Payment Collection Specialist 13N25

The role of a Payment Collection Specialist is essential for ensuring the financial health and operational efficiency of a company. This position requires individuals who are adept at managing and overseeing accounts, implementing strategies to ensure timely payment of debts, and maintaining professional relationships with clients. As a Payment Collection Specialist, you will act as the liaison between the company and its customers, ensuring that all financial transactions are executed smoothly and efficiently. The role demands a keen attention to detail, excellent communication skills, and the ability to work under pressure and with challenging situations. This position offers growth opportunities for individuals seeking to enhance their career in finance and customer service.

Responsibilities

• Monitor and manage accounts to identify outstanding debts and ensure timely collection.
• Contact clients via phone, email, and mail to remind them of outstanding payments.
• Negotiate payment plans and settlements with customers to minimize bad debt.
• Maintain accurate records of correspondence and payment history in company database.
• Work closely with the billing department to resolve any discrepancies in financial records.
• Prepare regular reports on the status of collections and outstanding debts.
• Assist in developing strategies and techniques to improve the collection process.
• Provide excellent customer service to maintain positive client relationships.
• Review client credit history to determine any potential credit adjustments.
• Ensure compliance with all state and federal collection regulations and laws.
• Identify and report any potential financial issues to management promptly.
• Support the finance team in other related duties as required for financial stability.

Requirements

• Bachelor's degree in finance, accounting, business administration, or related field preferred.
• Proven experience as a collections specialist or in a similar role is a plus.
• Strong understanding of collection techniques and negotiation skills.
• Excellent communication, interpersonal, and customer service skills are essential.
• Ability to handle sensitive financial information with integrity and confidentiality.
• Proficient in Microsoft Office applications, especially Excel and financial management software.
• Strong problem-solving skills and ability to work independently under minimal supervision.