Collections managers oversee the financial collection department and are responsible for revenue collection and the credit and financial reporting of the organization. They report on the department’s progress to the accounts manager and manage a team of collection officers.
When interviewing collections managers, the most suitable candidate will have outstanding negotiation skills to recover late and outstanding payments and have great communication skills. Be wary of candidates who lack analytical skills and who have an impatient personality.
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Interview Questions for Collections Managers:
1. What control measures do you think are essential in a collections department?
Reveals more about the candidate’s knowledge of the functions of a collections department.
2. What have you found to be the most effective way to collect outstanding payments?
Tests the candidate’s innovation and negotiation skills.
3. How would you handle a customer refusing to pay interest on late payments?
Assesses the candidate’s interpersonal skills.
4. What training would you suggest for new collection officers?
Examines the candidate’s knowledge of staff requirements.
5. When would you hand over arrear accounts to the legal department?
Tests the candidate’s handling of delinquent accounts.
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