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W
Wesco
Manager - Credit and Collections
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Based on Illinois data
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What they do
A Collections Manager manages staff that record and process collections at a bank or financial services company. Ensures that checks presented to a bank clear and the amount is debited to the bank and credited to a customer account. Manages collection accounts for a bank, creditor loan company or collections agency. Tracks the amounts owed by a customer that has fallen behind on bill payments and negotiates re-payment.
$74,827 / year median in Illinois
-11% projected decline
Job Description
As a Manager
- Credit and Collections, you will manage a team of professionals who perform credit and collections functions for large complex accounts within a region, segment or portion of a business unit or national accounts.
- DSO, past due %, bad debt expense, etc.
- established by Financial Services leadership.
Responsibilities:
Select, manage, evaluate and develop staff. Challenge employees; build effective teams; provide staff with coaching, feedback and developmental opportunities. Works directly with financial services team, customers, Sales and branch personnel to understand escalated issues and provide creative solutions, focusing on both financial stewardship and customer satisfaction. Participate in monthly AR aging and dispute reviews for escalated or unique issues. Researches appropriate credit information to rate and approve (within Levels of Authority) credit worthiness of new and existing accounts within assigned portfolio. Makes final determination (within Levels of Authority) on the use of various credit instruments to mitigate risk (UCC filings, Liens, Letters of Credit, payment bonds, personal and corporate guaranties, etc.). Works cross-functionally with customers, Sales and Legal to negotiate contractual risks (e.g.., warranties, indemnification, uncapped liability and liquated damages). Reviews orders on credit hold on a timely basis by assessing credit worthiness of customers (e.g., financial ratings, open invoices, in-process payments and backlog) and makes independent decisions to release orders on credit hold or makes recommendations for higher-risk customers to Senior Manager or Director. Coordinates with attorneys and collection agencies regarding legal actions (e.g., bond and lien claims, bankruptcy proceedings, lawsuit filings, promissory notes, etc.) for troubled customers. Approves actions and bad debt reserves (within Levels of Authority) or recommends for approval to Senior Manager or Director. Represents Wesco at credit group or industry meetings. Develop confidential, credit industry relationships with key competitors within NACM or other national guidelines.Qualifications:
Bachelor's Degree- Accounting, Finance, Supply Chain or Business Licenses/Certificates/Designations
- NACM, CCP or similar preferred 5
- 7 years of accounts receivable, accounting, finance, supply chain or general business experience Minimum of 3 years experience with hiring, coaching, training and developing employees Minimum of 2 years experience with Commercial (B2B) credit and collection experience in a high-volume environment Minimum of 2 years experience working with trade credit and other third parties (e.