National Credit / Collections Manager Salary
National Credit Managers who are practiced in their profession and carry more than 10 years of experience make up just under nine-tenths of National Credit Managers. Pay fluctuates from $52K to $126K per year, but expected earnings average $80K annually. Medical benefits are awarded to nearly all, and most earn dental coverage. Male National Credit Managers are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 56 percent of the field. Most people in this position report feeling highly satisfied with their jobs.
Job Description for National Credit / Collections Manager
A national collections manager works in the financial field at a banking institution or company which conducts collections on behalf of other parties. He/she generally manages a team which encourages borrowers to send payments, and also oversees borrower accounts and determines when they are overdue to issue reminders to customers.Read More...
Some communication will be done electronically, while other communication will be done electronically, in-person, or by mail. The manager may be in charge of collections such as mortgages, auto loans, credit card lines, personal loans, and commercial loans. He/she may be in charge of creating goals for the whole collections team, as the general goal is to collect payments and minimize loss.
Because this is a leadership position, many years of experience in the field will be necessary, and supervisory experience in the field is also helpful. The collections manager will determine when extensions should be approved for customers and when remedial methods must be carried out, such as repossessions or litigation. This manager may also be in charge of employee evaluations and giving disciplinary actions as necessary. Hiring and training employees may also be part of the job.
Generally, this job is carried out in an indoor office environment. Usually, a minimum of a Bachelor’s degree is required, though sometimes experience can be substituted for this requirement.
National Credit / Collections Manager Tasks
- Supervise the processing, updating and servicing of loans and loan portfolios.
- Oversee and ensure compliance with regulatory and accounts receivable policies.
- Review and monitor debts, debt documents and payment terms.
- Review, update, approve and reject loan applications, communicating with clients.
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