Job Description
- Collection Managers oversee a business’ financial collection department. They supervise staff to ensure all money owed to the company is billed and received correctly and in a timely fashion.
- Collection Managers are generally the head of the collection department and answer to a company’s general manager or accounts manager. They must possess strong leadership skills as well as the ability to work in teams.
- A Collection Manager must enjoy providing customer service and be an experienced leader. high attention to detail and excellent organizational skills are also important. Collection Managers should be team players and excellent in communicating both verbally and in writing.
Responsibilities:
The type of organization a Collection Manager works for will determine their particular responsibilities; however, there are several main duties all Collection Managers perform. A review of current job listings identified the following primary tasks and responsibilities.
Supervise Staff
Collection Managers are in charge of supervising a staff of collections personnel. The Collection Manager may be responsible for interviewing and hiring staff members, providing training, creating work schedules, filing timesheets, and performing any disciplinary actions. They also often observe or review employee interactions with customers to ensure all policies and regulations are being adhered to by their staff.
Minimize Losses
Collection Managers are responsible for minimizing a company’s financial losses. They do this in several ways. They may research, develop and implement collection procedures that reduce the amount of delinquency they encounter. Or they may study customer accounts and authorize various tactics such as extensions and write-offs to save the company money. Also by employing effective staff, the Collection Manager helps to ensure more debts are recovered.
Generate Reports and Analysis
A large part of the Collection Manager’s job entails regularly reporting the collection department’s progress and statistics. This may be performed daily, weekly, or monthly, and often requires knowledge of statistics and data analysis. Collection Managers may also need to present their information to management or their department to highlight trends or achievements.
Requirements:
- Bachelor's degree required
- With 5-7 years of leadership/supervisory position in Loss Prevention preferred
- Experience with consumer lending/auto financing a plus
- Well-developed planning, time management, and organizational skills
- Excellent written and verbal communication skills
- Ability to handle multiple tasks during constantly fluctuating volumes
- Demonstrated leadership skills and negotiation skills
- Ability to effectively plan and execute strategies
- Strong training, coaching, and motivational skills
- Solid PC skills including knowledge of MS Office (Word, Excel, Powerpoint)
- Commitment to exemplifying the highest integrity and professional business standards
- Competitive team player that can adapt to a fast paced and changing environment
