Running Thin: The Search for Talented Collection Pros

One last trend which is worth mentioning and is specific to the debt buying industry: we have seen a lot of experienced and connected salespeople go out on their own and act as debt brokers. If they sell independently, the thinking seems to suggest they can represent numerous companies and not be limited to the services provided solely by their employer.

Operations Management

Because receivables management firms are offering a greater variety of solutions to creditors, whether it is traditional contingency collections, debt purchasing, or master servicing agreements, they are all pulling operations expertise from the same pool of talent. We have seen operations professionals become more analytical while not losing any of the traditional “floor general” capabilities of the past. We have also seen a trend toward client relations, with senior-level operations people needing to have strong presentation and relationship management abilities.

Analytics and Accounting

With profit margins tightening, today’s accounts receivable management firm must make sure they have the analytics in place to ensure operations are efficient. Accounting, too, has to make sure that the paper is profitable. Forecasting results accurately has never been more important than right now.

As any industry undergoes change it inevitably effects human capital. Evidence of this can be seen on the issuer side of credit. A couple of years ago when all of the major banks were merging, there was an influx of available talent, available positions lessened and compensation for specific skill sets were compressed. The receivable management industry is officially on the other side of the pendulum now. If you have a critical need, you’re not alone!

John Fiumano is CEO of Executive Alliance, a strategic partner of Kaulkin Ginsberg, and a leading national recruitment firm that specializes in the debt collection and accounts receivable management industry. Contact John at hq@kaulkin.com.