A credit and collections supervisor is responsible for managing all aspects of a company's activities involving credit given to clients and customers, with a strong focus on collecting payments on delinquent accounts. The supervisor's main task is to oversee the credit and collection department by providing motivation, strategy, and direction to staff to meet the company's collection needs.
The role of a credit and collection supervisor is very broad and requires someone who is not only flexible but someone who can make important financial decision pertaining to business credit lines and effective actions to collect on past-due accounts. The supervisor has the final say in how much credit to offer and extend to customers. Credit supervisors routinely review open credit accounts, analyze the data, then decide what course of action to take if any on each account. They are also responsible for reviewing a companies credit policies to evaluate and improve on the practices in place. They are responsible for the terms and conditions of sales involving credit to customers, which include analyzing the creditworthiness of customers to keep risk of financial loss to the company at a minimum. A credit supervisor might later have to renegotiate the terms with a customer and determine whether legal action must be taken to collect on an outstanding debt.
Most work is done in the office during regular business hours, although occasional business trips and seminars are required. Some teleworking from home is possible as well. The supervisor is also responsible for reporting to the executive and management teams.
Typically a credit and collections supervisor needs at least five years' experience in accounting, with experience in credit and debt collection preferred. Previous supervisor experience of two years or more is usually a requirement as well. A credit and collection supervisor needs a bachelor's degree in accounting, finance, or another business-related field. Knowledge in current financial software and spreadsheet applications is also strongly preferred. A credit and collection supervisor must work well under financial pressure and have good communication and leadership skills.
Credit / Collections Supervisor Tasks
- Calculate monthly, quarterly, and annual reports for individual and all accounts
- Identify and review metrics for write-offs, credit limits, repayment plans and service levels.
- Manage the credit, collections, and billing process, and supervise staff.
- Establish and monitor customer credit lines, reporting on them to internal and legal teams.