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)
Main Purpose of the Role:
Responsible for managing a team of Collection Specialists to pursue payment collections to ensure all past due amounts are collected while preventing the aging of current balances. Responsible for oversight of all customer communications of assigned team(including dunning, refunds and statements) and dispute resolution to ensure all customer portfolios are in compliance with established payment and credit terms.
Main Tasks:
Ensure team members are contacting customers in an effective manner and with the required frequency
Ensure customer collection policies are followed
Ensure all customer contact is done in an efficient and professional manner
Utilize company “tools” to escalate action on delinquent accounts. Like Dunning, Credit Suspension and Cargo Hold
Communicate with Branch, Sales and Finance
Management as needed to escalate action on accounts
Dispute Resolution Provide oversight and assistance to facilitate timely resolution and payment
Escalate issues/problems to Dispute Management or other department
Reporting Produce and distribute daily, weekly and monthly reports as required
Reports provided as requested and required by Management
Oversee reporting of team – review as required to ensure quality
Training and Coaching Create and implement training processes for team for onboarding and continuing education on job functions
Create, monitor and continuously improve training manual for use by Collectors
Coordinate and perform one on one shadowing and feedback sessions
Identify and Resolve Customer Service issues
Bring CS problems to the attention of Management that
impact customer satisfaction and their ability to pay
Participate in resolving issues by working with other internal departments and/or other agencies
Review research and validation of credit balances on accounts
Identify, research and reconcile payment discrepancies or unapplied receipts
Encourage customer to utilize credits
Coordinate refunds and efforts to ensure payments come in correctly to proper account with correct name
Assist in vendor setup with filling out forms for Sales
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0 Credit and Collections Manager jobs found in Norfolk, VA area