Collections Manager

Since 1906, New Balance has empowered people through sport and craftsmanship to create positive change in communities around the world. We innovate fearlessly, guided by our core values and driven by the belief that conventions were meant to be challenged. We foster a culture in which every associate feels welcomed and respected, where leaders and creatives are inspired to shape the world of tomorrow by taking bold action today.

JOB MISSION: The mission of the Collections Manager is to optimize the collections process, ensure timely and efficient recovery of outstanding debts while maintaining positive relationships with clients. This role involves assisting in the development and implementation of effective collection strategies, managing and motivating the collections team, and ensuring compliance with all relevant regulations. The Collections Manager aims to contribute to the financial health of the organization by minimizing bad debt and enhancing cash flow.

MAJOR ACCOUNTABILITIES:

• Develop and implement strategies to increase the number of successful collections on outstanding debt.
• Recruit, train, and manage the collections team.
• Set targets and monitor performance of the collections team.
• Conduct risk assessments and analyze potential clients.
• Provide monthly cash forecasts for multiple entities.
• Perform regular audits to ensure compliance with state and federal collections laws.
• Negotiate with debtors to establish repayment plans.
• Develop and recommend policies and procedures to meet collection objectives.
• Oversee and approve the write-off process for uncollectible debts.
• Oversee the third-party collection process.
• Prepare and present reports on collection activities and accounts receivable status.
• Other ad hoc finance duties as required where the business has requested further analysis.

REQUIREMENTS FOR SUCCESS:

• Professional Experience: 5-7 years of experience in collections or a related field and managing a team.
• Leadership: Ability to inspire, motivate, and manage a team to achieve targets.
• Training and Development: Skills in recruiting, training, and developing team members to enhance their performance.
• Performance Management: Setting goals, monitoring progress, and providing feedback to ensure team success.
• Communication: Clear and effective communication with team members, debtors, and other stakeholders.
• Negotiation: Strong negotiation skills to establish repayment plans and resolve disputes.
• Customer Service: Maintaining positive relationships with clients while ensuring timely collections.
• Problem-Solving: Ability to identify issues and develop effective solutions.
• Attention to Detail: Ensuring accuracy in financial records and compliance with regulations.
• Strategic Thinking: Developing and implementing strategies to improve the collections process.
• Regulatory Knowledge: Understanding and adhering to state and federal collections laws.
• Microsoft Office and Customer Resource Management Platforms: Basic working knowledge of ERP platform Microsoft D365 F & O, Excel, Salesforce, and Billtrust.
• Ability to work efficiently in a hybrid office environment. Domestic travel required.

Regular Associate Benefits: New Balance offers a comprehensive traditional benefits package including three options for medical insurance as well as dental, vision, life insurance and 401K. We also proudly offer a slate of more nontraditional perks – opportunities like online learning and development courses, tuition reimbursement, $100 monthly student loan support and various mentorship programs – that encourage our associates to grow personally as they develop professionally. You’ll also enjoy a yearly $1,000 lifestyle reimbursement, 4 weeks of vacations, 12 holidays and generous parental leave, because work-life balance is more than just a buzzword – it’s part of our culture.

Flexible Work Schedule: Our North American hybrid model encourages rich in-person experiences, showcasing our commitment to teamwork and connection, while maintaining flexibility for associates. New Balance Associates currently work in office three days per week (Tuesday, Wednesday, and Thursday). Our offices are fully open, and amenities are available across our North American office locations. To continue our focus on hybrid work we have introduced “Work from Anywhere” (WFA) for four weeks per calendar year.

Equal Opportunity Employer: New Balance provides equal opportunities for all current and prospective associates and takes affirmative action to ensure that employment, training, compensation, transfer, promotion and other terms, conditions and privileges of employment are provided without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, handicap, genetic information and/or status as an Armed Forces service medal veteran, recently separated veteran, qualified disabled veteran or other protected veteran.