Collections Specialist

Job Description Collection Manager

A Collections Manager oversees the collection of outstanding debts, ensures compliance with laws, and develops strategies to optimize debt recovery.

Key Responsibilities

• Oversee Collections Team: Lead, train, and mentor collections staff to ensure adherence to company policies and legal regulations, while achieving departmental goals.
• Develop Collection Strategies: Create and implement effective strategies to improve debt recovery rates, reduce outstanding accounts, and minimize financial risk.
• Monitor Accounts Receivable: Track and manage the accounts receivable portfolio, ensuring timely and accurate collection of payments.
• Customer Communication: Address billing discrepancies, negotiate payment plans, and resolve escalated customer disputes professionally.
• Compliance and Reporting: Ensure all collection activities comply with federal and state regulations, prepare reports on collection performance, and analyze trends to improve processes.
• Collaboration: Work with finance, sales, and SD/PMO service departments to streamline collection processes and enhance customer experience.

Required Skills and Qualifications

• Education: Bachelors degree in Finance, Accounting, Business Administration, or a related field.
• Experience: Typically 3/5 years in collections or credit management, with at least 2 years in a supervisory role.
• Technical Skills: Proficiency in accounting software, software, CRM systems, and Microsoft Office Suite, especially Excel.
• Soft Skills: Strong leadership, negotiation, analytical, problem-solving, and communication skills.
• Excellent analytical and problem-solving abilities, with attention to detail.
• Effective communication and interpersonal skills, with the ability to collaborate cross-functionally and influence stakeholders.
• Ability to work under pressure and manage multiple priorities in a fast-paced environment.

Work Environment

• Primarily office-based, with regular
• Regular travel may be required for team meetings or client consultations.

Additional Responsibilities

• Establish departmental goals and performance metrics.
• Implement policies to minimize bad debt and financial risk.
• Maintain accurate records of all collection activities and communications.