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Director Of Collections Jobs in Elgin, IL (NOW HIRING)

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Director of Finance

Elk Grove Village, IL · Remote

As a trusted partner to leadership, the Director of Finance will have a meaningful voice in shaping ... Manage customer billing, payables, and vendor relationships, addressing past-due collections.

Wje

Director of Finance

Northbrook, IL · On-site

WJE is seeking a Director of Finance with exceptional integrity, soundjudgment, and a collaborative ... collections performance * Provide functional oversight of the Workday financial system ...

WJE

Director of Finance

Northbrook, IL · On-site

$116 - $193/hr

## Director of FinanceApplylocations: Northbrook, ILtime type: Full timeposted on: Posted 18 Days ... collections performance* Provide functional oversight of the Workday financial system ...

Balance Health

Insurance Collector

Chicago, IL · On-site

Assists collections team with identification and resolution of any material issues involving ... The Director of Human Resources in conjunction with a medical review (and, if necessary, other ...

Balance Health

Insurance Collector

Chicago, IL · On-site +1

Assists collections team with identification and resolution of any material issues involving ... The Director of Human Resources in conjunction with a medical review (and, if necessary, other ...

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All JobsOf Collections JobsDirector Of Collections JobsDirector Of Collections Jobs in Elgin, IL

Director Of Collections information

See Elgin, IL salary details

$56.3K

$100K

$162.1K

How much do director of collections jobs pay per year?

As of Aug 26, 2026, the average yearly pay for director of collections in Elgin, IL is $100,009.00, according to ZipRecruiter salary data. Most workers in this role earn between $79,100.00 and $109,200.00 per year, depending on experience, location, and employer.

What does a director of collections do?

A Director of Collections oversees the strategy, management, and performance of a company's collections department. They are responsible for developing and implementing policies to ensure the efficient recovery of outstanding debts while maintaining positive relationships with clients. This role typically involves leading a team of collections professionals, analyzing collection data, ensuring compliance with legal regulations, and collaborating with other departments to improve collection processes. The Director of Collections also establishes targets and monitors key performance indicators to optimize the department's effectiveness.

What are the key skills and qualifications needed to thrive as a director of collections?

To thrive as a Director of Collections, you need expertise in collections management, financial analysis, and compliance, often supported by a degree in finance or business and several years of supervisory experience. Familiarity with collection management software, CRM systems, and relevant legal regulations such as the Fair Debt Collection Practices Act is essential. Strong leadership, negotiation, and communication skills are critical for motivating teams and resolving complex account issues. These skills and qualifications ensure effective debt recovery, risk mitigation, and compliance while maintaining positive client relationships.

What are the primary challenges a director of collections faces when managing a large team?

A Director of Collections often encounters challenges such as motivating a diverse team to meet collection targets, implementing effective strategies for recovering overdue accounts, and ensuring compliance with all relevant regulations. Balancing the need for high collection rates with maintaining positive customer relationships is another common challenge. Additionally, directors must stay updated with industry trends and technology to optimize collection processes while providing ongoing training and support to their staff.

What is the difference between Director Of Collections vs Collections Manager?

AspectDirector Of CollectionsCollections Manager
Required CredentialsBachelor's degree, experience in collections, leadership skillsBachelor's degree, experience in collections, team management
Work EnvironmentStrategic planning, policy development, senior managementDay-to-day collections operations, team supervision
Employer & Industry UsageFinancial institutions, large corporationsBanks, credit companies, healthcare providers
Common Search & ComparisonHigher-level strategic roleOperational management role

The main difference between a Director Of Collections and a Collections Manager lies in their scope and responsibilities. The Director focuses on strategic planning, policy development, and overseeing the entire collections department at a senior level. In contrast, the Collections Manager handles daily operations, manages collections teams, and ensures targets are met. Both roles require relevant experience and credentials, but the Director's role is more strategic and leadership-oriented, while the Manager's role is more operational.

What are popular job titles related to Director Of Collections jobs in Elgin, IL?

For Director Of Collections jobs in Elgin, IL, the most frequently searched job titles are:

What job categories do people searching Director Of Collections jobs in Elgin, IL look for?

The top searched job categories for Director Of Collections jobs in Elgin, IL are:

What cities near Elgin, IL are hiring for Director Of Collections jobs?

Cities near Elgin, IL with the most Director Of Collections job openings:

Director Of Collections jobs near you
Infographic showing various Director Of Collections job openings in Elgin, IL as of August 2026, with employment types broken down into 2% As Needed, 79% Full Time, 16% Part Time, 1% Temporary, and 2% Contract. Highlights an 91% Physical, 3% Hybrid, and 6% Remote job distribution, with an average salary of $100,009 per year, or $48.1 per hour.

Director of Credit and Collections

Fortune International, LLC

Bensenville, IL • On-site

$130K - $160K/yr

Full-time

Re-posted 5 days ago

Job description

Summary of Position:

The Director, Credit and Collections serves as the enterprise leader responsible for credit risk management, collections strategy, and cash optimization for a high-volume, low-margin, $1B+ foodservice distribution business. This role owns the company’s credit governance framework, drives disciplined collections execution, and partners cross-functionally to balance profitable growth with prudent risk management, improved cash flow, and reduced days sales outstanding (DSO). The Director oversees the corporate accounts receivable portfolio, leads scalable credit and collections operations, and ensures proactive identification and mitigation of customer credit risk.


Duties & Responsibilities:

  • Own enterprise-wide credit and collections strategy to optimize DSO, cash flow, and working capital performance
  • Establish, approve, and enforce customer credit policies, terms, limits, escalations, credit holds, and revocations.
  • Provide executive oversight of the corporate A/R portfolio, including high-risk, high-dollar, and strategic customer accounts.
  • Partner with Sales leadership to align credit decisions with growth objectives while protecting enterprise cash and margin.
  • Collaborate with Finance to forecast bad debt exposure, reserves, and customer default risk.
  • Lead and develop a multi-level credit and collections team, setting performance expectations, productivity goals, and succession plans.
  • Own collection performance outcomes, including aging bucket reduction, dispute resolution, and recovery strategies.
  • Serve as the senior point of contact for complex customer negotiations, escalations, and executive-level discussions.
  • Oversee litigation strategy, settlements, and recovery actions in partnership with Legal and external counsel.
  • Manage relationships and performance of third-party collection agencies and asset recovery partners.
  • Leverage systems and analytics (ERP, AR automation, CRM) to drive efficiency, transparency, and risk insight.
  • Report portfolio risk, performance trends, and actionable recommendations to senior leadership.
  • Lead change initiatives related to policy updates, systems implementations, and organizational scaling.


Success Measures (12-18 Months):

  • Measurable reduction in DSO and past-due A/R exposure
  • Improved accuracy of bad debt forecasting and reserve planning.
  • Strong alignment with Sales on credit discipline and customer risk evaluation.
  • Scalable credit governance and collections process supporting growth.
  • A high-performing, well-developed credit and collections leadership team.


Minimum Requirements:

  • Education – Bachelor’s degree in Finance, Accounting, Business, or a related discipline required; advanced degree a plus.
  • 10+ years of progressive credit and collections experience in a high-volume distribution, foodservice, logistics, or transportation environment.
  • 5+ years of senior leadership or manager-of-managers experience.
  • Deep knowledge of credit risk assessment, collections strategy, litigation processes, and customer negotiations.
  • Strong analytical capability with experience managing large datasets across multiple systems.
  • Proven ability to influence cross-functional leaders and drive enterprise-level outcomes.
  • Experience with ERP and A/R automation platforms (Business Central, NetSuite, YayPay, VersaPay, Salesforce preferred).


Fortune Fish & Gourmet is an equal opportunity employer.

Our Mission is to elevate meals and lives by uniting unmatched product quality and selection with responsible sourcing, faithful stewardship, and unparalleled commitment to our customers’ and team members’ success.

Our Vision is a world in which we can all:

Do good. Be great. Scale excellence.

Apply