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Become A Credit And Collections Analyst

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Working As A Credit And Collections Analyst

  • Getting Information
  • Interacting With Computers
  • Communicating with Supervisors, Peers, or Subordinates
  • Documenting/Recording Information
  • Communicating with Persons Outside Organization
  • Deal with People

  • Unpleasant/Angry People

  • Mostly Sitting

  • Repetitive

  • $34,440

    Average Salary

What Does A Credit And Collections Analyst Do At Wolters Kluwer

* Proactively ensures individual responsibility is carried out to enable the ability to achieve the Corporate goals for Cash Collections, reduction of risk related to Bad Debt and improve overall Days Sales Outstanding (DSO) metrics
* Contact assigned customers for payments on aged accounts via voice and email.
* Maintain a good working relationship with all accounts, both internal and external, while being firm regarding payment requirements and define collection processes
* Review accounts on credit hold list to make a determination to release orders or not
* Respond to heavy incoming calls and emails from customers relating to their accounts and payments.
* Research, identify and resolve customer disputes.
* Liaise with internal offices, customer service, billing and/or sales departments, or off-shore cash collection and cash applications to address and correct billing or cash application discrepancies
* Investigate unknown cash receipts to ensure correct allocations
* Proactively escalate issues to Credit Director and appropriate levels of leadership
* Analyze payment trends and proactively determine root cause for non-payment and then take action to resolve
* Produce monthly/periodical reports, as needed
* Maintain files on assigned customer accounts and update the system with all comments pertaining to the account
* Performs other duties as assigned by supervisor

What Does A Credit And Collections Analyst Do At ITT Corporation

* Determine credit worthiness to approve Domestic, Canadian and Export orders within assigned authority levels by using the following tools: Dun & Bradstreet Credit Reports, forecast programs, Financial statement analysis, Trade reports, References, etc.
* Analyze credit worthiness of customers for orders that exceed authority level by analyzing and furnishing supporting documentation as well as a recommendation to the next higher authority level.
* Analyze terms and conditions on orders and gain proper divisional acceptance for extraordinary terms.
* Establish current credit limits to maximize sales and minimize losses.
* Utilize the GetPAID application within an assigned portfolio to perform collection functions and to make proactive contact on large dollar invoices to improve and maximize ITT cash flow.
* Work with all ITT units to control shipments to delinquent accounts to limit potential bad debts.
* Evaluate and discuss with Credit supervisor, Unit Controllers, and Sales all potential bad debts.
* Analyze, recommend, and establish an action plan to minimize losses.
* Through investigative questioning, obtain complete details from the customer on any disputed item (short payments, overpayments, deductions) and distribute the item to the appropriate Unit contact.
* Provide customer service by assisting in the reconciliation of accounts.
* Schedule and facilitate Significant Issues meetings with Unit Controllers.
* Knowledge and ability to produce, maintain, and distribute various reports as required.
* Review various A/R spreadsheets to analyze and summarize significant shifts in the payment habits of customers.
* Other duties as assigned

What Does A Credit And Collections Analyst Do At Randstad

* Management of customer/sales relationships (cash calls, qmi calls)
* Collection of customer accounts for timely receipt of payments, creation of value through the reduction of bad debt
* Review orders and facilitate credit release, communicating holds when necessary.
* Ensure necessary approvals are received per Master Authority Schedule.
* Partner with sales, customer service regarding claims research and resolution (discounted terms, duplicate reduction, unknown claims)
* Perform other duties to support the needs of the CFO team as requested

What Does A Credit And Collections Analyst Do At Holcim (Us) Inc.

* Demonstrates a commitment to communicating, improving and adhering to safety policies in all work environments and areas.
* Responsible for the review and process of customer requests for credit.
* Engages in aggressive collection activities with customers through constant communication via telephone, email, fax or written correspondence.
* Generates collections aging reports to analyze and determine which accounts to aggressively pursue collection activities.
* Prepares accurate credit related reports for management.
* Conducts analysis of customer financial information and credit history to determine the degree of risk involved in extending credit.
* Performs industry research and ratios; compares measures such as liquidity, profitability, credit history and cash with other companies of the same industry, size and geographic location; analyzes factors such as income growth, quality of management, market share, potential risks of industry and collateral appraisal.
* Other duties as assigned.
* Qualifications
* KNOWLEDGE

What Does A Credit And Collections Analyst Do At Shoretel

* Worldwide credit and collections
* Monitor AR cash collections, past due invoices and high risk accounts
* Provide management reports on each
* Meeting or exceeding quarterly cash collection and DSO goals
* Work AR problem accounts, initiate and follow up on billing dispute cases and appropriately logging all customer contacts
* Determine proper action for those accounts determined uncollectible
* Accurate accounting on adjustment requests with proper documentation

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How To Become A Credit And Collections Analyst

Collectors usually must have a high school diploma. A few months of on-the-job training is common.

Education

Most bill and account collectors are required to have a high school diploma, although some employers prefer applicants who have taken some college courses. Communication, accounting, and basic computer courses are examples of classes that are helpful for entering this occupation.

Training

Collectors usually get 1 to 3 months of on-the-job training after being hired. Training includes learning the company’s policies and computer software and learning the laws for debt collection in the Fair Debt Collection Practices Act, as well as their state’s debt-collection regulations. Collectors also may be trained in negotiation techniques.

Important Qualities

Listening skills. Collectors must pay attention to what debtors say when trying to negotiate a repayment plan. Learning the particular situation of the debtors and how they fell into debt can help collectors suggest solutions.

Negotiating skills. The main aspects of a collector’s job are reconciling the differences between two parties (the debtor and the creditor) and offering a solution that is acceptable to both parties.

Speaking skills. Collectors must be able to speak to debtors to explain their choices and ensure that they fully understand what is being said.

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Credit And Collections Analyst jobs

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Credit And Collections Analyst Career Paths

Credit And Collections Analyst
Collections Specialist Billing Specialist Specialist
Account Manager
5 Yearsyrs
Accountant Business Manager Account Coordinator
Account Supervisor
5 Yearsyrs
Collections Specialist Accounts Receivable Specialist
Accounts Receivable Manager
6 Yearsyrs
Senior Credit Analyst Credit Manager Office Manager
Administrative Manager
6 Yearsyrs
Accounts Receivable Analyst Accountant Account Manager
Business Development Manager
9 Yearsyrs
Account Manager Human Resources Coordinator Business Office Manager
Business Office Director
8 Yearsyrs
Credit And Collection Manager Accounts Receivable Manager Office Manager
Business Office Manager
8 Yearsyrs
Collection Analyst Senior Credit Analyst Credit Manager
Collection Supervisor
5 Yearsyrs
Account Manager Billing Specialist Collector
Collections Manager
5 Yearsyrs
Analyst Underwriter Senior Credit Analyst
Credit And Collection Manager
7 Yearsyrs
Collection Analyst Accounts Receivable Analyst Accounts Receivable Supervisor
Credit Manager
5 Yearsyrs
Credit Representative Customer Care Representative Customer Account Representative
Customer Account Manager
5 Yearsyrs
Credit And Collection Manager Accounts Receivable Specialist Accounts Receivable Manager
Office Manager
5 Yearsyrs
Senior Credit Analyst Assistant Vice President Human Resources Coordinator
Office Manager Of Human Resources
6 Yearsyrs
Finance Analyst Senior Consultant Manager
Owner/Manager
6 Yearsyrs
Credit Manager Branch Manager Account Executive
Relationship Manager
6 Yearsyrs
Accounts Receivable Analyst Finance Analyst Finance Manager
Sales Manager
5 Yearsyrs
Analyst Finance Manager Accounts Receivable Specialist
Senior Accounts Receivable Specialist
7 Yearsyrs
Finance Analyst Account Manager Billing Specialist
Senior Billing Specialist
7 Yearsyrs
Credit Manager Office Manager Sales Consultant
Territory Manager
7 Yearsyrs
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Credit And Collections Analyst Demographics

Gender

  • Female

    71.5%
  • Male

    26.9%
  • Unknown

    1.7%

Ethnicity

  • White

    78.5%
  • Hispanic or Latino

    13.8%
  • Asian

    5.9%
  • Unknown

    1.1%
  • Black or African American

    0.7%
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Languages Spoken

  • Spanish

    65.3%
  • French

    10.5%
  • German

    5.3%
  • Turkish

    3.2%
  • Mandarin

    2.1%
  • Russian

    2.1%
  • Swedish

    1.1%
  • Chinese

    1.1%
  • Dakota

    1.1%
  • Cantonese

    1.1%
  • Armenian

    1.1%
  • Hindi

    1.1%
  • Urdu

    1.1%
  • Polish

    1.1%
  • Thai

    1.1%
  • Italian

    1.1%
  • Korean

    1.1%
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Credit And Collections Analyst

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Credit And Collections Analyst Education

Credit And Collections Analyst

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Real Credit And Collections Analyst Salaries

Job Title Company Location Start Date Salary
Credit & Collections Analyst Aviance Hair Corporation Carlstadt, NJ Feb 12, 2015 $90,522
Business Credit and Collections Analyst Ramsca, Inc. Homestead, FL Jul 30, 2015 $49,045
Credit and Collections Analyst New Century Financial, Inc. The Woodlands, TX Sep 06, 2014 $46,000
Business Credit and Collections Analyst Printex Corp. Coral Springs, FL Sep 11, 2014 $45,914
Business Credit and Collections Analyst Ramsca, Inc. Homestead, FL Aug 01, 2012 $42,784
Credit and Collection Analyst Dresser-Rand Company Houston, TX Oct 01, 2009 $42,000

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Top Skills for A Credit And Collections Analyst

FinancialStatementsCustomerServiceReceivablePortfolioDebtAccountsReceivablesCreditCardPaymentsDelinquentAccountsCustomerAccountsPastDueAccountsDSOCreditApplicationsCollectionCallsBradstreetCreditWorthinessPaymentPlansAccountReconciliationCreditReportsNewAccountsCreditHoldPaymentArrangements

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Top Credit And Collections Analyst Skills

  1. Financial Statements
  2. Customer Service
  3. Receivable Portfolio
You can check out examples of real life uses of top skills on resumes here:
  • Review company reports and analyze financial statements to develop an understanding of company.
  • Trained employees in credit/collection procedures for customer service and accounts receivable departments.
  • Collect on Accounts Receivable Portfolio of 150-200 accounts which are over 61+ days past due on a monthly basis.
  • Worked out payment plans for customers that helped eliminate charge off debt.
  • Conducted collection calls and customer visits to collect Accounts Receivables.

Top Credit And Collections Analyst Employers