Credit & Collections Manager

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Title: Credit and Collections Manager

Location: Chicago, IL

Pay Rate: $80K-$90K

Benefits: Medical, Dental, Vision, PTO, 401K

Must have experience working in distribution or manufacturing (Ideal candidate will be Bilingual Spanish & English)

The Credit and Collections Manager will be responsible for overseeing the credit and collections process, driving improvements in risk management, and ensuring the timely collection of accounts receivable. The ideal candidate will have extensive experience in credit management, staff leadership, and process optimization within a fast-paced, high-volume environment.

Key Responsibilities:

Oversee and collaborate with the Accounts Receivable (AR) Team to ensure effective management, reconciliation, and collection of accounts receivable.
Continuously improve invoicing, collection, risk management, customer communications, and interdepartmental processes.
Review credit applications, set credit limits and terms, and collaborate with Sales and Finance to balance risk and reward.
Research customers’ creditworthiness and establish trade credit thresholds to manage the company’s total credit exposure within an acceptable level.
Investigate the largest customer credit applications personally to ensure thorough due diligence.
Maintain and update credit files, payment history, and credit scores for ongoing monitoring of customer creditworthiness. Adjust trade credit caps as necessary based on credit status.
Manage and coordinate collection letters, calls, and other reminder notices.
Address invoice disputes and drive collections while maintaining positive customer relationships.
Develop and present Key Performance Indicator (KPI) reports and dashboards to monitor departmental performance.
Identify opportunities to automate, streamline, and reduce risk in the credit and collections processes.
Regularly present team performance updates to Accounting, Operations, and Executive Leadership.
Ensure that adequate staff, resources, and training are in place for effective execution of departmental tasks and workload.
Set collection goals and implement strategies to reduce Days Sales Outstanding (DSO).
Recommend improvements to credit and collection policies and procedures to senior management and the Executive Leadership Team.
Collaborate with the accounting team to establish accurate cash flow projections of customer payments.
Lead and manage the AR and billing team to ensure the timely completion of departmental tasks, including billing, collections, and reporting, in accordance with company policies and procedures.

Qualifications and Skills:

10+ years of credit and collections experience.
Bachelor’s degree in Business or a related field (preferred experience with credit scoring systems).
Strong knowledge of credit-related laws and best practices.
Proven experience in customer negotiations.
Experience in managing and leading staff and departmental performance.
Proficiency in Excel, Word, QuickBooks Enterprise, NetSuite, CRM, and ERP systems.
Exceptional analytical skills, attention to detail, and multitasking ability.
Excellent written and verbal communication skills, particularly for negotiations.
Strong leadership abilities with the capacity to work independently and manage a team effectively.

Qualified applicants will receive consideration for employment without regard to race, color, age, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status, or genetic information.