US Credit Services Director at Medtronic in Minneapolis, Minnesota

Job Description:

We anticipate the application window for this opening will close on - 2 Apr 2025

At Medtronic you can begin a life-long career of exploration and innovation, while helping champion healthcare access and equity for all. You'll lead with purpose, breaking down barriers to innovation in a more connected, compassionate world.

A Day in the Life
We are seeking an experienced and dynamic Director of Credit and Collection to lead and manage our US credit and collection department. The successful candidate will oversee a team of credit managers and representatives, ensuring the efficient, effective and timely collection of outstanding receivables. This role requires a strategic thinker with strong leadership skills, a deep understanding of credit and collection processes, and the ability to drive transformation.
Main Job Duties/Responsibilities:

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  Leadership and Management: Lead, mentor, and develop a team of credit managers and representatives, fostering a high-performance culture and ensuring team members have the necessary skills and resources to succeed.


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  Credit Risk Management: Implement credit policies and procedures to minimize risk and maximize revenue.


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  Collection Strategy: Design and execute collection strategies to ensure timely recovery of outstanding receivables and improve cash flow. Monitor and analyze collection metrics to identify trends and areas for improvement.


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  Customer Relations: Maintain strong relationships with key customers, addressing any credit-related issues and negotiating payment plans when necessary.


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  Transformation: Drive process improvement initiatives, adopt industry best practices, and lead the digitalization of the credit and collections department to enhance efficiency and effectiveness.


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  Management reviews: Prepare regular reviews on credit and collection activities, including aging reports, collection rates, and bad debt. Present findings and recommendations to senior management.


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  Compliance: Ensure compliance with all relevant laws and regulations related to credit and collections. Stay updated on industry best practices and changes in legislation.


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  Collaboration: Work closely with other departments, such as sales, customer service, and finance, to align credit and collection activities with overall business objectives.

Experience/Skills/Competencies:

• Baccalaureate degree in Finance, Accounting, Business Administration, or a related field. MBA or relevant certification (e.g., CPA, CFA) is a plus


• Minimum of 10 years of experience in credit and collections, with at least 5 years in a leadership role


• Strong knowledge of credit risk management, collection strategies, and relevant laws and regulations


• Excellent leadership, communication, and interpersonal skills


• Proven ability to analyze data, identify trends, and make strategic decisions


• Proficiency in SAP, credit management software and Microsoft Office Suite

Physical Job Requirements

The above statements are intended to describe the general nature and level of work being performed by employees assigned to this position, but they are not an exhaustive list of all the required responsibilities and skills of this position.

The physical demands described within the Responsibilities section of this job description are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. For Office Roles: While performing the duties of this job, the employee is regularly required to be independently mobile. The employee is also required to interact with a computer, and communicate with peers and co-workers. Contact your manager or local HR to understand the Work Conditions and Physical requirements that may be specific to each role.

Benefits & Compensation

Medtronic offers a competitive Salary and flexible Benefits Package
A commitment to our employees lives at the core of our values. We recognize their contributions. They share in the success they help to create. We offer a wide range of benefits, resources, and competitive compensation plans designed to support you at every career and life stage.

Salary ranges for U.S (excl. PR) locations (USD):$148,800.00 - $223,200.00

This position is eligible for a short-term incentive called the Medtronic Incentive Plan (MIP).

This position is eligible for an annual long-term incentive plan.

The base salary range is applicable across the United States, excluding Puerto Rico and specific locations in California. The offered rate complies with federal and local regulations and may vary based on factors such as experience, certification/education, market conditions, and location. Compensation and benefits information pertains solely to candidates hired within the United States (local market compensation and benefits will apply for others).

The following benefits and additional compensation are available to those regular employees who work 20+ hours per week: Health, Dental and vision insurance , Health Savings Account , Healthcare Flexible Spending Account , Life insurance, Long-term disability leave , Dependent daycare spending account , Tuition assistance/reimbursement , and Simple Steps (global well-being program).

The following benefits and additional compensation are available to all regular employees: Incentive plans, 401(k) plan plus employer contribution and match , Short-term disability , Paid time off , Paid holidays , Employee Stock Purchase Plan , Employee Assistance Program , Non-qualified Retirement Plan Supplement (subject to IRS earning minimums) , and Capital Accumulation Plan (available to Vice Presidents and above, or subject to IRS earning minimums).

Regular employees are those who are not temporary, such as interns. Temporary employees are eligible for paid sick time, as required under applicable state law, and the Employee Stock Purchase Plan. Please note some of the above benefits may not apply to workers in Puerto Rico.

Further details are available at the link below:

Medtronic benefits and compensation plans

About Medtronic

We lead global healthcare technology and boldly attack the most challenging health problems facing humanity by searching out and finding solutions.
Our Mission - to alleviate pain, restore health, and extend life - unites a global team of 95,000+ passionate people.
We are engineers at heart- putting ambitious ideas to work to generate real solutions for real people. From the R&D lab, to the factory floor, to the conference room, every one of us experiments, creates, builds, improves and solves. We have the talent, diverse perspectives, and guts to engineer the extraordinary.

Learn more about our business, mission, and our commitment to diversity here .

It is the policy of Medtronic to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, Medtronic will provide reasonable accommodations for qualified individuals with disabilities.

If you are applying to perform work for Medtronic, Inc. ("Medtronic") in any position which will involve performing at least two (2) hours of work on average each week within the unincorporated areas of Los Angeles County, you can find here a list of all material job duties of the specific job position which Medtronic reasonably believes that criminal history may have a direct, adverse and negative relationship potentially resulting in the withdrawal of a conditional offer of employment. Medtronic will consider for employment qualified job applicants with arrest or conviction records in accordance with the Los Angeles County Fair Chance Ordinance for Employers and the California Fair Chance Act.