Executive - Credit Control

Currently we are looking for an experienced Credit Control Administrator to work with the Group’s global Credit Control Team in Gurugram, the Group’s second largest office. The focus of the role will be in supporting the Gurugram based Credit team and formalising processes transitioned from local teams. 

The position will report into the Credit Control Manager and will also form a close working partnership with the Credit Controllers, sales people, Billing team, the Global Process Owners for Credit Control based in London and Regional Finance Gatekeepers in London, New York and Hong Kong.  The role will cover requirements from the group globally, particularly requests from New York and London. As such, while the role is based on local hours (9:00-5:30pm in Gurugram) some flexibility will be required to cover day-to-day contact with colleagues in other global offices.

 

Products and services sold by Group business

The Economist

The Economist sells direct subscriptions to a largely B2C audience on monthly, quarterly and annual renewal cycles collecting cash via Credit card, Paypal, direct debit payment methods. It receives cash from B2C customers sold via 3rd party agents and digital 3rd party e-commerce platforms (e.g. Apple, Amazon, Google). It also sells bulk subscriptions to B2B customers invoiced through Accounts Receivable and one-off print copies of The Economist on the newsstand managed by 3rd party regional distributors in US, UK, EMEA and Asia.

 

Economist Intelligence

Economist Intelligence sells subscriptions to information and content delivered through its website to a B2B audience. These subscriptions are both invoiced to customers on credit terms and sold as one-off purchases of content via an online store. It also invoices individuals and companies for memberships to its Corporate Networks and for Research programmes conducted on behalf of clients.

 

Economist Impact: Partnerships & Events

Economist Impact Partnerships sells Advertising Services and Content used for Marketing and Market Research Purposes to B2B organisations. Advertising is delivered through display adverts in the print and digital editions of The Economist and as web advertising on Economist.com. Advertising is invoiced to clients on credit terms though some advertising is sold using Programmatic exchanges and or through self-billing arrangements on 3rd party digital applications. Content is delivered as Research, White Papers and is invoiced to clients throughout the lifecycle of a content programme. The Economist Impact Events business holds conferences and meetings both in-person and virtual and generates sales from sponsorship, exhibitor packages and from delegate fees. Sales are either invoiced on credit terms or are sold via an event booking system where delegates pay by credit card.

All the above revenue streams are sold as part of Group sales where clients contract with the Group to deliver global media campaigns that bundle the group’s products and services. The Group makes sales to many countries worldwide from legal entities based in the UK, US, Hong Kong, Singapore, China and Brazil in many different currencies. Where possible sales are made by its global contracting entity.

Key Accountabilities:

Managing client on boarding

• Completing or supporting the commercial teams  in completing vendor supplier forms and questionnaires for new client accounts 
• Coordinate the supply of relevant supporting documentation (tax forms, bank letters or statements, Certificates of Incorporation, VAT Certificates, Residency Certificates and Form MOD.21 RFI) as necessary

Managing client portals including registration for new clients

• Create Portal accounts as part of the client on boarding process where necessary
• Follow up for registration to ensure the account is created and any purchase order requirements to enable billing are fulfilled
• Upload sales invoices into existing or new client portals as required
• Monitoring the payment status for uploaded invoices to liaise with credit controllers

Own Accounts Receivable processing

• Support and process withholding tax balances for clearing
• Work with accounting and billing teams to reconcile Programmatic deals and transaction postings
• Inter Company and Group Sales journaling to the general ledger
• Account Receivable cleansing and matching of receipts
• Journal cross company incoming cash receipts supporting the cashiering team
• Manage cash balances for fees and currency effects that follow on from cashiering postings unable to be cleared by the cashiering team at point of entry
• Manage Accounts Receivable and Accounts Payable Contra transactions (barter deals & Asia circulation accounts)
• Claim manual credit card payments through the credit card virtual terminal
• Manage the administration surrounding Accounts Receivable refunds 

Supporting the Credit Manager and Credit Controllers

• Support the Credit Manager in periodical reporting processes
• Support the Credit Manager and Credit Controllers on any adhoc tasks

Experience, skills and professional attributes:

Education and training

- Strong academics

 

Previous work experience 

- Experience within a credit control team in a commercial organisation, preferably Media industry, understanding core administration tasks requiring focus

- Exposure with hands on experience working with 3rd party client accounts receivable portals

- Supporting multiple business channels with diverse revenue streams

- Working with cross functional finance stakeholder

- Understand accounting principles managing finance postings in an ERP system

Technology

- MS Office, Intermediate to Advanced Excel

- Credit Management system

- ERP (PeopleSoft (preferred))

 

Key skills 

- Good communicator both verbally and in writing

- Developing relationships with internal and external contacts

- Excellent time management

Personal attributes

- Hands-on approach

- Pro-active and responsive

- Consultative and transparent

Interpersonal skills

- Ability to build networks and work with stakeholders and in teams

Performance Measures:

• Minimising open balances at period end
• Processing regular cyclical tasks to schedule
• Working within defined department SLAs

The Economist Group values diversity. We are committed to equal opportunities and creating an inclusive environment for all our employees. We welcome applicants regardless of ethnic origin, national origin, gender, gender identity, race, colour, religious beliefs, disability, sexual orientation, age or marital status.

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