Sr. Manager, Credit and Collections

Sonova AG • Aurora, IL

10d • $140,000 - $165,000 • Hybrid

About The Position

Sonova is seeking an experienced and strategic Senior Manager, Credit and Collections to lead credit risk management, accounts receivable, and collections operations. The role is responsible for protecting cash flow, minimizing credit risk and bad debt exposure, and creating efficient, customer-focused processes that support profitable growth.

This collaborative leadership role oversees credit and collections strategy, develops a high-performing team, manages external service partners, and works with Sales, Marketing, Finance, and other stakeholders to drive continuous improvement and business results. The position is based in Aurora and involves 5% travel. Sonova describes its team-customized hybrid work model as balancing individual needs with business goals. Remote or hybrid work requires internet connectivity of at least 200 Mbps download and 10 Mbps upload.

The annual pay range is $140,000–$165,000, and the role is bonus eligible. Benefits and plan offerings may depend on the group and company location.

Requirements

• Bachelor’s degree or equivalent experience.
• At least 10 years of commercial credit and collections experience, including at least 5 years of people leadership or team management experience.
• Strong knowledge of commercial credit analysis, accounts receivable, collections practices, customer risk assessment, and financial statement analysis.
• Demonstrated experience developing credit policies, collection strategies, controls, KPIs, and process improvements.
• Strong leadership skills, including coaching teams, managing performance, change management, and driving accountability.
• Excellent communication, negotiation, conflict resolution, and stakeholder management skills.
• Strong analytical and decision-making abilities and ability to manage confidential and sensitive information effectively.
• Advanced proficiency with Microsoft Excel and Microsoft Office.
• Experience with SAP, GetPaid, and Power BI.
• For remote or hybrid employee functionality, internet connectivity of at least 200 Mbps download and 10 Mbps upload is required.

Nice To Haves

• Master’s degree or MBA.
• Experience driving automation and technology-enabled improvements within credit and collections.

Responsibilities

• Lead the end-to-end credit and collections function, including credit approvals, account reviews, collections strategy, and dispute escalation.
• Develop and continuously improve credit policies, procedures, controls, and operating guidelines to strengthen performance and reduce risk.
• Drive process improvement, simplification, and automation initiatives to improve internal efficiency and customer experience.
• Lead, coach, and develop credit and collections team members, setting priorities, expectations, and accountability.
• Manage external service partners, including performance, KPIs, compliance, contracts, and credit and collections strategy.
• Evaluate customer creditworthiness, establish appropriate credit limits, and monitor portfolio risk using financial and payment data.
• Develop collection strategies to improve cash flow, reduce overdue receivables, and minimize write-offs while maintaining customer relationships.
• Partner with Sales, Marketing, Finance, and other teams to resolve complex billing disputes, deductions, and customer payment issues.
• Prepare and present reporting on accounts receivable performance, aging trends, credit risk, collections activity, bad debt exposure, and KPIs.
• Support month-end close, reserve analysis, audits, internal controls, and compliance requirements.

Benefits

• Medical, dental, and vision coverage.
• Health Savings, Health Reimbursement, and Flexible Spending/Dependent Care Accounts.
• TeleHealth options.
• 401(k) plan with company match.
• Company-paid life and AD&D insurance; additional supplemental life and AD&D coverage available.
• Company-paid short- and long-term disability coverage; STD/LTD buy-ups available.
• Accident and Hospital Indemnity coverage.
• Legal and ID Theft Assistance.
• PTO or sick and vacation time, floating Diversity Day, and paid holidays.
• Paid parental bonding leave.
• Employee Assistance Program, including 24/7 mental health support hotline and five company-paid counseling sessions.
• Internal career growth opportunities.
• Tuition reimbursement.
• Hearing aid discount for employees and family.
• Internal social recognition platform.
• Bonus eligibility.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager