Job Description:
Job Purpose:
Responsible for the management of risk assessment of customers and establishment of credit limits, the analysis of the overall credit exposure & for the recommendation of terms of credit. The negotiation and management of security necessary to support higher risk exposures, debt recovery portfolio, and accounts receivable bad debt provision. Approval of credit limits, risk categories, and release of blocked orders. Actively support the sales account holders in credit issues. Manages credit litigation and special collection efforts and strategy.
Negotiate repayment arrangements and determine when additional action is required. Seek approval when external/internal legal action is required. Management of internal and external collection efforts on major bankruptcies and other serious collection matters.
Provide support to the Country Credit Manager as required. Responsible for the management of staff within the defined area of responsibility, and for actively supporting their Learning & Development.
Dimensions:
• Credit Limit Approval: Up to 2 Mln USD
• Customer Profile : Complex
• Annual Proceeds for the Country/Business/Portfolio: 6-7 Bln USD
• Portfolio Risk Profile (USD Value %):
• Growth Potential/Commercial Complexity (Low/High):High
• Annual C3 of the Country/Business/Portfolio: (USD)
• Country Risk /Business Environment (D&B)
• Number of Staff: 1
Principal Accountabilities:
Manage Credit Risk
Responsible for the efficient and effective management of credit risk within the defined area of responsibility in line with OCC directives. Responsible for the risk assessment of customers, negotiating and managing security arrangements, establishment of appropriate credit limits with necessary MOA and the analysis of the overall credit exposure & the re-assessment of credit-worthiness of customers based on re-evaluation triggers and timelines. Liaise with business units to appropriately balance and optimize portfolio risk ensuring adequate use of risk mitigating collateral as appropriate, regularly meeting with business units to review portfolio risk, ensuring credit analysis representation and participation on each business unit credit committee. Provide authorised approval for the release of blocked orders in respect of credit. Responsible for ensuring SOX controls are adhered to within the Analysis Group. Proactively identifies areas of increasing risk, e.g. at customer level, sector level, industry level.
Accounts Receivable
Negotiate & approve refinancing of Overdue Debts. Regularly reassess customers to determine provisions for recovery, in relevant timeframe. Directly administers or ensures delegation of 3rd party contract arrangements where applicable, e.g. credit data providers.
Support for Sales
Provide interpretation of policy and guide the businesses on the principles of sound credit management. Keep up-to-date on issues within the businesses by having close relationships with the sales managers and reading information from industry sources. Conduct customer visits as required. . Meet with owners/officers of major customers as necessary to represent business in negotiating higher risk/exposure credit facilities.
Debt Recovery
Responsible for the management of the doubtful account portfolio including accounts handled internally by Legal and externally agencies/lawyers. Negotiate repayment arrangements and determine when additional action is required. Seek approval when external/internal legal action is required. Management of internal and external collection efforts on major bankruptcies and other serious collection matters. Oversee and manage all external collection efforts ensuring regular follow up to maximize recoveries.
Write-off Debt
Assisting off-shore team to identify potential write off & obtain MOA and business support when required. Provide details of write off to relevant staff who are responsible for posting in ERP. Communicate write-offs to the business.
Legal Recovery
Coordinate legal assistance for bankruptcy cases and for other non-bankrupt collection actions when legal involvement is determined to be necessary.
Key Challenges:
Ensure that credit assessments are delivered in an accurate and timely manner to support Sales. Maximising commercial opportunities where credit can play a part in delivering strong margins whilst taking acceptable credit risks. This will require creating very good working relationships with the local Sales Teams, and strong levels of commercial knowledge across all line of business. Have the ability to meet with customers to discuss a range of issues, which can cover high risk, cash flow , growth potential and still maintain a solid relationship wherever possible. The ability to negotiate effectively is a key requirement. Demonstrate solid understanding of the of DS business strategies and growth objectives.