Director, Credit and Risk Management

Company: Wheels
Location: Des Plaines
Posted on: September 15, 2023

Job Description:

Job Description:

Job Title: Director, Credit and Risk Management

Department: Finance - Credit and Risk Management

Date Updated: May 2023

Reports To: VP, Finance

SUMMARY

The Director, Credit and Risk Management is responsible for credit and risk management for the company's $8+ billion commercial fleet lease portfolio. The position is also responsible for corporate risk management, corporate insurance, preparation of customer lease buyouts, and general corporate compliance.

Given the unique time of the company's evolution, the Director of Credit and Risk Management will dedicate significant time to integrating the credit risk functions of three companies into one unified and cohesive Credit Department, ensuring common policies, procedures, terminology, tools and analysis in the department.

Portfolio credit and risk management entails initial prospective client screening, credit underwriting, periodic credit reviews, management of overall portfolio exposure, portfolio reporting, maintenance of credit files, structuring of credit enhancement to protect Wheels from losses and collaboration with the Manager of Accounts Receivable to reduce risk associated with clients suffering financial stress. This highly visible role requires collaboration with Sales, Legal, Account Managers and Senior Management to approve all new business, to periodically adjust the structure of existing credit relationships. The Director of Credit will play an instrumental role in managing the company's Credit Risk Committee and will hold limited credit approval authority.

As the Director responsible for Wheels' corporate insurance programs, this position is responsible for ensuring that sufficient insurance markets exist to provide adequate insurance protection at a competitive cost to Wheels. The position is also responsible for the staff members who verify and track insurance certificates from each customer, as well as the maintenance of applicable business licenses.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

• Analyze prospective clients using fundamental financial analysis techniques including balance sheet, income statement and cash flow measurements, as well as industry factors and portfolio concentration issues.
• Decision and/or recommend approve/decline decisions for all credit actions for both new and existing clients.
• Serve as the Secretary of the Credit Risk Committee.
• Manage the quarterly and annual review process for the portfolio.
• Develop and maintain a "Watch List" to provide appropriate internal communications and ongoing monitoring. Track changes in each client's legal structure, financial profile, and industry trends that could impact the business relationship or their credit position.
• Build and foster productive relationships with the Sales team and interact with clients and prospects as needed regarding credit assessment.
• Complete periodic portfolio reviews and produce industry research to assist the sales effort in acquiring or avoiding business in various industries.
• Partner with insurance brokers to renew insurance for all corporate entities, and actively review opportunities to better manage the company's risk and to enhance the insurance markets available to the company. Manage the insurance validation and claim processes.
• Manage the corporate formality process to ensure that business licenses and other required filings are accurate and are processed on time.
• Review corporate non-lending contracts to ensure that risks to Wheels are minimized to the extent possible. SUPERVISORY RESPONSIBILITIES
  • Manages up to 4 direct reports and an overall team of 10-12.
  • Responsible for setting goals and objectives, conducting performance reviews, coaching, training, and allocating work to staff.
  • Responsible for evaluating and implementing new or more efficient processes.
  • Carry out supervisory responsibilities in accordance with the organization's policies and applicable laws.
    QUALIFICATIONS /EDUCATIONS and/or EXPERIENCE
    
    The ideal candidate is a dynamic, business focused financial professional with 10+ years of work experience that includes hands-on commercial credit experience in a corporate banking and/or a commercial fleet/equipment leasing environment, and experience reviewing legal contracts. Participation in a credit training program and some management experience is required. Prior experience with insurance is desired. Educational credentials must include a degree in finance, business, or accounting. MBA is a plus.
    
    This position involves ongoing interface with senior management and the sales team plus external contacts that include customers, lawyers and government officials; therefore, outstanding written and verbal communications skills are essential. The successful candidate will demonstrate strong interpersonal skills and the ability to interact in a variety of business settings.
    
    Demonstrated analytical skills and good attention to detail are also required. This position is ideally suited to a results-oriented professional who is seeking the opportunity to become actively involved in key business decisions. Integrity, intelligence, flexibility and commitment are all important attributes. The right person will be able to fit into an organization that prides itself on customer responsiveness, strong values, and high performance.
    
    PHYSICAL DEMANDS
    • Ability to operate a PC keyboard
    • Ability to read and analyze financial statements and legal contracts
    • Excellent business writing and presentation skills
    • Ability to function well under pressure and to remain engaged in work for long time periods
    • Ability to prioritize work for self and staff
      EEO Statement
      Wheels Donlen is a Drug-Free Workplace. All employment is contingent on successful completion of drug and background screening.
      
      Wheels Donlen is an equal opportunity affirmative action employer and administers all personnel practices without regard to race, color, religion, sex, age, national origin, sexual orientation, gender identity or expression, marital status or domestic partnership status, disability, protected veteran status or military status, genetic information, or any other category protected under applicable law. Wheels is committed to taking affirmative steps to promote the employment and advancement of minorities, women, persons with disabilities and protected veterans.

Keywords: Wheels, Des Plaines , Director, Credit and Risk Management, Executive , Des Plaines, Illinois