My Resume Resume Details

CREDIT / RISK / FINANCE EXECUTIVE

Proven Manager with strong Background in Commercial Credit / Finance Department Management, Policy Setting and Implementation, Staff hiring, evaluating and training, Credit / Risk Management, Credit Insurance Underwriting, Energy Credit Management, Cash Management,  Credit and Collections, Financial Analysis and Budgeting, Supervision and Problem Resolution. Managed Wholesale Trading and Commercial Aggregating Departments for 2 large Deregulated Gas Marketer / Distributor / Energy Projects companies as well as Centralized A/R Department for 40 Waste Management Divisions with revenue in excess of $1 billion dollars. Set policy, trained staff, analyzed risk portfolio to determine assets credit/market risk and implemented policy to collect troubled accounts. Assisted in analyzing, structuring and finalizing Large Internally, Externally, and Third Party Financed deals. Consistently exceeded goals for risk management, poor account collections and bad debt write off's while supporting sales efforts. Extensive interaction with varying customer types as well as all levels of management and staff. Skilled negotiator. Completed MBA degree while working full time. Currently sit on NAFTA Local Credit Committee panel in charge of approving large and difficult group and individual credit exposures.

CREDIT / RISK / FINANCE EXECUTIVE

Proven Manager with strong Background in Commercial Credit / Finance Department Management, Policy Setting and Implementation, Staff hiring, evaluating and training, Credit / Risk Management, Credit Insurance Underwriting, Energy Credit Management, Cash Management,  Credit and Collections, Financial Analysis and Budgeting, Supervision and Problem Resolution. Managed Wholesale Trading and Commercial Aggregating Departments for 2 large Deregulated Gas Marketer / Distributor / Energy Projects companies as well as Centralized A/R Department for 40 Waste Management Divisions with revenue in excess of $1 billion dollars. Set policy, trained staff, analyzed risk portfolio to determine assets credit/market risk and implemented policy to collect troubled accounts. Assisted in analyzing, structuring and finalizing Large Internally, Externally, and Third Party Financed deals. Consistently exceeded goals for risk management, poor account collections and bad debt write off's while supporting sales efforts. Extensive interaction with varying customer types as well as all levels of management and staff. Skilled negotiator. Completed MBA degree while working full time. Currently sit on NAFTA Local Credit Committee panel in charge of approving large and difficult group and individual credit exposures.

PROFESSIONAL EXPERIENCE

Senior Underwriter - Special Risk Manager

Atradius Credit Insurance- Baltimore MD Dec 2000 - Present                                                                                  

Senior Commercial Credit Insurance Risk Manager handling Special Risk Trouble Accounts in NAFTA area. In charge of US intensive care (Special Risk) underwriting cases in many sectors including Energy, Chemicals, Construction, Telecom, Airlines etc., for #2 Credit Insurance Company in the world. Active member of Company Local Credit Committee responsible for approving credit limits and exposure above $40 million EUR and setting underwriting policy for NAFTA region. Manage large number of troubled Special Risk account exposures (>$1.0 million EUR individually and above) with entities near bankruptcy in given sectors. Key player in international workouts.  Work closely with field, executive management at all levels, customers and buyers to resolve and trouble shoot all underwriting issues and past due filings on every level. Assist with legal discovery and advised both customers and buyers as to proper and best practices. Maintained a 10.0 million EUR individual credit approval authority. Trained numerous junior staff in financial analysis, risk analysis and proper procedure.

• Active member of US Credit Committee setting policy for group and approving exposures above $40 million USD. Responsible for training Junior Underwriters and authorization their credit limit approval levels.  Performed Due Diligence in recent company M&A analysis.
• Responsible for troubled sector analysis (Energy/Airlines/Chemicals/Tech/Telecom) and the develop of underwriting strategy and implementation to minimize risk exposure. Responsible for underwriting policy and coverage on trouble buyers and maintaining relationships as business deteriorates
• Saved the company millions in the Enron, Worldcom, UAL, US AIR , Kmart as well as other bankruptcies by identifying problems with operations/accounting prior to meltdown and securing, withdrawing risk exposure prior to bankruptcy filing.
• Recovered several million USD from Mexico is disputed commodity issue, as well as several million in Dominican Republic troubled account commodity workout.
• Key player in the development of a commodity forward credit insurance policy. Strong exposure to Commercial credit analysis in the Energy, Airline, Waste, Retail and Manufacturing sectors.       

Corporate Credit Department Manager - (Credit Process Owner-Pepco Energy Serivices)

Pepco Gas Services Inc and Pepco Services Inc. (PEPCO sub) Columbia MD, Sept 1999 - Dec 2000

Company relocated - refused relocation

Manage all Credit, AR, functions and Customer GISB/Base Sales Contracts for Deregulated Marketing Arm and also the Energy Products and Services arm of Pepco (Division and Corporate level). Set Credit policy for entire deregulated gas, electric and projects divisions and became process owner ensuring that all divisions are in compliance to policy. Set and enforce all credit lines for wholesale, retail and energy services business. Monitored cash flow daily and reported on estimated cash projections to all levels of management. Assisted in Budget and Due Diligence process. Authorize credit limits and financing structure for in house financed energy related projects. Directly involved with workout of troubled energy accounts. Negotiate secured arrangements with less than credit worthy entities and banking entities. Currently assisting in setting up Nucleus Energy Trading System designed to be state of the art Risk, Credit and Energy Trading software.  Assist Electric Marketing sub with Credit, AR and Due Diligence function as need. Report directly to president of operations (Company Level) and Corporate Parent CFO.

• Saved Company over 1.25 million dollars by securing transaction of two existing companies which later defaulted.
• Secured all wholesale/retail gas contracts for existing customers. Assisted in developing advisory contract.
• Set Credit Policy for entire corporation spanning several divisions. Developed reports to communicate

results to all levels of management.

Credit Department Manager

Constellation Energy Source, Inc. (BGE Affiliate) Baltimore, MD  1998-1999 Company Restructured 

Manage staff of 3 credit people responsible for setting wholesale gas trading credit lines as they relate to  gas commodity wholesale trading and retail gas commercial accounts for a large Mid-Atlantic deregulated natural gas marketer/distributor and energy service company with revenues near $450 million dollars.  Negotiated secured arrangements for less than credit worthy accounts and monitored compliance to credit line and payment terms. Assisted in assessing mark to mark forward exposure risk via Primo and VAR.  Worked with staff to analyze, reconcile and resolve troubled account balances and collect past due balances. Tracked performance and results and reported to upper management. Performed numerous credit reviews and set credit lines on Wholesale, Retail, Commercial and Governmental Energy Projects and Sales accounts. Directly responsible for all Energy Projects Credit Approval and Collections. Assist in analyzing, structuring and setting up internal, external and third party financing arrangements for large Energy Construction Projects. Worked with Utility to bill and track Utility and Third Party related payments to ensure prompt and accurate payment processing, cash posting and accounting.

• Set policy for entire Credit Department with regards to Wholesale Trading, Commercial and Energy Products and Services accounts. Reviewed and analyzed troubled accounts to set policy to collect balances due. Tracked activity and results and reported to management.
• Directed department through massive reconciliation project of 80% of the Commercial Accounts
• With staff, lowered departmental over 90 day balance by 60% in one year and decreased DSO.
• With Controller, established ISDA contract language for counter party derivative trading
• Worked with commodity trading unit to keep Wholesale Accounts within secured Mark to Market credit line. Used Primo and VAR Reports to track forward exposure as it related to Credit / Market Risk. Analyzed account exposure and reported on potential future problems.
• Request, review and work with Legal area to validate Guaranties and Letters of Credit and credit worthiness of issuing party.
• Worked with Collection Agency and Lawyers to collect and initiate suit upon bad debt accounts
• Compiled analysis to set bad debt accrual budget and monitored progress periodically
• Worked with MIS to develop new dedicated computer software for Credit / Collections
• Administered Credit Insurance Policy and enforced Credit Lines and Secured Arrangements

Credit and Accounts Receivable Department Manager

The Lehigh Group, Macungie, PA   1992-1995 and 1997-1998

(Returned to former position after declining Waste Management restructuring relocation to Chicago)

Directed all Credit and Accounts Receivable functions for Cordage and Work Related Products Manufacturer and Distributor for 3 companies with revenue over $100 million dollars. Customer base included Home Center and Retail Industry in the U.S., Canada, Mexico, and England. Assessed and monitored Financial Stability of all accounts to establish credit limits and lending amounts. Worked closely with Customers, Sales, Controller, Manufacturing and Shipping, as well as the Company President to ensure cash flow, reduce charge backs, and eliminate write off's for over 1000 commercial accounts.

• Led Department through 2 acquisitions. Set and maintained policy through systems conversion of data and maintained excellent write off and collection levels through this process
• Maintained 90 day past due balance of less than 2.5%
• Reduced Bad Debt write off significantly while not compromising sales
• Exceeded goals and objectives for improved cash flow while managing $6-12 million in average monthly Accounts Receivable
• Negotiated Bar Code System with Carrier to save thousands of dollars in Shipping Shortage Claims
• Increased cash flow by thoroughly researching and reconciling accounts with discrepancies and charge backs. Reduced Preferential Payment claim from $250,000 to $5,000.

Controller

Waste Management, Inc., Morrisville  PA  1995-1997

Managed Centralized Regional Accounts Receivable Department for seven state Mid Atlantic Group with 32 divisions, 8 subsidiary's and revenue exceeding $1 Billion Dollars. Supervised 11 Staff members who reported directly to me. Oversaw and directed all Accounts Receivable and Bad Debt reporting at Group level. Managed and developed Central Accounts Receivable Department write off budget. Assisted with legal suits to obtain judgements for contract non-compliance. Assisted divisions with Credit Evaluations, Promissory Notes, Secured Documentation and Verbiage as well and Financial and Tax analysis.

• Set Centralized Collection Policy and ensured compliance by all divisions. Analyzed business lines by types to estimate collectability and set policy to resolve problematic collection issues. Reported on status to all levels of Management.
• Hired / Trained staff members. Administered Bad Debt Collection agency placement for all divisions.
• Department lowered over 90 day past due balance and days sales outstanding for numerous divisions
• Led department though rapid expansion from 10 to 40 divisions
• Assumed Position of Tax Department Manager during corporate restructuring and worked with staff of 6 to ensure proper and timely filing of corporate tax returns for 100+ divisions.

Assistant Regional Credit Manager

Caloric Corporation, Topton PA  1990-91

• Managed 1000 commercial accounts for appliance manufacture

Investment Relations Manager

Merchants Bank, Allentown, PA 1989-1990

• Executed trades and trouble shot investments for Trust Accounts

Staff Auditor

Meridian Bancorp, Reading PA 1988-1989

• Performed Departmental Audits and tested transaction in all areas of a large regional bancorp

Collection Manager

Ingersoll-Rand Financial Corporation, King of Prussia PA  1986-1988

• Managed collection activity for 1300 secured commercial accounts worth $83 million
• Achieved collection goals 6 months straight

EDUCATION AND PROFESSIONAL DEVELOPMENT

MBA, Finance and Marketing

Wilkes University, Wilkes Barre, PA  1991

BA, Business Management, Cum Laude

Allentown College of St. Francis de Sales, Center Valley, PA  1986

Computer Skills and Professional Development

Mainframe and PC, Word, Excel, MS Office various dedicated software

Completed thorough Management Training Course and Fixed Asset Course  (Waste Management)

NACM Advanced Financial Analysis Course (DuPont Model, Gallinger Number Cruncher) 2004

CPA Provident Bank Lending Seminar 2000

Member National Association of Credit Managers (NACM)

Exhibiting Member International Energy Credit Association (IECA)

Authored "10 Hiding Places in Business Credit" Magazine Article

Presented credit analysis slide presentations to Shell Canada, 2 NACM Groups