Director of Credit and Collections
Lasko Products

Lasko Products, an industry leader of home environment products for over 100 years, is seeking a Director of Credit and Collectionsfor our West Chester, PA headquarters.

The Director of Credit and Collectionsposition will oversee and manage the Accounts Receivable and Credit team to include training, monitoring staff portfolio of accounts, produce and work with aging reports, minimize bad debt exposure, and identify process improvement opportunities.

This position is responsible for the credit processes to include application procedure, creditworthiness assessment, and periodic reviews for a portfolio of customers excluding the Top 25 Customers (based on sales).

Primary Responsibilities

• Oversee the overall Accounts Receivable function as an organization, direct staff and activities on the Financial or Accounting Department that handles income from product sales
• Collaborate with top management to set operational standards and contribute essential information to strategic plans.

• Drive AR Automation project in partnership with IT and third-party software provider
• Understand complex customer programs and ensure appropriate application of discounts, rebates and credits, driving system automation where available
• Manage and oversee document retention

• Monitor all AR Specialist customer portfolio account details for non-payments, delayed payments and other irregularities; directly effects cash flow and company DSO
• Minimize bad debt exposure, maintain aging at an acceptable level, driving accountability in the team to resolve open items
• Determine accounts that should be placed on credit hold for non-payment issues
• Evaluate credit analysis for new and existing customer accounts, running D&B reports, checking credit references, manage credit application software process, setting credit limits and payment terms
• Assist with timely month-end closing including analysis of required reserves
• Provide positive leadership skills by coordinating work efforts, making suggestions for process improvements, streamlining functions and keeping management abreast of any potential workflow problem

• Interact regularly with internal departments to resolve invoicing and deduction issues – Sales, Customer Services, Logistics, IT

Requirements:

• Bachelor's Degree in accounting, finance, or business management
• 12+ years of Accounts Receivable/Credit Management Experience
• Experience building and leading teams
• Experience engaging with C-suite leaders
• Experience using MS Office Suite (Outlook, Excel, Word)
• Experience with HighRadius is nice to have

About the Company

Lasko Metal Products was founded in 1906 by Henry Lasko in Philadelphia. Lasko designs, manufactures, assembles, and distributes portable fans, heaters, and humidifiers for the consumer market (Lasko brand), air purifiers (Germ Guardian brand), ventilation products such as range hoods and bathroom exhaust fans to the construction industry (Air King brand) and water damage restoration products such as air scrubbers and dehumidifiers (B-Air brand).Lasko’s products are sold in North America, South America, the Caribbean, and Asia. The company is recognized as the leader in the portable fan and portable heating categories and proudly operates American manufacturing, assembly, and distribution facilities across the US. Lasko’s leading market share in fans and heaters is 2X – 4X larger than the #2 brand.Lasko’s domestic production capabilities uniquely position Lasko to serve its customers.

Lasko’s Mission is to improve everyday life with trusted products which create a healthier and more comfortable environment. The company’s success is based on 5 Core Values:

• Be Bold:
• Challenge the status quo
• Courageously pursue the impossible
• Reject mediocrity
• Be Together
• Work together for success
• Drive trust and candor with each other
• Prioritize \u0022We\u0022 before \u0022I\u0022
• Be A Leader
• Lead with personal conviction
• Inspire each other to deliver high- quality results
• Leverage resilience and agility to drive excellence
• Be Accountable
• Consistently deliver to our customers
• Embrace commitments as a contract
• Take pride in our actions
• Be The Change
• Demonstrate a passion to win
• Make a difference at work in our communities
• Step forward and take initiative

The Lasko family owned and operated Lasko Products until November 2016, when private investment firms Comvest Partners and JW Levin Management Partners (“JWLMP”) acquired the business. Comvest Partners and JWLMP are committed to growing the business with investments in growth and productivity.

Geographic Reach

Based in the greater Philadelphia, PA area, Lasko Products operates in locations throughout the US and Canada. The company’s Tennessee, Texas, and Pennsylvania manufacturing facilities produce both indoor and outdoor fans and heaters. The company also sources select products internationally from China, Taiwan, Vietnam, Malaysia, and India. Lasko operates distribution centers in all manufacturing locations plus Nevada and Ohio.

Diversity & Inclusion

Comvest and its portfolio companies recruit, employ, train, compensate and promote regardless of race/national origin, gender/gender identification, sexual orientation, age, disability status, veteran status, religious affiliation, and other protected status. We have a clear vision to be the place where diverse talent wants to come, stay, and do their best work. We know our companies run on the hard work and dedication of our passionate and smart employees. We believe that diversity within an organization creates long-term value for the organization itself and its constituents. Comvest and its portfolio companies are high performing organizations that seeks to hire hard-working and dedicated high performers. While Comvest and its portfolio companies always strive to look at a diverse pool of candidates, we will always choose the most qualified candidate for the job being recruited for, in order to strive for success for both the employee and the firm.

#CB

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