The Collection Manager oversees investigation of credit risk in customers and suppliers and advises on course of action for credit applications. Develops and administers credit and collection programs. Being a Collection Manager monitors and negotiates the collection of overdue accounts. Designs and implements processes to improve cash flow and reduce receivables. In addition, Collection Manager monitors credit and collection processes and operations; makes recommendations on opportunities for improvement. Requires a bachelor’s degree. Typically reports to top management. The Collection Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. Working as a Collection Manager typically requires 5 years experience in the related area as an individual contributor. 1 – 3 years supervisory experience may be required. Extensive knowledge of the function and department processes.
Collections Manager Job Description Template
Our company is looking for a Collections Manager to join our team.
Responsibilities:
- Motivates employees to strengthen the quality of the employees individually and collectively;
- Ongoing Recruiting, interviewing and hiring of candidates;
- Additional duties may incur within different departments i.e. Auto-dialer; TCN; Skip trace;
- Coordinate and implements collection policies and procedures;
- Conduct 30-60-90-365 day reviews on all employees;
- Administers collections programs, maintaining knowledge of legal requirements and regulations;
- Conducts weekly audits on each collector making sure they adhere to C&W policy and procedure while keeping in compliance with the FDCPA;
- Coordinates new hire training and the completion of a new employee check list;
- Achieves department goals and objectives daily, weekly and monthly;
- Handles and diffuse escalated calls;
- Engage with and manage the relationship with external collectors;
- Facilitate communication and meetings related to customer complaints concerning billing;
- Set and manage delinquency, roll rates and collection efforts to achieve desired results;
- Prepare and review monthly aging and DSO reports assessing status of receivables;
- Promptly manage the responses to customer inquiries regarding invoices and/or past due balances.
Requirements:
- Be able to complete a minimum of a 40 hour flexible workweek schedule;
- Ability to quickly learn and retain new procedures;
- Experience with various accounting software systems is helpful;
- Self-starter, able to prioritize, multi-task and to work independently and as a team player;
- Be able to read and comprehend position-specific documents and correspondence;
- Be able to travel occasionally when needed by the most efficient means of transportation;
- Be able to operate a computer, phone and/or equivalent devices;
- Be able to bend at the waist and be mobile when needed;
- Thorough knowledge of Microsoft Word and Excel is a requirement;
- Excellent written and verbal communication as well as presentation skills;
- Be able to lift 5 lbs. or greater;
- Attention to detail;
- General accounting knowledge with a strong emphasis on account reconciliations is a plus;
- Be able to communicate in a common language with (or to) individuals or groups verbally and/ or in writing;
- Be able to sit 90% of the work day at times.