Collection Manager 08F25

The Collection Manager plays a crucial role in managing the collections department and ensuring the profitability of a company's credit in accordance with company policies. This position entails overseeing the activities related to collections, including maintaining accurate records on delinquent accounts and implementing processes to decrease bad debt. A successful Collection Manager should possess strong leadership skills, as well as expertise in analyzing financial data to develop effective collection plans. They will collaborate closely with team members and other departments to ensure timely and accurate collections, while also cultivating a positive relationship with customers to expedite repayment processes. A Collection Manager must balance assertiveness in pursuing overdue accounts with empathy for the clients, ensuring that collection methods adhere to industry standards and relevant legal regulations.

Responsibilities

• Develop and implement strategies to improve collection rates and efficiency.
• Coordinate and manage activities of staff involved in collections operations.
• Analyze delinquent accounts and determine appropriate course of action.
• Prepare and present reports on collection activities and performance metrics.
• Maintain accurate records of customers’ payment status and account activity.
• Work closely with customers to resolve issues preventing timely payments.
• Train and mentor collections team to enhance skills and performance.
• Ensure compliance with legal regulations and company policies in collections.
• Communicate effectively with clients to negotiate payment arrangements.
• Manage the escalation process for accounts requiring further action.
• Coordinate with legal team on accounts requiring litigation efforts.
• Assess and revise collection policies and procedures as necessary.

Requirements

• Bachelor’s degree in finance, business administration, or a related field.
• Proven work experience as a Collection Manager or similar role.
• Strong understanding of billing and collection processes and regulations.
• Exceptional leadership and people management skills required.
• Excellent communication, negotiation, and problem-solving skills.
• Proficiency in using financial software and Microsoft Office Suite.
• Ability to analyze and interpret complex financial data effectively.