Collection Manager

Job Title: Collection Manager

Job Purpose

The Collection Manager is responsible for managing the company's accounts receivable and collection activities to ensure timely collection of outstanding payments, minimize bad debts, and maintain healthy cash flow. The role supervises the collections team, develops collection strategies, and maintains positive relationships with customers.

Key Responsibilities

• Develop and implement collection policies, procedures, and strategies.
• Monitor customer accounts to identify overdue balances and follow up on outstanding invoices.
• Manage and supervise the collections team, including setting targets and monitoring performance.
• Review aging reports and prioritize collection efforts.
• Contact customers by phone, email, or meetings to discuss overdue payments and arrange payment plans.
• Resolve customer disputes related to invoices, payments, and account balances in coordination with the sales and finance departments.
• Negotiate payment schedules and settlement agreements when necessary.
• Prepare regular collection and aging reports for management.
• Ensure compliance with company policies and legal requirements related to debt collection.
• Coordinate with legal advisors regarding delinquent accounts requiring legal action.
• Maintain accurate records of all collection activities and customer communications.
• Analyze collection trends and recommend improvements to reduce overdue receivables and bad debt exposure.
• Support month-end and year-end closing activities related to accounts receivable.

Qualifications

• Bachelor's degree in Finance, Accounting, Business Administration, or a related field.
• Minimum 5–8 years of experience in collections, credit control, or accounts receivable.
• At least 2–3 years of experience in a supervisory or managerial role.
• Strong knowledge of collection procedures, accounts receivable, and financial regulations.
• Experience with ERP or accounting systems.

Skills & Competencies

• Strong leadership and team management skills.
• Excellent communication and negotiation skills.
• Ability to handle difficult customer situations professionally.
• Strong analytical and problem-solving abilities.
• Good knowledge of Microsoft Excel and reporting tools.
• High attention to detail and accuracy.
• Ability to work under pressure and meet deadlines.
• Strong organizational and time management skills.

Key Performance Indicators (KPIs)

• Collection rate and recovery percentage.
• Reduction in overdue accounts and aging balances.
• Days Sales Outstanding (DSO).
• Percentage of bad debts written off.
• Team productivity and target achievement.
• Accuracy and timeliness of collection reports.