Credit Manager
7 days ago
Responsible for managing and monitoring all the credit aspects of an assigned portfolio of customer accounts in a manner that is consistent with CITGO’s values, policies and procedures, and supports maximizing profits without exposing CITGO to outsized risk. Commits the company to provide unsecured, partially secured, or fully secured lines of credit up to $3MM. Exercises continuous control of customer account balances within established terms and limits. Establishes and maintains strong relationships with internal and external stakeholders, including but not limited to customers and CITGO Marketing. Collaborates with cross-functional teams for strategic and problem-solving purposes. Engages in knowledge-sharing activities regarding credit matters, when and where appropriate. Assists manager in his/her respective duties through recommendations involving procedures and standards.
Minimum QualificationsDegree:
- Bachelor's Degree.
The minimun number of years of job related experience required by this job is:
- 3 years.
List any specialized training or unique skills required:
- Requires high level of financial skills to perform risk/reward & trend analysis,.
- High level of knowledge of corporate credit management policies.
- Skills to investigate.
- Analyze & evaluate credit.
- Ability to advise others of existing & potential customers where growth/restrictions are warranted.
- Strong communication & interpersonal skills to protect company interest.
- competent to work on complex projects & recommend changes where needed.
- Minimal supervision.
- Basic to moderate knowledge of Microsoft Office is required.
- SAP knowledge is preferred.
1. Credit evaluation/approvals for new and existing customers
Assess the creditworthiness of existing and potential customers to determine appropriate credit lines, while maintaining a risk/reward balance. Approved credit lines up to delegated level of authority, and specific advice and recommendation to approve credit lines that exceed the delegated level of authority and/or to approve unusual credit arrangements, such as non-standard payment terms, among others. Conduct periodic and ad-hoc credit evaluations on existing accounts within the framework established by CITGO Credit’s policies and procedures, and adjust approved credit lines as needed.
2. Control account balances
Control customer account balances within established terms and limits by monitoring accounts receivable levels. Investigate and initiate collection of past due items. Review orders placed on credit hold as a result of SAP dynamic credit check to determine whether to release, or if prior to releasing, specific actions are required from the customer (payment or provision of security).
3. Cross-Functional activities
Assist the Accounts Receivable department by identifying the AR items included in wire transfers and ACH payments in order to properly offset outstanding debit and credit balances. This may involve contacting counterparty personnel to request remittances for any unidentifiable payments.
Provide guidance to CITGO Pricing and Customer Service in the preparation of difficult adjustments to customers’ accounts.
May collaborate with Contracts, Legal, and Marketing on key credit aspects related to the execution of commercial contracts and master agreements. This requires basic knowledge of contract law and its application to product sales and purchase contracts.
Maintain active communication with Legal to review, revise, and/or draft collateral documents, contracts’ clauses, and other credit-related items.
Work with other CITGO teams such as Customer Service, Pricing, IT, and Billing to trouble-shoot invoicing and other issues that may present.
4. Problem accounts
Establish payment arrangements for customers in financial difficulty and/or with poor payment history. Assist attorneys in filing on extremely deficient or bankrupt customers.
5. Obtain security
Obtain security agreements (letters of credit, guaranties, cash deposits) when necessary.
6. Perform ad-hoc projects and/or reports as requested by Management.
7. Stay up-to-date with industry, economic, and global trends and developments that may have an impact on credit decisions.
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