MISSION OF THE POSITION
The Collections Specialist is responsible for managing customer accounts to ensure timely collection of outstanding receivables while maintaining positive business relationships. This position proactively monitors aging reports, investigates delinquent accounts, resolves billing disputes, negotiates payment arrangements, and collaborates with internal departments to reduce outstanding balances and minimize financial risk.
- Proactively monitor aging reports to identify and prioritize collection activities.
- Contact customers via phone, email, and written correspondence to secure payment of outstanding balances and resolve delinquent accounts.
- Negotiate payment arrangements, settlements, and repayment plans in accordance with company policies and procedures.
- Investigate and resolve billing discrepancies, disputed invoices, deductions, short payments, and other account-related issues.
- Analyze customer payment trends, account history, and financial information to assess collection risk and recommend appropriate actions.
- Collaborate with Sales, Customer Service, Operations, and Accounting teams to resolve issues impacting timely payment and account resolution.
- Maintain accurate and detailed documentation of collection efforts, customer communications, payment commitments, and account status updates.
- Reconcile customer accounts and research unapplied cash, payment variances, and account discrepancies.
- Escalate high-risk or severely delinquent accounts and recommend placing customers on hold or legal action.
- Prepare and maintain accounts receivable, collections, and aging reports to support management decision-making and cash flow objectives.
- Ensure compliance with company policies, internal controls, and applicable financial and collection regulations.
- Support continuous improvement initiatives that enhance collection effectiveness, reduce bad debt exposure, and improve overall accounts receivable performance.
