A Collection Executivemanages overdue accounts by contacting customers, negotiating payment plans, and ensuring timely recovery of debts while maintaining professional relationships and adhering to legal guidelines, requiring strong communication, negotiation, and problem-solving skills, along with meticulous record-keeping and CRM usage to meet targets.
Key Responsibilities
- Debt Recovery: Contact customers via phone, email, or in-person for overdue payments.
- Negotiation: Discuss and agree on payment plans, settlements, and repayment schedules.
- Customer Communication: Understand financial situations, resolve payment disputes, and provide support.
- Record Keeping: Maintain accurate records of all collection activities, customer interactions, and payment commitments in CRM systems.
- Reporting: Provide regular updates to management on collection status, outstanding debts, and performance.
- Compliance: Ensure all collection practices follow company policies and relevant debt collection laws.
- Coordination: Work with internal teams (finance, legal) to escalate complex cases and implement strategies.
- Agency Management (if applicable): Coordinate with external collection agencies and track their performance.
Essential Skills & Qualifications
- Skills: Excellent communication (verbal/written), negotiation, persuasion, problem-solving, conflict resolution, attention to detail, and stress management.
- Experience: Previous experience in collections, finance, or a related field is often required.
- Knowledge: Understanding of debt collection regulations and CRM/collection software.
- Education: A Bachelor's degree in Finance or a related field is preferred.
- Attributes: Target-oriented, responsible, empathetic, professional, and confident.
