Credit And Collections Analyst Vs Account Representative

The differences between credit and collections analysts and account representatives can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a credit and collections analyst and an account representative. Additionally, a credit and collections analyst has an average salary of $49,262, which is higher than the $36,977 average annual salary of an account representative.

The top three skills for a credit and collections analyst include customer service, credit limits and past due accounts. The most important skills for an account representative are customer service, patients, and patient accounts.

Credit and collections analyst vs account representative overview

	Credit And Collections Analyst	Account Representative
Yearly Salary	$49,262	$36,977
Hourly rate	$23.68	$17.78
Growth Rate	-8%	-8%
Number Of Jobs	18,105	183,446
Job Satisfaction	-	-
Most Common Degree	Bachelor's Degree, 52%	Bachelor's Degree, 52%
Average Age	46	46
Years Of Experience	12	12

What does a Credit And Collections Analyst do?

A credit and collections analyst is responsible for evaluating clients' account statements and financial transactions, analyzing their credit scores, and creating payment plans for outstanding debts. Credit and collections analysts assist in handling account discrepancies and financial disputes, reaching out to financial institutions and clients to collect documents and necessary data for resolution processes. They also update the clients' information on the database, analyze the terms of service of contracts, and respond to the customers' inquiries and concerns regarding their account status.

What does an account representative do?

Account representatives are employees who manage client accounts and act as the main contact of the clients they are handling. They maintain existing accounts by updating client details regularly. They also check up on clients to see if they are still satisfied with the products or services of the company. They also create new accounts by welcoming new clients and assisting them in their needs. Account representatives manage client inquiries and process client requests. They also address complaints and ensure that any challenges are mitigated and that clients remain with the company.

Credit and collections analyst vs account representative salary

Credit and collections analysts and account representatives have different pay scales, as shown below.

	Credit And Collections Analyst	Account Representative
Average Salary	$49,262	$36,977
Salary Range	Between $35,000 And $69,000	Between $26,000 And $51,000
Highest Paying City	Bridgewater, NJ	Los Angeles, CA
Highest Paying State	Connecticut	California
Best Paying Company	Vishay	New Relic
Best Paying Industry	Finance	Finance

Differences between credit and collections analyst and account representative education

There are a few differences between a credit and collections analyst and an account representative in terms of educational background:

	Credit And Collections Analyst	Account Representative
Most Common Degree	Bachelor's Degree, 52%	Bachelor's Degree, 52%
Most Common Major	Business	Business
Most Common College	-	-

Credit and collections analyst vs account representative demographics

Here are the differences between credit and collections analysts' and account representatives' demographics:

	Credit And Collections Analyst	Account Representative
Average Age	46	46
Gender Ratio	Male, 30.0% Female, 70.0%	Male, 33.6% Female, 66.4%
Race Ratio	Black or African American, 12.0% Unknown, 4.0% Hispanic or Latino, 20.5% Asian, 3.6% White, 59.4% American Indian and Alaska Native, 0.5%	Black or African American, 12.5% Unknown, 4.2% Hispanic or Latino, 17.3% Asian, 3.9% White, 61.6% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between credit and collections analyst and account representative duties and responsibilities

Credit And Collections Analyst Example Responsibilities.

Represent and lead the collections' team during executive management weekly conference calls providing updates on the delinquent A/R reports.
Identify and submit financial adjustments using SOX controls and GAAP accounting principles, increasing monthly AR collection.
Develop and maintain detailed spreadsheets on all UCC activity for the branch for tracking purposes and follow-up.
Establish the UCC filing template and liaise with agent bank to get UCC filing in due time.
Oversee the DSO level and negotiate account settlements, payment plans, and attend small claims court for small businesses.
Attend regular credit meetings with order management, sales, treasury, and revenue recognition groups to resolve business issues.

Account Representative Example Responsibilities.

Manage all billing accounts including Medicare/Medicaid, HMO and individual accounts.
Manage the daily correspondence from assign practices with keeping doctor/patient confidentiality under consideration along with HIPPA regulations.
Manage and maintain an internal database system to generate reports and produce accurate account information for patients and insurance companies.
Educate physicians to use current ICD-9 diagnostic coding and preparation to begin ICD-10 coding requirements.
Analyze health care insurance/litigation patient account files to resolve outstanding and delinquent accounts due to the healthcare client.
Promote ThermoCool SmartTouch ablation catheter device to electrophysiologists.

Credit and collections analyst vs account representative skills

Common Credit And Collections Analyst Skills

Customer Service, 18%
Credit Limits, 5%
Past Due Accounts, 5%
Delinquent Accounts, 4%
Financial Statements, 4%
Credit Card Payments, 3%

Common Account Representative Skills

Customer Service, 21%
Patients, 18%
Patient Accounts, 5%
Data Entry, 3%
Medicaid, 3%
Customer Satisfaction, 3%

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Credit And Collections Analyst
Credit And Collections Analyst vs Account Representative

Updated January 8, 2025

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