Overview
This role involves managing a team of Credit Collectors and overseeing an accounts receivable portfolio valued between $25 million and $50 million across North America. The Collections Manager will be responsible for driving collection results to meet business targets, ensuring compliance with credit policies, and collaborating with various business partners to achieve cash flow objectives. The position requires strong leadership, excellent communication skills, and the ability to work in a fast-paced environment.
This is a remote position based in the United States, with occasional on-site visits as needed. Candidates must be legally authorized to work in the U.S. without visa sponsorship.
Responsibilities
Performance Management
- Lead and motivate a collections team to improve portfolio performance, including Days Sales Outstanding (DSO), percentage of current accounts, and reduction of balances over 60 days.
- Achieve monthly cash collection forecasts and annual accounts receivable performance plans.
- Build strong relationships with customers, sales teams, branch operations, and staff.
- Innovate and challenge existing processes, acting as a change agent within the credit organization.
- Collaborate with Credit Management on larger, complex accounts.
- Apply knowledge of domestic and international credit and collection practices.
- Communicate effectively with staff at all levels and negotiate credit decisions.
- Manage account reconciliations and dispute resolutions.
Planning, Reporting, and Analysis
- Analyze accounts receivable results timely and accurately, comparing them to forecasts and annual plans.
- Prepare month-end reports, analyze trends, and communicate findings.
- Develop countermeasures related to cash collections, disputes, and unapplied cash or credits.
- Communicate accounts receivable results monthly to credit management and staff.
- Evaluate customer financial statements to inform account decisions.
- Understand lien rights and notice of furnishing within the construction industry.
Talent Management
- Mentor, coach, and provide leadership to the collections staff.
- Drive improvements in collection processes and develop controls to enhance efficiency.
- Build a strong team by developing talent and promoting employee engagement.
- Implement and share best practices across the collections team.
- Approve and maintain time records for direct reports.
Compliance
- Maintain a robust internal control environment.
- Ensure compliance with the Sarbanes-Oxley Act related to accounts receivable.
- Adhere to global credit and collection policies.
- Manage proper accounting treatment and reconciliation of accounts receivable transactions.
- Follow escheatment policies and comply with FICAP, GAAP, SOX, and authority matrices.
Requirements
- 4-6 years of managerial experience leading a collections function.
- Strong leadership, presentation, and financial analysis skills.
- Ability to explain financial results clearly to management.
- Strong data management and business partnership capabilities.
- Knowledge of the construction, distribution, and service industries.
- Ability to collaborate effectively across the organization and influence business outcomes.
- Excellent problem-solving and negotiation skills.
- Willingness to travel 5%-10%.
- Bachelor's degree in Finance, Accounting, or related field preferred; relevant work experience may substitute.
Compensation & Benefits
- Base salary range: $95,000 to $115,000, dependent on experience and other factors.
- Bonus eligible.
- Health, dental, and vision insurance.
- Unlimited paid time off.
- 401(k) plan with a 6% company match and no vesting period.
- Health Savings Accounts and Flexible Spending Accounts.
- Short-term and long-term disability insurance.
- Term life insurance with options for supplemental coverage.
- Tuition reimbursement.
- Voluntary wellness program with monetary rewards.
- Employee discounts.
- Opportunities for community involvement.
Location
- Remote within the United States with occasional on-site visits as required.
- Candidates must be legally authorized to work in the U.S. without visa sponsorship.