Payment Collection Specialist 22J25

A Payment Collection Specialist plays a critical role in managing and overseeing the collection of outstanding debts as assigned. This position requires an individual who can balance the delicacy of customer relationships with the need to achieve company goals. As a Payment Collection Specialist, you will engage with clients to provide a clear understanding of their accounts, create payment solutions, and communicate effectively to encourage timely payments, thereby contributing to the organization's financial health. It requires skillful negotiation, persistence, and a keen understanding of financial processes and customer service. Working in this position ensures that the company maintains healthy cash flow and minimizes the risk of bad debts while maintaining a positive relationship with each customer.

Responsibilities

• Manage accounts through daily phone calls, emails, and letter correspondence for debt collection.
• Negotiate repayment plans and ensure commitments are met in a timely manner.
• Maintain accurate and up-to-date records of all communication with clients.
• Review accounts on a regular basis to ensure complete and timely clearing of debt.
• Collaborate with other departments to resolve disputes and facilitate payment arrangements.
• Prepare reports on collection activities and account statuses for management review.
• Investigate and resolve discrepancies and payment issues presented by clients.
• Handle sensitive client information with the utmost confidentiality and professionalism.
• Evaluate client financial situations to recommend appropriate terms and conditions of payment plans.
• Implement debt collection strategies to improve recovery rates and decrease default accounts.
• Ensure compliance with all federal, state, and local laws regarding debt collection.
• Participate in ongoing training to stay updated on best practices in collections and customer service.

Requirements

• Bachelor’s degree in Finance, Business Administration, or related field preferred.
• Proven experience as a Payment Collection Specialist or in a similar role.
• Familiarity with billing procedures and collection techniques is essential.
• Strong negotiation and problem-solving skills to manage delinquent accounts effectively.
• Excellent communication and interpersonal skills are necessary for client interactions.
• High attention to detail and ability to handle confidential information responsibly.
• Proficiency with Microsoft Office Suite and experience using accounting software.
• Ability to work independently and manage multiple tasks and deadlines efficiently.