Resume

Sign in

Credit Analyst

Location:
Schaumburg, Illinois, United States
Posted:
October 26, 2016

Contact this candidate

Resume:

Michael Prus, MBA, CCE

acw82z@r.postjobfree.com Schaumburg, IL 847-***-****

Quick Summary of Qualifications

* Years of credit, risk, and financial service experience gained at major corporations

* An effective team player with a proven record of improving processes and getting things done

* Traditional MBA in finance from a major university, BS in business/accounting from a highly regarded private college

* Certified Credit Executive (CCE) accreditation from the NACM

* International Certified Credit Executive (ICCE) and CICP accreditation from the FCIB

* Project management experience and accreditation

Professional Experience

Crescent Cardboard LLC, Credit Consultant Wheeling IL 2015 -2016

* Analyzed new account creditworthiness and recommended credit limits to the CFO

* Prepared standardized customer risk profiles using the company’s software and excel

* Assisted with procedural audit, documented processes, explained procedures, etc.

* Reviewed procedures and current customer document requirements for files completeness and adequacy, developed new forms and procedures to lower documentary risks

Credit and Risk Consultant - Various Companies. Chicago Area 2013 - 2016

Consulting assignment at FastBankNet, MainStreetInk, RealHeroes, Quick Delivery Systems and recently Nicholas Financial.

* Prepared credit and cash flow projection summaries for the largest customers in the A/R.

* Prepared customer relationship profitability summaries using the company’s software and excel

* Reviewed vendor and customer’s financial position and operating condition.

* Prepared written summaries, presenting facts and offering risk reduction suggestions concerning customer and counterparties credit worthiness and risk profile for officers and credit/loan committees.

* Resolved billing issues, collected past due invoices and prepared various reports for management

* Reviewed credit card handing and processes for fraud and other risks, suggested improvements

Credit and Collections Consultant - Kraft Foods Global Northfield IL 2009 - 2013

* Analyzed their largest customer’s financial data and other information and translated the analytical findings into actionable strategic recommendations.

* Analyzed the capabilities of current ERP system and SOX compliance and recommended changes and upgrades

* Worked with sales to provide them the credit and risk info they needed to properly new and major accounts. Improved the reporting for sales and upper management. Analyzed counterparty (vendor) risk for procurement

* Developed risk and A/R processes which lowered bad debt losses and helped speed collection times. Reconciled cash application errors and made changed to the processes to prevent them from reoccurring.

* Successfully trained the existing staff on the improved risk identification processes and global collection procedures. Helped develop collection strategies for the largest national customers and to manage bankruptcies

Corporate Credit Manager – Constellation Energy- Exelon Group Chicago, IL 2005 to 2008

Midwest USA and Canada credit and collection manager within the New Energy corporate credit team.

* Ensured that corporate credit and collection policies were being followed and targets were met in a fast paced environment.

* Reviewed and approved credit limits to $5 million for existing and potential customers. Also evaluated counterparty risk of trading partners.

* Developed and maintained relationships with all major customers that helped facilitate collections and contract negotiations. My region had the greatest amount of repeat customers and the second lowest bad debt losses

* Assessed the credit risks associated with various types of customers and worked with legal, sales and others to mitigate them without inhibiting sales

* Constructed and prepared daily, weekly and monthly reports including industry evaluations, economic outlooks and formal weekly and EOM information packages

* Negotiated and obtained security such as letters of credit, CDS, parental guarantees, cash deposits, etc. from new or existing customers when changes to their creditworthiness required it

* Approved or denied contract changes related to credit worthiness, managed bankruptcies, developed extended and other non-standard customer payment plans, handled formal and informal arbitrations, and verified compliance

* Resolved complex billing and collection issues successfully

* Supervised the Midwest USA and Canadian collections and A/R staffs and lowered the DSO by 8

* Prepare various weekly/monthly reports regarding customers and counterparties and assisted with compliance

Sr. Credit Consultant, ADP Dealer and Financial Services Division Hoffman Estates, IL 2004 to 2005

* Implemented changes to various processes, operating systems, and internal controls to improve the credit and cash applications accuracy and consistency between the operating units

* Assured their credit processes met internal audit and SOX 404 standards

* Set up various measures (UCC, personal guarantees, etc.) to help mitigate default risk

* Developed processes that improved A/R and cash application processes that lowered the collection times

* Improved cross functional communication and processes in this highly diversified corporation.

Director, Credit Administration - OCÉ – USA, NA now CANON GLOBAL Inc., Chicago, IL 1998 to 2004

Managed the corporation’s entire North and South American credit, collection, cash application and customer master A/R files consisting of 40 various level employees on site and at off-site locations. Responsibility included keeping current the A/R portfolio that averaged $150 million monthly with a customer base of over 40 thousand accounts.

* Evaluated existing and potential customers for credit sales with credit approval authority to $4 million.

* Worked with sales, internal legal management, our rental and leasing unit and outside financial sources to find suitable terms of sale for all existing and potential all customers

* Handled all major collection issues including bankruptcy administration, collection agency usage and legal recourse.

* Worked with our Treasurer’s department to manage cash accounts and cash applications.

* Managed global credit activities, reviewed and approved all letters of credit and other credit documentation

* Settled complex disputed issues in excess of $2 million

* Lowered DSO from 68 to 39 days in an industry where the average DSO is 60 days.

* Reduced bad debt loss from over 1.0% to less than .3% through proper credit granting, improved customer master diligence, better structured billing processes, collection department procedural changes, and systematic security filings.

* Improved department efficiencies and processes that enabled credit to handle a 300% sales increase ($550 million to $1.8 billion) over a 5 year period with little additional staffing or other extraordinary expenditures.

* Lowered staff turnover from 40% a year to less than 10% by developing and implementing a consistent structure, proper training, enforcing human resource policies and improving communication at all levels within the department.

Corporate Credit and Collection Manager - THE THERMOS COMPANY Schaumburg, IL 1994 to 1998

* Managed the domestic and international credit, collection, A/R and cash application areas. Approved credit limits to $1MM

*Set credit limits and constantly monitored the creditworthiness of most domestic large retailers and distributors

* Served as a member on the Creditor’s Committee for two major retail bankruptcies.

* Installed a new cash application system, improved the DSO and reduced bad debt losses by 30%.

* Obtained credit insurance and other guarantees that lower the credit risk involved with low rated retailers

EDUCATIONAL BACKGROUND

MBA, Finance, Northern Illinois University, DeKalb, Illinois (1989)

BS, Business Administration, Concentration in Accounting, Elmhurst College, Elmhurst, Illinois (1984)

ACCREDITATIONS / CERTIFICATIONS/OTHER INFORMATION

CCE, Certified Credit Executive, National Association of Credit Management (1993)

CICP, Certified International Credit Professional, FCIB (2004)

Certificate in Project Management – Sirius/Six Sigma (2006)

ICCE, International Certified Credit Executive, FCIB (2011)

International Quality and Productivity Conferences, Occasional speaker or panel member – www.iqpc.com

Linkedin profile - www.linkedin.com/profile/view?id=28782386



Contact this candidate