Find Jobs
Find Jobs Near You – Available Work in Your Location
Director of Collections
Career Insights for Collections Manager
See where this job fits in the broader career landscape. Knowing your career path helps you see what's possible from here.
Scorecard
Based on Virginia data
Review key factors to help you decide if this role fits your goals. How is this calculated?
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.
$73,936 / year median in Virginia
-9% projected decline
Job Description
Key responsibilities include:
Lead the regional collection strategy and oversee collection performance across the U.S. and Canada. Provide leadership and oversight of local and offshore shared-service collection activities. Partner closely with Sales, Credit, Finance, Customer Service, Operations, and other stakeholders to remove collection barriers and resolve significant customer issues. Build and develop a high-performing collections organization through strong leadership, coaching, accountability, and consistent execution. Identify root causes of recurring delinquency, disputes, and collection barriers and implement sustainable, cross-functional solutions. Lead and participate in strategic projects and continuous improvement initiatives impacting Collections and the broader Quote-to-Cash process. Functions & Duties Execute the Company's Collection Strategy and ensure consistent application of collection policies, timelines, and procedures. Monitor portfolio performance and identify significant credit and collection risks, trends, and opportunities for improvement. Establish and monitor action plans for underperforming accounts and portfolios. Provide coaching, mentoring, and subject-matter expertise to offshore collectors to strengthen collection skills, customer communication, negotiation, and account-management capabilities. Partner with cross-functional stakeholders to drive timely resolution of disputes, settlements, billing issues, and other matters impacting accounts receivable. Prepare and present management-level reporting highlighting results, key drivers, significant exposures, trends, and recommended actions. Lead or support special projects and other duties as assigned. Knowledge, Skills & Abilities Extensive knowledge of commercial collections, accounts receivable management, and strategies for reducing delinquency and DSO. Knowledge of the ocean container shipping, transportation, logistics, or related industries preferred. Strong understanding of AR metrics, including Days Sales Outstanding (DSO) and collection effectiveness, and their impact on working capital and liquidity. Familiarity with credit agency risk ratings and their implications. Demonstrated ability to develop and execute collection strategies across large and complex commercial portfolios. Strong leadership, coaching, mentoring, and talent-development capabilities. Experience working with and influencing offshore Shared Service Centers, remote teams, and third-party service providers. Strong customer negotiation and relationship-management skills. Ability to assess collection risk and make sound decisions regarding collection priorities and recovery strategies. Ability to communicate significant collection risks, trends, and recommended actions to senior leadership. Strong analytical skills with the ability to translate collection data into actionable business priorities. Ability to influence outcomes within a highly cross-functional and matrixed organization. Excellent executive-level written, verbal, and presentation skills. Demonstrated ability to identify root causes, simplify complex processes, and drive continuous improvement. Ability to effectively balance competing priorities in a fast-paced business environment. Advanced proficiency in Microsoft Excel and experience with collection, ERP, reporting, and analytics systems.Qualifications Education Required:
Bachelor's Degree Preferred areas of study include Accounting, Business Administration, Economics, or a related discipline. An equivalent combination of education and relevant professional experience may be considered. Experience 5-10 years of relevant industry experience required. 8-10 years preferred in commercial collections, accounts receivable, finance, or a related discipline. Compensation & Benefits At CMA CGM, we are committed to fair and equitable compensation practices. The expected salary range for this position is $95,000-$122,000 annually. Actual compensation will be determined based on a variety of factors, including the candidate's qualifications, skills, experience, and location. In addition to base salary, this position may be eligible for: Performance-based bonuses Comprehensive benefits, including health insurance, retirement plans, tuition reimbursement, and paid time off Professional development opportunities We believe in transparency and equity and are proud to be an Equal Opportunity Employer. We encourage individuals from all backgrounds to apply.Pay:
From $95,000.00 per hourBenefits:
401(k) matching Dental insurance Disability insurance Health insurance Health savings account Opportunities for advancement Paid time off Parental leave Relocation assistance Vision insuranceWork Location:
Hybrid remote in Norfolk, VA 23502Benefits
- Paid Time Off (PTO)
- Financial Aid/Assistance
- Professional Development
- 401(k) Plans