Payment Collection Specialist (225-806)

The role of a Payment Collection Specialist is crucial to maintaining the financial health and stability of an organization. This position is responsible for ensuring timely collection of payments, resolving discrepancies, and maintaining relationships with clients to foster an atmosphere of trust and cooperation. Working as part of the finance or accounts receivable department, the Payment Collection Specialist plays a key role in managing the cash flow of the company by monitoring outstanding debts and driving efforts to recover these funds efficiently and professionally. This position requires excellent communication skills, a keen eye for detail, and the ability to work under pressure to meet deadlines and targets. Candidates in this role will often liaise with various internal and external stakeholders, requiring adept negotiation and conflict resolution skills.

Responsibilities

• Monitor and maintain assigned accounts, including customer calls and follow-up for timely payments.
• Conduct regular account reconciliations to identify, resolve, and collect outstanding balances promptly.
• Ensure all received payments are accurately recorded in the company's financial systems.
• Communicate with clients to resolve collection issues and provide updates on account statuses.
• Develop and implement effective collection strategies to improve the collection rate.
• Prepare and present detailed reports on collection activities and progress to management.
• Collaborate with internal departments to facilitate payment resolutions and discrepancies.
• Evaluate customer accounts to determine the need for escalated collection actions or payment agreements.
• Maintain records of all customer interactions and transactions in the company's system.
• Provide excellent customer service while maintaining professionalism and empathy during all interactions.
• Identify and escalate unresolved issues to appropriate parties for further action or investigation.
• Participate in monthly and quarterly reviews to optimize collection processes and policies.

Requirements

• Proven experience in accounts receivable or a similar role for at least two years.
• Strong knowledge of billing and collections processes and practices.
• Excellent communication and interpersonal skills to manage customer relationships effectively.
• Ability to work independently with strong attention to detail and analytical skills.
• Proficiency in using accounting software and MS Office Suite, especially Excel.
• High school diploma or equivalent; additional finance or accounting coursework is an advantage.
• Strong problem-solving skills with the ability to handle difficult conversations gracefully.