The process of collection is aimed at finding a payment solution that is a reasonable compromise between the creditor and the debtor. A collections specialist attempts to collect funds from their employer’s customers or clients who have not paid their bills in full and on time. Collections specialists make use of a computer to record any contact attempts and interactions with the debtor so there is documentation of the whole collection process.
When you write your collections specialist job description, be sure to mention that prospective applicants need to have excellent communication skills. They must listen to the needs and concerns of the debtor as well as clearly explain the situation from the creditor’s point of view.
Sharp negotiating skills are a must for a collections specialist as well. Take a look at this collections specialist job description template in order to craft your own professional job listing.
Collections Specialist Job Summary
Do you enjoy the art of negotiation and take pride in your ability to communicate well with others? If so, Capital Creditors has a job opening you will be interested in. You will work as a collections specialist for our main office. You will use your research and personable skills to recover late payments for the many corporations that are our clients. You will contact debtors by phone, email and standard mail and negotiate repayment plans with them. Knowledge of Microsoft office is helpful, but if you have a determined nature and are willing to learn our software documentation process, apply today for this opportunity.
- Locate the parties who have been identified as being late with bill payments using the internet and institutional resources
- Make the first contact with the debtor and explain why payment is due for the product or service
- Attempt to negotiate a repayment plan after listening to the debtor’s reasons why payment is late and make referrals to consumer debt resources if appropriate
- Follow the company debt repayment negotiation protocol in all interactions with debtors
- Monitor the debtor’s account to assure the negotiated repayment plan is being adhered to, at times initiating the legal process if the debtor fails to meet the terms of the agreement
- Adhere to federal and state debt collection laws in order to preserve the legality and binding nature of the transactions undertaken, providing full transparency of operations
- Utilize basic and advanced skip tracing techniques to acquire debtor information
- Strive to maintain excellent customer relations through professional conduct
Job Skills & Qualifications
- Microsoft Office skills
- Excellent verbal and written communication skills
- Ability to stay organized on multiple projects while performing accurate work
- Willingness to abide by the Fair Debt Collection Privacy Act (FDCPA)
- Previous collections experience
- Training and mentoring ability
ollections Specialist Job Responsibilities
The job responsibilities section of a collections specialist job description plays a key role in helping the candidates you’re looking for to find you as it makes up the meat of the whole description. Attract those candidates by selling them on your company first, identifying the corporate vision and the leadership’s plan to reach organizational objectives. By presenting the mission up front, you draw the attention of jobseekers who appreciate feeling a part of something larger than themselves. Those candidates often become loyal employees because, when hired, they quickly find their place in the organization, contributing effortlessly to its overall aim.
In addition to selling applicants on the company’s mission, your collections specialist job description should succinctly outline the most significant responsibilities of a collector. Rather than present a limitless list that includes regular duties as well as those that may or may not surface for months at a time, narrow the role to its core, the required functions a collector must engage in on a daily basis. Succinctly presenting the collector’s responsibilities increases your chances of attracting qualified and interested candidates.
Here’s an example of a collections specialist job responsibilities list:
- Collect accounts through accurate record-keeping and diligent follow-up
- Maintain up-to-date knowledge of current regulations and performance standards
- Reduce overall delinquency rate
- Collaborate with senior management to enhance collection processes
Collections Specialist Job Specifications
When you’ve sold jobseekers on your organization and let them know exactly what the collector’s responsibilities are, it’s time to outline the qualifications and skills you expect of qualified applicants. The more specific you are, the more likely you’ll appeal to the kind of candidates your collections specialist job description targets.
Without ambiguity, let applicants know the minimum education, experience and knowledge you require. Specific qualifications save you time because they help unqualified candidates to eliminate themselves from the applicant pool and encourage qualified applicants to feel confident submitting their resumes. The results for you are a stronger group of applicants in a shorter period of time, an outcome that also saves money because you fill the position faster with a highly qualified collector who’s likely to stay with your company for an extended period of time.
When you’re ready to spell out the qualifications in the collections specialist job description, take a look at the following collections specialist job specifications for ideas:
- Extensive knowledge of collections procedures
- Commitment to quality customer service and the ability to balance effective provision of services with efficient debt repayment plans
- Expertise in ADS Advantage and Intuit Quickbooks
- High school diploma and 3-5 years of experience as a debt collector