Description JOB SUMMARY: Manage all aspects of receivable portfolio from initial approvals, day-to-day management, liquidation and remarketing for the subsidiary by effectively utilizing all resources. Implements credit and collection practices, policies and procedures to maximize the effectiveness of the company’s finance plans in promoting and managing the retail sale or lease of Caterpillar products through Caterpillar dealers and Original Equipment Manufacturers (OEM) and to promote wholesale and receivable finance plans for Caterpillar dealers and OEM’s all within acceptable risk levels.
PRINCIPAL DUTIES AND RESPONSIBILITIES:
- Directs a staff responsible for assisting customers with credit offerings, financial credit information and relevant information within the company policies, and procedures as established by the subsidiary.
- Administers credit by approving credit submissions, directing the credit analysis process and investigation of credit submittals, overseeing employees with lesser credit authority, and contracts. Structures and recommends credit submissions in excess of credit authority.
- Manages credit processing through documentation of retail receivables and wholesale receivables, negotiates documentation of complex transactions and ensures all standard documentation is compliant. Serves as a liaison between the marketing staff and legal department regarding documentation changes and modification. Oversees the administration, booking process and funding of documented transactions.
- Ensures and manages proper training and instruction is given to personnel regarding the leasing system and all other suitable software. Initiates and manages other types of employee training.
- Assists in preparation of the office’s annual business plan and budget, establishes methods for measurement of these objectives and plans, and reviews progress toward their achievement.
- Approves account modifications and executes documents within authority and ensures the overall quality of accounting inputs and resulting adjustments.
- Ensures the successful liquidation of the legal portfolio and coordinates these efforts with the headquarters’ legal counsel.
- Manages customer service efforts as they relate to customer requests, local staffing, and headquarters support and oversees the quality of customer service at the subsidiary.
- Directs the preparation of the Region Office past due report. Approves additions, deletions, and modifications to Potential Credit Loss Report. Forecasts delinquency and losses and analyzes trends for use by management.
- Maintains goodwill while administering the company's policies and procedures through dealings with customers, dealers, and other Caterpillar Financial Services Corporation (CFSC) Offices.
- Initiates new procedures and recommends new policies as work conditions change.
- Sells repossessed and off-lease equipment to minimize losses or produce positive contributions to the subsidiary’s margin objectives in line with the remarketing policy. Communicates with external contacts, which include Caterpillar dealers and vendors in the subsidiary geographic market and area.
- Attracts, motivates and develops employees. Identifies training and development needs of staff and implements an annual training program. Manages all personnel issues including mentoring, performance evaluations, disciplinary actions, hiring, and employment separations.
- Participates in accomplishment of continuous improvement objectives for the department. Progress toward accomplishment of these is measured through maintenance of necessary measurements and analysis of associated data. Participates in the identification of problem areas and development of resolutions to address them.
- Understands the Equal Opportunity and Harassment policies of the company, applies them in all aspects of management and maintains an environment, which is consistent with these policies.
KNOWLEDGE, SKILLS AND ABILITIES:
- Demonstrated knowledge of finance/leasing products, policies and procedures.
- Knowledge of Caterpillar products, their applications and their markets.
- Demonstrated knowledge of commercial law, including bankruptcy.
- Demonstrated knowledge of lease accounting practices.
- Demonstrated knowledge of the subsidiary’s credit and documentation procedures, processes and operations.
- Knowledge of Human Resources policies and procedures.
- Demonstrated ability to apply problem solving and decision-making skills.
- Demonstrated knowledge or and the ability to apply math computation skills used for financial modeling and forecasting techniques.
- Ability to speak, read and comprehend languages other than one’s native language may be essential.
- Demonstrated ability to analyze the financial status of customers.
- Ability to provide an atmosphere of teamwork and cooperation with fellow employees in order to accomplish given tasks.
- Ability to apply managerial and leadership skills to develop and motivate personnel.
- Ability to define finance/lease markets and make recommendations.
- Ability and willingness to travel.
EDUCATION/EXPERIENCE: A 4-year college or university degree equivalent and a minimum of 6 years exempt experience in commercial lending, marketing, credit, commercial collections, financial marketing and customer services, at the retail and/or wholesale financing levels is recommended. Equivalent experience may be substituted for education.
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