The Collections Manager is responsible for overseeing the company's collection operations, including creating and implementing strategies to streamline processes, handling customer disputes and service issues, and maintaining precise records. This role also involves leading a team of approximately 8-12 staff members, focusing on mentorship, culture, and fostering growth and retention within the team.
Responsibilities:
Work with customers to negotiate and finalize payment arrangements for overdue accounts.
Define and set specific collection performance objectives for the department.
Ensure invoices are generated accurately and dispatched to customers on schedule.
Develop and implement initiatives to boost the recovery of outstanding payments.
Analyze aging and collection data to spot trends and suggest corrective actions.
Monitor accounts in arrears and take appropriate measures to manage them.
Confirm all avenues have been explored before writing off debts as uncollectible.
Keep up-to-date with relevant laws, industry regulations, and compliance standards.
Create and enforce collection procedures to streamline and enhance the collections process.
Regularly update customers on the status of their accounts and collection activities.
Requirements:
5+ years of collections experience incorporating people management.
Bachelor's degree highly preferred
Proficient in Microsoft Suite and experience with JDE preferred