JOB SUMMARY:
The Collections Supervisor will oversee and manage the collections process for outstanding accounts receivable, ensuring timely collection of payments and resolution of payment issues. The role involves leading the Collections team, monitoring collection performance, and coordinating account resolution before cases are escalated to the Litigation process.
Key Responsibilities
1. Team Leadership and Management
- Supervise and guide Collections Officers to achieve collection targets and departmental goals.
- Set performance targets, monitor productivity, and provide coaching and support to team members.
- Supervise Collections Officers in closing outstanding accounts and completing required collection activities before escalation.
2. Collections Strategy and Account Management
- Develop and implement effective collection strategies for delinquent accounts.
- Handle complex or high-value accounts and negotiate payment arrangements when appropriate.
- Monitor account status and ensure timely follow-ups and resolution of outstanding balances.
- Coordinate with relevant teams to resolve payment issues, disputes, and other account concerns.
3. Collections Monitoring and Litigation Coordination
- Maintain and regularly update the collections tracker, ensuring accurate account status, payment updates, follow-ups, and collection actions.
- Monitor the progress of each account and ensure all reasonable collection efforts are completed before escalation.
- Review and validate accounts recommended for Litigation, ensuring required documentation and collection history are complete.
- Coordinate with the appropriate teams for the proper endorsement and escalation of accounts to the Litigation process.
- Track escalated accounts and ensure proper handover from Collections to Litigation.
4. Compliance and Reporting
- Ensure all collection activities comply with company policies, legal and regulatory requirements.
- Prepare reports on collection performance, delinquency, recovery, and accounts escalated to Litigation.
- Maintain accurate records of collection activities, account status, payment arrangements, and escalation history.
5. Process Improvement and Collaboration
- Identify opportunities to improve collection processes, tracking, and recovery rates.
- Collaborate with Sales, Finance, Operations, and other relevant teams to resolve account issues.
- Recommend improvements to collection strategies and processes based on account performance and recurring issues.
- Ensure effective coordination between Collections and Litigation to support timely account resolution.
