Collections Managers often work in finance or accountancy firms and specialise in maximising the income to a firm from its debtors. You'll be responsible for ensuring a particular firm is paid promptly and that bad debt from high-risk customers is kept to a minimum. You'll manage a dedicated team to deliver these outcomes, so you'll need to show strong leadership skills, to motivate and guide your staff.
You'll work closely with clients and with outside recovery agencies to resolve disputes and settle accounts. You will also be responsible for identifying debts that may need to be recovered by the courts and putting the process in train to do so. As well as tact, patience and diplomacy, you'll need plenty of determination in chasing up unpaid accounts, as well as a good understanding of the laws that govern debt and the limits of what firms can do to recover money owed to them.
You'll have a background in invoicing and billing and you'll be familiar with these vital business processes, as well as with the regular keeping, updating and reconciling of company accounts. You'll be familiar too, with a range of accounting software. On a typical day, you may find yourself researching a client's credit history, reviewing and adjusting lines of credit to a particular client, or agreeing a detailed repayment programme.
- You'll consistently and fairly apply your firm's credit and debt recovery policies
- You'll analyse and write reports on clients who are credit risks
- You'll conduct credit checks on clients