Credit manager

Company Description

Fairmont Hotels & Resorts is a renowned luxury hotel brand with a global presence and a commitment to creating lasting memories for our guests. With over 30,000 colleagues worldwide, we are dedicated to delivering exceptional service, fostering a culture of excellence, and making special happen.

Hotel Overview:

Located in the heart of downtown Fairmont New Orleans will be an impressive new addition to Fairmont’s luxury portfolio, offering 250 luxury guest rooms, four food & drink venues, a rooftop pool with expansive views of the city, more than 19,000 square feet of function space, and a 10,000 square-foot spa.

This property is destined to become an illustrious destination in the Central Business District, nearby the city’s renowned and historic French Quarter.

The Credit Manager is responsible for leading the review, coordination, and reconciliation of all guest and group billing activities, ensuring accuracy, timeliness, and a seamless experience for our clients. You will foster a culture of accountability, collaboration, and operational excellence while supporting the hotel in achieving financial objectives and delivering exceptional guest experiences.

Summary of Responsibilities:

Reporting to the Assistant Director of Finance & Business Support, responsibilities and essential job functions include but are not limited to:

• Establish clear expectations, monitor progress, and drive accountability within the AR function.
• Build and lead a high-performing Accounts Receivable team through coaching, training, and performance management.
• Consistently offer professional, engaging, and service-oriented leadership.
• Assist the Assistant Director of Finance & Business Support with the analysis and interpretation of financial data and its communication with the operations.
• Manage and continuously monitor the Accounts Receivable aging to ensure timely collection and minimize bad debt exposure.
• Enforce hotel credit policies including credit approvals, credit checks, and billing procedures in line with internal receivables requirements.
• Lead debtor monitoring processes including invoicing, follow-ups, reconciliations, credit notes, and write-offs.
• Ensure all invoices (group, corporate, and transient) are issued accurately and within required timelines per policy.
• Monitor and reconcile guest loyalty program related to operations.
• Take appropriate and timely action to resolve collection issues, disputes, and chargebacks.
• Ensure full compliance with internal control requirements, including:
• Daily review of credit-related items within the Daily Operations Package (DOP).
• Monitoring outstanding balances, PM accounts, and receivables transfers.
• Adherence to credit policy, billing accuracy, and segregation of duties.
• Maintain strong internal controls over receivables to mitigate fraud risk and ensure accurate financial reporting.
• Ensure all documentation is complete, properly approved, and retained according to record retention policies.
• Oversee all group billing processes from contract to final payment, ensuring compliance with contract terms and deposits.
• Maintain close communication with Sales, Events, and Front Office to validate billing arrangements and ensure accurate billing.
• Organize and conduct the monthly credit meeting.
• Participate in pre-conference meetings to confirm credit terms and billing instructions.
• Calculate and validate group commissions, rebates, and contractual obligations.
• Monitor and reconcile guest ledger and city ledger, ensuring all balances are valid, supported, and collectible.
• Ensure PM accounts are transferred and invoiced within required time frames (48 hours or per SOP exceptions).
• Review credit limits and ensure sufficient guarantees of payment are maintained.
• Ensure refunds, adjustments, and write-offs are properly authorized, documented, and compliant with policy.
• Prepare and present AR aging reports, collection forecasts, and key performance indicators to Finance leadership.
• Identify trends, risks, and opportunities to improve cash flow and reduce outstanding receivables.
• Support month-end close by ensuring accurate AR balances and reconciliations.
• Establish and maintain strong relationships with corporate clients, group organizers, and partners to facilitate collections and resolve disputes.
• Handle escalated billing inquiries, refunds, and disputes professionally and efficiently.
• Liaise with Front Office to ensure guest ledger accuracy and timely settlement of folios.
• Work closely with Sales,…