Qualifications for Executive-Level Credit Management
PROFILE
Decisive, detail-oriented finance professional with 14 years of experience in credit risk management and
12 years of experience as a senior manager administering a full-service credit operation. Proven track record
in contributing to financial success and innovative growth. Capably coordinates the implementation of automated
financial systems. Consistently exceeds company goals and budget plans for increasing credit sales, improving
service, and reducing losses. Adept in hiring, training, developing, and retaining highly motivated personnel.
Expertise encompasses:
P&L Responsibility
Forecasting
Project Management
Financial Analysis
Regulatory Compliance
Call Center Management
Budget Preparation
Auditing
Account Management
SELECTED CONTRIBUTIONS
* Cut credit losses 9.5%, reduced contractual delinquency 18.2%, and produced a 3.8% increase in new accounts for
Friedman's in FY2004.
* Expanded Friedman's borrowing base on receivables from 60% to 72%, representing $34,200,000 in eligible
receivables. Grew current receivables from 49% to 77%, or $79,000,000.
* Played a key role in implementing system enhancements and a scoring model that reduced bad debt nearly $4,500,000
for FACS Group Inc.
* Established a call management system for FACS Group Inc. that leveraged three inbound call centers to improve the
cost efficiency of managing the credit granting process and providing improved service to the stores.Reduced
staffing costs by $200,000 by utilizing less expensive labor in one of the call centers.
* Reduced Joseph Horne Company Inc.'s check losses 35% by initiating a partnership with a check acceptance company.
Spearheaded system enhancements that reduced credit losses 26% while cutting staff 45%.
* Developed a call management system and a reporting group within Joseph Horne Company Inc.'s credit authorizations
organization, which not only enhanced service, but also reduced credit fraud 8%.
CAREER TRACK
Friedman's 1997 to 2005
Vice President of Corporate Credit
Directed all aspects of credit for 714 stores, including coordinating legal matters with counsel, conducting credit
compliance audits, and providing leadership to eight divisional credit directors. Managed $285,000,000 in accounts
receivable; handled all collections. Administered risk management. Trained credit staff.
* Established a customer service call unit as well as a bankruptcy department.
* Instituted new credit policies, procedures, and systems, including those for credit granting, customer service,
and collections. Implemented a debt recovery process as well as early-out collection assistance.
* Validated and implemented an innovative credit scoring model. Centralized credit authorizations.
* Improved recoveries from $880,000 to $8,200,000 in five years.
* Boosted credit sales from 51% to 59%, representing additional annual credit sales of $32,000,000.
* Reduced bank audit points from a high of six concerns to zero issues for the last three years.
FACS Group Inc. 1994 to 1997
Vice President of Credit Granting, 1996 to 1997
Group Manager of Authorizations, 1995 to 1996
Group Manager of New Accounts, 1994 to 1995
Managed the opening of new accounts and the authorization of credit for 8,100,000 active credit customers of
Federated Department Stores. Administered credit granting at two satellite sites: Clearwater, Florida and Tempe,
Arizona. Authorized $6,200,000,000 in credit sales. Prepared and controlled an annual budget of $12,400,000.
Responded to 15,300,000 inbound credit granting calls in 1996.
* Drove the creation of 3,100,000 new accounts in FY1996.
* Developed enhanced systems for more efficiently processing proprietary new accounts and credit authorizations.
Cut average call service response times from 52 seconds to 28 seconds.
* Implemented system enhancements that reduced agent talk time by as much as 45%, which resulted in a $1,200,000
reduction in payroll expenses.
* Orchestrated the conversion of Macy's Department Stores' credit functions from GECC to FACS, which boosted credit
volumes and staffing requirements 50%.
* Achieved two consecutive years with zero internal audit issues.
* Expanded the training and associate relationship programs to address turnover, which was reduced by nearly 15% in 1997.
Joseph Horne Company Inc. 1986 to 1994
Credit/Collection Manager, 1991 to 1994
Collection Manager, 1986 to 1991
Credit Supervisor, 1986
Oversaw all aspects of credit operations, to include collections, authorization, new accounts, and customer service.
Managed 16 satellite customer service/credit offices located within various stores. Addressed store concerns by
conducting store visits and presenting training sessions.
* Led AMC (retail group) stores to achieve top ranking in all areas of credit for six years.
* Increased credit sales to 71% of total business.
* Improved collections 7%, representing additional monthly revenues of $1,100,000.
* Established a new accounts marketing department to handle account solicitation and activation.
* Fueled a 200% increase in productivity by installing an automated collection and dialing system as well as
designing a new training program for collectors.
* Replaced a manual system for processing financial transactions with an automated, online system.Automated other
aspects of operations to streamline customer service and reduce payroll expenses.
National Association of Credit Management of Western Pennsylvania
Prior to 1986
Assistant Collection Manager
Collected, investigated, and performed financial analyses for corporate accounts. Conducted commercial third-party
collections of receivables. Processed bankruptcy proof of claims. Negotiated and secured claims with local magistrates
and attorneys. Managed the commercial claims department, including training and supervising collections personnel.
Attended industry group credit meetings.
* Consistently met company expectations for personal collections.
* Expanded client collection volumes by initiating relationships with companies in the Pittsburgh market.
* Played a key role in growing departmental revenues by a minimum of 7% annually.
* Boosted overall profit by adding three industry groups.
EDUCATION
Bachelor of Science in Psychology/Business (Dual Major), Duquesne University
Associate's Degree in Business Administration, Robert Morris College
National Retail Credit Seminars, NRA |
