Collections Specialist

Description

The Collections Specialist is responsible for managing and collecting outstanding accounts receivable from customers. This role requires a detail-oriented individual with excellent communication and negotiation skills to resolve payment issues and maintain positive customer relationships. The Collections Specialist will work closely with the accounting and sales teams to ensure timely collections and accurate account reconciliation.

EMPOWERMENT: The individual in this position is Empowered with the responsibility for taking action regarding their success within this position.

WE OFFER A FULL BENEFITS PACKAGE FOR ELIGIBLE EMPLOYEES INCLUDING:

• Medical, Dental, and Vision Insurance
• Life (Voluntary and Employer Paid) and Disability Insurance
• 401(K) with company match beginning with your first contribution.
• HSA and/or FSA, as applicable
• Paid Time Off, Sick Time, and Company Paid Holidays
• Employee Car Discount Program

ESSENTIAL DUTIES & RESPONSIBILITIES: 

1. Collections Duties:

• Actively engage with debtors through phone calls, emails, and written correspondence to negotiate settlements and payment arrangements.
• Review and analyze debtor accounts to develop and implement effective collection strategies.
• Verify debtor information, including current contact information inclusive of, but not limited to home and business address, phone numbers, banking information, employment status and financial condition, to assess ability to pay.
• Maintain detailed records of debtor communications, payment agreements, and follow-up actions in the agency’s case management system.
• Strategy Development: Work closely with the collections manager to develop and implement policies and procedures to improve recovery rates.

2. File Management:

• Maintain comprehensive and organized files for all matters placed with collection agencies and attorneys.
• Monitor and update case files to ensure they are current and complete.
• Retrieve and provide documentation as needed for legal proceedings.
• Administrative tasks – Assist Office Administration in daily tasks or follow ups onclient matters or office needs.

3. System Updates:

• Update internal systems with information related to account placements, statuses, and outcomes.
• Ensure all system records are accurate and reflect the latest developments in each case.

4. Communication and Coordination:

• Serve as the primary point of contact between the organization, collections agencies, and attorneys.
• Address and resolve any issues or discrepancies that arise during the placement and management of accounts.
• Manage and review invoices and billing.

5. Reporting and Documentation:

• Generate and distribute regular reports on account statuses, placements, and outcomes.
• Document all actions taken in relation to account placements and legal proceedings.
• Maintain a high level of confidentiality and professionalism in handling sensitive information.

6. Compliance and Best Practices:

• Ensure all activities comply with Trans Lease, Inc.’s collections policies and legal requirements.
• Stay informed of industry best practices and legal developments to improve processes and outcomes.

7. Continuous Improvement:

• Identify opportunities for process improvement and efficiency gains in our recovery efforts.
• Contribute to the development of best practices and standard operating procedures.

8. Other duties:

Please note this job description does not cover or contain all activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Requirements

REQUIRED EDUCATION, EXPERIENCE, KNOWLEDGE & SKILLS: 

• Associate or bachelor’s degree preferred; high school diploma is required
• Minimum of 2 years of experience in a legal or collections environment, preferably within the equipment leasing or finance industry.
• Strong knowledge of debt collection laws and regulations, including the FDCPA.
• Exercises superb judgment and initiative and possesses strong problem-solving skills.
• Comfortable working with ambiguity, excels in a fast-paced environment, and operates with a sense of urgency with the ability to prioritize workflows.
• Experience with paralegal activities preferred.
• Proficient with Microsoft Office Suite and Adobe Acrobat.
• Excellent organizational skills and high attention to detail.
• Strong communication skills, both written and verbal.
• Ability to work harmoniously and effectively both independently and with others as part of a team.

WORK ENVIRONMENT & PHYSICAL ABILITIES: 

An employee must meet the physical demands described here to perform the essential functions of this job successfully; reasonable accommodation will be provided. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to:

• Sit and talk or hear.
• The employee must frequently use hands to finger, handle, or feel.
• The employee is occasionally required to stand, walk; reach with hands and arms, stoop, kneel, crouch, or crawl. 
• The employee must occasionally lift and/or move up to 10 pounds.
• The noise level in the work environment is usually moderate.

JOB DETAILS:

• Type: Salary
• Compensation Range: $70,000 - $85,000
• Reports To: Operations Manager
• Shift: 1st
• Closing Date: Open til filled