Collection Executive
6 months ago
We are looking for a competent Collection Specialist to contact clients and collect outstanding payments. You will struck a balance between maintaining trustful relationships, and ensuring timely payments.
Our Collection Specialist should exhibit professionalism and trustworthiness. You should have excellent communication and negotiation skills, as well as an ability to work independently.
**Responsibilities**:
- Monitor accounts to identify outstanding debts
- Investigate historical data for each debt or bill
- Find and contact clients to ask about their overdue payments
- Take actions to encourage timely debt payments
- Process payments and refunds
- Resolve billing and customer credit issues
- Update account status records and collection efforts
- Report on collection activity and accounts receivable status
**Requirements and skills**:
- Proven experience as a Collection Specialist or similar role
- Knowledge of billing procedures and collection techniques (e.g. skip tracing)
- Familiarity with laws related to debt collection (e.g. FDCPA)
- Working knowledge of MS Office and databases
- Comfortable working with targets
- Patience and ability to manage stress
- Excellent communication skills (written and oral)
- Skilled in negotiation
- Problem-solving skills
- High school diploma; Associate’s/Bachelor’s degree is a plus
**Collection Executive duties and responsibilities**:
- Monitor accounts on a daily basis
- Identify outstanding account receivables
- Investigate historical data for debts and bills
- Take actions in order to encourage timely payments
- Process payments and refunds
- Resolve billing issues
- Resolve customer credit issues
- Contact clients and discuss their overdue payments
- Update account status records
- Prepare and present reports on collection activities and progress
**Collection Executive qualifications and requirements**:
The collection Executive job description should contain the following requirements and qualifications:
- Proven experience as a Collection Executive or similar role
- Excellent knowledge of billing procedures
- Knowledge of various collection techniques
- Contact clients and discuss their overdue payments
- Working knowledge of MS Office and databases
- Comfortable working with targets
- Knowledge of collection laws and regulations
- Excellent communication and interpersonal skills
- Problem-solving and critical-thinking skills
- Associate’s/Bachelor’s degree is a plus
**Responsibilities**:
- Collecting and maintaining a record of all overdue payments
- Maintaining an accurate record of the amount payable and default period
- Investigating the reason for delinquency
- Encouraging and arranging plans for timely payments
- Keeping records of all collection activities
- Researching the credit behaviour of all debtors
- Coordinating with the Accountant to maintain and update payment records
- Processing any refunds
- Monitoring overdue accounts on a regular basis
- Addressing any customer queries
- Reviewing and undertaking any account alterations
- Negotiating settlements
- Undertaking all collection activities in accordance with the collection policy
- Liaising between the creditors and the company
- Granting additional payment period and approving/rejecting any partial payment requests
- Communicating with insurance agencies to streamline collection procedures/policies
- Recommending collection improvement measures
- Undertaking administrative duties like faxing documents, balance write offs and processing memos
- Adhering to the state and company regulations
- Updating accounts receivable status
- Preparing and presenting collection reports during audit
- Reviewing all expired or inactive accounts
**Requirements**:
- Minimum 2 years work experience as a Collection Executive or similar role
- Excellent negotiation skills
- Strong problem solving and analytical ability
- Proficiency in MS Office tools and databases
- Excellent oral and written communication skills
- Familiarity with collection laws and policies
- Ability to undertake administrative duties
- Ability to work under pressure and meet deadlines
- Familiarity with billing procedures
**Salary**: ₹20,000.00 - ₹25,000.00 per month
Schedule:
- Day shift
**Education**:
- Bachelor's (preferred)
**Experience**:
- total work: 1 year (required)
Work Location: In person
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