Credit & Collection Manager

About the Role
The Credit & Collection Manager is responsible for developing and managing personalized collection plans, monitoring aged accounts, and optimizing collection processes to improve cash flow and reduce outstanding receivables. This role will collaborate across departments to ensure credit terms and risk assessments are aligned with business objectives, while maintaining strong client relationships through consistent, professional communication. You will handle escalated accounts, negotiate feasible payment arrangements, and conduct in-person visits for high-risk or strategic clients when needed.

Key Responsibilities:
• Collections Strategy and Planning

• Develop and execute collection strategies and policies by reviewing current policies and assessing financial goals to align strategies to ensure collections are optimized to achieve the company's financial objectives.
• Create and manage collection plans, developing personalized action plans to facilitate timely resolutions for overdue payments and reduce outstanding debts.
• Collaborate with the collection team to establish credit terms and risk assessment criteria to align collection efforts with accurate risk assessments to prevent future overdue accounts.
• Monitor and analyze aged accounts receivable reports to identify delinquent accounts and create a process to track the status of overdue accounts.
• Coordinate collection efforts based on account urgency to maximize cash flow by addressing the highest priority overdue accounts first, reducing outstanding balances.

• Client Communication

• Contact clients to discuss overdue accounts and negotiate payment arrangements.
• Maintain professional and positive relationships with clients to encourage timely payments by providing consistent communication and support.
• Handle escalated inquiries and negotiate payment arrangements, maintaining a customer-centric approach to resolve issues efficiently while fostering positive relationships with clients.
• Visit high-risk or strategic clients in-person, as needed, to resolve disputes or formalize revised payment terms.

• Performance Monitoring

• Track and report on collections performance metrics, producing regular reports and analyzing trends to monitor the success of collections efforts.
• Provide regular updates to the Collection Head regarding account statuses and collection efforts.
• Generate and present collections reports highlighting trends, progress, and areas of concern to stakeholders.
• Measure KPIs using real-time data and track collection targets vs. actuals to provide insights on gaps and necessary strategy shifts.

• Credit Policy Management

• Develop and refine client-specific credit policies, adjusting based on segment behavior, profitability, and risk appetite.
• Approve or decline special requests for extended credit periods after evaluating payment history, financials, and order size.
• Collaborate with sales teams to ensure deals align with credit policies and payment capabilities.

• Collaboration

• Work closely with other departments to resolve disputes and improve collection processes.
• Collaborate with the finance team to ensure accurate reporting and compliance with financial regulations.

• Documentation

• Maintain accurate records of all communications and collection activities for future reference and compliance.
• Prepare reports on collection activities and account statuses for management review.

• Risk Management

• Identify risks and propose strategies to minimize financial losses by addressing risks before they become problematic.

Requirements
Qualifications

• Education: Bachelor's degree in finance, Accounting, Business Administration, or a related field.
• Experience: Minimum of 12 years of experience in collections or accounts receivable, preferably in the IT or technology sector.
• Proven track record of meeting or exceeding collection targets.
• Proficient in accounting software and Microsoft Office Suite, particularly Excel.
• Familiarity with collections management systems and databases.
• Understanding of relevant laws and regulations related to debt collection.
• Excellent negotiation, communication, and interpersonal skills.
• Problem-solving ability and high attention to detail.
• Ability to handle multiple tasks and prioritize effectively.

Equal Employment Opportunity
This organization is an Equal Opportunity Employer and does not discriminate based on race, color, creed, national origin, ancestry, religion, age, citizenship, sex, marital or veteran status, disability or handicap, sexual orientation or any other basis prohibited by applicable law. The company also takes affirmative action to employ, and advance in employment, qualified women, minorities and diversity representations.