Collection Specialist

As a Collection Specialist, you will be responsible for managing and optimizing the company's accounts receivable by ensuring timely collection of outstanding debts. This role requires a proactive and results-oriented approach to minimize bad debt losses, maintain positive customer relationships, and contribute to overall financial health.

Responsibilities:

• Contact customers with overdue payments via phone, email, and other communication channels.
• Negotiate payment plans and settlements to recover outstanding balances.
• Review and reconcile customer accounts to identify discrepancies and resolve payment issues.
• Collaborate with internal teams to address billing discrepancies and ensure accurate invoicing.
• Maintain regular communication with customers to establish rapport and address queries related to outstanding payments.
• Provide clear and concise information on payment terms and consequences of non-payment.
• Monitor and track payment arrangements to ensure compliance.
• Identify and escalate high-risk accounts to management for further action.
• Maintain accurate and up-to-date records of customer interactions, payment agreements, and correspondence.
• Prepare and submit reports on collection activities and account status.
• Assess the creditworthiness of customers and recommend credit limits based on payment history and financial stability.
• Stay informed about relevant laws and regulations related to debt collection practices.
• Ensure compliance with legal requirements and ethical standards in all collection activities.
• Work collaboratively with sales and customer service teams to address customer concerns and facilitate timely payments.
• Provide feedback to internal teams regarding customer payment patterns and potential risks.

• High school diploma or equivalent; additional education in finance or a related field is a plus.
• Proven experience as a Collection Specialist or in a similar role.
• Strong negotiation and communication skills.
• Familiarity with debt collection laws and regulations.
• Attention to detail and accuracy in maintaining records.
• Ability to work independently and prioritize tasks effectively.
• Proficient in using collection software and Microsoft Office applications.