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Manager Sales

Smithtown, New York, United States
January 20, 2017

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EDWARD J. FARRELLY 631-***-**** (h) 516-***-**** (c)

*** ******** *****, *********, *** York 11787


Energetic professional with a unique blend of finance, credit and management experience. Proven strategic thinker with superior leadership skills and an outstanding record of sound business judgment seeking a challenging opportunity.


Team Builder Strategic Leader Cost Savings Initiator Credit Analysis


PUROLATOR INTERNATIONAL, INC, Jericho, NY Nov. 2013 – May 2016

A U.S. based freight forwarder that provides cross border logistics services between the U.S. and Canada.

Reason for leaving: Major management restructuring

Operations Finance Manager - Finance Division

Supervised a staff of 10: four Collection Analysts, two Credit Analysts, two Cash Application Specialists, and two Accounts Payable Freight Auditors.

Established a full service Credit Department and executed new processes and procedures as well as extension of credit for new and existing customers in January 2014 resulting in a significant decrease in bad debt write-offs. Approval authority up to $15MM.

Successfully managed and reduced A/R delinquency for accounts over 60+ days past due from 12.8% (1/31/14) to 6.2% (1/31/15). A/R delinquency decreased during 2015 to 5.99% due to implementation of successful collection strategies.

Instrumental in resolving and substantially reducing A/R delinquency for a numerous customers including: Starbucks ($258K to $5K); Abercrombie & Fitch ($376K to $1K) and Motorola ($225K to $6K) in just one calendar quarter.

Partnered and developed excellent rapport with the Sales Department, commencing with weekly Collection meetings to discuss problematic accounts and developed a plan of action to quickly resolve issues and concerns. This resulted in strong collaborations between Sales and Collections to develop strategic initiatives to reduce AR delinquencies.

As a result of my implementation of strong credit processes and procedures in January 2014, there were a nominal number of bankruptcies and/or business shut downs in Purolator’s portfolio of 500+ accounts. In addition, an insignificant amount of accounts were sent to third party Collection Agencies.

Responsible for preparing and distributing weekly and monthly Accounts Receivable & DSO reports to Sales, Accounting, Collections, and Billing Departments as well as the Senior Management Team. These reports were reviewed and discussed in significant detail at weekly Executive Leadership meetings.

Supervised Accounts Payable Freight Audit team when daily discrepancies arose with carrier invoices. Freight invoices were reconciled against Beacon Data Base System for allocation to rectify customer information, weight, ship date and proper assigned rate data.

Managed Cash Application team to ensure accuracy in posting daily checks, wire transfers, ACH debits and credit card transactions in USD and CAD funds for our customers. Worked very closely with our Corporate Canada office, customer, freight payment companies, collection analysts and financial institutions to resolve any payment discrepancy issues.

Reviewed month-end Cash Application Summary Reports prepared by Cash Application Specialist which was crucial to support Beacon Daily Cash Activity Report on a monthly basis prior to submission to Canadian Corporate office.

COBY ELECTRONICS CORPORATION, Lake Success, NY Sept. 2007 – April 2013

Manufacturer of consumer electronics including televisions, head phones, ear buds and electronic accessories.

Reason for Leaving: Company filed Chapter 11 bankruptcy.

National Credit Manager – Credit, Collections and Reconciliation Department

Supervised Assistant Credit Manager and Credit Investigator.

Successful in minimizing U.S., Canadian and Latin America bad debt to below 0.5% from 2008-2013 as a direct result of extensive screening of companies to exclude potential bankruptcies or business closures in the 900+ account portfolio.

Visited numerous U.S. and Canadian customers to ensure strong relationships and discussing credit issues.

Prepared extensive monthly/quarterly Credit & A/R reports as well as very detailed yearly department budgets and business plans for Senior Management.

Conducted weekly departmental credit meetings with primary focus on discussing and reviewing credit lines and risk exposure of new and existing accounts. Performed detailed credit analysis for key accounts with approval authority up to $10MM.

Reviewed and restructured Vendor Agreements for mass merchant accounts with our Legal and Sales Departments.

Partnered with the Legal Department in preparing proof of claims; back-up documentation and following-up on all bankruptcy proceedings.

Assisted in implementation of Tier Management System to expedite the credit review process for new and existing customers. System utilized predefined measurements and bench marks to expedite credit decisions in timely manner.

Responsible for Collections of Accounts Receivable for mass merchant and major retail accounts with total outstanding balances between $1MM- $25MM, which represented approximately 90% of the total portfolio. A/R delinquency represented less than 3% of AR over 30 days past due.

TDK ELECTRONICS CORPORATION, Garden City, NY Dec. 2005 – Aug. 2007

Manufacturer of electronic materials, electronic components, recording and data-storage media.

Reason for Leaving: Company division acquired by Imation and relocated to Minneapolis, MN.

Senior Credit Manager – Credit, Collections and Reconciliation Department

Credit Manager

Supervise staff of six Reconciliation Analysts and one A/R Cash Application Specialist.

Prepared monthly A/R reports, department budgets, monthly cash collection projections and employee appraisals.

Designed, developed and implemented new processes and procedures for Credit Department which were non-existent. Included: extensive credit review process, credit scoring program for accounts under $100K, automation of trade references, credit hold program, corporate ratings system, signature hierarchy for credit reviews and write-off’s. Signing authority up to $2.5MM.

A/R delinquency declined substantially by 10.9% from 24.6% at 1/06 as compared to 13.9% at 3/07.

Invoices 90+ days were reduced significantly by 91% from $2,736K at 1/06 to $244K at 3/07.

Successfully partnered with Reconciliation Analysts to resolve large deduction challenges with Walgreen’s, Best Buy, Circuit City and CompUSA. Total charge backs decreased by 54% from $1,744K at 1/06 to $803K at 3/07.

Received Presidential Department Award for outstanding achievements in reconciliation, collections and consistent team commitment.

Minimal amount of bankruptcies and business closures occurred in TDK’s portfolio while under my tenure as a direct result of the implementation of new credit processes and procedures.


New York Institute of Technology, Old Westbury, NY

Bachelor of Science - Major: Business Finance


SAP, Microsoft Office (Word, Excel, Access, PowerPoint), Outlook, Internal Software Systems

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