Fay Damico
General Manager of Credit and Organizational Change Management @Mitsubishi International Food Ingredients, Inc
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WORK HISTORY
General Manager of Credit and Organizational Change Management @Mitsubishi International Food Ingredients, Inc
NJ, US
I started my journey with the company as a Senior Collections Manager, entrusted with overseeing a substantial $17 million receivables portfolio. My role extended to leading a team of four diligent credit analysts, tasked with managing a diverse array of foreign and domestic accounts, each with its unique credit limits. As my tenure progressed, I transitioned into the role of Senior Credit and Risk Manager, where I assumed greater responsibilities. In this capacity, I led a team of five skilled professionals, guiding them in navigating a portfolio consisting of 1,500 active accounts. Through these experiences, I honed my expertise in credit management and risk assessment, contributing to the success of the company\'s financial operations.Among my notable achievements, I- Achieved a 0 bad debt rate and an 88% CEI rating by implementing stringent credit reviews, effective collection efforts, and consistent adherence to process standards- Improved DSL turnover rate over three years, maintaining industry average with current ratio at 44 compared to previous year\'s 48- Led implementation of automated cash application system, transitioning from cheques to ACH transfers, increasing ACH funds from 30% to 90%- Developed SAP workflow to minimize cash entry signatures, reducing cheque transactions and implementing lockbox banking for targeted customers- Enhanced SAP as a collection tool, incorporating new features and upgrades, and utilizing UDM to improve productivity for internal job functions- Streamlined credit collection function post-acquisition, improving organizational processes, implementing accessible credit line reporting, and aligning methods with Mitsubishi\'s standards.My key responsibilities include:Strategic Direction | People Leadership | Stakeholder Engagement | Negotiation Strategy | Risk Management | Cross-Functional Collaboration
EDUCATION
Berkeley College
Associate's degree, Computer Science
Belleville High School
High School Diploma
SKILLS
ABOUT FAY DAMICO
With over 30 years of hands-on experience in credit and collections operations, I bring a strategic and analytical approach to managing extensive portfolios and minimizing credit risk. Throughout my career, I\'ve demonstrated a knack for steering the collection cycle, defining effective strategies, and ensuring their seamless execution for optimal results. My expertise lies in driving operational efficiency through process and system enhancements, setting high standards, and reinforcing rigorous internal protocols to uphold robust credit control. I thrive in fostering growth-oriented cultures, leading diverse teams, nurturing strong relationships, influencing decisions, and motivating action to propel organizational success.Connect with me to learn more about my expertise in the following areas- Credit & Collections- Strategic Planning & Execution- Risk Management- Credit Management & Control- Process Optimization- Client & Stakeholder Engagement- People Leadership- Negotiation & Communication- Cross-Functional CollaborationTechnical Acumen: SAP | MAPICS | Microsoft Office Suite (Excel, Access, PowerPoint)| ESTA | Get Paid Software | Dun & Bradsheet | RAM | Carms & Walker | Pro 21
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