Michael Wolcott

About Michael Wolcott

Experienced Credit & Collections Manager with a demonstrated history of working in the…

Experience

1. Sr Credit Analyst

   General Mills

   Feb 2024 — Present · Minneapolis, MN, US

   Investigate and evaluate all new credit applications to recommend and establish adequate credit limits and appropriate credit risk class for potential customers.• Ensure all high-risk customers are identified and communicated on a timely basis to Credit Manager, Customer Service and Sales Management personnel, as necessary. Effectively work with internal business partners to manage our ongoing Sales relationship & help mitigate our exposure, while maintaining customer goodwill.• Responsible for performing annual credit reviews, making recommendations/adjustments to credit limits, and assigning risk classes based on customer financial statement analysis, industry experience and payment trends. • Responsible for on-going daily close monitoring of accounts and control of credit exposure on an ongoing basis. • Timely communications with the appropriate Collector (assigned by region) to ensure prompt follow-up and collection of invoices. Frequently works directly and aggressively with customers to assist with problem solving, facilitate negotiations and resolution of tough, sizeable invoice collection issues.• Ensure compliance with all regulatory requirements including internal Sarbanes Oxley controls, policies & procedures for your designated A/R portfolio, so that it passes all Internal and External Audit requirements with no unsatisfactory comments or ratings.• Ensure aggressive bankruptcy or insolvency procedures are properly followed to minimize bad debt exposure. Works closely with all General Mills Sales and Customer Service Teams in maintaining on-going business relationship with customer, when applicable.• Recommend and assist in the implementation of improvements/changes in procedures and workflow.• Serve as back-up to Credit Manager and other Credit Analysts, as needed.• Travel to credit group meetings and/or customer visits, as necessary. • Perform other responsibilities/special projects as assigned.

Education

• University of Northwestern – St. Paul

  Bachelor of Science (B.S.), Business Administration and Management, General

  1998 — 2001

Skills

• Credit
• Accounts Receivable
• Credit Risk
• Financial Analysis
• Banking
• Credit Analysis
• Portfolio Management
• Forecasting
• Risk Management
• Analysis
• Financial Risk
• Accounting
• Financial Reporting
• Budgets
• Process Improvement
• Budgeting
• Underwriting
• Insurance