The Credit and Collections Specialist is 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. Common responsibilities for a collections specialist include:
Essential Functions:
• Identifying accounts with overdue payments and keeping records of the amount owed and the length of the delinquency
• Locating debtors and contacting them via phone or mail to address their overdue payments and determine the reason for the outstanding debt
• Communicating with the sales department and Operations team to maintain accurate and updated information on client accounts and payments
• Processing customer payments, account adjustments and customer refunds where appropriate
• Reviewing records for accuracy and handling disputes to make sure that account information is entered and maintained appropriately
• Monitor the firm’s accounts receivable and identify overdue accounts.
• Contact customers with overdue accounts and attempt to either collect the overdue amount or negotiate a payment plan to collect it in installments.
• Use credit bureau data, post office information, internet searches and other tools to try to locate customers who have moved or changed phone numbers.
• Maintain records of contacts and attempted contacts with delinquent account customers as well as records of any payments collected from the customer.
• Resolve customer issues and complaints concerning billing.
• Update and maintain client purchase orders
• Submit regular reports on the status of unpaid accounts and any repayment progress.
• Train peers and new hires
• Assist the Finance Department Managers as needed
Desired Qualifications / Skills:
• High School Diploma
• Good listening skills
• Communication skills
• Familiar with the Fair Debt Collection Practices Act (FDCPA) and other laws governing debt collection practices
• Negotiating skills
• Patience and stress management
• Problem-solving skills
• Critical thinking skills
• Customer Service Experience
Physical Demands/ Working Conditions:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
• Must be able to sit for long periods of time
• Required to utilize a computer and keyboard every day
Work Hours:
Expected hours Monday through Friday
8:30 AM – 5:00 PM
Other Duties
Please note, that this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
