Sr. Manager, Credit and Collections

Sonova Group; Aurora (IL); Hybrid; USD 140,000 - 165,000; Full time

Benefits offered by this job

Medical, dental and vision coverage

401k plan with company match

Paid time off and holidays

Hearing aid discount for employees and

Employee Assistance Program

Job summary

Sonova is seeking an experienced Senior Manager, Credit & Collections to lead credit risk management, accounts receivable and collections. This role protects cash flow, minimizes risk, and partners with Sales, Marketing, Finance and other teams to drive efficiency and growth.

You will build a high-performing team, oversee external partners, develop policies and KPIs, and drive automation. The role offers a hybrid work model, competitive benefits, and a pay range of $140,000 to $165,000 per year

Qualifications

• Bachelor’s degree or equivalent experience required.
• Master’s degree or MBA preferred.
• 10+ years of commercial credit and collections experience including 5+ years of leadership.
• Strong knowledge of credit analysis, accounts receivable, collections practices and financial statement analysis.
• Experience developing credit policies, collection strategies and KPIs.
• Advanced Excel and SAP/Power BI proficiency.

Responsibilities

• Lead end-to-end credit and collections, including approvals and dispute escalation.
• Develop and improve credit policies, procedures and controls.
• Drive process improvements and automation to boost efficiency and customer experience.
• Lead and coach credit and collections team members.
• Manage external service partners and contracts.
• Evaluate customer creditworthiness and monitor portfolio risk.
• Develop collection strategies to improve cash flow and reduce write-offs.
• Collaborate with Sales, Marketing, Finance and other teams on billing issues.
• Prepare reporting on AR performance, aging trends and risk.
• Support month-end close, reserves, audits and compliance requirements.

Skills

Credit risk management

Accounts receivable

Collections

Credit policy development

People leadership

Leadership

Communication

Analytical thinking

Negotiation

Stakeholder management

Education

Bachelor’s Degree or equivalent experience

Master’s degree or MBA preferred

Tools

Excel

SAP

Power BI

GetPaid

Job description

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At Sonova, we envision a world where everyone can enjoy the delight of hearing. This vision inspires us and fuels our commitment to developing innovative solutions that improve hearing health and human connection - from personal audio devices and wireless communication systems to hearing aids and cochlear implants. We're dedicated to providing outstanding customer experiences through our global audiological care services, ensuring that everyone has the opportunity to engage fully with the world around them.

Here you’ll find a diverse range of opportunities that span both consumer and medical solutions and the freedom to shape your career while making an impact on the lives of others. Join us in our mission to create a more connected world, where every voice is heard and every story matters.

Sr. Manager, Credit and Collections

Senior Manager Credit and Collections

Location: Aurora

Travel: 5%

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

In this highly collaborative leadership role, you’ll oversee credit and collections strategy, develop a high-performing team, manage key external partners, and work closely with Sales, Marketing, Finance, and other stakeholders to drive continuous improvement and strong business results.

What You'll Do

• Lead the end-to-end credit and collections function, including credit approvals, account reviews, collections strategy, dispute escalation, etc.
• Develop and continuously improve credit policies, procedures, controls, and operating guidelines to strengthen performance and reduce risk.
• Drive process improvement, simplification, and automation initiatives that enhance internal efficiency and the customer experience.
• Lead, coach, and develop credit and collections team members while establishing clear priorities, expectations, and accountability.
• Manage external service partners, including performance, KPIs, compliance, contracts, and overall credit and collections strategy.
• Evaluate customer creditworthiness, establish appropriate credit limits, and monitor portfolio risk using financial and payment data.
• Develop collection strategies that improve cash flow, reduce overdue receivables, and minimize write-offs while maintaining strong 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 key performance indicators.
• Support month-end close, reserve analysis, audits, internal controls, and compliance requirements.

Qualifications

• Bachelor’s Degree or equivalent experience, Master’s degree or MBA preferred
• 10+ years of commercial credit and collections experience, including 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.
• Proven experience developing credit policies, collection strategies, controls, KPIs, and process improvements.
• Strong leadership skills with demonstrated success coaching teams, managing performance, change management, and driving accountability.
• Excellent communication, negotiation, conflict resolution, and stakeholder management skills.
• Strong analytical and decision-making abilities with the ability to effectively manage confidential and sensitive information.
• Advanced proficiency with Microsoft Excel and Microsoft Office.
• Experience with SAP, GetPaid, and Power BI required.
• Experience driving automation and technology-enabled improvements within credit and collections is preferred.

A minimum of 200Mb/sec download and 10Mb/sec upload speed internet connectivity is required to support any remote/hybrid employee functionality at Sonova

What we offer:

• Medical, dental and vision coverage*
• Health Savings, Health Reimbursement, Flexible Spending/Dependent Care Accounts
• TeleHealth options
• 401k plan with company match*
• Company paid life/ad&d insurance
• Company paid Short/Long-Term Disability coverage (STD/LTD)
• Accident/Hospital Indemnity coverage
• Legal/ID Theft Assistance
• PTO (or sick and vacation time), floating Diversity Day, & paid holidays*
• Paid parental bonding leave
• Employee Assistance Program (24/7 mental health support hotline, 5 company paid counseling sessions and more)
• Robust Internal Career Growth opportunities
• Hearing aid discount for employees and family
• Internal social recognition platform

This role's pay range is between: $140,000-$165,000 annually. This role is alsobonus eligible.

At Sonova, we prioritize the well-being of our employees and foster an inclusive environment that promotes engagement and collaboration. Our team-customized hybrid work model empowers teams to balance individual needs with business goals, offering flexibility and individualized time management. We recognize the importance of life outside of work and strive to create a supportive and motivating workplace where innovation thrives.

Sonova is an equal opportunity employer.

We team up. We grow talent. We collaborate with people of diverse backgrounds to win with the best team in the market place. We guarantee every person equal treatment in regard to employment and opportunity for employment, regardless of a candidate’s ethnic or national origin, religion, sexual orientation or marital status, gender, genetic identity, age, disability or any other legally protected status.