Credit / Collections Supervisor Salary (Canada)
A Credit / Collections Supervisor earns an average salary of C$57,925 per year. For the first five to ten years in this position, pay increases somewhat, but any additional experience does not have a big effect on pay.
|Salary||C$40,148 - C$64,858|
|Bonus||C$1,505 - C$6,389|
|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).)
|C$41,135 - C$68,340|
Job Description for Credit / Collections Supervisor
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.Read More...
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. (Copyright 2018 PayScale.com)
Credit / Collections Supervisor Tasks
- Manage the credit, collections, and billing process, and supervise staff.
- Calculate monthly, quarterly, and annual reports for individual and all accounts.
- Establish and monitor customer credit lines, reporting on them to internal and legal teams.
- Identify and review metrics for write-offs, credit limits, repayment plans and service levels.
Credit / Collections Supervisor Job Listings
Pay by Experience Level for Credit / Collections Supervisor
Pay by Experience for a Credit / Collections Supervisor has a positive trend. An entry-level Credit / Collections Supervisor with less than 5 years of experience can expect to earn an average total compensation of C$54,000 based on 11 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Credit / Collections Supervisor with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of C$63,000 based on 17 salaries. An experienced Credit / Collections Supervisor which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of C$60,000 based on 28 salaries. A Credit / Collections Supervisor with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of C$57,000 based on 17 salaries.
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