Collections Specialist

A Collections Specialist manages and oversees the collection of outstanding payments from customers or clients. They work within a company's accounts receivable department to ensure that invoices are paid on time and help maintain the financial health of the organization. 

Collection Specialists contact customers with overdue accounts via phone, email, or mail to remind them of their payment obligations and negotiate payment plans if necessary. They also review accounts to identify delinquent payments and take appropriate action to recover funds.

This professional keeps detailed records of all communications and transactions, prepares reports on the status of collections, and works closely with other departments, such as accounting and customer service, to resolve any issues that may affect payments. In some cases, they can initiate legal action or work with collection agencies to recover debts.

Join our company as a Collections Specialist and manage and oversee the collection of outstanding payments!

As the key driver of our accounts receivable operations, you'll expertly navigate the complexities of debt recovery, leveraging your negotiation skills and financial acumen to minimize bad debt and maximize revenue.

Collaborating closely with customers, accounting teams, and other departments, you'll develop effective collection strategies, set clear payment guidelines, and oversee the entire collection process to ensure timely and successful resolution of overdue accounts!

• Handle a high volume of inbound and outbound collection calls.
• Negotiate payment plans and settlements with customers in a professional manner.
• Monitor accounts to identify delinquent payments and take necessary actions.
• Meet monthly collection targets while maintaining high customer satisfaction.
• Analyze delinquent accounts and recommend suitable actions to upper management.
• Maintain accurate and up-to-date records of all collection activities.
• Collaborate with other departments to resolve customer billing issues.
• Assist in developing strategies to improve the overall collections process.
• Provide regular updates on collection progress to the management team.
• Utilize collection software systems to record and track payment activities.
• Send collection letters and follow up with customers via email or phone.
• Investigate and resolve payment discrepancies.
• Adhere to all state and federal laws governing debt collections.
• Escalate collection matters to the appropriate department if needed.
• Liaise with legal counsel on complex collection cases if required.

• Increased on-time payments within the first quarter.
• Reduced average days sales outstanding (DSO) significantly.
• Achieved a high collection rate on outstanding balances.
• Improved customer retention rate through effective debt management strategies.
• Decreased bad debt write-offs annually.
• Enhanced collection efficiency by implementing process improvements.
• Generated weekly/monthly reports on collection performance metrics.

• Bachelor's degree in Finance, Business Administration, or related field.
• Proven experience working in debt collections or a similar role.
• Strong negotiation and communication skills.
• Knowledge of collection laws and regulations.
• Goal-oriented with a focus on achieving targets.
• Strong problem-solving ability and analytical mindset.
• Ability to work under pressure and meet tight deadlines.
• Detail-oriented with excellent organizational skills.
• Exceptional interpersonal skills and ability to work effectively in a team environment.
• Proficient in using collection software and MS Office.