Collection Specialist Job Description
Collection specialist
provides technical support on software installations and upgrades including the MS Office suite and various Tax & Audit applications.
Collection Specialist Duties & Responsibilities
To write an effective collection specialist job description, begin by listing detailed duties, responsibilities and expectations. We have included collection specialist job description templates that you can modify and use.
Sample responsibilities for this position include:
Understand and adhere to company policies and procedures and comply with all state and federal laws and regulations with regards to appropriate contact and dialogue with consumers
Review customer aging list of Accounts Receivable to look at status of dealer accounts (current or past due), identify adjustments and reconciliations as needed, research short pays, file claims with customers as necessary, place invoices in dispute, look up customer contact information
Review credit master to check accounts credit limit, risk category, total receivables, open deliveries, back orders, current sales, prior year sales
Monitor insurance claims by running appropriate reports and contacting insurance companies to resolve claims that are not paid in a timely manner
Identify coding or billing problems from EOBs and work to correct the errors in a
Identifies insurance issues of primary vs
You may be provided with research and special projects at times
Be in accordance with company goals, policies, and procedures as they pertain to collection, Days Sales Outstanding, bad debt goals and objectives
Orchestrate order release, approve shipments (to the extent delegated by the Credit Manager) and place orders on credit hold in accordance with company guidelines
Perform basic and advanced skip-tracing with the use of internal and external skip-tracing resources to recover assets
Collection Specialist Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Collection Specialist
List any licenses or certifications required by the position: DOT, CPI, CPR
Education for Collection Specialist
Typically a job would require a certain level of education.
Employers hiring for the collection specialist job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and High School Degree in Accounting, Finance, Education, Business, Associates, Graduate, General Education, Business/Administration, Auditing, Healthcare
Skills for Collection Specialist
Desired skills for collection specialist include:
Collections industry laws
Regulations
Processes
Medical terminology
MS Office
SAP
Regulations and processes
Microsoft Office
JHU/ PBS Billing Applications
Various payer processing and submission guidelines
Desired experience for collection specialist includes:
Inbound/outbound telephone contact with customers concerning surrender of collateral or payment arrangements
Provide reinstatement information to the customer after repossession and complete the requirements necessary for reinstatement
Handle fraud investigations
Monitor each repossessed account to ensure receipt of the condition reports, and update the system accordingly
Obtain updates from repossession vendors and timely act upon them to maximize recovery efforts
Assist/Back-up for the Vendor Support Specialist, Title Administrator and Repossession Administrator
Collection Specialist Examples
1
Collection Specialist Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of collection specialist. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for collection specialist
- Complete collection activity for outstanding invoices by making and receiving phone calls and email, and other collection methods such as Alerts and Notifications technology
- Meet collection objectives by implementing collection plans that are in alignment with corporate, business unit, and department goals and aging protocols
- Be responsive to customers, partners, and managers
- Appropriately use and maintain confidential information based on company and department security protocols
- Assist Collection Managers with corporate collections
- Pursuing Bonds, Liens, and providing administrative support for all Bankruptcy, Foreclosure, Suits, Liens, and Judgments while working closely with the Credit Group
- The collector is expected to independently contact 45-55 collection accounts daily, primarily by phone, to collect the past due amounts
- Follows outlined written procedures and uses independent judgment to determine appropriate collection steps
- Use systems to document the activity of individual customer accounts and on an ''as needed'' basis, work with the other departments such as Sales and Billing to resolve billing issues
- They are responsible for approximately 300-500 past due accounts each month
Qualifications for collection specialist
- Associates degree or equivalent combination of education/experience
- 5 years of experience in collections, repossessions in Powersports and/or Auto finance industry preferred
- Excellent knowledge of the Fair Debt Collections Practices Act and multi-State repossession laws
- Minimum 2 years of experience within the healthcare, claims, or insurance industries
- Minimum 2 years of experience working in a call center or in a role with heavy phone interaction required
- Minimum of 2 years serving in a refund recovery, negotiation or debt collection capacity preferred
2
Collection Specialist Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of collection specialist. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for collection specialist
- Monitor accounts receivables balances and track customer accounts
- Ability to handle numerous inbound and outbound calls in a fast paced environment
- Reconcile discrepancies and handle customer inquiries relating to accounting records and determine course of action
- Responsible for collection of all account 30-120 days’ past due
- Prepare and maintain monthly finance/late charge write-off
- Send out past due notices requiring certification
- Basic account reconciliation as needed
- Collection of accounts outside of 30-120-day category as assigned
- Run Aging reports and update notes in system regarding status of payment on accounts
- Makes collection contacts via phone and/or e-mail on past-due accounts as assigned
Qualifications for collection specialist
- Flexible availability including Saturdays and early evenings to visit customer homes and place of employment
- Knowledge of claims processing helpful
- Ability to perform and act on root cause analysis
- Ability to ascertain issues from limited data
- Ability to anticipate and provide quick resolution to issues impacting recoveries
- Excel in organizational and time management skills
3
Collection Specialist Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of collection specialist. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for collection specialist
- Handles correspondence from accounts within assigned call area
- Analyzes asset and credit reports, original loan application to determine borrower(s) financial situation
- Evaluates value of collateral securing delinquent loans
- Performs research requested by customers and/or other employees
- Works with borrower and/or legal counsel on payment arrangement or other options
- Monitors payment plan and/or settlement payments
- Provides payoff quotes
- Documents borrower conversations and payment arrangements
- Documents collection tracking system as necessary
- Sends out collection notices on delinquent accounts
Qualifications for collection specialist
- The ability to pass a drug and background screen
- Have exceptional phone etiquette
- The ability to negotiate and follow up
- The ability to pay attention to detail and multi task
- Of at least one year duration
- LOVE working with numbers, bookkeeping, record keeping, and clerical reporting
4
Collection Specialist Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of collection specialist. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for collection specialist
- Handles administrative duties, including preparation of insurance claims, Forbearance, Modifications and Extension agreements, Partial and Full Surrenders, UCC Sales, litigation request and other related forms within the portfolio assigned
- Other duties or projects as assigned by management
- Follow up on status of liens with NCS
- Collection of outstanding balances
- Monthly maintenance of the Aged Trial Balance (Customer Record)
- Lead a team of 8-10 Collectors
- Assist with escalated calls
- Monitor Customer Calls and review account activity
- Ensure operational goals are being met
- Perform collections via phone and email
Qualifications for collection specialist
- AA degree in business or finance
- Minimum three (3) years’ experience in credit and/or collections required
- Bachelor's degree in Accounting is preferable or equivalent experience
- Two years' experience with consumer collections
- Trustworthy, highly organized and attentive to details essential
- Solid negotiation skills along with professional phone demeanor
5
Collection Specialist Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of collection specialist. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for collection specialist
- Responsible for initiating calls to delinquent customers to collect payments and settle accounts
- Requires a minimum of a high school diploma or its equivalent and 0-2 years of related experience
- Responsible for maintaining the accuracy and timely collections of self-pay balances for Psychiatry departments
- Works with the payers to resolve issues and facilitate prompt payment of claims
- Follow-up with insurance companies to collect outstanding accounts for which payment has not been received in response to the claims submission process, either electronically or by paper
- Self-pay Collectors will work in a high productivity paperless collection system environment contacting patients regarding balances due via predictive dialer
- Day to Day agency processing
- Daily individual agency interaction
- Direct payment research
- Documentation retrieval
Qualifications for collection specialist
- Background in finance preferred
- Bi-lingual language skills helpful
- High school diploma and five to ten years of collection experience
- Ability to effectively write business emails and reports
- Must have out-of-network PPO experience within an ambulatory surgery center (no exceptions)
- Ability to work with deadlines while remaining calm, flexible and organized