Collections Specialist

Job Description:

1. Collections Management:

- Initiate contact with customers via phone calls, emails, or letters to ensure timely payment of outstanding invoices.

- Implement collection strategies and follow-up procedures to minimize delinquent accounts.

- Negotiate payment arrangements and establish suitable payment plans with customers who are experiencing financial difficulties.

- Monitor customer accounts and maintain accurate records of collection activities, including payment promises and disputes.

2. Account Reconciliation:

- Perform regular account reconciliations to ensure accurate tracking of outstanding balances.

- Investigate and resolve discrepancies or disputes raised by customers related to their invoices or payments.

- Collaborate with internal departments (e.g., sales, customer service, Shipment team ) to resolve any billing or delivery issues that may impact timely payment.

3. Credit Assessment:

- Evaluate creditworthiness of new and existing customers by analyzing financial statements, credit reports, and payment histories.

- Review and update credit limits for customers based on their payment behavior and creditworthiness.

- Recommend appropriate credit terms and conditions for new customers or changes to existing customers credit terms.

4. Reporting and Analysis:

- Preparation & analysis of monthly MIS of Revenue (Billed & unbilled), provisions and Debtors

- Ensure periodic ledger reconciliation of the top clients

Person Specifications/ Skillsets:

- Master/ bachelor's degree in finance, accounting, or a related field (preferred).

- Proven experience in credit control, collections, or a similar role.

- Strong knowledge of credit control principles, collections practices, and relevant laws/regulations.

- Excellent negotiation and interpersonal skills with the ability to handle difficult conversations tactfully.

- Proficient in using Excel for data analysis.

- Detail-oriented with strong analytical and problem-solving abilities.

- Exceptional organizational skills and ability to manage multiple priorities.

- Effective communication skills, both written and verbal.

- Ability to work independently and collaboratively as part of a team