Collection Executive (225-729)

A Collection Executive plays a crucial role in maintaining the financial health of a company. Tasked with contacting debtors, negotiating payment plans, and maintaining collection records, this individual ensures the timely recovery of outstanding debts. As a frontline negotiator, the Collection Executive works with various stakeholders to resolve outstanding balances while maintaining excellent customer relationships. Their key objective is to minimize the company's financial risk by ensuring quick and effective debt recovery, all whilst maintaining the highest level of customer service. The ideal candidate is proactive, detail-oriented, and possesses excellent communication and negotiation skills. Furthermore, the position may require collaboration with other departments to streamline collection efforts and improve recovery processes. Working as a Collection Executive demands an analytical mindset and the ability to handle complex financial data to achieve set financial recovery goals.

Responsibilities

• Contact clients via telephone or email to secure payment of outstanding debts.
• Negotiate repayment plans with debtors that align with company policies.
• Maintain detailed records of all communications and transactions with clients.
• Monitor collection targets and implement strategies to meet set goals.
• Collaborate with the finance department to reconcile accounts and resolve discrepancies.
• Identify and escalate complex cases to senior management for resolution.
• Prepare regular reports on the status of collections and outstanding debts.
• Ensure compliance with federal and state laws governing debt collection practices.
• Deliver exceptional customer service to maintain positive client relationships.
• Review and recommend changes to collection policies to improve efficiency.
• Stay updated on industry trends and legal changes impacting debt collection.
• Train and mentor junior team members to improve their performance.

Requirements

• High school diploma or equivalent; a degree in finance is a plus.
• Proven experience as a Collection Executive or in a similar role.
• Excellent verbal and written communication skills to negotiate effectively.
• Strong organizational skills with meticulous attention to detail.
• Proficiency in Microsoft Office Suite and collection software systems.
• Ability to work independently and meet deadlines under minimal supervision.
• Familiarity with laws related to debt collection and financial regulations.