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Title
Text copied to clipboard!Credit and Collections Manager
Description
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We are looking for a dedicated and experienced Credit and Collections Manager to oversee our organization's credit granting process and manage the collection of outstanding debts. The ideal candidate will be responsible for developing and implementing credit policies, ensuring compliance with company standards, and maintaining positive relationships with customers while effectively managing risk. You will lead a team of credit analysts and collection specialists, providing guidance, training, and support to ensure optimal performance and achievement of departmental goals.
In this role, you will analyze credit data and financial statements to determine the degree of risk involved in extending credit to customers. You will establish credit limits, monitor customer accounts, and ensure timely collection of payments. Additionally, you will be responsible for negotiating payment plans, resolving disputes, and handling escalated collection issues professionally and efficiently.
The Credit and Collections Manager will collaborate closely with sales, finance, and customer service departments to streamline processes, improve cash flow, and minimize bad debt losses. You will regularly review and update credit policies and procedures to reflect changes in market conditions and company objectives. Your role will also involve preparing detailed reports on credit and collection activities, presenting findings to senior management, and recommending strategies for improvement.
To succeed in this position, you must possess strong analytical skills, excellent communication abilities, and a proven track record in credit management and collections. You should be adept at handling sensitive situations diplomatically and possess the ability to make sound decisions under pressure. Familiarity with credit scoring systems, financial analysis tools, and collection software is essential.
We value candidates who demonstrate leadership qualities, attention to detail, and a commitment to maintaining high ethical standards. You should be proactive in identifying potential risks and implementing effective solutions to mitigate them. Your ability to foster positive relationships with customers and internal stakeholders will be crucial in achieving departmental and organizational objectives.
If you are passionate about credit management, possess strong negotiation skills, and thrive in a dynamic environment, we encourage you to apply. Join our team and contribute to the financial health and success of our organization by effectively managing credit risks and optimizing collection processes.
Responsibilities
Text copied to clipboard!- Develop and implement effective credit policies and procedures.
- Analyze customer creditworthiness and establish appropriate credit limits.
- Oversee the collection of outstanding debts and manage delinquent accounts.
- Negotiate payment arrangements and resolve customer disputes professionally.
- Prepare and present detailed reports on credit and collection activities.
- Collaborate with sales and finance teams to improve cash flow and reduce bad debts.
- Lead, train, and mentor a team of credit analysts and collection specialists.
- Ensure compliance with company policies and regulatory requirements.
Requirements
Text copied to clipboard!- Bachelor's degree in Finance, Accounting, Business Administration, or related field.
- Minimum of 5 years experience in credit management and collections.
- Strong analytical and problem-solving skills.
- Excellent communication, negotiation, and interpersonal abilities.
- Proficiency in credit scoring systems and financial analysis tools.
- Experience with collection software and ERP systems.
- Ability to handle sensitive situations diplomatically and professionally.
- Proven leadership and team management experience.
Potential interview questions
Text copied to clipboard!- Can you describe your experience in developing and implementing credit policies?
- How do you handle difficult conversations with customers regarding overdue payments?
- What strategies do you use to minimize bad debt losses?
- Can you provide an example of a successful negotiation you conducted with a delinquent customer?
- How do you stay updated on changes in credit management regulations and best practices?
