Credit and Collection Officer Job Description

October 8, 20111 Comment

Credit and Collection Officer Job Profile and Description

The job of a credit and collection officer is to closely monitor the aging of payment receivables and ensure that receivables are monetized. Purchases made on credit such as those involving 30-60-90 day payment receivables are accepted in wholesale merchandising and the service sector.  Freight forwarding services allow this for their shippers as well.  They are also tasked to implement the approved credit terms to its frequent clients with favorable terms on top of regular terms.

Credit and Collection Officer Duties and Responsibilities

As the officer has to monitor all the credit receivables and terms so there are a number of duties and responsibilities which have to be fulfilled and they are as follows:

  • He or she has to be sure about the optimum productivity so has to observe the work shift hours.
  • He or she has to maintain the coordination with the Accounts Receivables to update the corporate accounts receivables journal entries reflecting payments credited to sales receivables.
  • He or she has to always monitor the payments aging so has to provide clients with invoice reminders as the due date of payments fall due.
  • He or she has the responsibility to review everything before releasing the bolls such as coordinating with invoicing clerks to ensure that the list of clients for invoicing is updated and accurate.
  • It will be the duty to compute the late payment surcharges and prepare the application in time.
  • He or she has to issue collection notices for sales credits that are past due dates
  • He or she needs to collaborate with the third party so will have to maintain good relations with party collection agencies.

Credit and Collection Officer Skills and Specifications

There are the following attributes required in the candidate to be a credit and collection officer:

  • The candidate needs to have excellent and exceptional communication, skills to be verbally fluent.
  • He or she should be diplomatic, negotiation and interpersonal skills to deal with creditors and bank executives
  • He or she should be able to perform multiple tasks so must exhibit strong multitasking abilities.
  • He or she should have organizational, analytical and problem solving skills and should be a trouble shooter.

Credit and Collection Officer Education and Qualifications

  • The candidate needs to have  BS degree in accountancy and a CPA
  • The candidate having a Master’s degree in accountancy is preferred for the job.
  • It will be added as an distinct advantage having some past 5-8 years of working experience in managing corporate debts and collateralized assets

Credit and Collection Officer Salary

The annual salary of a Debt Management Director ranges from about $60,500 to a high of $87,700.

  Click Here to Download Credit and Collection Officer Job Description

Popular Job Description Search:

Filed in: Banking Job Description
Tagged with:

Comments (1)

Trackback URL | Comments RSS Feed

  1. karthik.p says:

    Any recovery officer wanted job in madurai

Leave a Reply

Back to Top