Collections Manager Job Description [Updated for 2024]

collections manager job description

In the fast-paced world of finance, the role of Collections Manager is more critical than ever.

As industries evolve, the demand for professionals who can effectively manage, organize, and recover outstanding credits grows stronger.

But what is really expected from a Collections Manager?

Whether you are:

  • A job seeker looking to understand the core of this role,
  • A hiring manager outlining the perfect candidate,
  • Or simply curious about the finer details of collections management,

You’ve come to the right place.

Today, we present a tailor-made Collections Manager job description template, designed for effortless posting on job boards or career sites.

Let’s dive in.

Collections Manager Duties and Responsibilities

Collections Managers are primarily responsible for overseeing the collection efforts of an organization, ensuring that the company recovers its debts in a timely manner.

They also develop and implement strategies to increase the effectiveness of the collections process.

Here are some typical duties and responsibilities of a Collections Manager:

  • Develop and implement strategies to increase the number of successful collections on outstanding debt
  • Recruit, train and manage the collections team
  • Set targets and monitor performance of the collections team
  • Conduct risk assessment and analysis on potential clients
  • Perform regular audits to ensure compliance with state and federal collections laws
  • Maintain a comprehensive understanding of the company’s credit policy
  • Conduct negotiations with debtors to establish repayment plans
  • Oversee and approve the write-off process for uncollectible debts
  • Report on collection activity and accounts receivable status
  • Resolve high-level disputes or complaints regarding collections practices


Collections Manager Job Description Template

Job Brief

We are looking for a competent Collections Manager to oversee and manage the collection of outstanding debts from our customers.

The Collections Manager will be responsible for setting billing collection goals, developing collection strategies, and leading a team of collectors to achieve set objectives.

The ideal candidate will be skilled in negotiating and resolving conflicts, with a keen eye for detail and a commitment to adhering to company policies and legal regulations.



  • Develop goals and strategies to ensure the department runs smoothly and effectively.
  • Direct and oversee all collection procedures to ensure compliance with laws and regulations.
  • Manage a team of collectors and ensure they adhere to company policies and legal guidelines.
  • Monitor and control the accounts receivable portfolio for the application of timely and full collection of receivables.
  • Communicate with customers to address discrepancies and resolve billing issues.
  • Prepare and present reports on collection activities and progress.
  • Establish and implement policies and procedures for collecting debts.
  • Negotiate with clients in non-payment cases.
  • Predict and monitor financial credit risks.
  • Ensure all transactions are processed promptly and correctly.



  • Proven experience as a Collection Manager or similar role
  • Knowledge of billing procedures and collection techniques.
  • Familiarity with all relevant legal requirements
  • Working knowledge of MS Office and databases
  • Excellent communication and interpersonal skills
  • Ability to handle sensitive, confidential information
  • BSc/BA in Business Administration, Accounting or relevant field



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


Additional Information

  • Job Title: Collections Manager
  • Work Environment: Office setting with options for remote work. Some travel may be required for team meetings or client consultations.
  • Reporting Structure: Reports to the Chief Financial Officer or Director of Finance.
  • Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
  • Pay Range: $70,000 minimum to $130,000 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 Manager Do?

A Collections Manager is typically employed by various industries such as financial institutions, commercial organizations, and museums.

Their primary role depends heavily on the industry in which they work.

In a financial or commercial setting, a Collections Manager is responsible for overseeing the recovery of outstanding debts from clients.

They design and implement strategies for effective debt recovery, ensuring all collection activities comply with state and federal laws.

They also typically manage a team of collections agents, provide training, set goals, and monitor performance.

In the museum or arts sector, a Collections Manager is tasked with overseeing the museum’s collections, which can include artwork, historical items, scientific specimens, or other valuable objects.

They are responsible for the acquisition, preservation, and cataloging of items.

They may also oversee the loaning of items for exhibitions and work closely with curators and other museum staff to manage the display and interpretation of the collection.

Regardless of the industry, strong organizational skills, a keen eye for detail, and an understanding of relevant laws and regulations are crucial for this role.


Collections Manager Qualifications and Skills

A proficient Collections Manager should possess the following qualifications and skills:

  • Financial knowledge to understand the various aspects of collections, credit, and overall financial management.
  • Strong negotiation skills to effectively deal with debtors and work out suitable repayment plans.
  • Exceptional communication skills to handle sensitive financial discussions with customers, and also to liaise with internal teams.
  • Analytical skills to assess the financial status of customers and determine appropriate collection methods.
  • Legal knowledge to understand and adhere to debt collection laws and regulations.
  • Highly organized with good attention to detail to track and manage multiple accounts at various stages of the collection process.
  • Problem-solving skills to identify and overcome challenges that may arise during the collections process.
  • Customer service skills to maintain respectful, professional relationships with customers, even in difficult situations.
  • Computer skills to use specialized collection and customer management software.


Collections Manager Experience Requirements

Collections Managers typically start their careers in entry-level collections or customer service positions, where they gain valuable experience in handling overdue accounts and resolving customer payment issues.

Entry-level candidates may have 1 to 2 years of experience, often obtained through part-time roles or internships in collections, accounts receivable, or a related field.

They might also have experience with billing systems, debt recovery techniques, and customer relationship management.

Candidates with more than 3 years of experience usually have honed their skills in negotiation, conflict resolution, and knowledge of collections laws and regulations.

They often have held roles such as Collections Specialist, Collections Analyst, or Accounts Receivable Specialist.

Those with more than 5 years of experience might have experience in a supervisory or leadership role in the collections department.

They may be ready for a Collections Manager position, with responsibilities including developing strategies for debt recovery, managing a collections team, and working closely with upper management to ensure the collections strategies align with the company’s financial goals.


Collections Manager Education and Training Requirements

Collections Managers typically have a bachelor’s degree in finance, business administration, or a related field.

Some companies might require a master’s degree or at least some level of postgraduate study.

In addition to their degree, they should have experience in the field of collections, credit, or financial services.

This experience can be gained through internships or entry-level positions in these areas.

Certifications such as Certified Credit and Collections Manager (CCCM), Certified Professional in Supply Management (CPSM), or Certified Credit Executive (CCE) could be beneficial.

These certifications are offered by professional organizations like the Credit and Collections Management Association and the Institute for Supply Management.

Collections Managers should also have strong analytical and negotiation skills, along with a sound understanding of financial laws and regulations.

Continuing education and staying up-to-date with the latest practices in collections management is also beneficial for career advancement.

Therefore, many professionals in this field attend seminars, workshops, and training programs.


Collections Manager Salary Expectations

A Collections Manager earns an average of $59,471 (USD) per year.

The actual salary can vary depending on the individual’s level of experience, the size and type of the organization, and the geographical location.


Collections Manager Job Description FAQs

What skills does a Collections Manager need?

A Collections Manager needs to have strong communication skills, as they often need to deal with difficult or sensitive conversations with debtors.

They should also have good negotiation skills and the ability to make sound decisions under pressure.

They should also be adept at analysis and reporting, and possess the ability to effectively manage and lead their team.


Do Collections Managers need a degree?

A degree in Business, Finance, or a related field is generally required for a Collections Manager position.

However, some employers may be open to candidates with significant experience in lieu of a degree.

It’s also beneficial for Collections Managers to have a good understanding of debt collection laws and regulations.


What should you look for in a Collections Manager resume?

You should look for a demonstrated history of success in debt recovery and an understanding of relevant laws and regulations.

Experience in managing teams and good negotiation skills are also important.

Additionally, knowledge of collection software and any certifications in the field can add value to a candidate’s profile.


What qualities make a good Collections Manager?

A good Collections Manager is firm but fair, with strong negotiation skills.

They are able to make tough decisions and stay composed in high-pressure situations.

They should also have a good understanding of financial analysis and be able to effectively lead and motivate their team.


Is hiring a Collections Manager difficult?

Hiring a Collections Manager can be challenging, as it requires finding a candidate with the right balance of firmness and empathy, as well as strong leadership skills.

Ensuring the candidate is well-versed in relevant laws and regulations is also crucial.

However, with the right recruitment strategies and clear job specifications, it is possible to find a suitable candidate.



And there we have it.

Today, we’ve delved into the intricate details of what it truly means to be a collections manager.

Surprise, surprise!

It’s not just about chasing payments.

It’s about shaping the financial health of an organization, one payment collection at a time.

With our handy collections manager job description template and real-life examples, you’re primed to make your move.

But why halt your journey here?

Explore further with our job description generator. It’s your stepping stone to impeccably-drafted listings or honing your resume to flawlessness.

Keep in mind:

Every collected payment contributes to the broader financial landscape.

Let’s shape that future. Together.

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