- Develop and lead the implementation of effective and consistent credit policies and procedures to be used across the cooperative to evaluate the creditworthiness of customers, in a manner that is understandable to the sales/broker/accounts receivable network as necessary.
- Conduct thorough credit assessments of new and existing customers, considering financial statements, credit reports, and other relevant information, collaborating with sales and other business divisions to assess and establish credit limits for customers based on risk analysis for all entities within the DFA organization.
- Monitor and manage credit exposure, identifying potential risks and implementing strategies to mitigate them, ensuring that customer credit status does not develop the potential for exposure after customer set-up. Frequency and scope determined by size of customer.
- Solve for ways to review cross-business customers on different systems to ensure that credit limits are split between businesses appropriately and that terms are consistent within the cooperative.
- Continuously review and update credit policies, processes, and system enhancements to align with industry best practices and regulatory requirements, and to maximize the efficiency and effectiveness of the cooperative credit risk management policy.
- Assist accounts receivable, sales, accounting, and legal organizations across the cooperative in an advisory capacity with matters related to customer bankruptcy or recommendations on how to position an account and manage collections to avoid negative bankruptcy impacts.
- Travel to account locations, as needed, to review their financial statements, meet with senior management members, and seek clarification that will lead to a positive outcome for DFA.
- Determine and implement appropriate credit insurance policies and other risk mitigation tools to protect the company's interests, and manage the relationships with third party providers of those tools.
- Drive development and implementation of strategies to minimize bad debt losses.
- Collaborate with customers and accounts receivable personnel, combining a thorough grasp of financial, credit risk, and customer relation skills, to find mutually beneficial solutions to managing risk and/or in case of payment issues.
- Work with facility locations as it relates to holding orders and shipping upon release to ensure that customer and facility needs and timing are both met.
- Generate regular reports on key credit management metrics and provide insights to senior management.
- Lead the initiative to improve decision strategies by working with all cooperative credit teams as the subject matter expert to create appropriate credit risk scoring strategies and tools, including securing credit through credit insurance, letters or credit, or other options.
- Work with stakeholders to set tolerances for key risk indicators to match the current risk strategy. Ensure a sound credit risk control environment by providing insight on effective ways to proactively manage negative risks and encourage positive risks
- Work closely with DFA Farm Services businesses to assist them with the determination of the appropriate Forward Contracting and loan offerings based on credit exposure for each of their customers.
- Analyze credit data to identify trends and recommend improvements in credit-related processes.
- Ensure compliance with relevant laws, regulations, and industry standards related to credit management.
- Keep abreast of changes in regulations and update credit management practices accordingly.
- Contribute to risk committee discussions, providing insights on credit risk matters.
- Lead and/or become actively involved as needed for the most complex, highly visible, or critical circumstances.
- The requirements herein are intended to describe the general nature and level of work performed by employee, but is not a complete list of responsibilities, duties, and skills required. Other duties may be assigned as required
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Credit Risk Management Director - Kansas City, United States - Dairy Farmers of America
Description
Develop and manage the cooperative-wide customer credit risk function within Dairy Farmers of America, Inc. (DFA). Perform analysis and assessments across DFA's varied business units to ensure appropriate development of DFA's credit risk profile as well as the timely identification of significant and emerging credit risks. Oversee the ongoing credit risk analysis of the overall portfolio of trade A/R accounts that DFA sells product to on a regular basis. Balance the opportunities to meet growth goals with the risk of extending credit to customers, and finding mutually acceptable solutions to do so. Is viewed as a trusted advisor and expert to senior management, executives, and various stakeholders on credit risk-related subject matter and concerns, mitigation strategies, and resolution plans.
Job Duties and Responsibilities:
