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Credit Manager

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CITGO

2mo ago

  • Job
    Full-time
    Mid Level
  • Houston
    Remote

AI generated summary

  • You need a bachelor's degree, 3 years of experience, strong financial skills, corporate credit knowledge, communication skills, and proficiency in Microsoft Office; SAP knowledge is preferred.
  • You will assess creditworthiness, monitor accounts receivable, assist in collections, provide account guidance, collaborate on contracts, establish payment plans, and stay updated on industry trends.

Requirements

  • Bachelor's degree
  • 3 years of job related experience
  • Requires high level of financial skills to perform risk and reward and trend analysis
  • High level of knowledge of corporate credit management policies, skills to investigate, analyze and evaluate credit
  • Ability to advise others of existing and potential customers where growth and restrictions are warranted
  • Strong communication and interpersonal skills to protect company interest
  • Competent to work on complex projects and recommend changes where needed
  • Minimal supervision
  • Basic to moderate knowledge of Microsoft Office is required
  • SAP knowledge is preferred

Responsibilities

  • Assess the creditworthiness of existing and potential customers to determine appropriate credit lines, while maintaining a risk and reward balance. Approved credit lines up to delegated level of authority, and specific advice and recommendation to approve credit lines that exceed the delegated level of authority and or to approve unusual credit arrangements, such as non-standard payment terms, among others. Conduct periodic and ad hoc credit evaluations on existing accounts within the framework established by CITGO Credit's policies and procedures and adjust approved credit lines as needed.
  • Control customer account balances within established terms and limits by monitoring accounts receivable levels. Investigate and initiate collection of past due items. Review orders placed on credit hold because of SAP dynamic credit check to determine whether to release, or if prior to releasing, specific actions are required from the customer payment or provision of security.
  • Assist the Accounts Receivable department by identifying the AR items included in wire transfers and ACH payments to properly offset outstanding debit and credit balances. This may involve contacting counterparty personnel to request remittances for any unidentifiable payments.
  • Provide guidance to CITGO Pricing and Customer Service in the preparation of difficult adjustments to customers' accounts.
  • May collaborate with Contracts, Legal, and Marketing on key credit aspects related to the execution of commercial contracts and master agreements. This requires basic knowledge of contract law and its application to product sales and purchase contracts.
  • Maintain active communication with Legal to review, revise, and or draft collateral documents, contracts' clauses, and other credit related items.
  • Work with other CITGO teams such as Customer Service, Pricing, IT, and Billing to troubleshoot invoicing and other issues that may present.
  • Establish payment arrangements for customers in financial difficulty and or with poor payment history. Assist attorneys in filing on extremely deficient or bankrupt customers.
  • Obtain security agreements such as letters of credit, guaranties, cash deposits when necessary.
  • Perform ad-hoc projects and or reports as requested by Management.
  • Stay up to date with industry, economic, and global trends and developments that may have an impact on credit decisions.

FAQs

What is the primary responsibility of the Credit Manager at CITGO Petroleum Corporation?

The primary responsibility of the Credit Manager is to manage and monitor all the credit aspects of an assigned portfolio of customer accounts while maximizing profits and minimizing risk, in accordance with CITGO's values, policies, and procedures.

What qualifications are required for the Credit Manager position?

The minimum qualifications for the Credit Manager position include a Bachelor's degree, 3 years of job-related experience, high-level financial skills for risk analysis, knowledge of corporate credit management policies, strong communication and interpersonal skills, and basic to moderate knowledge of Microsoft Office. SAP knowledge is preferred.

What kind of decisions can the Credit Manager make regarding credit lines?

The Credit Manager can approve unsecured, partially secured, or fully secured lines of credit up to $3 million and make specific recommendations for credit lines that exceed their delegated level of authority.

How does the Credit Manager support other departments within CITGO?

The Credit Manager collaborates with various teams such as Accounts Receivable, Pricing, Customer Service, Contracts, and Legal to provide guidance on credit-related matters, troubleshoot invoicing issues, and contribute to the preparation of adjustments to customers' accounts.

Are there incentives or benefits offered to employees in this position?

Yes, CITGO offers several benefits including remote work options, a 9/80 work schedule, annual vacation incentives, paid vacation, company-paid holidays, excellent 401(k) match, pension plan, medical, dental, and vision plans, educational assistance, and more.

What tools or systems will the Credit Manager likely use in their role?

The Credit Manager is expected to have a basic to moderate knowledge of Microsoft Office and preferably knowledge of SAP, which is used for managing customer accounts and credit evaluations.

What type of industries and developments should the Credit Manager stay updated on?

The Credit Manager should stay informed about industry trends, economic conditions, and global developments that could impact credit decisions.

What is the work environment like for the Credit Manager at CITGO?

The work environment for the Credit Manager is collaborative, involving continuous communication with internal and external stakeholders and cross-functional teams to manage credit risks effectively.

What kind of contracts does the Credit Manager collaborate on?

The Credit Manager collaborates on key credit aspects related to the execution of commercial contracts and master agreements, including reviewing and drafting collateral documents and contract clauses.

Is the list of job duties exhaustive for the Credit Manager position?

No, the job duties listed are not all-inclusive, and other site-specific responsibilities may be assigned as needed.

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CITGO

CITGO is a refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and industrial products

Energy
Industry
1001-5000
Employees
1983
Founded Year

Mission & Purpose

Headquartered in Houston, Texas, CITGO Petroleum Corporation is a recognized leader in the refining industry with a well-known brand. We own and operate three large-scale, highly complex petroleum refineries with a total rated crude oil refining capacity of approximately 807,000 bpd, located in Lake Charles, Louisiana, Corpus Christi, Texas and Lemont, Illinois. Our refining operations are supported by an extensive distribution network, which provides reliable access to our refined product end-markets. We own 30 active refined product terminals with a total storage capacity of 7.8 million barrels and have equity ownership of an additional 3.5 million barrels of refined product storage capacity through our joint ownership of an additional 8 terminals, spread across 21 states. In addition, we own or have an equity interest in four additional terminals, consisting of approximately 1 million barrels of refined storage capacity, which are currently inactive or only utilized to store feedstocks used in refining operations. We also have access to more than 150 active third-party and related-party terminals through exchange, terminalling and similar arrangements. Our retail network consists of approximately 4,200 independently owned and operated CITGO-branded retail outlets located east of the Rocky Mountains. We and our predecessors have had a recognized brand presence in the U.S. for over 100 years.