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NAM Credit and Deductions Senior Manager

Parsippany, NJ

Ferrero is a family-owned company with a truly progressive and global outlook and iconic brands such as Nutella®, Tic Tac®, Ferrero Rocher®, Raffaello®, Kinder Bueno® and Kinder Surprise®. As the love for our brands continues to grow, so too does our global reach. Represented in 55 countries, with products sold in more than 170, the Ferrero Group is loved by generations around the world. The secret to our global success? Nearly 35,000 dedicated employees who celebrate care and quality to craft a business, careers and brands we are proud of. Join us, and you could be one of them. 

About the Role:

This position oversees all Credit activities for the legal entities to comply with Group Policy and Insurance Compliance: collection, cash application, deduction management. It develops best practices using existing and new systems as well as improving the existing SAP ERP System.

Manages the risk profile of all customers through careful evaluation of their financial standing, handling third party insurance as well as credit limits in the systems

Spearhead and lead the companies Vendor Compliance Initiative managing all claims received.

It ensures compliance with Group policies and is responsible for implementation of the new ones as well as recommend improvements to current processes.


Main Responsibilities:

Credit Management

  • Oversee Collections activities to meet company KPI’s on Bad Debt, Cash flow, & DSO
  • Oversee Cash Application activities to ensure integrity of proper application to customers remittance advise
  • Supervises monthly closures and ensures the respect of deadlines

Deduction Management

  • Manage deductions teams to ensure proper research and validation.
  • Develop proactive measures to reduce the inflow of erroneous deductions



Reporting / Controls

  • Prepares Credit reporting in compliance with Group requirements and deadlines
  • Establishes KPI and targets for collection and track the performance of DSO, ageing
  • Ensure data integrity between interface of different systems
  • Review of all variances between actual and standard and investigate large variances with targets.
  • Develop best practices using High Radius tools as well as improving the existing SAP ERP System



Governance Risk and Compliance

  • Ensure the deployment of Group internal audit rules (at local level), included in the GRC program (Governance Risk Compliance), as well as assure the compliance with legal constraints in order to safeguard Company assets and avoid dishonest behaviors.
  • Assist on documentation to maintain corporate governance requirements and records

External and Government Audits

  • Provide information to Audit firm for completion of Year End Audit
  • Provide information to Audit firm for completion of Corporate Tax
  • Responsible for completion of Government audits

Risk Management

  • perform creditworthiness evaluation for all new customers, according to the Group methodologies by adopting external and internal ratings, turnover, and seasonal payment reliability
  • Manages the Credit limit in the system for customers

Personnel Management and Development

  • Responsible for managing people assigned
  • Recruits, manages, motivates, coaches and develops own team
  • Develop and ensure a personnel management system based on identification of the Group’s values, motivation, and development of competence for all related positions in order to maximize results and business competitiveness within the department
Who we are looking for:

Knowledge of financial and management accounting

Knowledge of U.S. GAAP and IFRS

Knowledge of ERP and reporting systems (High Radius)

Ability to enforce administrative financial control systems, policies and procedures

Ability to gather data, compile information and prepare reports

Strong Leadership skills

How to be successful in the role and at Ferrero:

Consumers, quality and care are at the heart of everything we do. So, to be successful at Ferrero, you’ll need to be just as consumer and product centric as we are - dedicated to crafting brilliant results for consumers around the world. 

Nearest Major Market: New York City
Nearest Secondary Market: Newark