Collections Specialist Job Description Template
A Collections Specialist is responsible for working with customers to collect overdue payments. This may involve sending letters and making phone calls to customers. The Collections Specialist will work with the customer to set up a payment plan, if necessary. They will also keep track of payments and update the account information as necessary.
Collections Specialist Job Responsibilities
- Contact customers to discuss past due accounts
- Make payment arrangements with customers
- Negotiate settlements with customers
- Prepare account for legal action
- Refer accounts to outside collection agencies
- Monitor customer account activity and update account status
- Report customer account information to management
Objectives
- To locate and notify customers of delinquent accounts by telephone in order to secure payment.
- To maintain up-to-date records of customer account status.
- To investigate and resolve customer complaints.
- To process payments on delinquent accounts.
- To refer cases of extreme delinquency to appropriate legal channels.
Collections Specialist Job Skills & Qualifications Needed
- Bachelor's degree in business, finance, or a related field
- At least 2 years of experience working in collections or a related field
- Strong communication and negotiation skills
- Ability to work independently and take initiative
- Detail oriented and organized
- Proficient in Microsoft Office