Manager of Region Risk - Central Region

 

MANAGER REGION RISK- CENTRAL REGION

VW CREDIT, INC.

COMMERCIAL CREDIT RISK MANAGEMENT DEPARTMENT

PLEASANT PRAIRIE, WI

POSITION ANNOUNCEMENT # 4946

 

 

Due to a departmental realignment and a redefining of responsibilities within the Commercial Credit (Wholesale) Risk Management department, VW Credit, Inc. is pleased to announce an opening for a Manager of Region Risk.  This region-based position reports directly to the Manager of Commercial Credit Risk, and is located in Pleasant Prairie, Wisconsin (near Kenosha, Wisconsin and the Chicago area).

 

POSITION SUMMARY

Following a realignment of responsibilities within the Commercial Credit Risk Management Department, the former Wholesale Team Leader (?WTL?) position is being repositioned, renamed and re-banded from a supervisory Band 4 position to a Management-level Band 3 position. 

 

Taking strategic direction from the Managers Commercial Credit Risk and the General Manager, Commercial Credit the Managers Region Risk (?RRMs?) are responsible for managing and executing the risk management function within the Region.  They are charged with establishing and directing a disciplined region risk management team that protects the Credit Company from the risk of credit loss resulting from failed dealership operations and/or fraudulent transactions. 

 

The RRM is responsible for leading, managing and executing the portfolio analytics and loss mitigation efforts for the respective region portfolio.  Supporting and reporting to the RRM is a region risk team consisting of one Band 4 Region Risk Analyst (new position) and a field team of four to five Band 5 Collateral Protection Specialists.

 

In carrying out this responsibility, the Managers and their teams are responsible for three primary functional areas (1) Ongoing Portfolio Analytics & Collateral Inventory Audits (2) Pre-emptive Loss Mitigation through Work-out & Disengagement; and (3) S.O.T. Management & Loss Mitigation through Work-out/Forbearance and/or Liquidation of Assets for Sold Out of Trust accounts. 

 

In addition to these three primary functions, the RRMs are separately challenged and responsible for recruiting, training and mentoring region teams of Analysts and Specialists for development into future Risk Managers.

 

PRIMARY POSITION RESPONSIBILITIES

 

Portfolio Risk Management & Collateral Protection (Inventory Audits) (approx. 60% of Time)

 

? Taking strategic direction from the Managers Commercial Credit Risk, the RRM leads the Region?s Portfolio Risk Management efforts ensuring that the strategic direction is being followed and that all tactical measures in support of the direction are being efficiently executed in accordance with benchmarked policies and procedures.

 

? The RRM ensures that required source information (monthly financial statements, monthly reports, vehicle audit reports, covenant compliance, monthly reviews, tax returns, etc.) is being submitted/received and/or performed in accordance with expected timelines, that the proper analytics and trending is carried out by the Region Analyst, CPSs and region colleagues, and that areas of heightened risk are identified, communicated and acted upon with a sense of urgency.

 

? The RRMs will direct and manage the Region?s collateral protection function ensuring that vehicle audits and audit reporting and analysis is carried out in accordance stated policies and procedures as established by the Managers Commercial Credit Risk.  Included among these duties are:

 

-  Establishing a risk-based schedule of inventory field audits while ensuring that the requirements of randomness and variability of the auditors are maintained.

-  Payment/Trend analysis of inventory audits.  The RRM is responsible for ensuring that each audit is reviewed and measured against expected performance guides in an effort to identify potential signs of financial stress and or the potential loss of collateral.  Additionally, the RRM is to review the audit in the context of prior audits, performing payment trend analysis so as to identify changes in dealer payment behavior in an effort to detect early warning signs of cash-flow problems and/or financial stress.

-  When audit irregularities and/or trend anomalies occur, the RRM is charged with initiating immediate follow-up inquiry and investigation by the BDM or other region personnel into the source of the observed payment irregularity, and making a determination if the explanation is satisfactory or if further action is necessitated.

 

? Relying on the financial analytics, trend analysis and audit performance, the RRM and the region risk team are charged with early identification of accounts presenting increased risks of credit loss, stratifying those accounts by their degree of risk, establishing a region ?Watch List? of high risk dealers, tailoring elevated account-specific monitoring and mitigation tactics as warranted by the observed and measured analytics, and prioritizing and aligning available region and corporate resources to effectively monitor and manage the respective high risk accounts.

 

? The range of mitigation tactics may include increasing the audit frequency to mirror the risk, ordering (or accelerating) and performing Equity Verifications/Bank Cut-offs, assigning accounts to the Region ?Watch List? for additional scrutiny, directing investigation and further inquiry in to questionable financial statements, and developing risk mitigation plans and tactics with the Commercial Credit Risk Managers and coordinating those plans with Region Management. 

 

? Additionally, for watch list or other financially troubled dealers, the RRM will be required to establish a relationship with the subject dealer?s ownership and management, requiring that the RRM routinely accompany the Region sales colleagues on dealer contacts.

 

? Relying on all of the observed data, reports, trends, observations and experience, the RRM is responsible for advising Risk Management and Region Management of increased credit risk accounts, and proactively developing recommendations and actions plans for mitigating and managing the subject accounts.

 

Pre-emptive Loss Mitigation - Work-out / Disengagement (approx. 20% of time)

 

? Through their Portfolio Management efforts, the RRMs and their teams will identify dealers whose current financial position or trending deterioration is such that they represent an increasingly unacceptable risk of credit loss to the company. When such dealers are identified, the RRMs are charged with initiating and developing proactive account management plans that preemptively work to mitigate the risk of loss; communicating and developing those plans with the support, input and direction of the Managers Commercial Credit Risk and Region Management; and implementing and coordinating Risk and Region resources in execution of the plan. 

 

? Proactive Account Management Plans may involve setting up a system of tactical controls such as initiating Prior Approval, increasing the audit frequency, assigning watch list status to the account, scheduling and performing an accelerated Equity Verification; or they may include broader strategic actions such as the development of a viable and credible work-out plan that restores the account to a favorable status.  Potential work-out plans include: a Dealer Recapitalization Plan (if the primary identified problem is one of capitalization); a Dealer Business Plan (if the primary identified problem is operational or cash-flow based); or a Disengagement Plan (if the account represents a credit risk where a turnaround is unlikely or impossible).

 

S.O.T. / Forbearance & Work-out / Liquidation (10% of time):

 

? Taking direction from the Managers Commercial Credit Risk and working in cooperation with region management, the RRMs will lead and direct the in-dealership loss mitigation and containment activities in the short-term management of financially distressed dealers that exhibit a Sold Out of Trust (?S.O.T.?) condition:

 

-  Lead, direct and order the performance of Equity Verifications (Bank Cut-offs) to establish the financial solvency and stability of financially distressed dealers;

-  Lead, direct and assign field/corporate personnel in the performance of ?Keeper? duty and related mitigation tactics to preserve the assets of the credit company.

-  Participate in the preparation, review and follow-thru of forbearance agreements.

 

? Taking direction from the Managers Commercial Credit Risk, the RRMs will carry-out the agreed upon work-out / disengagement plan as determined by Risk and the Region?s senior management, ensuring that the company is protected against the risk of credit loss during the work-out period, and ensuring that all actions are performed in a manner that minimizes the risk of Lender Liability.

 

? Liquidation of Assets ? In situations where work-out and/or forbearance has failed, the RRMs, will assist in the orderly liquidation of assets either through voluntary liquidation, or with the assistance of counsel in following through on replevin of inventory and/or foreclosure on Real Estate Mortgages/Deeds of Trust.

 

Additional Responsibilities ? Personnel Development (approx. 10% of time)

 

? Participate in the Recruitment of high caliber upwardly mobile professionals for development into top performing Risk Managers

? Developing and mentoring colleagues for growth within the Risk Department and fostering an environment of life long learning.

? Defining role responsibilities, assigning tasks and setting authority limits.

? Working with colleagues to set attainable objectives and priorities, motivating their behavior and celebrating their successes

 

REQUIRED QUALIFICATIONS

 Experience

? 7 ? 10 Years of Combined Professional Experience with emphasis in the following areas

o  5 Years - Commercial Lending with a Major Banking Organization or Captive Finance Company or related experience

o  5 Years Combined Automotive Wholesale or Captive Experience (preferably with 2+ years in a Field based role calling on Dealers) or related experience

 

Unique Skills

? Knowledge in the financial analysis of closely held corporations, partnerships, sole proprietorships and conducting business in automobile retailing

? Working knowledge of dealership accounting; familiarity with GAAP

? Demonstrated expertise in the measures of Corporate Liquidity, Capitalization and Solvency, Cash Flow, Asset Utilization and Efficiency, Return on Invested Capital and Profitability

? Working Knowledge of Statistical Analysis

? Demonstrated Computer skills using Windows, Excel, Focus, Word, Power Point, Access, Business Objects

 

Competencies

? Collaboration

? Customer Focus

? Process Orientation

? Results Driven

? Team Management

? Change Leadership

? People Development

? Strategic Leadership

 DESIRED QUALIFICATIONS

Education

? Bachelors Degree in Accounting, Finance or related major from a Top Tier Program

? MBA with Accounting, Finance or related major

? Certified Public Accountant or Certified Management Accountant

 

Note:  Ability and willingness to relocate into future assignments is mandatory.

 

APPLICATION PROCESS

 

If you are interested in this position and meet the qualifications, please submit your personal information via the following on-line link. 

 

https://secure.recruitingcenter.net/clients/vw_audi/PublicJobs/Canviewjobs.cfm