Credit and Collection Manager

BRIEF DESCRIPTION

The Credit and Collections Manager is responsible for managing a team of credit analysts and collections specialists to ensure the accurate assessment of creditworthiness, timely collection of outstanding payments, and the overall financial health of the organization. Provide guidance and support to the team, develop credit policies, monitor credit limits, and implement strategies to optimize cash flow while maintaining positive customer relationships.

DUTIES AND RESPONSIBILITIES

• Supervise and provide guidance to a team of credit analysts and collections specialists.
• Set performance targets, monitor progress, and conduct regular performance evaluations.
• Foster a collaborative and customer-focused team environment.
• Develop and enforce credit policies and procedures to assess the creditworthiness of new and existing customers.
• Analyze financial statements, credit reports, and other relevant information to evaluate credit risk.
• Set credit limits and terms based on risk assessments and business requirements.
• Collaborate with sales and customer service teams to resolve credit-related issues and provide credit recommendations.
• Develop and implement effective collections strategies to ensure the timely collection of outstanding payments.
• Monitor and analyze aging reports to identify delinquent accounts and prioritize collection efforts.
• Communicate with customers to resolve payment issues, negotiate payment plans, and address inquiries or disputes.
• Coordinate with collection agencies and legal teams for escalated collection cases as necessary.
• Build and maintain positive relationships with internal stakeholders, including sales, finance, and customer service teams.
• Liaise with customers to understand their needs, address concerns, and maintain customer satisfaction.
• Collaborate with sales teams to identify opportunities for credit risk mitigation and business growth.
• Prepare regular reports on credit assessments, collections performance, and key metrics.
• Conduct data analysis to identify trends, patterns, and areas for improvement.
• Present findings and recommendations to senior management.
• Identify opportunities to streamline credit and collections processes and enhance efficiency.
• Collaborate with cross-functional teams to implement process changes and monitor their effectiveness.
• Develop and maintain standard operating procedures (SOPs) for credit and collections activities.

SKILLS AND QUALIFICATIONS

• Bachelor's Degree in Finance, Accounting, or a related field (or equivalent experience).
• Certified Public Accountant
• Proven experience in credit analysis and collections, with at least 5 years in a leadership or managerial role.
• Strong knowledge of credit assessment techniques, credit risk management, and collections strategies.
• Familiarity with relevant laws, regulations, and compliance requirements.
• Excellent communication and negotiation skills.
• Ability to lead a team, drive results, and foster a positive work culture.
• Proficiency in data analysis and reporting tools.
• Attention to detail and ability to manage multiple priorities effectively.