Accounts Payable Credit Analyst
Resume:
Leonard T. Wachniak
Milwaukee, WI 53227
***********@*****.***
linkedin.com/in/lenwachniak53227
Professional Summary
Accomplished Credit professional with a proven track record in credit review and management. Skilled leader with strong organizational abilities. Expertise in credit reviews, internal controls, and collections.
Skills
Superior Management Skills
Strong credit and collection background in manufacturing and services
Broad experience with Oracle, SAP, and Lawson
Extensive background with integrations of new businesses
Leadership background including developing employees for growth Experience
MENASHA CORPORATION Oconomowoc/Neenah, WI
Credit Analyst March 2020-March 2025
Responsible for the credit review and collection on an assigned portfolio of accounts.
• Reduced the capital expense of handling outstanding balances from 22% to 15% in two years, allowing the company additional cash to invest.
• Reviewed key customers and was able to reduce DSO to within 4 days of best possible reduction.
• Used flexibility and experience to transfer from one division to another with no interruption on reducing past due amounts.
• Worked with team to create new reporting on disputed invoices. This led to a 40% reduction in old balances on accounts.
APPVION OPERATIONS, INC. Appleton, WI
Credit Manager/Accounts Payable Manager January 2019-March 2020 Managed a team of 6 credit, Accounts Payable(A/P) and rebate personnel. Oversaw the credit review of new and existing accounts, collections and cash application. Set up A/P team from scratch, including hiring and training of new employees.
• Directed all aspects of Accounts Receivable, including credit extension, collections and cash application. Reduced Days Sales Outstanding (DSO) from 36 to 28 days through process improvement and mentoring.
• Bridged previously existing gap between Customer Service, Procurement and Credit through creation of standard procedures for the procure to pay process.
• Slashed the time to process and pay outstanding invoices for Accounts Payable (A/P) through creating an empowered team from scratch, including hiring and continuous training. This shortened the time to pay an invoice from 16 to 7 days.
• Had a direct impact on the company achieving record EBITDA in a challenging environment. This included reducing the past due accounts on the A/R side by
$500,000 and reducing the days to pay on the A/P ledger from 17 to 6 days.
• Strengthened internal controls through the reconciliation of 17 general ledger accounts, some of which had not been reviewed in several years. This included writing detailed Standard Operating Procedures (SOP’s).
• Led and steered the month end close for both A/P and A/R departments. Through process improvement, have been able to slash the time to close by 2 days.
SOFTWAREONE, INC. Waukesha, WI
Accounts Receivable Specialist November 2015-December 2018 Coordinated credit and collection efforts for a portfolio of $20 million. This included the credit review of new and existing accounts, release of orders on hold, and the collection of past due balances. Took on added duties of handling government accounts and large volume customers.
• Coordinate collection efforts for domestic and international customers, which included being the Subject Matter Expert on Government Collections. This reduced the Days Sales Outstanding (DSO) from 45 to 37 days.
• Collaborate with Sales to resolve disputes and short paid invoices, resulting in reduced outstanding items, and customer satisfaction.
• Utilize available tools to maximize collection efforts. By adapting customer portals, EDI and creating standard procedures, was able to reduce the past due balances from 20% of total A/R to less than 10%.
• Oversaw accounts sent for legal action, including the reduction of bad debt write-offs by 50%. Through working with sales on difficult issues, was able to reduce accounts sent for collections.
JOHNSON CONTROLS, INC.
Johnson Controls, Inc. Glendale, WI
Credit Supervisor April 2013-May 2015
Directed the daily activities for 10 employees in the credit review process on large contracts, the set up and maintenance of the customer master data, and the legal review team. Implemented new process for lien/bond filing to protect company's legal rights in case of non-payment.
• Directed the timely and accurate review and approval of $12 million per month in equipment contracts. Reduced losses by more than $1 million through proper review and lien protection.
• Re-designed the Customer Master Data team which provided the accurate and timely set up 1,200 accounts per month. Changes resulted in reducing the time to set up and review a new customer request from 48 to 12 hours, and provided savings of $5,300 per month in cost savings.
• Implemented training program for collection personnel. Trained more than 125 team members on the role of lien/bonds, resulting in the reduction of lien filings by 23% over a two-year period.
Johnson Controls, Inc. Glendale, WI
Collection Supervisor December 2008-April 2013
Supervise 10-15 collection coordinators to ensure adherence to internal standards, deadlines, and ensure that region exceeds collection goals. Provide employees with guidance in handling difficult or complex collection issues in effort to increase cash collections.
• Led the successful integration of a $5 billion business into the company portfolio. Halved the past dues in the first 6 months.
• Responsible for two large regions in both service and systems, and able to reduce the past due balances by 20% in each of the regions.
• Co-coordinated the interviewing and hiring of new personnel. Successfully brought on 74 new collection personnel who had an immediate impact on the business results. Johnson Controls, Inc. Glendale, WI
Credit Analyst April 2007-December 2008
Review commercial customer bid documents and contracts for compliance to legal and internal standards in effort to reduce potential exposure. Use commercial credit reports to gain better understanding of customer payment performance. Analyze credit data and financial statements to determine the degree of risk involved in extending credit on large construction projects. Determine lien/bond rights for each project, increasing ability to be paid.
• Successfully transitioned the analyst position within Johnson Controls from an acquisition.
• Improved the understanding of lien/bond process across the collection team, resulting in a reduction of accounts placed for legal action by 31%. Johnson Controls, Inc. Glendale, WI
Collection Coordinator February 1999-April 2007
• Contact customers with past due balances to solicit payment.
• Advise customers of necessary actions and strategies for debt repayment.
• Review legal options in order to protect the company's assets.
• Perform monthly account reviews with regional financial and business teams.
• Reduced past due balances by 15% through strong interaction with customers and internal branch personnel.
Education
Lakeland College Sheboygan, WI
Bachelor of Science: Accounting
University of Wisconsin-Milwaukee Milwaukee, WI
Bachelor of Science: Finance
Additional Information
Former Chair Person – NACM Wisconsin Advisory Board Certified LEAN Administrator
Certified Training Facilitator
Contact this candidate