Director – Credit

Job Summary

The role holder is responsible for driving business strategy, policies and guidelines related to Credit and supporting Financial Policies & Compliance/Financial Control practices to ensure alignment and compliance with strategy and objectives. The role holder is also responsible for guiding and delivering of periodic reviews of processes and procedures in order to streamline processes and validate efficiency of operations within the Finance Sector as well as to verify compliance with existing standards. The role holder shall carry out his duties in accordance with the stipulated business policies and procedures.

Key Responsibilities

Managerial Responsibilities

• Participates in the development and implementation of the Financial Policies & Compliance General Directorate plans.
• Directs and manages the Credit department mandates, providing leadership and facilitating work processes in order to achieve high performance standards.
• Manages and controls change in the Credit department providing guidance and support, necessary for continuous improvement.
• Ensures compliance with organizational policies, procedures and quality standards in the Credit department.

Core Responsibilities

Credit Polices & Planning

• Ensures smooth running of the credit disbursement process, including the participation & contribution towards setting up appropriate credit plan & policies and procedures with respect to each Business Units.
• Review credit proposals as forwarded by relevant Business Units to maintain a equilibrium between return and risk exposure of the company.
• Reviews, benchmarks and evaluates corporate credit plan, policies and procedures and recommend changes in overall credit management as and if needed.
• Provide input and introduce new innovative approach and initiatives in management of STC’s Credit policies and procedures to increase efficiencies & effectiveness to the process
• Maintain strong understanding of applicable credit regulations affecting credit and collection procedures

Credit Monitoring & Reporting

• Employs credit monitoring, analysis and periodic credit reviews of customers and vendors creditworthiness and evaluates STC’s exposure to credit risk, with the goal of supporting the mix of company sales and minimizing bad debt losses.
• Monitor the credit portfolio of the company for maximum credit limit on customer accounts, handling special credit arrangements and deviations from the standard terms of payment.
• Review customer complaints related to credit, and undertakes necessary actions within the ambit of approved credit polices to satisfy their requirements
• Monitor compliance with the Credit Regulations, policies and procedures, and liaison with the internal and external audit directives to ensure that current credit policy is consistent with the requirements, and takes steps to correct any discrepancies
• Reviews collection reports to ascertain the status of credit recovery, and outstanding balances.
• Oversees the preparation of different credit exposure calculation models using modern statistical techniques i.e. Exposure given default, Value at risk, Credit score card, and estimated probability of default
• Oversees customer records are adequately created, maintenance and periodically updated.
• Audit delinquent accounts and determine if they are collectible and to ensure assigning bad debt status to the account.
• Schedules/Plans physical visits to critical customers with Collection team to assess creditworthiness.
• Builds relationships and directs the sharing of data with external credit bureaus such as SIMAH, etc.

People Management Responsibilities

• Defines goals and key performance indicators for each member of the team and ensures effective application of the STC performance management process.
• Directs planning and selection of manpower in the Credit department, in line with the business and operational plans.
• Ensures high level of employee engagement and capability development by providing on-going feedback and coaching team members within the Credit department.
• Performs other responsibilities and tasks as directed by the General Manager – Financial Policies & Compliance in order to meet business objectives.

Qualifications

• Bachelor’s degree in Business Administration, Finance or a related discipline
• Master’s degree in Finance or Business Administration is preferred
• Professional certifications such as CA, SOCPA or equivalent is preferred.

Years of Experience

A minimum of 8 years of relevant experience with at least 3-4 years in a similar role.

Nature of Experience

• Prior managerial experience in financial control in a large-scale service oriented industry is strongly preferred
• Prior experience in Credit Policies & Planning.
• Prior experience in Credit Monitoring & Reporting.

Desired Skills & Knowledge

• Strong quantitative and analytical skills
• Good understanding of telecommunications industry
• Excellent judgment and creative problem solving skills including conflict resolution skills
• Principles of financial management and analysis, including an understanding of key Credit metrics and ratios, indicators, etc.
• Knowledge of internationally accepted current accounting standards of US GAAP, IFRS and IAS.