A credit/collections manager is responsible for the direction and coordination of credit and collections procedures, policies, and operations. They manage the daily accounts receivables to ensure customer compliance, as well as follow up with issues or complaints from customers.The credit/collections manager must provide support to general managers and accounts managers. They direct and supervise credit evaluations, cash applications, collections, and placement of accounts. It is the credit/collections manager's job to initiate investigations into credit ratings and ensure all credit checks are completed in a timely fashion. They also establish metrics and ensure they are being followed by the team. They develop reports and host daily or weekly meetings to set goals for the team and the company. They must assess performance of their team and either provide or facilitate training for staff.Credit/collections managers are required to have a high school diploma or equivalent. Many companies also require a bachelor’s degree in accounting, finance, or business administration. Credit/collections managers also need to have great problem-solving, communications, and analytical skills. These managers may work a variety of hours depending on the needs of their company. Some companies may require travel for meetings and training as well.

The role of a Credit / Collections Manager is expected to experience steady growth in the Canadian market. According to a 10-year analysis, there is an upward trend in the demand for professionals in this role. The increasing complexity of credit operations and the need for efficient collections processes contribute to this growth. With the expanding economy and evolving financial landscape, the employment opportunities for Credit / Collections Managers are projected to remain favorable in the future.

How to Learn

As a Credit/Collections Manager with 6-9 years of experience in Canada, your main responsibilities include:<ul><li> Overseeing the credit and collections process, ensuring timely and accurate collection of outstanding debts from customers. Monitor accounts receivable and implement effective credit control measures.</li><li> Managing a team of credit analysts and collections agents, providing guidance and support to ensure efficient operations. Train and develop team members, set performance targets, and conduct performance evaluations.</li><li> Developing and implementing credit policies and procedures to minimize credit risk and maximize cash flow. Analyze creditworthiness of customers, establish credit limits, and negotiate payment terms.</li><li> Collaborating with sales and customer service teams to resolve credit issues and disputes, maintaining positive customer relationships.</li></ul>

Roles & Responsibilities

Average take home Salary for a Credit / Collections Manager in Canada is around C$66817 per year

Salary Breakup

The Credit/Collections Manager oversees the credit and collection processes of the company, and ensures prompt and accurate payment of any outstanding debts. They devise and implement efficient collections and credit strategies, track the accounts of customers, as well as negotiate payments. The manager is also responsible for reviewing credit applications, conducts credit risk assessments, and works with internal teams to address dispute or payment issues. This job requires an analytical and strong skill set, as well as exceptional communication skills, as well as an established experience in managing credit and collections.

Breakup	Range
Base Salary	null - null
Bonus	null - null
Total Pay	null - null

Credit / Collections Manager

Salary Breakup

Skills That Affect Credit / Collections Manager Salaries

Explore

More

Get in Touch with Us