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credit and collections

Location:
Freehold Township, New Jersey, United States
Salary:
75,000
Posted:
June 13, 2019

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Resume:

RESUME

Michael E. Bell

ac9lp6@r.postjobfree.com

Freehold, NJ, 07728

732-***-****

PROFESSIONAL EXPERIENCE

*/**** – 3/2018

Senior Credit Manager/ Domestic & International

Jaftex Corporation

Appointed as senior credit manager to streamline credit processes, reduce DSO, and increase profitability by automating the credit process.

• Integrated new accounts receivable software, Traverse, with less than 1% errors in transition.

• Supervised credit analysts and support staff.

• Optimized credit approval and collection process, improving departmental production by 40%.

• Defined and implemented systematic collection procedures reducing international DSO by 18 days.

• Redesigned all credit department applications and documents to adhere to regulatory standards.

• Supervised the daily collection and account reconciliation activities resulting in a default rate of less than .5% of total volume.

• Provided training for all newly hired associates, in both systems and workflow.

• Managed monthly and yearly reporting for all accounts receivable.

• Acted as underwriter for portfolio, analyzing larger exposures and obtaining the directors approval.

• Managed daily workflow of department, ensuring optimal performance and customer satisfaction.

• Streamlined order entry system from sales to ship, eliminating paper orders.

• Maintained a portfolio of 3,000 customers with less than .3% incongruities.

• Responsible for final arbitration of all disputes with customers.

• Coached and mentored analysts, generating consistent positive results and strengthening the team dynamic.

• Developed new “hold” procedure, whereby delinquent accounts require management approval before shipment, resulting in $200,000 in retrieved revenue.

• Oversaw the credit department review process for customer risk evaluation and underwriting recommendations.

10/2015 – 8/2016

Senior Credit Manager / Finance Manager

Liquid Capital Corporation

• Created a quality credit risk management environment and developed sound and acceptable credit policies while managing a staff of 10 in 2 different departments.

• Managed account receivables and all related functions; renegotiated account receivable balances, streamlined processes, and improved client retention rates and managed outside credit agencies.

• Investigated and verified financial status and reputation of prospective customers applying for credit; reviewed credit references and Dunn and Bradstreet, Experian, and Equifax data to determine applicant suitability.

• Evaluated and provided analysis, conclusion, and recommendations to determine appropriate credit line amounts; communicated information to customers and team members.

• Identified problem accounts and negotiated payment programs with delinquent customers while monitoring violations of credit policies.

• Interfaced and assisted sales representatives with data for customers regarding delinquency, daily sales outstanding (DSO), and payment history.

• Researched and made decisions on finance charges; maintained bad debt and bad debt recovery records.

• Facilitated monthly meetings with credit and collection staff, and participated in local credit organization meeting.

• Reported directly to head of U.S. operations.

10/2011 –1/2015

Senior Credit Analyst and Finance Manager

Bibby Financial Services

• Managed 20 account executives throughout the United States.

• Managed collateral performance of the portfolio through efficient and effective client monitoring and compliance with sanctioning conditions.

• Managed portfolio risk, reporting to U.S. director.

• Took personal action on high value/risk clients.

• Identified operational processes inefficiencies and recommended necessary improvements.

• Partnered with business development to identify major account opportunities.

• Authorized larger client payments/overpayments and undertook larger client facility reviews.

• Provided direction and support and encouraged the need for further training as training manager for the staff.

• Ensured that all month-end procedures were properly completed.

• Analyzed utilization and capacity against performance goals.

3/2008 – 9/2011

Credit and Collections Manager

Katherine Bishop Manufacturer and Importer

• Responsible for all facets of receivables management.

• Leader for all collection activity including collection agency correspondence, legal issues, and customer visits.

• Resolved delinquencies, short payments, and disputes.

• Responsible for all cash application duties and credit authorizations. • Helped established new accounts, evaluated credit risk, established credit limits and payment terms utilizing bank/trade references, credit reports, and using outside credit insurers.

• Responsible for the tracking and filing of lien and bond claims, bad debt write off report and the liaison to the outside legal staff.

• Compiled reporting of past due balances to re-credit insurers.

1/2000 – 1/2008

First Vice President

Israel Discount Bank, Factoring Division

• Started factoring division from inception with 30 direct reports.

• Managed the consumer and business credit, collection and underwriting department with minimal write offs.

• Directed department, trained new employees and prepared performance reviews.

• Monitored and analyzed Key Performance Indicators (KPI), fraud detection department, and outside legal counsel.

• As a senior executive, managed the credit, collection and underwriting department with minimal write offs.

• Trained new employees and prepared quarterly budget.

• Managed, negotiated and reviewed all commercial reporting and collection agency activity.

• Managed associates in fraud protection department and was direct liaison, with respect to legal matters.

• Analyzed all aspects of the customer's financial and projection reporting.

• Presented all prospective customers to credit committee.

• Team member for research and development of systems and integration into the credit process.

• Audited internal financial processes on a quarterly basis.

• Conducted periodic risk analysis and evaluation for Provision for Loan Loss (PLL).

• Responsible for new business development with a 2.5 million dollar signing line ability.

01/1997 to 01/2000

Vice President

MTB Bank

• Managed portfolio loans, collections, and underwriting department with 10 direct reports.

• Wrote and reviewed formal underwritings of prospective customers before credit committee presentation.

• Managed the credit and collections department for the factoring and trade finance groups.

• Prepared budgets annually for management review.

• Maintained all credit policies for division.

• Developed financial analysis reports and presentations.

01/1985 to 01/1997

Vice President

Finova Capital Corp

• Started in credit department as a senior credit analyst and collection department manager.

• Managed and maintained all contracts and negotiations with outside collection agencies.

• Responsible for file maintenance and personal interaction with all customers with an internal line of $2 million.

• Group leader of 7 Credit analysts responsible for $850 million total customer volume.

• Maintained all credit policies for department.

• Prepared and presented prospective customers to credit committee for approval.

• Liaison between staff of 20 employees and senior management.

EDUCATION

• Michigan State University,

• New York Institute of Credit,

• Omega Formal Credit Training



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