Average Collections Manager Salary

Job Description for Collections Manager

A collections manager's primary responsibility is to be accountable for the recovery of the organization’s assets by collecting on delinquent accounts. The collections manager also works closely with their supervisor and office staff in the collection department. Communication skills are essential, since quite often the role involves coordinating tasks between management and workers. While the primary duty of a collection manager is taking care of delinquent accounts, many secondary tasks are required to achieve this primary directive. Directing the collections staff is essential, as is recruiting, training, and disciplining credit and collection staff effectively.

A high degree of integrity and confidentiality must be maintained as a collection manager. Keeping credit and contract information confidential is important, as are accuracy and attention to detail. Holding this position requires firm decision making and a high level of problem solving ability. A person must have good organizational skills to track many projects and accounts at once. Collections managers typically work during regular business hours, but occasionally working late or on weekends is expected. Some travel or business lunches may be required as well.

A collection manager is usually required to have at least five years' experience in accounting, with experience in credit and debt collection preferred. Previous management experience is preferred, and a bachelor's degree in accounting, finance or another business-related field is generally required. A strong legal knowledge of lien waivers and other state and federal credit laws is a must. Having current knowledge of financial software and spreadsheet applications is expected for individuals in this position as well. (Copyright 2019 PayScale.com)

• Hire, manage, and motivate members of the collection team.
• Manages small claims court documentation and makes decisions on accounts to be written off.
• Oversee all general credit and collections processes.

Collections Manager Job Listings