Collection Specialist
Job Description Template

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Job Overview

We are looking to hire a Collection Specialist to be a part of our Accounting Department. You will be responsible for collecting and maintaining a record of all outstanding payments. Making payment arrangements and advising clients on repayment plans are also a part of your responsibilities. Furthermore, you should be able to maintain an accurate record of all the transactions. 

You should also be able to investigate payment history and contact clients via telephone or email. Besides, you should be able to negotiate settlements and process any customer refunds. You will also be responsible for granting additional payment periods to debtors and determining easy collection methods. Your responsibility also entails abiding by the federal and state regulations. 

If you can undertake all these responsibilities while offering excellent customer service, then write to us today!

Responsibilities

  • Collecting and maintaining a record of all overdue payments

  • Maintaining an accurate record of the amount payable and default period

  • Contacting debtors via telephone or email

  • Investigating the reason for delinquency

  • Encouraging and arranging plans for timely payments

  • Keeping records of all collection activities

  • Researching the credit behaviour of all debtors

  • Coordinating with the Accountant to maintain and update payment records

  • Processing any refunds

  • Monitoring overdue accounts on a regular basis

  • Addressing any customer queries

  • Reviewing and undertaking any account alterations

  • Negotiating settlements 

  • Undertaking all collection activities in accordance with the collection policy

  • Liaising between the creditors and the company

  • Granting additional payment period and approving/rejecting any partial payment requests

  • Communicating with insurance agencies to streamline collection procedures/policies

  • Recommending collection improvement measures

  • Undertaking administrative duties like faxing documents, balance write offs and processing memos

  • Adhering to the state and company regulations

  • Updating accounts receivable status

  • Preparing and presenting collection reports during audit

  • Reviewing all expired or inactive accounts 

Requirements

  • Diploma or degree in any relevant subject

  • Minimum 2 years work experience as a Collection Specialist or similar role

  • Excellent negotiation skills

  • Strong problem solving and analytical ability 

  • Proficiency in MS Office tools and databases

  • Excellent oral and written communication skills

  • Familiarity with collection laws and policies

  • Ability to undertake administrative duties

  • Ability to work under pressure and meet deadlines

  • Familiarity with billing procedures

  • Knowledge of accounting principles and softwares like QuickBooks and Xero

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