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Title
Text copied to clipboard!Collection Specialist
Description
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We are looking for a detail-oriented and proactive Collection Specialist to join our finance team. The ideal candidate will be responsible for managing and collecting outstanding accounts receivable from clients and customers. This role requires excellent communication skills, a strong understanding of billing procedures, and the ability to work independently to resolve payment issues in a timely and professional manner.
As a Collection Specialist, you will play a critical role in maintaining the financial health of the organization by ensuring timely payments and minimizing bad debt. You will be expected to contact customers via phone, email, and written correspondence to follow up on overdue invoices, negotiate payment plans, and escalate unresolved issues when necessary. You will also collaborate closely with the sales and customer service teams to resolve disputes and ensure customer satisfaction.
In addition to collection activities, you will be responsible for maintaining accurate records of all communications and transactions, preparing regular reports on collection status, and recommending accounts for further action when appropriate. You should be comfortable working with accounting software and spreadsheets, and have a strong attention to detail to ensure data accuracy.
The successful candidate will have a background in finance, accounting, or a related field, and at least 2 years of experience in collections or accounts receivable. Strong problem-solving skills, persistence, and the ability to handle difficult conversations with professionalism are essential for this role.
If you are a motivated individual with a passion for finance and a knack for negotiation, we encourage you to apply and become a key contributor to our financial operations.
Responsibilities
Text copied to clipboard!- Contact customers to collect outstanding payments
- Negotiate payment plans and terms
- Maintain accurate records of collection activities
- Resolve billing disputes and discrepancies
- Collaborate with internal departments to resolve issues
- Monitor aging reports and prioritize collection efforts
- Prepare and submit regular collection reports
- Recommend accounts for legal or external collection action
- Ensure compliance with company policies and regulations
- Respond to customer inquiries regarding invoices and payments
Requirements
Text copied to clipboard!- Proven experience as a Collection Specialist or similar role
- Familiarity with billing procedures and collection techniques
- Excellent communication and negotiation skills
- Strong attention to detail and organizational skills
- Ability to work independently and meet deadlines
- Proficiency in MS Office and accounting software
- High school diploma or equivalent; degree in finance is a plus
- Knowledge of relevant legal requirements and regulations
- Ability to handle sensitive information with confidentiality
- Strong problem-solving and analytical skills
Potential interview questions
Text copied to clipboard!- How many years of experience do you have in collections?
- Are you familiar with any accounting or billing software?
- Can you describe a time you successfully negotiated a payment plan?
- How do you handle difficult or uncooperative customers?
- What steps do you take to ensure accurate record-keeping?
- Have you ever recommended an account for legal action? Why?
- How do you prioritize your collection efforts?
- What strategies do you use to meet collection targets?
- Are you comfortable working independently?
- How do you stay updated on relevant laws and regulations?
