Collections Manager Job Description Template
We are looking for a collections manager to monitor staff and oversee the procedures to reduce the amount of unpaid debt the company incurs. You will also be responsible for negotiating extensions with clients or write-off debt to minimize the company’s potential loss of income.
To be a successful collections manager, you should be analytical and have great report writing skills. Ultimately, a top-notch collections manager should have extensive knowledge of collection laws, and continuously find ways to improve the company’s debt recovery.
Collections Manager Responsibilities:
- Overseeing staff members and ensuring the accurate and timely invoicing of customers.
- Setting payment collection goals and targets for the department.
- Creating and implementing a strategy to improve the collection of outstanding credit.
- Implementing collection policies and procedures to avoid excessive outstanding credit.
- Ensuring that the company policy on recoveries is followed and that it is in line with state and federal regulations.
- Implementing deadlines for invoicing and payment collection.
- Negotiating with customers in cases when nonpayment occurs.
- Preparing monthly feedback reports on payment collections.
- Remaining informed of any legislative procedural training regarding debt collection.
- Training and mentoring of staff members in the collections department.
Collections Manager Requirements:
- Bachelor’s degree in finance, accounting, or a related field.
- 3–5 year’s experience as a collections manager.
- Experience with accounting software such as Quickbooks and General Ledger and advanced knowledge of MS Excel.
- The ability to work accurately and independently.
- Good verbal and written communication skills.
- Excellent analytical skills and an eye for detail.
- Outstanding leadership and managerial skills.
- Strong time and people management skills.
- Ability to work to strict deadlines.