What is a Credit & Collections Manager Job?
A credit & collections manager job is a role that involves managing a company's credit and collections operations. This position is responsible for ensuring that the company's customers pay their bills on time and adheres to the company's credit policies. The credit & collections manager is also responsible for analyzing credit data to assess the creditworthiness of new and existing customers.
What do Credit & Collections Managers usually do in this position?
Credit & collections managers typically have a range of responsibilities, including managing a team of credit analysts and collectors, monitoring credit policies, and developing strategies to improve the company's credit and collections processes. They also work closely with sales teams to ensure that new customers are properly vetted and that invoices are paid on time.
Top 5 Skills for Position:
- Strong analytical skills
- Excellent communication skills
- Leadership and management skills
- Attention to detail
- Ability to manage multiple priorities and deadlines
How to become this type of specialist?
To become a credit & collections manager, one typically needs a bachelor's degree in accounting, finance, business administration, or a related field. Additionally, relevant work experience in credit analysis, collections, or finance is often required. Professional certifications, such as those offered by the National Association of Credit Management or the Credit Research Foundation, may also be helpful in advancing one's career in this field.
Average Salary:
According to Glassdoor, the national average salary for a credit & collections manager is around $70,000 per year. This figure can vary depending on factors such as industry, location, and years of experience.
Roles and Types:
Credit & collections managers may work in a variety of industries, including finance, healthcare, retail, and manufacturing. Some common job titles in this field include credit manager, collections manager, accounts receivable manager, and credit analyst. Depending on the size of the organization, credit & collections managers may be responsible for managing a team of analysts and collectors, or they may work independently.
Locations with the Most Popular Jobs in USA:
According to data from Glassdoor, some of the cities with the highest number of credit & collections manager jobs in the United States include New York, Chicago, Los Angeles, Atlanta, and Dallas. However, credit & collections manager positions can be found in a variety of locations across the country, depending on the industry and company.
What are the typical tools used in this role?
Credit & collections managers typically use a variety of tools and software to manage their operations. These may include accounting software such as QuickBooks or Sage, as well as customer relationship management (CRM) software like Salesforce or Microsoft Dynamics. Additionally, credit & collections managers may use data analysis tools such as Excel or Tableau to analyze credit data and identify trends.
In Conclusion:
A career in credit & collections management can be both rewarding and challenging. If you have strong analytical skills, excellent communication skills, and a knack for leadership, this may be the perfect career path for you. With the right education and work experience, you can build a successful career in this field and help your company manage its credit and collections processes effectively.