OUR SERVICES: COLLECTIONS

Credit and Collection Compliance Professional

What does a Credit and Collection Compliance Professional do?

A Credit and Collection Compliance Professional ensures that credit and collection activities within an organization comply with relevant laws, regulations, and industry standards. They develop and implement policies and procedures to mitigate compliance risks, conduct audits and assessments to identify areas of non-compliance, and provide training to staff on regulatory requirements. Credit and Collection Compliance Professionals also monitor changes in laws and regulations, assess their impact on credit and collection practices, and recommend adjustments as needed to ensure ongoing compliance and minimize legal and financial risks for the organization.

    Tier 1

    .

    		 1 to 2
    years of
    experience

    Tier 2

    .

    		 3 to 5
    years of
    experience

    Tier 3

    .

    		 > 5
    years of
    experience

    ABOUT THE ROLE

    Roles and Responsibilities

    • Developing and implementing policies and procedures to ensure compliance with laws, regulations, and industry standards in credit and collection activities.
    • Conducting audits and assessments to identify areas of non-compliance.
    • Providing training to staff on regulatory requirements.
    • Monitoring changes in laws and regulations and assessing their impact on credit and collection practices.
    • Recommending adjustments to ensure ongoing compliance.
    • Minimizing legal and financial risks for the organization.

    Day-to-Day Duties

    • Reviewing credit and collection policies and procedures.
    • Conducting compliance audits and assessments.
    • Providing guidance on regulatory requirements.
    • Monitoring changes in laws and regulations.
    • Recommending adjustments to ensure compliance.

    SKILLS AND TOOLS

    Soft Skills

    • Communication skills
    • Attention to detail
    • Analytical thinking
    • Problem-solving abilities
    • Time management
    • Adaptability
    • Integrity
    • Diplomacy

    Hard Skills

    • Knowledge of credit and collection laws and regulations
    • Compliance management
    • Audit and assessment skills
    • Policy development
    • Training delivery
    • Legal research

    Tools

    LogicManager, Compliance 360, or NAVEX Global 70%
    LexisNexis Regulatory Compliance, Thomson Reuters Regulatory Intelligence, AnswerConnect 90%
    SharePoint, DocuWare, or Laserfiche 80%

    Education

    Common Educational Backgrounds and Careers for this Role:

    • Public Accounting
    • Business administration
    • Forensic Finance
    • Legal Studies
    • Compliance Management
    • Risk Management
    • Economics
    • Business Law
    • Credit Management
    • Banking and Finance

    CANDIDATES TESTS

    Tests & Evaluations for Candidates

    Financial Modeling Test

    Valuation models

    8/10

    For financial analysts, M&A consultants, and valuation specialists.

    Valuation Principles Test

    Knowledge of valuation methods

    9/10

    For corporate finance, investment banking, and strategic advisory roles.

    Advanced Excel

    Proficiency in financial models

    8/10

    For candidates handling complex data-driven financial assessments.