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Commercial lending vice president vs collections manager

The differences between commercial lending vice presidents and collections managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a commercial lending vice president and a collections manager. Additionally, a commercial lending vice president has an average salary of $94,727, which is higher than the $59,529 average annual salary of a collections manager.

The top three skills for a commercial lending vice president include loan portfolio, financial statements and business development. The most important skills for a collections manager are customer service, collection management, and portfolio.

Commercial lending vice president vs collections manager overview

Commercial Lending Vice PresidentCollections Manager
Yearly salary$94,727$59,529
Hourly rate$45.54$28.62
Growth rate17%17%
Number of jobs58,56344,553
Job satisfaction--
Most common degreeBachelor's Degree, 78%Bachelor's Degree, 51%
Average age4646
Years of experience88

What does a commercial lending vice president do?

A Commercial Lending Vice President provides customers with financial counseling and recommends bank products that fit their needs. They monitor a team of loan officers.

What does a collections manager do?

A collections manager is an individual who manages a staff of collectors whose job is to contact companies and individuals for the late payments on the products and services they have received. Collections managers oversee a company's process of retrieving money owed to them by assigning collectors to collect the money. They are required to handle customer complaints and must negotiate with customers about payment arrangements to ensure they are being paid. They also provide reports on the collection department's progress, statistics, and data analysis.

Commercial lending vice president vs collections manager salary

Commercial lending vice presidents and collections managers have different pay scales, as shown below.

Commercial Lending Vice PresidentCollections Manager
Average salary$94,727$59,529
Salary rangeBetween $73,000 And $121,000Between $42,000 And $83,000
Highest paying City-New York, NY
Highest paying state-New York
Best paying company-Amazon
Best paying industry-Health Care

Differences between commercial lending vice president and collections manager education

There are a few differences between a commercial lending vice president and a collections manager in terms of educational background:

Commercial Lending Vice PresidentCollections Manager
Most common degreeBachelor's Degree, 78%Bachelor's Degree, 51%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaStanford University

Commercial lending vice president vs collections manager demographics

Here are the differences between commercial lending vice presidents' and collections managers' demographics:

Commercial Lending Vice PresidentCollections Manager
Average age4646
Gender ratioMale, 81.7% Female, 18.3%Male, 50.8% Female, 49.2%
Race ratioBlack or African American, 8.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 7.3% White, 65.1% American Indian and Alaska Native, 0.3%Black or African American, 8.0% Unknown, 4.1% Hispanic or Latino, 15.5% Asian, 7.3% White, 64.7% American Indian and Alaska Native, 0.3%
LGBT Percentage11%11%

Differences between commercial lending vice president and collections manager duties and responsibilities

Commercial lending vice president example responsibilities.

  • Establish and manage customer relationships, credit approval/recommendation, documentation, servicing of commercial, real estate, and SBA loans.
  • Manage a loan pipeline from origination through to settlement and funding in accordance with Bankpolicies, procedures and regulatory requirements.
  • Manage a portfolio in various stages of workout including liquidation, refinancing, restructure, rehabilitation, bankruptcy and litigation.
  • Expand commercial loan product offerings by establish bank with the SBA, enabling usage of SBA programs for loan risk mitigation.
  • Co-Manage a portfolio of $275MM with a senior relationship manager facilitating underwriting, renewals and origination.
  • Manage a loan pipeline from origination through to settlement and funding in accordance with Bankpolicies, procedures and regulatory requirements.
  • Show more

Collections manager example responsibilities.

  • Achieve 182 FTE save, and annual net saving of $2.8MM
  • Manage Medicaid accounts in effort to receive payment from them.
  • Manage self pay and Medicaid pending collections throughout the southeast region.
  • Organize the managed care effort to ensure that patients are not accept from incorrect PPO's and HMO's.
  • Create and implement new quantitative process to achieve corporate DSO targets that determines monthly cash collection targets by business unit.
  • Achieve historical low of six percent in A/R over 30 days past due and reduction of DSO to 53 days.
  • Show more

Commercial lending vice president vs collections manager skills

Common commercial lending vice president skills
  • Loan Portfolio, 11%
  • Financial Statements, 7%
  • Business Development, 7%
  • Real Estate Loans, 6%
  • Commercial Banking, 5%
  • Commercial Loans, 5%
Common collections manager skills
  • Customer Service, 15%
  • Collection Management, 9%
  • Portfolio, 7%
  • FDCPA, 5%
  • Delinquent Accounts, 4%
  • Credit Card, 4%

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