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Title
Text copied to clipboard!Collections Manager
Description
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We are looking for a highly organized and results-driven Collections Manager to oversee the credit and collections operations of our organization. The ideal candidate will be responsible for managing a team of collections specialists, developing strategies to improve collection rates, and ensuring compliance with all relevant laws and regulations. This role requires strong leadership skills, excellent communication abilities, and a deep understanding of financial processes related to accounts receivable and debt recovery.
As a Collections Manager, you will play a critical role in maintaining the financial health of the company by minimizing bad debt and ensuring timely payments from clients. You will work closely with the finance and sales departments to assess credit risk, set credit limits, and resolve billing disputes. Your ability to analyze data, implement effective collection strategies, and lead a team will be key to your success in this position.
Key responsibilities include monitoring aging reports, setting collection targets, negotiating payment plans with clients, and preparing regular reports for senior management. You will also be expected to stay up-to-date with industry best practices and legal requirements related to debt collection.
This position is ideal for someone with a background in finance or accounting, experience in collections or credit management, and a passion for improving financial performance through effective receivables management. If you are a proactive problem-solver with a track record of success in collections, we encourage you to apply.
Responsibilities
Text copied to clipboard!- Manage and lead the collections team to achieve performance targets
- Develop and implement effective collection strategies
- Monitor accounts receivable and aging reports
- Negotiate payment plans and settlements with clients
- Ensure compliance with debt collection laws and regulations
- Collaborate with sales and finance teams to resolve billing issues
- Prepare and present regular reports on collection performance
- Assess credit risk and recommend credit limits
- Train and mentor collections staff
- Handle escalated collection issues and disputes
Requirements
Text copied to clipboard!- Bachelor’s degree in Finance, Accounting, or related field
- 5+ years of experience in collections or credit management
- Strong leadership and team management skills
- Excellent communication and negotiation abilities
- Proficiency in financial software and Microsoft Office
- Knowledge of relevant laws and regulations
- Analytical and problem-solving skills
- Ability to work under pressure and meet deadlines
- Attention to detail and high level of accuracy
- Experience with ERP systems is a plus
Potential interview questions
Text copied to clipboard!- How many years of experience do you have in collections management?
- Can you describe a successful collection strategy you implemented?
- How do you handle difficult or non-compliant clients?
- What financial software are you proficient in?
- How do you ensure compliance with debt collection laws?
- Describe your experience with managing a team.
- How do you prioritize accounts for collection?
- What metrics do you use to measure collection performance?
- Have you worked with ERP systems before?
- How do you collaborate with other departments to resolve billing issues?
