Manager - Collection Job Description Template
The Manager - Collection is responsible for leading the debt collection team and enhancing the collection process. This role ensures the timely recovery of outstanding debts, adherence to compliance standards, and development of effective collection strategies. The manager plays a key role in maintaining financial health and managing risk.
Responsibilities
- Develop and implement strategies for efficient debt recovery.
- Lead and manage the collection team to achieve targets.
- Monitor and report on collection metrics and performance.
- Ensure compliance with all relevant regulations and company policies.
- Resolve escalated issues related to debt recovery.
- Maintain strong relationships with clients and stakeholders.
- Train and mentor team members to improve their performance.
Qualifications
- Bachelor’s degree in Finance, Accounting, or related field.
- Minimum of 5 years of experience in debt collection or related areas.
- Proven track record of managing a successful collection team.
- Strong knowledge of collection laws and regulations.
- Excellent leadership and communication skills.
- High level of integrity and ability to work under pressure.
Skills
- Debt recovery strategies
- Team leadership
- Regulatory compliance
- Performance metrics
- Conflict resolution
- Client relationship management
- Training and mentoring
- Analytical thinking
- Financial analysis
Frequently Asked Questions
A Manager - Collection oversees the collection process in a company, ensuring timely payments and reducing bad debts. Responsibilities include developing collection strategies, training staff, and maintaining relationships with key accounts. They play a critical role in managing the financial health by optimizing revenue collection, supervising the collections team, and reviewing account reconciliations regularly.
To become a Manager - Collection, one typically requires a bachelor’s degree in finance, business administration, or a related field. Experience in debt recovery or credit management is crucial. Skills in leadership, negotiation, and communication are essential. Professional certifications, such as the Credit and Collection Compliance Officer (CCCO), can enhance a candidate's qualifications and career prospects in this field.
The average salary for a Manager - Collection varies based on location, experience, and industry. Generally, these professionals earn a competitive salary reflecting their expertise in managing collection processes and team performance. Additional compensation might include bonuses related to performance metrics and milestones. A comprehensive benefits package often complements the salary.
For a Manager - Collection role, a bachelor's degree in finance or a similar field is typically necessary. Candidates should possess strong analytical skills and have a background in credit management or accounts receivable. Many employers value relevant certifications and a proven track record of effective collection strategy implementation and team leadership as essential qualifications.
A Manager - Collection needs skills in leadership, negotiation, and communication. Responsibilities include monitoring collection activities, devising collection strategies, and ensuring compliance with laws and regulations. They manage a team, utilize data analysis to optimize collection efficiency, negotiate payment plans, and work with other departments to improve the overall collection process and financial outcomes.