Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

How to Become a Credit and Collections Supervisor

Career News May 29, 2014

A credit and collections supervisor exercises a manager’s authority over a department, in this case collections—the one responsible for negotiating payment with late or past due borrowers.

This is certainly not an easy task, given that you are dealing with stressful situations, and with clients who must be pressed into paying what they know they owe. Understanding the potential for abuse is necessary, as many collections agents give the industry a bad name. At the same time, if you never take action against borrowers who are past due, the company stands to lose money.

Roles and Responsibilities

This is not really the agent’s responsibility; he or she is the messenger. You are the supervisor, and it’s your job to shape the policy, and implement systems that work. Depending on your business, and your specific job description, you may be following corporate orders, or may actually develop your own system for improving accounts receivable.

Much of your work will involve investigating credit risks and overseeing staff of the collections agency. Although agents contact borrowers, you are the one who keeps the team motivated and keeps them thinking prolifically. This work requires street smarts, formal education, and the ability to communicate with people earnestly.

Naturally, no one looks forward to talking to collections agents, and no one is going to respond to bullying behavior. There are actually laws in place that prevent harassment from collections agents, and you will work cautiously so as to stay in compliance with all state laws.

The other part of your work consists of analytical smarts and mathematical understanding. You may use a calculator during your work, but you have to understand finance and lending, and the best way to eliminate debt for your business and for the borrower you’re negotiating with.

Work Experience and College Training

Most companies will not hire a manager applicant unless he or she possesses a bachelor’s degree. Managerial roles are complex and require an understanding of human nature, knowledge of business practices, and in particular, knowledge of the lending and financing business. You are urged to go to school for subjects like finance, business administration, or even credit investigations. These are the procedures you will be working with every day, and you are expected to know them.

There is no replacement for solid business experience and most companies will require anywhere from five to seven years of experience working in the field and credit. You may have to take an entry-level job at first, but as you remain consistent and prove yourself a team player with a thorough understanding of how the collections business works, you will prove yourself worthy of higher responsibility.

This is an ideal career choice for someone who is driven, personable and values work ethic. If you succeed in collections or a related field, and have the education needed to stand up to competition, then it’s time to reach out for promotions and a rewarding career. Why not go back to school now, even as you look for an entry-level job, and start aiming for a higher position in your career planning?

Searching Searching ...

Matching School Ads
1 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
2 Program(s) Found
South University , Glen Allen
  • Program options include Accounting, Business Administration, Leadership, and more.
  • Curriculum focuses on developing leadership, critical thinking, problem-solving, and communication skills.
  • Programmatic accreditation by the Accreditation Council for Business Schools and Programs (ACBSP) at select campuses.
  • Business programs are available at many of the 11 campus locations across the United States.
Good for Working Adults
  • Flexible Scheduling
  • Financial Aid
  • Education Connection is a 100% Free College Matching Service used by 50,000 People Daily.
  • Get Matched to the Right Business Administration and Management, Accounting, Healthcare Administration, Marketing and Entrepreneurship Degree Program for YOU.
  • Affordable and Flexible Business Degree Programs from Top Colleges Across the Nation. Both Online And Campus!
  • Just Fill Out a Few Questions and You Can Find Your Perfect Business Degree Program Within Minutes.
  • Start Using our Fast, Free, and Easy Matching Service Right HERE and Right NOW!
  • Online Courses
  • Full Sail’s curriculum combines elements of creativity, art, business and life skills, technical prowess, and academic achievement.
  • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average.
  • Students work with industry-standard tools and technologies, allowing them to gain practical knowledge and real-world experience.
  • Join us on Facebook, Twitter, YouTube and Instagram to interact with our community, read about grad success, and see campus images.
  • Online Courses

Searching Searching ...

Matching School Ads
1 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
  • Education Connection is a 100% Free College Matching Service used by 50,000 People Daily.
  • Get Matched to the Right Business Administration and Management, Accounting, Healthcare Administration, Marketing and Entrepreneurship Degree Program for YOU.
  • Affordable and Flexible Business Degree Programs from Top Colleges Across the Nation. Both Online And Campus!
  • Just Fill Out a Few Questions and You Can Find Your Perfect Business Degree Program Within Minutes.
  • Start Using our Fast, Free, and Easy Matching Service Right HERE and Right NOW!
  • Online Courses
  • Campus-based and online business programs include Entertainment Business (BS), Internet Marketing (BS), and Business Intelligence (MS)
  • Students will explore business concepts like marketing, global media management, and business technology and design
  • Courses designed to prepare students for a career in business and Career Development advisors available to all alumni
  • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!