What are the responsibilities and job description for the Credit & Collections Manager position at Synectics Inc.?
Responsibilities
- The Credit and Collections Manager is responsible for maximizing the collection of Accounts Receivable, ISF checks, credit card chargebacks, and unconfirmed deposits while minimizing corporate bad debt write-offs.
- This position also provides leadership and direction to the collections staff to ensure efficiency, compliance, and achievement of departmental goals.
- Open Account Management
- Establish and maintain effective collection processes for all company open accounts.
- Process and analyze held orders to facilitate order release and revenue realization.
- Develop and implement procedures for managing past due accounts, issuing collection letters, and other related credit activities.
- Review and process credit applications, analyze credit risk, and determine appropriate credit limits.
- Contact customers through telephone, mail, or email to resolve disputes and secure timely payment of delinquent accounts within legal and regulatory guidelines.
- Supervise and monitor credit and collections associates' performance, ensuring adherence to procedures and achievement of targets.
- Utilize strong project management, communication, and leadership skills to foster a collaborative and productive team environment.
- Maintain positive relationships with other departments and external partners to ensure efficient and compliant operations
- Chargeback and credit card related management
- Review and oversee the rules established for credit card monitoring systems to ensure fraud levels remain within acceptable thresholds.
- Establish and maintain effective collection process for ISF checks, credit card chargebacks, and unconfirmed deposits.
- Collaborate with the Customer Payment Team to minimize credit card fraud and maintain manageable levels of held orders.
- Administer and optimize the collections software system, ensuring it supports effective prioritization, workflows, and strategies for different customer segments.
- Conduct quarterly reviews of collection strategies to ensure ongoing effectiveness and improvement.
- Prepare and deliver regular reports and analysis on Credit and Collections performance to senior management.
- Analyze and monitor the credit risk of all open accounts, providing recommendations to minimize exposure.
- Perform chargeback analysis to minimize risk for the company to ensure Kount rules are reacting to any trends found.
- Perform other related duties or special projects as assigned, including occasional travel.
- Bachelor's Degree in Business, Accounting, Finance, or a related field.
- Minimum of 2 years of experience in credit and collections; supervisory experience preferred.
- Strong strategic planning, analytical, and decision-making abilities.
- Excellent organizational and multitasking skills.
- Strong interpersonal and leadership skills with the ability to work collaboratively across teams.
- Exceptional written and verbal communication skills.
- Proficiency in Microsoft Office applications, particularly Excel, Word, and Outlook.
- Proven ability to lead projects and motivate teams to meet goals, especially during high-volume periods.
- Hybrid remote and office based
- Extensive computer use and prolonged periods at a workstation along with heavy use of Microsoft Teams and Zoom video call applications
- Standard business hours, with occasional extended hours during peak activity periods.
- Travel to/ from physical office locations as required or as necessary to manage collection teams.
- Medical/Dental/Vision Insurance
- 401K & Profit Sharing Plan
- Incentive Bonus Plans
- Paid Holidays & Paid Time Off
- Paid Parental Leave
- Short-Term/Long-Term Disability
- Training Opportunities
- Basic & Optional Life Insurance
- Employee Discount