Credit and Collections Manager develops and administers credit and collection programs. Oversees investigation of credit risk in customers and suppliers and advises on course of action for credit applications. Being a Credit and Collections Manager designs and implements processes to improve cash flow and reduce receivables. Monitors and negotiates the collection of overdue accounts. Additionally, Credit and Collections Manager monitors credit and collection processes and operations; makes recommendations on opportunities for improvement. Requires a bachelor's degree. Typically reports to a director. The Credit and Collections 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. To be a Credit and Collections 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. (Copyright 2024 Salary.com)
POSITION SUMMARY:
Responsible for assessing the creditworthiness of customers; applying payments in a timely and accurate manner; and quickly resolving past due payments while exhibiting professional and effective communication skills to ensure an optimal outcome.
PRIMARY RESPONSIBILITIES:
· Provide excellent customer service while handling sensitive financial matters.
· Prepare and send out claims and statements, as needed, to customers.
· Monitor customer accounts for overdue payments and follow up as necessary.
· Maintain accurate records of customer interactions and transactions.
· Process and post customer payments to appropriate accounts.
· Assist with month-end closing activities, including spreadsheets and account reconciliations.
· Collaborate with other departments to resolve billing discrepancies and address customer inquiries.
· Work with different software systems to process claims, credits, and collections.
· Calculate month-end allowance for bad debt/ doubtful accounts.
· Manage A/R from our customers including collection of past due invoices and deduction management.
· Interact with customers through direct collection call contact and emails for resolution of past due A/R.
· Resolve invoicing issues that arise including pricing discrepancies, carrier claims, rebates, etc.
· Resolve disputed balances or other issues that prevent timely payment.
· Respond to customer inquiries regarding past due accounts; research and provide account information.
· Implement process improvements to eliminate ongoing customer or internal issues that interfere with prompt payment by customers.
· Place orders or credit hold when warranted.
· Review orders on credit hold and release orders when appropriate.
· Assess creditworthiness of new customers; provide recommendation of payment terms, including credit limit.
· Assess creditworthiness of existing customers on a regular basis, providing recommendations of changes when appropriate.
· Perform other duties as assigned.
REQUIRED SKILLS AND EXPERIENCE
· High School Diploma or G.E.D. equivalent
· Experience in Accounts Receivable
Job Type: Full-time
Pay: $22.00 - $25.00 per hour
Benefits:
Weekly day range:
Work setting:
Work Location: In person
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