National Credit / Collections Manager Salary
National Credit Managers in the United States tend to have a good amount of experience under their belt — more than four-fifths have more than 10 years in the field. While pay runs from $46K to $129K per year, median earnings come to $81K per year. Men working as National Credit Managers who took the survey just slightly outnumber women at 56 percent. Something to celebrate is that most people in this position are highly satisfied with their jobs. Almost all receive medical and dental insurance and a fair number get vision plans. This report is based on responses to the PayScale salary survey.
|Salary||$57,492 - $129,538|
|Bonus||$1,521 - $14,795|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$45,775 - $128,892|
|Bonus||$1,521 - $14,795|
|Total Pay (||$45,775 - $128,892|
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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