Consumer Loan Collection Manager manages a group of collection supervisors and develops collection strategies to minimize collection portfolio loss. Responsible for initial and ongoing training of all subordinate personnel. Being a Consumer Loan Collection Manager requires a bachelor's degree. Typically reports to a top management. The Consumer Loan Collection Manager typically manages through subordinate managers and professionals in larger groups of moderate complexity. Provides input to strategic decisions that affect the functional area of responsibility. May give input into developing the budget. To be a Consumer Loan Collection Manager typically requires 3+ years of managerial experience. Capable of resolving escalated issues arising from operations and requiring coordination with other departments. (Copyright 2024 Salary.com)
Direct contact with customers for the collection of Domestic,
Canadian and International accounts (approx. $10 - $20 million/analyst).
Utilize the accounts receivable (GetPAID) application within an assigned portfolio of customers to perform collection functions on past due transactions and make proactive contact on large dollar coming due invoices to improve and maximize ITT cash flow (DSO).
Develop and maintain relationships with internal and external parties to ensure timely collection and resolution of outstanding issues.
Work closely with ITT business units to monitor and control shipments to accounts in delinquent status to minimize potential bad debts.
Analyze potential bad debts with internal parties (Credit Supervisor, Unit Controllers, and Sales), provide detailed recommendations, and establish action plans for resolution
Investigate items in dispute (i.e. short payments, overpayments, deductions, etc.) and liaise with appropriate business unit contacts to resolve issues in a timely fashion.
Participate in regular meetings with Business Unit Controllers to identify and resolve significant outstanding issues.
Assist in the AR reporting process, including producing, maintaining and distributing various reports to Business Units as required.
Review various A/R spreadsheets to analyze and summarize significant changes in the payment habits of customers.
Provide excellent customer service by assisting in the reconciliation of accounts.
Other duties as assigned
Education: A.A.S. in Business with minimum two years credit/collection experience, OR
Experience: Five years credit/collection experience, two credited business courses, must include Accounting I.
Skills/Knowledges:
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