loader image

Collection Specialist

Job Description:

We are currently seeking a Collection Specialist to manage our accounts receivable and ensure timely collection of outstanding payments. The Collection Specialist will play a key role in maintaining positive relationships with clients while effectively managing overdue balances and minimizing debt risk.

Responsibilities:

  • Conduct proactive collection efforts to recover outstanding balances from clients, utilizing phone calls, emails, and other communication channels to negotiate payment arrangements and resolve disputes.
  • Review and analyze aged receivables reports to identify delinquent accounts and prioritize collection activities based on urgency and account status.
  • Collaborate with internal stakeholders, including sales, customer service, and finance teams, to address client inquiries, disputes, and billing discrepancies in a timely and professional manner.
  • Maintain accurate records of collection activities, correspondence, and payment arrangements in the accounting system, ensuring compliance with company policies and procedures.
  • Monitor payment trends and identify opportunities to streamline collection processes, improve cash flow, and minimize bad debt exposure.
  • Provide regular updates and reports on collection performance, aging trends, and account receivable metrics to management, highlighting areas for improvement and risk mitigation.
  • Stay informed about relevant regulations, laws, and industry best practices related to accounts receivable management and debt collection, ensuring compliance and ethical conduct.

Requirements:

  • A minimum of one year of experience in accounts receivable management, credit control, or collections.
  • Strong understanding of accounting principles and practices related to accounts receivable, credit analysis, and debt collection.
  • Excellent communication and interpersonal skills, with the ability to build rapport with clients and negotiate payment terms effectively.
  • Proven ability to prioritize tasks, manage multiple deadlines, and work independently with minimal supervision.
  • Proficiency in using accounting software and Microsoft Office applications, particularly Excel, for data analysis, reporting, and documentation.
  • Bachelor’s degree in accounting, finance, business administration.