Collections Specialist Job Description
Job summary 1
The Collections Specialist is responsible for performing collection activities associated with later-stage delinquent member accounts, including credit cards, lines of credit, secured loans, signature loans, real estate loans, home equity lines of credit, and commercial loans, in compliance with all policies and procedures, federal and state laws, rules and regulations. Methods to accomplish this include but are not limited to phone calls, collection letters, and in-person interviews. Recommends further action on accounts as deemed necessary including but not limited to repossession, legal action, foreclosure, and referral to a collection agency. May serve as the liaison for repossession companies.
Duties & Responsibilities 1
Requirements & Skills 1
Job summary 2
The Collections Specialist is responsible for a broad range of collection processes related to medical accounts receivable in support of multiple site locations. The Collections Specialist will proactively work with assigned accounts to maximize accurate and timely payment.
Duties & Responsibilities 2
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Job summary 3
To help the Company continue to grow and service our customers, we are recruiting for Collections Specialist. This role offers a hybrid work environment with a combination of in-office and remote work from home. To be successful in this role you will manage a portfolio as you administer credit and collections policies and procedures, maintain multiple billing and collections systems, and set up and update commercial accounts.
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Job summary 4
A Collections Specialist performs designated collection activities for assigned agencies to ensure receivables are reimbursed in an accurate and timely manner. Works directly with the payer and internal and external customers toward efficient and effective collection results. Works under moderate supervision.
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Job summary 5
As a Collections Specialist, you will perform collection follow-up on delinquent and/or non-delinquent accounts for medical facilities in a high volume, inbound and outbound, call center environment. You will utilize excellent communication and customer service skills to resolve patient accounts.
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Job summary 6
The Collections Specialist will be responsible for maintaining assigned accounts/portfolios. The duties of a Collections Specialist include collection calls and/or correspondence in a fast-paced goal oriented collections department.
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Job summary 7
Collections team is hiring for a Collections Specialist! The Collections Specialist’s goal is to assess each member’s situation with compassion, empathy, and persistence, and craft a unique solution to fit their needs. As a Collections Specialist, you will put your detective skills to the test as you persistently work to resolve delinquent accounts. You have a passion for analyzing puzzles, and strategically putting the pieces together. You find comfort in communicating the ‘tough stuff’ with compassion and clarity. You are familiar with the ins and outs of working in a financial institution; familiarity with collections practices is a perk, but not required. Organization and task-oriented work are where you shine; you enjoy problem-solving independently, while still collaborating with your team when needed.
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Job summary 8
The Collections Specialist will contact former students to obtain payment on delinquent receivables in a respectful, tactful, and solution-focused manner.
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Job summary 9
We are actively seeking a Collections Specialist to support the collections function by ensuring that all aging targets are met. The role includes being the primary point of contact for customers in securing payments and working with internal teams to ensure the timely resolution of outstanding issues. This position proactively manages an assigned group of customer accounts receivables through direct customer contact to minimize past-due balances.
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Job summary 10
A Collections Specialist performs the accounting function of Accounts Receivable by collecting money on past-due invoices.
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Requirements & Skills 10
Frequently asked questions
What does a collections specialist do?
A collections specialist is a professional who is responsible for managing and collecting unpaid debts from customers or clients. Their primary goal is to recover delinquent debts while maintaining positive relationships with the customers. Here are some of the main tasks that a collections specialist may perform:
Contacting customers: A collections specialist contacts customers by phone, email, or mail to request payment for overdue bills. They may also try to negotiate payment plans or settlements with customers.
Resolving disputes: Collections specialists may need to investigate and resolve disputes regarding billing or payment issues and work to resolve these issues with customers.
Maintaining records: Collections specialists maintain detailed records of all customer interactions, payment history, and account status.
Reporting: Collections specialists generate regular reports on the status of outstanding debts, progress toward recovery, and other relevant metrics.
Compliance: Collections specialists must be knowledgeable about state and federal laws that govern debt collection practices, and ensure that they are complying with these regulations.
Customer service: Collections specialists must be able to provide excellent customer service while collecting debts. This means that they must be able to communicate clearly and professionally and be empathetic to customers who may be experiencing financial difficulties.
Negotiation: Collections specialists must be skilled negotiators who can work with customers to find payment solutions that are acceptable to both parties.
Overall, a collections specialist plays a critical role in ensuring that businesses can recover delinquent debts, while also maintaining positive customer relationships. They must be skilled communicators, negotiators, and problem-solvers, and must be able to manage complex financial records and comply with legal regulations.
What skills does a collections specialist need?
To be an effective collections specialist, several important skills are required. Here are some of the key skills and qualities that collections specialists should possess:
Strong communication skills: Collections specialists must be able to communicate effectively and clearly with customers, colleagues, and other stakeholders. This includes the ability to speak persuasively, listen actively, and convey complex financial information in a way that is easy to understand.
Good negotiation skills: Collections specialists should have strong negotiation skills, and be able to work with customers to find mutually acceptable solutions to payment issues.
Attention to detail: Collections specialists must be detail-oriented and able to manage complex financial records accurately.
Customer service skills: Collections specialists should be able to provide excellent customer service while collecting debts. This means that they must be able to communicate professionally and empathetically and be sensitive to customers who may be experiencing financial difficulties.
Persistence: Collections specialists must be persistent in their efforts to recover debts while maintaining positive relationships with customers.
Problem-solving skills: Collections specialists must be able to identify and solve complex payment issues and work to resolve disputes with customers.
Compliance knowledge: Collections specialists must know state and federal laws that govern debt collection practices, and ensure that they are complying with these regulations.
Multitasking abilities: Collections specialists often have to manage multiple customer accounts simultaneously and must be able to manage their time effectively.
These are just some of the skills that are important for collections specialists to have. The specific skills required may vary depending on the industry and the company they work for, but having a combination of communication, negotiation, customer service, problem-solving, and compliance skills is key to success in this role.