Job Title: Collections Specialist

Experience: 3–5 Years

Employment Type: Full-time

Role Summar

The Collections Specialist is responsible for ensuring outstanding balances are collected in a timely and professional manner. This role requires strong communication, negotiation, analytical, and problem-solving skills. The individual must manage multiple priorities, work collaboratively across teams, and maintain compliance with collection laws and company standards.

Responsibilities

• Contact customers with overdue accounts to remind them of outstanding balances and negotiate payment arrangements.
• Resolve disputes related to outstanding balances by coordinating with customers, internal departments, or external parties.
• Develop and implement collection strategies aligned with the company’s financial goals.
• Analyze account data to identify trends and recommend improvements to collection performance.
• Maintain accurate and complete records of all customer interactions, including call notes, payment commitments, and dispute details.
• Ensure proper documentation of processes, standards, and changes through formal change management procedures.
• Escalate complex or sensitive issues to senior team members or appropriate departments when necessary.
• Maintain accurate, real-time timesheets.
• Collaborate with internal departments to ensure collections processes are aligned with overall business operations.
• Maintain clear and consistent communication with clients and colleagues.
• Provide timely responses and guidance to client inquiries.
• Participate actively in team huddles, L10 meetings, one-on-one meetings, training sessions, and other required team engagements.
• Maintain in-depth knowledge of the company’s products and services.
• Ensure all work aligns with client standards, service expectations, and compliance requirements.
• Contribute feedback to improve processes and enhance client satisfaction.
• Support team members as required and perform additional duties as assigned.

Performance will be measured through key KPIs, including but not limited to:
Collection Effectiveness Index (CEI), Days Sales Outstanding (DSO), Collection Rate, Aging of Receivables, Average Collection Period, Call Quality and Productivity, Promise-to-Pay Rate, Bad Debt Ratio, Aging Bucket Improvement, Collection Expense Ratio, Customer Satisfaction, Compliance Adherence, and Reduction in Delinquency Rate.

Requirements

• 3-5 experience in collections, accounts receivable, credit control, or customer account management preferred.
• Familiarity with collections laws, regulations, and ethical practices.
• Strong verbal and written communication skills.
• Ability to negotiate payment plans and secure commitments effectively.
• Strong active listening and conflict resolution skills.
• Analytical and problem-solving abilities to assess accounts and determine recovery strategies.
• Strong organizational and time management skills with the ability to manage multiple priorities.
• High level of resilience and persistence when handling challenging customer interactions.
• Strong attention to detail in reviewing account information and maintaining documentation accuracy.
• Basic financial acumen, including understanding of credit terms, payment cycles, interest calculations, and cash flow impact.
• Ability to analyze collection data and identify performance trends.
• Empathy and customer-service orientation while maintaining professionalism.
• Proficiency in collections software, CRM systems, and other relevant computer applications.