Job Description
Job DescriptionCollections SpecialistAbout the Role
We are seeking a dedicated and experienced Full-time Collections Specialist to join our dynamic team. The ideal candidate will be responsible for managing and executing collection activities to ensure timely payment of outstanding accounts. This role requires a detail-oriented individual with excellent communication skills and a strong understanding of collections processes, billing procedures, and payment processing.
Key Responsibilities
- Manage a portfolio of delinquent accounts and implement effective collection strategies to recover outstanding balances
- Conduct thorough account reviews and analyze customer payment histories to identify potential risks and opportunities
- Initiate and maintain regular contact with customers via phone, email, and written correspondence to resolve payment issues
- Negotiate payment arrangements and settlement agreements with customers, ensuring compliance with company policies and legal regulations
- Process payments accurately and efficiently, updating account information in real-time
- Collaborate with internal departments, including Sales, Customer Service, and Legal, to address complex account issues and disputes
- Maintain detailed records of all collection activities, including customer interactions, payment arrangements, and account status updates
- Generate and analyze reports on collection performance, identifying trends and areas for improvement
- Stay up-to-date with relevant laws, regulations, and industry best practices in collections and credit management
- Assist in the development and implementation of new collection strategies and process improvements
- Participate in training sessions and share knowledge with team members to enhance overall department performance
QualificationsRequired:
- Bachelor's degree in Finance, Accounting, Business Administration, or a related field
- Minimum of 3 years of experience in collections, accounts receivable, or a similar role within the legal or insurance industries
- Proficiency in collections software, billing systems, and payment processing platforms
- Strong understanding of collections laws, regulations, and industry best practices
- Excellent verbal and written communication skills, with the ability to interact professionally with customers and internal stakeholders
- Demonstrated ability to negotiate effectively and resolve conflicts
- Strong analytical and problem-solving skills
- Proficiency in Microsoft Office Suite, particularly Excel for data analysis and reporting
- Ability to work independently and as part of a team in a fast-paced environment
- High level of attention to detail and accuracy in data entry and financial transactions
Preferred:
- Professional certification such as Certified Commercial Collector (CCC) or Credit Business Associate (CBA)
- Experience with enterprise resource planning (ERP) systems
- Knowledge of legal billing and collection practices
Key Competencies
- Customer Focus: Ability to maintain a professional and courteous demeanor while dealing with challenging customer situations
- Communication: Excellent verbal and written communication skills, with the ability to adapt communication style to different audiences
- Negotiation: Strong negotiation skills to reach mut