Internal Collection Head

About the role

Collection head oversee the financial collection department of a company and are responsible for the correct invoicing of clients and the timely receiving of payment. They also observe and review the interactions of staff members with clients to ensure that collections are done according to company policies and regulations.

Key responsibilities

• Overseeing staff members and ensuring the accurate and timely invoicing of customers
• Setting payment collection goals and targets for the department
• Creating and implementing a strategy to improve the collection of outstanding credit
• Implementing collection policies and procedures to avoid excessive outstanding credit
• Ensuring that the company policy on recoveries is followed and in line with state and federal regulations
• Implementing deadlines for invoicing and payment collection
• Preparing monthly feedback reports on payment collections
• Train and mentor staff members in the collections department
• Establishes quality control standards and maintains and enforces them over time
• Maintain a tracking system of incoming dues and late payments