Collections Agency Manager Job Description [Updated for 2025]

In today’s financial climate, the role of collections agency managers is more pivotal than ever before.

As debts rise, so does the need for skilled professionals who can effectively manage, recover, and strategize our financial collections process.

But let’s delve deeper: What’s truly expected from a collections agency manager?

Whether you are:

• A job seeker trying to understand the core of this role,
• A hiring manager mapping out the perfect candidate,
• Or simply interested in the inner workings of a collections agency,

You’re in the right place.

Today, we present a customizable collections agency manager job description template, designed for effortless posting on job boards or career sites.

Let’s dive right in.

Collections Agency Manager Duties and Responsibilities

Collections Agency Managers oversee the operations of a collections agency, ensuring the efficient and effective collection of outstanding debts.

Their duties typically involve managing staff, implementing strategies, and maintaining compliance with regulations.

The duties and responsibilities of a Collections Agency Manager include:

• Overseeing daily operations of the collections department
• Developing and implementing strategic plans to maximize collections
• Training and coaching collections staff to ensure efficiency and compliance
• Monitoring and managing agency performance, including setting and tracking KPIs
• Negotiating with debtors to arrange for debt repayments or establish repayment plans
• Ensuring all collections activities are conducted in accordance with legal and ethical standards
• Resolving customer complaints and queries related to debt collection
• Preparing and presenting reports on collections activities and progress
• Maintaining accurate and up-to-date records of all collections activities
• Working closely with legal teams to handle any legal issues related to collections

 

Collections Agency Manager Job Description Template

Job Brief

We are seeking a reliable and experienced Collections Agency Manager to oversee our collections team.

The role involves managing and coaching a team of collections agents, ensuring compliance with laws and regulations, setting and tracking collections goals, implementing strategies to boost recoveries, and maintaining positive relationships with clients and creditors.

Our ideal candidate will have a strong background in collections or finance, excellent leadership abilities, and a solid understanding of relevant laws and regulations.

Ultimately, the Collections Agency Manager is responsible for ensuring our team operates efficiently, achieves its targets, and maintains high standards of customer service.

 

Responsibilities

• Manage and oversee daily collections operations
• Train, coach, and motivate collections agents
• Set and track collections goals and KPIs
• Implement effective recovery strategies and procedures
• Ensure compliance with laws and regulations related to debt collection
• Handle and resolve escalated customer complaints and disputes
• Prepare and present reports on collections activities and progress
• Collaborate with management on staffing, training, and budgeting issues
• Maintain positive relationships with clients and creditors
• Stay informed on new developments in credit and collections industry

 

Qualifications

• Proven experience as a Collections Manager or similar role
• Solid understanding of collections procedures and relevant legal regulations
• Excellent leadership and people management skills
• Strong communication and negotiation skills
• Proficiency in MS Office and collections software
• Ability to handle sensitive and confidential information
• BSc/BA in Business Administration, Accounting or related field

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Collections Agency Manager
• Work Environment: Office setting. Some travel may be required for meetings or consultations.
• Reporting Structure: Reports to the Director of Operations.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $75,000 minimum to $105,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does a Collections Agency Manager Do?

Collections Agency Managers oversee the operations of a collections agency, which works to recover funds that are past due or accounts that are in default.

They typically work for a debt collection agency, although some may work independently or for a specific company’s collections department.

Their duties involve planning, directing, and coordinating the activities of a collections department to ensure they meet the goals of the agency.

They monitor the daily operations of the agency, ensuring the team adheres to all legal regulations and ethical standards when reaching out to clients to collect outstanding payments.

They are responsible for developing policies and procedures for effective debt recovery, setting targets, and reviewing performance against these targets.

A Collections Agency Manager also deals with escalated issues, resolves customer complaints, and ensures that all agency actions are legal, ethical, and fair.

They may also be involved in hiring and training staff, evaluating their performance, and providing feedback or coaching as necessary.

Their job is to ensure efficient and effective debt recovery while maintaining a strong customer focus and preserving the reputation of their agency or the company they work for.

 

Collections Agency Manager Qualifications and Skills

A competent Collections Agency Manager should possess a combination of skills and qualifications that align with your job description, such as:

• Strong leadership skills to guide, motivate, and monitor the team, ensuring efficient performance in collections activities.
• Excellent communication and interpersonal skills to interact effectively with debtors, creditors, and team members, and to handle difficult conversations.
• Financial management skills to understand and analyze financial documents, reports and statements for efficient decision-making.
• Proficient in debt collection laws and regulations to ensure the agency operates within legal parameters.
• Ability to handle conflicts and negotiation skills to reach payment arrangements that are satisfactory to both debtor and creditor.
• Customer service skills to ensure professional and respectful engagement with clients and debtors, while maintaining client relationships.
• Highly organized and detail-oriented to keep track of multiple accounts, payments, and deadlines simultaneously.
• Problem-solving skills to identify issues that may affect collections and develop effective solutions.
• Good understanding and proficiency in the use of collections software and other relevant computer applications.

 

Collections Agency Manager Experience Requirements

Collections Agency Managers typically require a minimum of 5 years of experience in the collections industry.

This experience could be in a variety of roles such as Collections Agent, Collections Specialist, or Collections Supervisor, which provide a solid understanding of collections processes, strategies, and legalities.

In addition to industry experience, at least 3 years of leadership or managerial experience is typically required.

This experience could be directly in a collections environment or another related financial sector.

Candidates with experience in dealing with debt recovery, negotiation, credit management, or financial counseling may have an advantage.

Furthermore, knowledge of relevant software, like debt collection software and customer relationship management (CRM) tools, can be beneficial for this role.

As the role includes managing team performance, experience with training and development, performance evaluation, and conflict resolution is also beneficial.

Lastly, since Collections Agency Managers often interact with clients and other external stakeholders, experience in customer service and communication is often highly valued.

 

Collections Agency Manager Education and Training Requirements

A Collections Agency Manager typically holds a bachelor’s degree in business administration, finance, economics, or a related field.

They should possess deep knowledge of financial principles, credit practices, and legal aspects of collections.

Previous experience in collections or a financial institution is often necessary, and many positions require managerial experience as well.

In addition to a degree, certifications like Certified Credit and Collections Professional (CCCP), Certified Receivables Compliance Professional (CRCP), or Certified Professional Collections Specialist (CPCS) can provide a competitive edge.

Training in negotiation, customer service, and communication skills are also essential as the role involves dealing with customers and leading a team.

To keep up with changing regulations and best practices, ongoing education and professional development are recommended.

Moreover, a good understanding of debt collection software, databases, and collection systems is beneficial.

Lastly, some states may require collections agency managers to hold a specific license or certification, and it’s important to adhere to these state-specific laws and regulations.

 

Collections Agency Manager Salary Expectations

A Collections Agency Manager can expect to earn an average salary of $66,653 (USD) per year.

However, this amount can fluctuate based on factors such as experience, the size of the agency managed, and the geographic location of the agency.

 

Collections Agency Manager Job Description FAQs

What skills does a Collections Agency Manager need?

Collections Agency Managers require a range of skills including excellent communication and negotiation abilities to deal with debtors effectively.

They should have strong analytical skills for assessing clients’ financial situations and creating suitable repayment plans.

Additionally, they should have good leadership skills to lead their team and maintain high productivity levels.

 

Do Collections Agency Managers need a degree?

While a degree is not strictly necessary for the role, many Collections Agency Managers possess a bachelor’s degree in fields such as business administration, finance, or a related field.

However, substantial experience in the collections industry and a proven track record in managing a team can be seen as equivalent qualifications.

 

What should you look for in a Collections Agency Manager resume?

On a resume, look for a strong background in collections or credit control, with specific experience in managing a team.

Also look for knowledge of collections regulations and laws.

Proficiency in related software and technology is also beneficial.

Other desirable attributes include strong negotiation skills, a high degree of professionalism, and excellent organizational skills.

 

What qualities make a good Collections Agency Manager?

A good Collections Agency Manager is firm yet empathetic, being able to enforce collections while understanding the debtor’s situation.

They are also excellent leaders who can motivate their team towards achieving collection targets.

They are highly organized, able to handle multiple accounts and prioritize effectively.

Additionally, they maintain a high level of professionalism and ethical conduct, adhering to all regulations and laws related to debt collection.

 

Is it difficult to hire Collections Agency Managers?

Finding suitable candidates for the role of a Collections Agency Manager can be challenging as it requires a specific set of skills and experience.

The candidate needs to have a strong background in collections, knowledge of relevant laws and regulations, and demonstrated ability to manage a team effectively.

Offering competitive salary packages and opportunities for career advancement can help attract high-quality candidates.

 

Conclusion

And there you have it.

Today, we’ve taken an inside look into the life of a collections agency manager.

Surprised?

It’s not just about debt recovery.

It’s about managing relationships, driving results, and shaping the financial landscape, one collection at a time.

With our comprehensive collections agency manager job description template and tangible examples, you’re ready to make your move.

But why limit yourself?

Dig deeper with our job description generator. It’s your next stop for creating precise job listings or refining your resume to perfection.

Remember:

Every negotiation is a part of the bigger picture.

Let’s shape that future. Together.

How to Become a Collections Agency Manager (Complete Guide)

The Pleasure Work: Enjoyable Jobs That Feel Like a Break

Flexible Futures: Careers That Adapt to Your Lifestyle

The Stress Files: Uncovering the Most Intense Careers of the Year!

Recession-Ready Careers: Staying Steady When the Market Shakes