Credit Manager

Company:

INEOS Olefins & Polymers USA

Interested in joining a winning team? A team whose employees are empowered to make a difference?

Offer Range: $141,363 - $176,703

Organizational context and job purpose

INEOS Olefins and Polymers USA is one of the largest integrated producers of olefins and polyolefins in North America. From its primary manufacturing locations at Chocolate Bayou, near Alvin, Texas and Battleground Manufacturing Complex in LaPorte, Texas, with significant operations at multiple sites in the US for WL Plastics, as well as smaller operations at Cedar Bayou and near Hobbs New Mexico. O&P USA, produces and/or markets of butadiene, ethylene, polypropylene, and high-density polyethylene, NGL feedstocks and PE Plastic pipes with annual revenue of over $6 billion.

How the Role Fits In:

This role is responsible for managing and monitoring all the credit aspects of INEOS O&P USA portfolio of customer accounts in a manner that is consistent with INEOS O&P USA values, policies and procedures. This role provides strategic credit leadership and management in the areas of accounts receivable, collections, cash management, risk management, and compliance.

The Main Purpose of the Role:

The main purpose of the Credit Manager position is to set the direction and oversee the entire credit-granting and collection process, ensuring INEOS’ financial stability and minimizing risks. This includes assessing the creditworthiness of potential customers, establishing and/or recommending appropriate credit limits, implementing credit policies and procedures that are in alignment with all associated INEOS O&P USA delegation of authority and internal control systems. This role has frequent interaction and must build relationships within the commercial team. This position is very hands on. The Credit Manager also supports O&P business management in the Marina View (League City) office. A flexible work schedule is required to meet monthly, quarterly, and year-end financial book close deadlines.

Responsibilities AND Accountabilities

• This role is accountable for setting the framework for proper internal control environment and required compliance for the credit risk activity. This includes defining and implementing internal controls and adherence to the delegation of authority.
• Work Closely with customer’s accounts payable, finance departments, Sales, Customer Service, and Cash Applications groups on credit, invoicing, and cash application issues.
• Establish and maintain relationships with certain high risk, high exposure accounts, via their CFO and other finance contacts, in order to stay abreast of financial performance to better assess credit risks.
• Establishing and maintaining good relations with credit managers of competitors and similar companies within our marketing areas for credit reference purposes.
• Responsible for providing monthly credit updates to product line management, discussing high risk and past-due accounts, and proactively provide input on any potential credit issues/concerns.
• Seek to mitigate credit risk as necessary, including but not limited to various credit insurance options.
• Develop and manage payment agreements with customers, as well as engage and support in-house or external legal for claims against delinquent accounts, and follow these claims through the bankruptcy process, which may include participation on official Creditor’s committees.
• Represent INEOS O&P USA in industry trade credit organizations and work groups. Experience with the National Chemical Credit Association would be a plus.
• Supervise and manage the work of three credit analysts.
• Participate in the INEOS global credit network.
• Manage credit metrics.
• Perform financial statement analysis to assess the creditworthiness of counterparties and make recommendations as to appropriate credit limits.
• Handle special credit arrangements and deviations from standard terms of payment.
• Performing routine credit reviews of existing customers to substantiate credit terms and communicate with management accordingly.
• Performing periodic credit reviews of suppliers as part of supplier quality health check and communicate with management accordingly.
• Responding to credit inquiries on customers.
• Reviewing and releasing orders in a timely manner based on customer history, knowledge about the customer, and overall experienced judgment.
• Reviewing collection reports to ascertain the status of collections and balances outstanding and to evaluate the effectiveness of current collection procedures.
• Auditing delinquent accounts considered to be uncollectible to ensure adequate efforts have been taken before recommending bad debt status on an account.
• Placing accounts with collection agencies and attorneys as necessary.
• Compiling performance information and presenting at management meetings as directed by local management.
• Preparing and managing the monthly credit call process.
• Assisting management in the formulation of corporate credit management policies.
• Supervise and provide necessary support during the monthly financial close process so that the financial results are accurately completed on a timely basis.
• Work closely with the Controller and other members of the Finance & Accounting team.
• Work directly with the Commercial group and other key stakeholders at their location or in their business area to resolve issues and questions.
• Works with senior leadership to perform assessments of potential new business strategies and convey authorization conclusions.
• Uses commercial and financial risk procedures to evaluate and monitor risk for existing and proposed business strategies.
• Support management interpretation of financial transactions, events, and INEOS policies for users who must make economic or business decisions.
• Supervise preparation and review customer account reconciliations and follow up on any unresolved balance differences.
• Credit functional lead in gathering and providing documentation to Auditors, Federal and State Government Reporting, Governmental taxing authorities.
• Conduct staff performance reviews along and annual performance objectives that align with overall business targets. This includes identification of training or skills development using available resources such as the on-line training solution (Vector Solutions).
• Develops “how” or “new ways” to solve complex problems.
• Coordinates abstract concepts into opportunities to improve corporate performance.
• Actively identifies state of the art knowledge in other areas and adapts that knowledge to achieve business improvements.
  
  

Skills & Knowledge Required

Education/Experience

Level of education & Experience in general

• B.S. in Finance, Accounting or Business Management with 8+ year relevant experience required.
• Masters in business will be strongly considered as a positive.
• Preference given to candidates with financial experience related to Chemical, Oil and Gas, and/or Energy Industries.
  
  

Skills And Competencies

Technical skills

• Proficient in Credit management and setting Credit Limits.
• Expansive knowledge of SAP and Excel with recognized expertise in SAP Credit Management. Works with very strong analytical and superior problem solving & diagnosing skills.
• Experience in commercial and collections administration, especially in the chemical industry.
• Experience with Credit Rating Agencies and associated rating criteria
• Financial analysis experience, and knowledge of security documents, i.e. Letters of Credit and Guarantees.
• Understands and can design/explain highly complex technical accounting issues of a wide range of situations and performs work without supervision. Is a widely recognized expert in multiple accounting & finance fields.
• Diagnoses and solves complex, rare technical or process issues, and evaluates impact on business. Is frequently called upon by other organizations to assist in problem resolution.
• Knowledge of financial internal control processes.
  
  

Behavioral Skills

• Requires experience in team building, team management, and projects leadership.
• Presents ideas and concepts to non-discipline colleagues and management in a manner that is respectful and understandable.
• Primary objective of job is to motivate others to act; understanding, developing, motivating, negotiating, mediating conflict with technical staff.
• Creates an environment in which quality information flows freely between self and others; encourages open expression of ideas and opinions; builds effective teams
• Superior communication skills (both written and verbal) and the ability to influence both peers and management. Uses communication skills to share knowledge and expertise.
• Strong organizational and time management skills – a good portion of the work in this role is deadline driven.
• Strategic: Demonstrated ability to handle abstract problems with no known solutions.
• Visionary: Adapts to multiple/changing demands readily.
• Self-starting individual who can work independently and make decisions under minimal supervision.
  
  

Our culture is one of honesty and integrity with an emphasis on safety, health and environmental performance. On our team, people are acknowledged for embracing new practices that help create real value for customers.