The Director of Financial Services will manage dealer credit functions and staff, as well as development, implementation and maintenance of other dealer financial services globally.
- Review customer credit lines on scheduled basis. Analyze financials, pay history, security documents.
- Interact with major customers and those with significant collection issues.
- Interact with sales managers with the goal of maximizing sales.
- Develop and set monthly delinquency goals.
- Oversee the collection and cash application of $550M in customer payments.
- Evaluate dealer business plans and examine viability of opening concept stores.
- Prepare analyses and discuss high risk accounts with management.
- Prepare annual forecast for monthly A/R and revise monthly. Prepare rolling 4-month cash forecast at the beginning of each month. Review forecast weekly and update as needed.
- Prepare annual budgets for department spending, service revenue and related expenses. Review and update monthly.
- Manage Trek Card offering (private label credit card accepted at Trek’s dealers)
- Paymentech - Promote as Trek's recommended credit card processor. Drive dealers to use Paymentech and purchase gift cards to generate revenue for Trek.
- Red Shield - Manage the consumer extended protection plan that was developed by the Financial Services Department.
- Manage Financial Consulting offered to dealers including comparing key financial metrics to Trek dealer averages and best in class dealers. Recommend actions for business improvement.
- Gather and disseminate customer financial statements for benchmarking purposes.
- Participate in Continuous Improvement events
- Prepare financial health checks in advance of all C.I. dealer events for U.S. and Canada.
- Participate with Trek president and sales managers in all (30-40 annually) C.I. events held in Waterloo.
- Counsel dealers on business valuation.
- Serve as a resource to Trek international subsidiaries for promotion of financial services among subsidiaries.
- Globalize the Financial Services function by developing best practice strategy and processes for a rollout to the financial services' operations throughout the world.
- Prepare and present seminars promoting financial services for dealers as well as educating dealers in budgeting, P&L analysis, and cash-flow forecasting.
- Participate in National Bicycle Credit Association group meetings and discussions in U.S. and Canada.
- Coordinate IT projects that improve department efficiency and enhance services offered.
- Provide reports and analyses to management
- Be an agent for change to make sure we are adapting the changing business landscape. Be open to how the Financial Services function should change to address changes in how Trek does business, how bikes are sold, etc. Be open to re-structuring the department to facilitate positive changes to the business.
- Travel to visit dealers as necessary.
- A minimum 10 years experience in Credit and Collections; ideally in a global independent dealer based environment
- Vast understanding of credit reporting agencies (D&B / Equifax)
- Proficient in reading / interpreting financial statements for the purpose of underwriting credit
- Prior experience with UCC filings and personal guarantees
- Excellent written and verbal communications
- Ability to manage relationships both internally with the sales organization/other functions and externally with dealers/vendors/other constituents
- Strong audit background, problem solving and customer service orientation
- Advanced knowledge of credit/lending practices, policies and procedures Working knowledge of lending related regulatory guidelines
- Strong & proven managerial experience with a proven history of developing talent
- Bachelors Degree in accounting, finance or other related field required; MBA preferred
Trek Bicycle Corporation - 20 months ago
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