Collections Specialist

4 weeks ago


Bracknell, United Kingdom Solera, Inc. Full time
The RolenA Collection Specialist Level 2 is responsible for managing and improving the collections process to recover outstanding debts while maintaining positive customer relationships. They work closely with customers to resolve outstanding payment issues and may have the authority to make more complex decisions regarding settlements, payment plans, or referring delinquent accounts to collections agencies. This role often involves more extensive data analysis and reporting. The ideal candidate should have strong communication and negotiation skills, be detail-oriented, and able to work in a fast-paced environment.

What You Will Do

Customer Interaction:nContact customers through various channels, including phone, email, and written correspondence, to discuss outstanding debts, negotiate repayment terms, and establish payment plans.nAccount Management:nMonitor and manage a portfolio of delinquent accounts, tracking and documenting all communications, agreements, and payment activities.nCommunicate with internal stakeholders, such as sales and customer service teams, to resolve customer issues and ensure timely payment.nNegotiation:nNegotiate with customers to reach mutually acceptable solutions, which may involve offering settlements, discounts, or extended payment terms.nDocumentation:nMaintain detailed and accurate records of all collection’s activities, ensuring compliance with legal and regulatory requirements.nCustomer Service:nProvide excellent customer service while dealing with customers, answering their questions, and addressing concerns professionally and courteously.nEscalation:nProvide regular updates on collection activities and account status to management.nDetermine when to escalate delinquent accounts to a higher level of collections or recommend legal actions, as necessary.nIdentify and escalate high-risk accounts to management for further action.nData Analysis:nAnalyze customer accounts to identify trends and payment behaviors, making data-driven decisions to improve collection strategies.nReporting:nGenerate and analyze collection reports to assess the effectiveness of collection efforts and provide regular updates to management.nCompliance:nEnsure all collection activities adhere to relevant laws, regulations, and company policies, such as the Fair Debt Collection Practices Act (FDCPA).nTraining and Support:nMay assist in training and mentoring Collection Specialists Level 1, offering guidance on best practices and complex cases.

What You Will Bring

Qualifications:nTo excel in this role, an individual must successfully execute each crucial task. The outlined requirements below are indicative of the requisite knowledge, skills, and abilities. Appropriate accommodations may be provided to empower individuals with disabilities to fulfill essential functions.nHigh school diploma or equivalent. Bachelor's degree in finance or related field may be preferred).nMinimum of 2 years of experience in accounts receivable team. Preferably in a level 1 Collections Specialist role.nFamiliarity with basic accounting principlesnProficiency in using collection software and Microsoft Office applications, especially Excel.nKnowledge of relevant laws and regulations governing collections activities.nExperience with collections software or enterprise resource planning (ERP) systems is a plus.

Required Skills and Abilities:nStrong negotiation and communication skills.nExcellent problem-solving and analytical skills.nAttention to detail, accuracy, and organizational skills.nAbility to work well under pressure and meet deadlines. Ability to prioritize tasks and work in a fast-paced environment.nWillingness to learn and follow established procedures.nAbility to work collaboratively as part of a team.nExcellent communication and interpersonal skills. Able to communicate clearly and effectively, verbally, in writing, and by electronic communications with both internal and external clients.nExcellent customer service skills.nAbility to mentor and coach.nMulti-lingual is preferred.

Physical Demands:nThe physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.nRequired to sit for extended periods of time.nRequired to wear a telephone headset to interact with clients and/or associates over the phone for 7+ hours a day.nRequired to type for extended periods of time.nRequired to work with digital displays for 7+ hours a day.

Work Environment:nThe work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.nWork from the office and remote.nAbility to work hours as dictated by the project.

ACCOUNTABILITYnThis position does not have subordinates. Decisions are escalated to a senior level.

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