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Collection Specialist
Bank of the West
Tempe, AZ, United States
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Job Description Summary
Responsible for the collection of delinquent accounts ensuring that portfolio cash flow is maximized and portfolio losses are kept to a minimum. Makes appropriate and timely collection calls on the account. Utilizes Info Lease system diary to manage timely follow-up on delinquent accounts. Interfaces with the clients. Produces accurate collection analysis reporting for presentation to the Collections Manager and to client(s). Maintains strong working relationships with Customer Service and Accounting Departments
Essential Job Functions
• Manages the collections process to include: collection of current business information from customers, generates collection letters, tracks non-sufficient funds checks, provides backup processing for checks-by-phone, resolves invoicing issues, troubleshoots any payments received without invoice information, faxes requests for lease copies or monthly invoices upon request, and pulls hard-copy files for research.
• Reviews delinquent accounts and contacts lessees when accounts become 30 days past due. Refers all delinquent accounts 60 days past due to the Collections Manager.
• Determines cause of delinquency via information collected, develops strategy for collection of funds, and monitors payment plan. Follows up with guarantors or executive company officials to strategize difficult collection.
• Collects any outstanding late charges, taxes, and miscellaneous items. Prepares buyouts/payoffs.
• Logs and notes all client calls on the Info Lease system.
• Generates daily and monthly reports from Info Lease system. Prepares month end reports, generates weekly aging reports, and runs credit reports and other reports as required. Reviews delinquency reports.
• Utilizes subscription services (Haines, Experian, Equifax, Dunn & Bradstreet reports) to thoroughly skip trace clients as necessary.
• Prepares contract dispositions and various forms regarding cash application errors and changes to the account.
Other Job Duties
• Responds promptly and answers client inquiries on specific portfolios and follows procedures and guidelines of portfolios.
• Works with portfolio team members to ensure all monthly client reporting is accurate.
• Performs other duties as assigned.
Qualifications
Required Experience
• Associates Degree and/or equivalent work experience
• Requires 3 years' minimum collections experience
• Demonstrated ability to generate delinquency reports
• Demonstrated ability to follow portfolio directions and procedures and Company policies and guidelines
Skills
• Knowledge of Info Lease system
• Demonstrated ability to generate delinquency reports utilizing Info Lease system and Excel
• Demonstrated ability to analyze statistical and financial data
Administrative/Technical Skills
• Ability to prepare reports and business correspondence
• Ability to work independently and as a member of various teams/committees
• Ability to develop strong working relationships
• Ability to perform calculations of varying complexity (discounts, interest, commissions, percentages)
• Ability to manage workflow and priorities
• Attention to details
• Analytical and research skills
• Customer service skills
• Organizational and prioritization skills
• Problem-solving skills
• Personal computer skills using Microsoft Office software: Word, Excel, Outlook, etc.
• Verbal and written communication skills.