Collections Specialist

Collections specialists are responsible for resolving overdue bills and collecting payments from the individuals or businesses responsible for the debt. They must locate those responsible for unpaid bills and set up acceptable terms of repayment to protect the financial assets of their employer.

Key Responsibilities

  • Monitors accounts for compliance with established payment plans and flagged non-compliances
  • Locates debtors and contacting them via phone or mail to address their overdue payments and determine the reason for the outstanding debt
  • Takes actions in order to encourage timely payments
  • Contacts customers to inform on delinquency, encourage on-time payments and set up payment plans that can facilitate good credit
  • Prepares and presents reports on collection activities and progress
  • Supervises assigned accounts to identify unresolved debts
  • Counsels debtors on payment options and arranged installment agreements
  • Collects documents and makes portfolios for collections accounts
  • Responds to client account queries in a timely and professional manner
  • Locates and notifies customers of delinquent accounts by mail, telephone, or personal visits to solicit payment

Job Requirements/Qualifications

  • High school diploma or equivalent qualification required
  • A minimum of 2 years as Collections specialist
  • Proficient with database software and Microsoft Office Suite
  • Familiarity with laws related to debt collection (e.g. FDCPA)
  • Excellent communication and interpersonal skills

Skills needed for this role

Collections Specialists should know how to arrange for debt repayment, advise customers, or answer their questions. They need to be excellent communicators with strong negotiation skills. They need the ability to work through obstacles to get results.The role requires someone with the ability to balance between maintaining trustful relationships and guaranteeing timely payments.

Career Level

1-4 Years Experienced Employee

Job Specializations

Accounting/Finance, General/Cost Accounting