Manager, Credit & Collections Job Description
Manager, Credit & Collections Duties & Responsibilities
To write an effective manager, credit & collections job description, begin by listing detailed duties, responsibilities and expectations. We have included manager, credit & collections job description templates that you can modify and use.
Sample responsibilities for this position include:
Manager, Credit & Collections Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Manager, Credit & Collections
List any licenses or certifications required by the position: CICM, NACM, PMP
Education for Manager, Credit & Collections
Typically a job would require a certain level of education.
Employers hiring for the manager, credit & collections job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Finance, Accounting, Business, Education, Business/Administration, Management, MBA, Economics, Business/Management, Industrial Engineering
Skills for Manager, Credit & Collections
Desired skills for manager, credit & collections include:
Desired experience for manager, credit & collections includes:
Manager, Credit & Collections Examples
Manager, Credit & Collections Job Description
- Assigns responsibility for investigating and verifying financial status and reputation of prospective customers applying for credit, preparing documents to substantiate findings, and recommending rejection or approval of credit applications
- Establish credit limits on customer accounts and monitor accounts based on current financial information, business history and current credit reports
- Interacting with internal staff with respect to contract and credit and collections issues
- Performing credit checks on prospective and existing clients
- Manage company credit exposure to assigned account base to minimize bad debt
- Oversee credit and AR personnel to meet budget goals for DSO and bad debt
- Responsible for overseeing all monthly AR and collection activity
- Credit review and approvals for new accounts
- Drive the collections process across Europe meeting cash collection targets
- Manage the credit assessment process
- Answer overflow calls as required
- Four year degree in a related field highly desired
- Finally, the employee generally works in an indoor office environment
- Must be a motivated self-starter, able to work independently
- Must have the ability to work well under pressure and with changing priorities
- Must have the ability to organize and schedule work effectively in order to meet deadlines
Manager, Credit & Collections Job Description
- Managing Collection Activity – Monitoring aging reports and collection activity to ensure receivables are collected within standard credit terms
- Take a leadership role in the design and analysis of credit and collections information supporting the Credit and Collections Optimization program
- Must be able to exercise independent judgment and discretion in determining credit terms and establishing credit limits
- Credit Line Review – Ability to Make Sound Credit Decisions
- Establish, analyze, and manage the credit limit of high profile accounts
- Business Process Owner for credit risk analysis in NA
- Handles special credit arrangements and deviations from standard terms of payment
- Reviews outside collection agency effectiveness, policies and fees
- Develop Industry Contacts – Developing key contacts in the CPG credit field
- Project Support –Involvement in maintaining and updating Credit Policies and Procedures as needed, all SOP’s
- Knowledge of bond and lien filing notice requirements, including at least one year working experience in this area
- Proficiency in preparing and/or reviewing A/R and A/R Allowance balance sheet reconciliations
- Must have the ability to work well under time constraints and meet deadlines
- Work closely with sales to develop new methods to enhance sales potential
- Evolve department, driving process improvements to meet future business needs
- NACM accreditation is a plus
Manager, Credit & Collections Job Description
- Train and manage the Corporate Wellness Credit & Collection team on proper financial statement analysis and ensure credit files are in compliance with audit and SOX requirements
- Manage program delivery teams, and work collaboratively with cross-functional teams to execute on the credit, collection and fraud initiatives
- Participate as requested in internal user groups to assist with the implementation and maintenance of SAP – Hanna (AR Module) that impacts the daily workings of the Credit & Collections Team
- Execute or supervise collection work
- Document collection activity and maintain follow up on all past due accounts
- Interface with Sales Organization to Communicate Credit Decisions
- Timely New Account Approval – Assessment of Credit Worthiness
- Negotiation Skills-Ability to Resolve Credit Issues with Customers
- Referring accounts to 3rd party collection agencies
- Manage and establish all credit limits of customers quarterly
- 4 year College Degree, preferably finance or business related, or equivalent years of experience
- Minimum of 7 years credit/collections experience
- Fluency in Spanish (Oral/Written)
- Minimum 3-5 years prior AR Accounting and Credit/Collections experience
- Minimum 3 years prior General Ledger experience
- Associate Degree or Higher with Emphasis in Accounting
Manager, Credit & Collections Job Description
- Lead, manage, develop and train team of five credit & collection staff
- Manage all functions for the four Credit & Collection managers for each region
- Monitor and control credit and collection performance at varies levels by preparing and analyzing various performance reports
- Advise Operations personnel on credit and collection matters by reinforcing company policies and procedures
- Formulate, implement, and manage a comprehensive Credit and Collection program by setting goals and standards, and establishing policies and procedures in concert with senior management
- Select and manage an effective process of outsourcing seriously past due accounts referred annually to collection services by analyzing the selection, monitoring the collection performance and assuring a reasonable rate of return
- Ensure collection treatment follows the guidelines of the policy per channel
- Partner with business constituents to establish a scalable process and systems for invoicing and collection
- Collaborate with business constituents to establish and improve the Company’s credit check and collections process
- Manage collection strategies, work flows to meet monthly cash flow targets and DSO targets for Americas Collections
- Experience in lien filing and letters-of-credit negotiation
- Experience overseeing credit and collections team
- Proficiency with Microsoft Office Suite (Word, Excel, PowerPoint, etc ) required
- Strong Excel skills, especially with pivot tables and data manipulation/presentation
- Knowledge of finance modules of Enterprise Resource Planning (ERP) systems such as SAP or PeopleSoft
- Solid understanding of Balance Sheet, Profit & Loss and Cash Flow components/relationships
Manager, Credit & Collections Job Description
- Ensure accurate and timely credit card processing through completion of credit card reconciliations and resolution of reconciling items
- Monitors and manages resolution of customer credit card and collection inquiries
- Oversees the team’s releasing of orders for prepayment accounts and ensure that new sales orders for accounts on open terms remain under established credit/insured limits
- Directly supervises five employees in the Credit & Collections department
- Direct all credit and collections functions for the company
- Supervise credit department activities by planning, establishing, and delegating goals and responsibilities
- Analyze customer financial statements, trade references, industry reports and reviews, to determine appropriate credit exposure for existing and new accounts
- Review Customer Credit Representative submissions of claims through the Trade Management system to ensure accurate clearance of customer deductions
- Regular review and Credit Representative purge file submissions for accuracy in order for them to be processed/applied
- Manage credit reviews, invoicing, collections, and cash application activities with a focus on efficiency and accuracy
- Strong analytical and numeracy skills, especially with various efficiency, leverage, profitability and liquidity data elements
- 5+ years Credit & Collections and Financial Analysis experience
- Minimum of 4 years of experience in an analytical role, preferably in the financial services industry
- 8+ years of progressive credit & collections experience (prefer experience in the health care industry)
- Applied training in MS Excel and Access skills
- Applied knowledge of Oracle, SAP and Experian