Collection Executive (225-927)

A Collection Executive is responsible for managing and facilitating the collection of outstanding debts and accounts receivables for a company. This role is vital to maintaining the company's cash flow and involves direct interaction with clients to ensure timely payment of their accounts. A Collection Executive needs to possess excellent communication, negotiation, and problem-solving skills to effectively address customers' issues and queries. Additionally, the executive must adhere to legal guidelines related to debt collection practices while maintaining a respectful and professional demeanor. This role may require working collaboratively with other departments to reconcile accounts and devise strategies to improve collection processes.

Responsibilities

• Communicate effectively with clients to secure prompt payment of outstanding invoices.
• Evaluate and analyze customer accounts to identify debt collection issues and solutions.
• Make regular follow-up calls or visits to delinquent customers to remind them of due payments.
• Record all collection activities and maintain accurate documentation for future reference.
• Negotiate payment arrangements and settlements with clients in accordance with company policies.
• Prepare and send out regular statements, reminders, and overdue notices to customers.
• Collaborate with finance and sales teams to reconcile accounts and address discrepancies.
• Identify reasons for non-payment and develop strategies to overcome payment obstacles.
• Comply with all legal requirements and company policies regarding debt collection practices.
• Keep detailed records of conversations, agreements, and contact details of clients.
• Report regularly to management on the status of outstanding debts and collection strategies.
• Assist in developing and implementing new strategies for efficient debt collection.

Requirements

• Bachelor's degree in Finance, Business Administration, or related field is preferred.
• Proven experience in a debt collection or accounts receivable role necessary.
• Excellent communication, negotiation, and interpersonal skills are essential.
• Ability to handle difficult conversations with tact, diplomacy, and professionalism.
• Strong analytical and problem-solving skills to address account issues effectively.
• Familiarity with legal standards and requirements related to debt collection practices.
• Proficiency in using collection software and Microsoft Office Suite, especially Excel.