Credit and collection manager job profile and description

The job of a credit and collection manager is to ensure that the company receives all the money that others owe to it. He has to keep track of all the clients who take goods and services on credit or on an installment basis and ensure that the company receives the dues in time. He communicates with clients and keeps records of their association with the company.

Credit and collection manager duties and responsibilities

The duties and responsibilities of a credit and collection manager are:

  • Keeping records of the debtors of the company and all the financial transactions that take place between them and the company
  • Ensure that the payment arrives on time
  • In case of failure to pay, communicate with the clients by means of letters, emails or fax to make sure that clients receive the communication
  • Making the transaction appealing for both the parties involved by following up with notes thanking the clients about the payment
  • Maintaining healthy communication with clients
  • May have to train staff and new entrants for the job
  • Ensure that all the credit records of the company are updated so that no client receives unnecessary dues
  • Planning and executing collection methods

Credit and collection manager skills and specifications

The skills and specifications of a credit and collections manager are:

  • Communication and negotiation skills are the most important part of the job
  • A good knowledge about accounting and bookkeeping
  • Excellent writing skills
  • Ability to handle difficult situations with a cool mind and efficient manner
  • Excellent planning and organization skills
  • Good analysis and observation skills
  • Good leadership skills

Credit and collection manager education and qualification

A credit and collections manager needs to have a degree in commerce, finance, administration or accounting. Experience as accountant is required in most of the companies.

Credit and collection managers salary

The salary of a credit and collection manager ranges between $40,000 and $70,000 per annum.