credit and collections
Resume:
RESUME
Michael E. Bell
***********@*****.***
Freehold, NJ, 07728
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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