expense.
- Collaborate with other departments, such as Sales and Customer Service, to address credit and billing issues regarding Sub-Rights, Bookfair, Print+, pricing and discount issues, etc.
- Keep current with industry trends and best practices in credit and collections.
Qualifications
- Bachelor's degree in business, finance, or a related field.
- Experience in the publishing industry a plus.
- 7+ years of experience in credit and collections, with at least 3 years in a leadership role.
- Strong knowledge of credit and collections principles and practices.
- Excellent analytical and problem-solving skills.
- Strong communication and interpersonal skills.
- Proven ability to lead and motivate a team.
- Proficient in Microsoft Office and experience with credit and collections software.
- Familiarity with relevant laws and regulations, such as the Fair Credit Reporting Act and the Fair Debt Collection Practices Act.
Note: This job description is not exhaustive and may be subject to change based on the needs of the organization. This is a hybrid position.
About the Company
IPG is the original independent distributor of books, eBooks, and audiobooks from publishers around the world, and a top 10 supplier of book content to Amazon.com, Barnes & Noble, independent bookstores, libraries, and specialty markets, in addition to thousands of retailers globally.
Established in 1971, Independent Publishers Group (IPG) was the first organization specifically created for the purpose of marketing titles from independent presses to the book trade. IPG was acquired by Chicago Review Press in 1987. In the fall of 2006, Chicago Review Press, Inc., the parent company of IPG, bought Trafalgar Square Publishing, Inc., the leading North American distributor of UK publishers. Trafalgar Square Publishing was founded in 1973 and as a division of IPG, now distributes products from clients such as Penguin Random House UK, Australia, New Zealand, and China; Allen & Unwin; The History Press UK; Amberley Publishing; HarperCollins UK; Pan Macmillan; and John Blake.
With consistent growth each year, IPG’s success has come from supporting and encouraging the growth of its client publishers in the United States and worldwide. IPG has a wide reach in the market with its distribution of publishers with academic, Spanish-language, children, and general nonfiction and fiction titles.