Credit risk management director vs collections manager

The differences between credit risk management directors 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 credit risk management director and a collections manager. Additionally, a credit risk management director has an average salary of $147,122, which is higher than the $59,529 average annual salary of a collections manager.

The top three skills for a credit risk management director include SAS, derivative and alll. The most important skills for a collections manager are customer service, collection management, and portfolio.

Credit risk management director vs collections manager overview

	Credit Risk Management Director	Collections Manager
Yearly salary	$147,122	$59,529
Hourly rate	$70.73	$28.62
Growth rate	17%	17%
Number of jobs	87,019	44,553
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 75%	Bachelor's Degree, 51%
Average age	46	46
Years of experience	8	8

What does a credit risk management director do?

A credit risk management director spearheads and oversees the credit management activities of an organization, ensuring operations run smoothly and efficiently according to company standards and regulations. They have the authority to make significant decisions, coordinate managers and supervisors, delegate responsibilities, negotiate and build positive relationships with external parties, and implement programs that will optimize company operations. They also participate in recruiting and hiring staff, developing plans and strategies, and engaging with clients. Additionally, a credit risk management director empowers employees and implements company policies, creating new ones as necessary.

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.

Credit risk management director vs collections manager salary

Credit risk management directors and collections managers have different pay scales, as shown below.

	Credit Risk Management Director	Collections Manager
Average salary	$147,122	$59,529
Salary range	Between $95,000 And $227,000	Between $42,000 And $83,000
Highest paying City	Albany, NY	New York, NY
Highest paying state	New Hampshire	New York
Best paying company	LendingClub	Amazon
Best paying industry	Finance	Health Care

Differences between credit risk management director and collections manager education

There are a few differences between a credit risk management director and a collections manager in terms of educational background:

	Credit Risk Management Director	Collections Manager
Most common degree	Bachelor's Degree, 75%	Bachelor's Degree, 51%
Most common major	Business	Business
Most common college	University of Pennsylvania	Stanford University

Credit risk management director vs collections manager demographics

Here are the differences between credit risk management directors' and collections managers' demographics:

	Credit Risk Management Director	Collections Manager
Average age	46	46
Gender ratio	Male, 72.5% Female, 27.5%	Male, 50.8% Female, 49.2%
Race ratio	Black or African American, 7.4% Unknown, 4.1% Hispanic or Latino, 14.1% Asian, 10.0% White, 64.1% 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 Percentage	11%	11%

Differences between credit risk management director and collections manager duties and responsibilities

Credit risk management director example responsibilities.

Lead SOX project planning and implementation, successfully implement the corporate governance policies and internal control framework.
Perform due diligence and treasury integration for acquisitions in the U.S. and Mexico.
Work on risk strategies with executives, Connell executives, treasury, and outside counsel.
Coordinate with trading desks and legal groups in structuring collateral arrangements for various derivative products.
Major focus are on risk and DSO, integrating acquisitions, national accounts, high-risk customer visitations/negotiations, and trend identification/remediation.
Develop and implement credit and collection polices and controls for Sarbanes-Oxley compliance for the entire corporation and publish across all divisions.

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.

Credit risk management director vs collections manager skills

Common credit risk management director skills

SAS, 7%
Derivative, 5%
Alll, 5%
Real Estate, 5%
SQL, 5%
Financial Institutions, 4%

Common collections manager skills

Customer Service, 15%
Collection Management, 9%
Portfolio, 7%
FDCPA, 5%
Delinquent Accounts, 4%
Credit Card, 4%

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Credit Risk Management Director
Credit Risk Management Director vs Collections Manager

Updated January 8, 2025

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