Sr. Manager, Credit and Collections
About The Position
Sonova is seeking an experienced, 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 developing efficient, customer-focused processes that support profitable growth. The position oversees credit and collections strategy, develops a high-performing team, manages external service partners, and collaborates with Sales, Marketing, Finance, and other stakeholders to improve performance and business results. The role is based in Aurora, with 5% travel. Sonova describes its work model as team-customized hybrid, intended to balance individual needs and business goals. Employees using remote or hybrid functionality must have internet connectivity of at least 200 Mb/sec download and 10 Mb/sec upload.
Requirements
- Bachelor’s degree or equivalent experience.
- 10 or more years of commercial credit and collections experience, including 5 or more 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 experience coaching teams, managing performance, leading change, and driving accountability.
- Excellent communication, negotiation, conflict-resolution, and stakeholder-management skills.
- Strong analytical and decision-making abilities, including the 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 functionality, internet connectivity of at least 200 Mb/sec download and 10 Mb/sec upload.
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 their performance, KPIs, compliance, contracts, and alignment with the overall 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, Flexible Spending, and Dependent Care Accounts.
- TeleHealth options.
- 401(k) plan with company match.
- Company-paid life and AD&D insurance, with additional supplemental coverage available.
- Company-paid short- and long-term disability coverage, with buy-up options available.
- Accident and hospital indemnity coverage.
- Legal and identity 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 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.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
