Direct the workers engaged in conducting credit investigations.
What does a Credit and Collection Manager do?
Directs and coordinates activities of workers engaged in conducting credit investigations and collecting delinquent accounts of customers: Assigns workers, directly or through subordinate supervisors, responsibility for investigating and verifying financial status and reputation of prospective customers applying for credit, preparing documents to substantiate findings, and recommending rejection or approval of applications. Establishes credit limitations on customer account. Assigns responsibility for investigation of fraud cases and possible legal action and collection for worthless checks and delinquent bills. Reviews collection reports to ascertain status of collections-and-balances outstanding and to evaluate effectiveness of current collection policies and procedures. Audits delinquent accounts considered to be uncollectible to ensure maximum efforts have been taken before assigning bad-debt status to account. Coordinates with others, including personnel in company branches and credit card companies, to exchange information and update controls. May submit delinquent accounts to attorney or outside agency for collection. May compile and analyze statistical data on fraudulent use of credit cards to develop procedures designed to deter or prevent use of cards. May specialize in credit and collection activities for credit cards and be designated Manager, Credit Card Operations.