Credit Collections Manager POST NUMBER: 421652
This position will be responsible for managing the credit risk and receivables of an assigned area with the objectives of maximizing profits and increasing profit share. This position also has oversight for the Retail Finance activities that provide our customers with financing of the equipment, parts, service, and rentals purchased from the company.
Essential Functions and Responsibilities: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. (Other duties may be assigned)
- Lead Credit team, including development/coaching and training of staff, in support of achieving the goals of the credit department related to the collection of receivables, credit/account establishment, resolving account issues, and effective utilization of credit and collection financial resources.
- Responsible for establishing Dobbs Equipment credit policies and procedures based on the company’s risk appetite and economic environment, as approved by the company’s senior leadership.
- Build and maintain strong working relationships with internal business partners (VP’s, GM’s. sales and operations), utilizing clear and frequent communication.
- Develop, prepare, and review daily, weekly, and monthly reports related to outstanding receivables. Prepare, schedule, and lead weekly/monthly calls with branch management to review past-due customer accounts.
- Manage the collections on difficult and complex customers; including the use of Notice to Owner, Release of Lien, and Notice of Non-Payment. Preparation and sending of collection and demand letters as needed Manages legal and third-party collection activity once placed with outside collections or legal counsel.
- Manage assigned accounts to maintain low levels of delinquency. Collects large and complex past-due accounts utilizing technology and collection strategies. Gathers relevant market information and negotiates payment plans with past due customers. Customer visits as needed.
- Establish credit limits, as well as increases and decreases when needed. Review, and approve/decline credit terms, override requests and customer payment plans.
- Manage collection agency and legal account activity. Collaborate with attorneys on legal actions including demand letters, lawsuits and judgments.
- Ongoing credit analysis of new and existing customers utilizing financial statement analysis, credit bureau reports, customer history, and branch feedback. Establish credit limits, as well as increases and decreases when needed, credit terms and override requests.
- Utilizing tools to secure transactions with liens and file UCC’s as needed. Prepares release of liens, notice of non-payments, proof of claims, and sworn statements of accounts, as needed. Communicates and provides mentoring to Branch Administrators regarding notice to owner, lien, bond and/or release of lien issues.
- Analyzes and prioritizes litigated and defaulted accounts according to the level of risk and exposure. Makes recommendations to corporate management on engagement and resolution. Prepares bad debt write-off requests for non-finance charge related bad debt.
- Utilize Collection Management System (CMS) consistently to assure appropriate notes are made on account activity.
- Assists with account reconciliation and resolutions for misapplied cash.
- Manage customer PowerPlan and interal credit line based on needs. Assists in obtaining required documentation for PowerPlan as requested.
- Direct communication with customers regarding account standing, providing necessary documentation to resolve any outstanding issues.
Qualifications: The requirements listed below are representative of the knowledge, skill, and/or ability required.
- Valid Drivers License
- Management experience
- Credit/Collections experience
Education, Skill, and/or Experience Requirements:
- College Degree in Finance/Accounting or a minimum of three years in Credit and Collections.
- Ability to communicate effectively (verbal and written) with teammates and customers.
- Strong problem-solving skills.
- Must be able to self-manage/self-motivate.
- PC literate, proficient with MS Office, with an emphasis in Excel and Outlook required.
- Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.
- Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.
- Quick learner with the ability to think out of the box.
- Positive attitude, good organizations skills.
- Understanding of credit and collections. Strong ability in negotiation and conflict resolution skills.
- Ability to multi-task in a fast-paced environment with proficient follow-up.
- Ability to manage positive relationships, both internally and externally, and holding teammates and customers accountable.
- Good understanding of credit reporting agencies such as Equifax and Cortera, as well as basic understanding of financial statements.
- Willingness to travel as needed, up to 25%.
- Knowledge of related federal and state laws affecting and governing collection activity.
- Knowledge of related federal and state laws affecting bankruptcy.
- Knowledge of Uniform Commercial Code (UCC)-Revised Article 9 or equivalent legislation.
- Ability to multi-task in a fast-paced environment.
- Ability to manage relationships, both internally and externally, and holding teammates and customers accountable.
Vaco values a diverse workplace and strongly encourages women, people of color, LGBTQ+ individuals, people with disabilities, members of ethnic minorities, foreign-born residents, and veterans to apply.
EEO Notice
Vaco is an Equal Opportunity Employer and does not discriminate against any employee or applicant for employment because of race (including but not limited to traits historically associated with race such as hair texture and hair style), color, sex (includes pregnancy or related conditions), religion or creed, national origin, citizenship, age, disability, status as a veteran, union membership, ethnicity, gender, gender identity, gender expression, sexual orientation, marital status, political affiliation, or any other protected characteristics as required by federal, state or local law.
Vaco LLC and its parents, affiliates, and subsidiaries are committed to the full inclusion of all qualified individuals. As part of this commitment, Vaco LLC and its parents, affiliates, and subsidiaries will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@vaco.com .
Vaco also wants all applicants to know their rights that workplace discrimination is illegal.
By submitting to this position, you agree that you will be giving Vaco the exclusive right to present your as a candidate for the foregoing employment opportunity. You further agree that you have represented information about yourself accurately and have not affirmatively misrepresented your qualifications. You also agree to maintain as confidential, to the fullest extent permitted by law, any information you learn from Vaco about the position and you will limit disclosure of information about the position only to the extent necessary to perform any obligations in furtherance of your application. In exchange, Vaco agrees to exercise reasonable efforts to represent you through all solicitation, job screening and resume dispersal.
Privacy Notice
Vaco LLC and its parents, affiliates, and subsidiaries (“we,” “our,” or “Vaco”) respects your privacy and are committed to providing transparent notice of our policies.
- California residents may access Vaco’s HR Notice at Collection for California Applicants and Employees here.
- Virginia residents may access our state specific policies here.
- Residents of all other states may access our policies here.
- Canadian residents may access our policies in English here and in French here.
- Residents of countries governed by GDPR may access our policies here.
Pay Transparency Notice
Determining compensation for this role (and others) at Vaco depends upon a wide array of factors including but not limited to:
- the individual’s skill sets, experience and training;
- licensure and certification requirements;
- office location and other geographic considerations;
- other business and organizational needs.
With that said, as required by local law, Vaco believes that the following salary range referenced above reasonably estimates the base compensation for an individual hired into this position in geographies that require salary range disclosure. The individual may also be eligible for discretionary bonuses.