Credit Risk Management Director
Company: Dairy Farmers of America
Location: Kansas City
Posted on: May 8, 2024
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Job 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: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
risksWork 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
Keywords: Dairy Farmers of America, Lee's Summit , Credit Risk Management Director, Executive , Kansas City, Missouri
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