The Manager of Credit is responsible for the entire Motiva Credit function and reports into the Treasurer. The incumbent oversees teams which manage credit risk analysis, establish credit limits, negotiate, monitor, and control security, approve over-credit-limit orders, co-ordinate credit activities with the business units, and identify and drive team actions to meet both Credit and business unit goals. This role will not only set and maintain Motiva’s Credit policy but also directly handle credit activities for some of the more complex and/or higher exposure accounts in the business. The incumbent will have daily responsibility for ensuring smooth operations for both the Commercial Credit and Trading Credit teams. The Commercial Credit team focuses on Motiva’s fuels and base oil customers and the Trading Credit team on Motiva’s trading counterparties. The Credit function continues to evolve in tandem with Motiva’s growth trajectory. As such, Motiva’s Credit function requires a leader with an entrepreneurial and collaborative style. In addition, the position is expected to support the Treasurer in efforts to optimize efficiency, effectiveness, and results of the Credit function. The Director will have responsibility for improving A/R portfolio performance, dealing with customers in high conflict situations, manage credit insurance and other structured solutions utilized by Motiva, monitor KPIs, prepare and monitor the departmental budget, and actively participate in the recruiting, hiring, training, and evaluation of employees on the Credit team. The incumbent will be expected to integrate credit-related requirements and credit-related processes into any major initiatives, improvement projects, and/or M&A activity.
- Lead the Credit organization with efforts to improve results and the delivery of major initiatives and improvement projects
- Meets/communicates with customer’s senior financial and business leaders to establish understanding of customer’s financial condition and business model as needed to complete credit analysis and to negotiate security when financial condition does not support credit exposure
- Works closely with the business unit to ensure a high-level of support and to ensure credit decisions fully support the business appetite for risk relative to costs and benefits to the business
- Manages the credit analysis and decision process to ensure proper due diligence is performed in accordance with Motiva’s Credit Policy standards and ensures full compliance
- Negotiates and manages security arrangements to ensure timely actions taken to renew, replace or liquidate security prior to expiration date
- Provides approval for release of orders/product above established credit limit and tolerances per global credit policy and coordinate monitoring and control of exposures within approved credit limits
- Provide business process design leadership to the various teams within strategic change project teams
- Provide analytics indicative of credit and credit results effectiveness and efficiency
- Provide guidance and analysis with regards to improvement opportunities through systems and automation
- Manages a department of approximately 10 employees
- Significant demands in terms of networking, participation on virtual teams, influencing and communicating
- Requires broad business, functional and technical (RightAngle and SAP) knowledge gained through many years of experience in demanding roles
- Successful management of relationships is critical and the individual will be required to operate across the Motiva Enterprise; flexibility and patience are critical
- Manages Credit function which serves over 1,000 active customers and vendors across the entire organization
- Motiva has undergone an exciting transformation journey leading to a dynamic and shifting environment, which requiems enthusiasm, flexibility, innovation and adaptability. Candidate must be comfortable with managing difficult credit risk decisions and with management of the conflicting goals of maximizing sales while minimizing bad debt losses and the candidate must be able to effectively challenge the business when necessary to ensure risk decisions are optimized.
- The Credit function manages a large customer portfolio that includes a significant level of high risk customers, many of which are particularly vulnerable to economic contractions and interest rate spikes.
- This position will need to develop a solid understanding of the business, key drivers and business processes, both onshore and offshore. Motiva’s Credit function continues to evolve with Motiva’s growth and thus requires an entrepreneurial style. The successful candidate will need to demonstrate ability to withstand intense pressure and pushback from Commercial stakeholders, who may have different drivers, as well as the ability to make decisions (or recommend positions for senior management) in extremely short timeframes and to explain the rationale for such decisions in a robust and convincing manner.
- BA in Finance, Accounting or related business degree or applicable experience
- Approximately 15+ year credit or finance related experience with a strong understanding of financial statement analysis
- Self-starter with energy and drive
- Advanced MS Excel, PowerPoint skills required. Proficiency in relevant aspects of SAP and Motiva’s Credit System (Paragon) are expected to be acquired on the job
- Broad finance process knowledge with prior operational experience
- Strong communication skills, both written and verbal with the ability to work effectively with all level positions, both internally and externally, including executive management
- Strong diplomatic skills with the ability to make tough decisions and implement action steps to resolve credit issues while maintaining customer relationships
- Proven credibility with senior business and finance stakeholders, including the ability to present credit matters in the broader context of organizational priorities
- Experience in leading teams, ideally in complex or fluid situations, and inspiring junior staff in their broader career development
- Proven ability to work as part of a leadership team preferred, or otherwise experience in getting things done effectively
- In-depth understanding of the significant integration points between finance and other business processes
- Knowledge of downstream fuels and petrochemicals business in the US is highly desirable
- MBA, MSF, or other advanced business degree
- Knowledge of refined products, crude oil, and petrochemicals
- Knowledge of RightAngle (Version 14 or higher)
- Excellent organizational and analytical skills
- Ability to operate effectively at both a strategic and tactical level
- Ability to multi-task effectively
- Ability to sort through incomplete and ambiguous information to recommend or reach sound decisions
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