The primary responsibility of the Collections Manager is sales, telemarketing, collections and customer surveys.
The Collections Manager manages collection and administrative activities for accounts receivable of assigned portfolio by providing the highest level of customer service to ensure prompt resolution of customer accounts.
The Collections Manager typically serves as member of management and is considered a senior level consulting within the organization. As such, the Collections Manager provides functional, technical or process leadership. The organization will depend on this person's management of multiple teams. The Collections Manager generally is responsible for high complexity and ambiguity. As such, the Collections Manager provides tactical responsibilities.
Collections Manager Job Responsibilities
The Collections Manager generally has the following
Executes sound and effective collection strategies inclusive of collection calls to delinquent accounts for resolution of past due balances to meet required business needs and performance measurements.
Maintains cross-functional working relationships with Finance, Operations, Sales, and other business partners to ensure adequate flow of information and resolution of all customer invoicing concerns.
Reviews and analyzes customers' open receivables for control of outstanding receivables within established lines of credit and terms of payment.
Mentors and trains collectors and strengthens working relationships within the billing and collections functions.
Collections Manager Competencies
The complete Collections Manager Manager's Guide
includes the 26
key competencies expected of Collections Manager. The report defines each Competency
in detail. The report also explains what level of proficiency Collections Manager
should have in that Competency, as well as how important that Competency is to performing
the role well.
Among the 26 Competencies for Collections Manager is...
Accounts Receivable (A-R)
You may observe several behaviors in a person that could be strong indicators of his or her capabilities in the Accounts Receivable (A-R) competency. The Collections Manager is expected to demonstrate Extensive experience in the Accounts Receivable (A-R) competency. To demonstrate Extensive experience in the Accounts Receivable (A-R) competency, one should demonstrate knowledge of an organization's billing requirements This person should have the the ability to utilize the proper tools and follow accounts receivable practices and procedures.
Supervises all aspects of maintaining accounts receivable.
Evaluates key issues and considerations for day-to-day A-R operations.
Teaches the practices for interdepartmental, partnership, and special case invoicing.
Examines data flow between the A-R, General Ledger, and other financial systems.
Performs reconciliation and back period adjustment practices and procedures.
Utilizes specific tools for identifying and following up on arrears.