Career Area:
Finance
Job Description:
Your Work Shapes the World at Caterpillar Inc.
When you join Caterpillar, you're joining a global team who cares not just about the work we do - but also about each other. We are the makers, problem solvers, and future world builders who are creating stronger, more sustainable communities. We don't just talk about progress and innovation here - we make it happen, with our customers, where we work and live. Together, we are building a better world, so we can all enjoy living in it.
Our common values and focus on inclusion and respect drive the decisions made by our company, teams and people. This is why we are committed to hiring and building diverse teams representative of the customers we serve globally. When you join our team, you can apply your unique life and job experiences and work in an environment where your ideas are heard, your contributions are celebrated, and your whole-self matters.
About Cat Financial
Cat Financial is a subsidiary of Caterpillar Inc., the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For more than 40 years, Cat Financial has provided a wide range of financing solutions to customers and CatR dealers for machines, engines, SolarR gas turbines, genuine Cat parts and services. Headquartered in Nashville, Tennessee, Cat Financial serves customers globally with offices and subsidiaries located throughout North and South America, Asia, Australia, Europe and Africa. Visit cat.com to learn more about Cat Financial.
JOB SUMMARY:
JOB RELATED STATISTICS:
Managed accounts:25 - 30 Thousand
Managed Portfolio:$2 - $4 Billion
Credit Approval Authority:$1.0 Million
Document Signing Authority:$1.0 Million
Late Charge waiver:$5,000
Personnel:6-10 Exempt
2-4 Non-exempt
PRINCIPAL DUTIES AND RESPONSIBLITIES:
Provides management, direction and leadership to the total collection effort (collection to legal).
Identifies problem accounts and make recommendation for Loan Workout to minimize CFSC losses.
Works closely with the CFSC Legal Unit to identify and transition problem accounts and to make business decisions on accounts classified as legal or recovery as required.
Evaluates processes and systems, then formulates and implements new processes which support or enhance the collection effort.
Participates in the development of collection systems ensuring they are fully utilized.
Ensures timely resolution of customer service issues on past due accounts.
Develops and nurtures a strong working relationship with dealers, Territory Managers, Support Managers and customers.
Manages potential loss function and ensures compliance with corporate policy.
Monitors repossession activity by working with Remarketing on the sale of equipment and continuously monitoring repo case age to ensure that customer accounts are moving timely in the collection effort process.
Provides bad debt forecasts and documentation for significant loss accounts to senior management.
Prepares reports for NABC & CFSC management, including analysis of the collection unit operations and makes and implements recommendations for future effectiveness of the unit.
Reports departmental measures to senior management on a weekly and monthly basis or as requested.
Participates in the Collection Process Benchmarking. Assures benchmarking is completed and that data ascertained is utilized in making process improvements.
Interfaces with Corporate Support Departments and Region Offices to introduce collection, recovery, and legal account process changes. This may include but not limited to, development of documentation and training materials and providing staff training or alternatively coordinating with Corporate Support Departments in development of the same.
Determines staffing needs, schedules work assignments, interviews and selects employees, administers salary and performance reviews, and determines and implements training requirements.
Manages the collection and phone systems for the collection unit and works with the Information Technology Departments if processing problems occur.
Establishes an annual budget and manages travel and other expenses accordingly.
May be responsible for the invoicing and billing process of accounts.
Participates in accomplishment of continuous improvement objectives for the department. Progress toward accomplishment of these is measured through maintenance of necessary measurements and analysis of associated data. Participates in the identification of problem areas and development of resolutions to address them.
Understands the Equal Opportunity and Harassment policies of the company, applies them in all aspects of management and maintains an environment, which is consistent with these policies.
JOB REQUIREMENTS:
Thorough knowledge of and the advanced ability to apply collection techniques and procedures.
Advanced ability to oversee assigned processes providing guidance to colleagues and updates to management.
Advanced ability to participate in projects via continuous improvement methodology to completion and implementation
Thorough knowledge of and the advanced ability to perform duties and responsibilities without supervision.
Advanced knowledge of and the ability to handle complaint resolution on complex issues with limited assistance.
Advanced ability to apply effective written and verbal communication and presentation skills.
Advanced ability to organize, plan, train and coach other employees.
Advanced ability to plan and facilitate meetings.
Advanced ability to analyze, recommend and approve contracts for default, Loan Workout and late charge waiver.
Thorough knowledge of and the advanced ability to analyze customer credit summaries and past due accounts.
Thorough knowledge of and the advanced ability to apply financing and taxation principles.
Thorough knowledge of credit and customer services concepts and techniques.
Thorough knowledge of CFSC financing and leasing products
Thorough knowledge of financing and leasing documentation principles.
Thorough knowledge of billing, invoicing, and dealer payment principles and concepts.
Thorough knowledge of all UCC filing requirements and their applicability to bankruptcy laws and regulations
Proven ability to ensure that existing technology is functioning property and that proposed changes are clearly documented.
Proven ability to provide project acceptance testing and quality assurance testing such that technological changes are introduced accurately.
Demonstrated ability to enforce high quality standards driven by company objectives and a strong motivation to better CFSC.
Demonstrated ability to create an environment for employees to develop and optimize their performance potential.
Demonstrated ability to provide total management to the collection, repossession, and legal process maintaining past due percentages and late charge collections at acceptable levels.
Demonstrated ability to assist in maintaining an environment conducive to collaboration across all CFSC job functions.
Demonstrated ability to develop and nurture positive relationships with external and internal customers.
Demonstrated ability to assist in maintaining an atmosphere that establishes quality customer service as the primary focus.
Demonstrated ability to provide leadership of the department, during manager's absence, to achieve goals/results.
Ability to sit, focus on computer screen, type on a keyboard and contact customers via telephone system for long periods of time (at least 2 hours).
EDUCATION/EXPERIENCE:
A 4-year college or university degree and a minimum of 6 years exempt experience in credit, collections, cash applications, customer services, sales, marketing, documentation, financial statement analysis and/or accounting is recommended.
Previous exempt work experience must be progressively increasing in responsibility and accountability and demonstrate an ability to gain in knowledge, skills and responsibility such that a level of full competency can be reached.
Equivalent experience may be substituted for education.
Relocation is available for this position.
Visa Sponsorship is not available for this position. This employer is not currently hiring foreign national applicants that require or will require sponsorship tied to a specific employer, such as, H, L, TN, F, J, E, O. As a global company, Caterpillar offers many job opportunities outside of the U.S which can be found through our employment website at www.caterpillar.com/careers.
Posting Dates:
February 22, 2024 - February 29, 2024
Any offer of employment is conditioned upon the successful completion of a drug screen.
EEO/AA Employer. All qualified individuals - Including minorities, females, veterans and individuals with disabilities - are encouraged to apply.
Not ready to apply? Join our Talent Community (http://flows.beamery.com/caterpillarinc/talcom) .
There's more to work at Caterpillar than just the work itself. We hire smart, friendly people and it shows in our culture. We hold ourselves to high standards and make sure our values of integrity, excellence, teamwork, commitment and sustainability come to life in the way we work. We make sure our employees feel continuously challenged while also supported. We provide professional growth opportunities, including leadership programs. We celebrate the diversity of our team, while also working together as one Caterpillar.
Our culture, like everything at our company, is made possible by each employee's contribution. Person by person, we create the environment we work in, and we are proud of the Caterpillar we've built.
