Credit Risk Manager at LMC Credit Risk Manager at LMC in Bridgeport, Pennsylvania Posted in 1 day ago.

Type:

full-time

Overview:

The Manager of Credit and Accounts Receivable is responsible for managing member credit risk and overseeing accounts receivable. The Manager is responsible for analyzing prospective member financial statements to determine credit risk and interacting with LMC members regarding credit line assignment and needed collateral as required by the Finance Committee. Additionally, the Manager oversees the Accounts Receivable team and works with them to lead process improvements as well as the attainment of ongoing key performance indicators. The Manager is responsible for monitoring and addressing those members who may fall behind in the payments.

Primary Duties and Responsibilities:

Initiates conversations with prospective dealers and educates them on LMC Credit Policy. Ensures that the submission and review of dealer financial statements are completed on a timely basis. Reads, analyzes and interprets member financial statements for evaluation of credit risk based on LMC Credit formula Directs the presentations and actions of the Finance Committee. Recommends credit and collateral requirements to the Finance Committee to minimize credit loss. Negotiates and establishes various forms of collateral to be assigned to LMC while working with professional services. Manages collection of collateral, as needed. Performs an annual collateral audit to make sure that all collateral is up to date and renews documents if needed. Contacts stockholders regarding specific issues and oversees all confidential stockholder financial discussions. Maintains stockholder records and confidentiality. Oversees the administration of the Accounts Receivable Department including the collection and application of payments by the dealers and monthly reconciliation to the General Ledger. Manages the monthly reconciliation of other Accounts Receivable related accounts (such as unapplied cash, unclaimed credits, clearing, accrual, bad debt, withholding and sales tax). Monitors customer account details for non-payments, delayed payments and other irregularities. Organizes and implements a recovery system and initiates collection efforts with Dealers who have non-payments, delayed payments and other irregularities. Determines the staffing needs for areas of responsibility and manages the selection and hiring process, and is the final approval. Conducts performance evaluations, developing staff to achieve corporate, divisional and departmental goals; makes salary increase recommendations. Responds to inquiries and assists employees as necessary while maintaining a positive company image by providing excellent customer service.

Complete year-end dealer-related functions including:

Allocation of Patronage Dividend, Recalculation of Preferred Stock, Update of Summary of Returns, 1099 & IRS reporting and working with Outside Auditors as needed. Identifies and manages changes to process and systems to improve or maintain the efficiency and effectiveness of the department. Performs other duties as required and/or assigned.

Qualifications:

Bachelor's degree in Accounting, Finance, or Business Administration or equivalent experience required. MBA preferred. Considerable experience with reading and analyzing financial statements with a strong understanding of GAAP accounting. Understands banking securitization and legal documentation of collateral. Five (5) to seven (7) years related financial experience, preferably in the lumber industry. Two (2) to three (3) years prior related management experience. Excellent leadership capabilities embodying mentoring, role modeling, coaching, and skill development. Excellent customer service focus and skill set. Excellent verbal and written communication skills, including the ability to communicate with internal and external contacts, both in writing and verbally. Strong analytical skills along with ability to solve complex problems and interpret a variety of instructions Considerable knowledge of computer programs including Excel and Word. Ability to learn workflow based systems. Comprehensive knowledge of the co-op business and lumber/lumber yard industries is preferred. The ability to travel as necessary