Senior Manager, Credit & Collections at Life Fitness

| Northwest Suburbs
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An empty treadmill isn’t compelling, but once someone steps on it, the stories are limitless. Our goal is to connect people emotionally to their fitness journey. We are a global team coming from different cultures and backgrounds with a shared passion to achieve and live our mission of inspiring healthier lives.

 

Inspire. Innovate. Make an impact and join our team!

 

The Senior Manager, Credit & Collections, leads and manages Life Fitness' Credit and Collections for both commercial and consumer segments. This individual will implement best practices to maximize performance and efficiency of our team's credit and collections processes. This includes applying thorough credit evaluation processes to maximize sales while managing bad debt; and, standardizing collection procedures to efficiently utilize staff resources and maximizing collection velocity.

 

The role is responsible for the Americas and reports to the Senior Director of Global Customer Finance.

 

Primary Responsibilities:

  • Create, adjust and enforce credit policies and procedures. Identification of highest risk areas and create credit processes to minimize downside while enabling sales. Developing thorough credit reviews for largest exposures and present to management for evaluation. Create credit scoring models for specific customer channels and implement process as appropriate

  • Identify key credit metrics of customers to ensure liquidity and profitability are known when evaluating a key credit exposure. Ensure proper financial statement disclosures are provided by customer commensurate with credit exposure/risk.

  • Thoroughly train staff on department credit and collections policies and procedures, adjusting and refreshing regularly and validating compliance. Actively manage staff regularly to ensure message is clear and success is attained. Provide regular systems training to ensure staff is utilizing the system to the fullest potential

  • Set and manage credit limit approval levels for customer credit exposures

  • Manage largest exposure/potential downside/difficult credit accounts to ensure receivables protected appropriately

  • Ensure equipment is secured with appropriate UCC filing when substantial risk/exposure exists

  • Maximize staff capabilities by utilizing their skills best to fit the demands of the customer channel. Regularly review staff performance, providing feedback to develop and grow capabilities

  • Effectively utilize Oracle system and supporting systems to create efficiencies and eliminate waste. Identify software solutions that will increase effectiveness and efficiency for the staff

  • Continuously review performance and adjust where appropriately installing/refresh best practices

  • Create and install collections processes using key levers to increase velocity including leveraging order holds, Dunning Letters, late fees and third-party collection agency usage

  • Monitor staff performance of collections by identifying key metrics and regularly evaluating performance against those standards. Large exposures and high risk/delinquencies will be prioritized to maximize velocity/collections. Perform regularly monthly meetings with staff on collections of accounts to ensure progress and proper escalation/handling and staff engagement

  • Perform collections on accounts escalated by staff members where appropriate

  • Constantly review staff’s workload (channels, number of accounts, number of invoices, types of invoices, etc.) and business demands to ensure that resources are allocated effectively

  • Identify issues effecting credit and collections personnel and work with cross functional areas (Order Management, Sales, Service, Order Fulfillment, Accounting, etc.) to ensure that effective solutions are implemented. Keep open lines of communication with cross functional areas to better understand how they affect the customer and the performance of Customer Finance

  • Develop key metrics and goals for collections staff to manage their monthly performance (i.e. DSO, % past due, > 90 days past due, > 180 days past due, bad debt, etc.)

  • Present status of the portfolio and new developments to Senior Management monthly

  • Ensure that proper documentation and support is provided in all legal actions. Report monthly status on each case. Manage process for seriously delinquent accounts and make sure that they are written off timely, if appropriate

  • Review all requests for short-term note receivables (less than 12 months) and ensure that promissory notes, security agreements and UCC filings are executed to protect the equipment

  • Present delinquency and potential losses to accounting quarterly to allow for accurate bad debt reserve

  • Assist with International subsidiary credit/collections best practice training/implementation and support

 

Qualifications:

  • 10 years of experience in a Credit Management capacity, with at least 5 years leading complex, commercial credit and collections processes

  • Demonstrated track record advocating for change, implementing sustainable best practices and engaging cross-functionally in a global, complex finance organization

  • Previous experience managing towards key performance objectives, developing and mentoring direct and indirect reports, ideally with background managing geographically distributed teams

  • B.S. in Finance or Accounting required

  • M.B.A. preferred

  • Previous experience with Oracle is preferred

  • Advanced proficiency in Excel a must

 

 

 

Want to take the next step in your career?

 

Life Fitness takes pride in our talented employees and believe in providing opportunities for further growth and advancement. We encourage you to test your strengths, push your limits and unleash your potential.

 

If you feel the open position you see is right for you, we invite you to apply.

 

Learn more about us here.

 

Life Fitness does not accept applications, inquiries or solicitations from unapproved staffing agencies or vendors.

Equal Opportunity Employer: Minorities/Women/Protected Veterans/Disabled

EEO is The Law - click here for more information

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Technology we use

  • Engineering
  • Product
  • Sales & Marketing
    • C++Languages
    • JavaLanguages
    • AndroidLanguages
    • AngularJSFrameworks
    • Backbone.jsFrameworks
    • Node.jsFrameworks
    • Microsoft SQL ServerDatabases
    • OracleDatabases
    • Google AnalyticsAnalytics
    • IllustratorDesign
    • PhotoshopDesign
    • SolidWorksDesign
    • JIRAManagement
    • DrupalCMS
    • SalesforceCRM
    • PardotCRM
    • MailChimpEmail
    • Oracle EloquaLead Gen

Location

10601 Belmont Avenue, Franklin Park, IL 60131

An Insider's view of Life Fitness

What projects are you most excited about?

Life Fitness On Demand is a digital library of instructor-led classes streamed on our app and cardio equipment. Collaborating with the brightest minds at Life Fitness, I've led and seen it grow from conceptualization to product launch. I am excited as we continue to enhance the in-workout user experience and integrate new technologies.

Arturo

Director, Product Development

How has your career grown since starting at the company?

I’m proud to say that my career has shown consistent progression over the last two decades. In college, I began my journey as a part-time office admin and am now one of our IT leaders. I held various analyst roles within the business and IT. My growth has been truly influenced by some amazing leaders who saw my potential and supported me.

Deanna

Director, Business Solutions

What are Life Fitness Perks + Benefits

Culture
Volunteer in local community
Friends outside of work
Eat lunch together
Intracompany committees
Daily sync
Open door policy
Team owned deliverables
Team based strategic planning
Group brainstorming sessions
Diversity
Documented equal pay policy
Unconscious bias training
Diversity Employee Resource Groups
Hiring Practices that Promote Diversity
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Life Fitness employees have access to an FSA
Disability Insurance
Dental Benefits
Vision Benefits
Health Insurance Benefits
Life Fitness' health insurance policy covers some out of pocket expenses.
Life Insurance
Wellness Programs
Onsite Gym
Team workouts
Life Fitness offers team fitness initiatives including in-office yoga, in-office fitness classes, and sponsored race teams.
Retirement & Stock Options Benefits
401(K)
401(K) Matching
Performance Bonus
Child Care & Parental Leave Benefits
Generous Parental Leave
Flexible Work Schedule
Life Fitness provides employees with a flexible work schedule that includes summer hours, flexible start and end times.
Remote Work Program
Our remote work program includes work from home and the ability to work remotely on occasion as needed.
Family Medical Leave
Adoption Assistance
Company sponsored family events
Life Fitness sponsors family oriented events annually.
Vacation & Time Off Benefits
Generous PTO
Paid Holidays
Paid Sick Days
Perks & Discounts
Casual Dress
Game Room
Our game room includes ping pong, a pool table, foosball, shuffle board, and darts.
Happy Hours
Happy hours are hosted on occasion.
Parking
We offer employees free on-site garage parking.
Recreational Clubs
Relocation Assistance
Fitness Subsidies
Free onsite gym at all office locations.
Professional Development Benefits
Job Training & Conferences
Tuition Reimbursement
Diversity Program
Lunch and learns
Life Fitness hosts lunch and learn meetings on occasion.
Cross functional training encouraged
Promote from within
Mentorship program
Paid industry certifications
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