Collection Executive

We are seeking a dedicated and results-driven Collection Executive to join our team. As a Collection Executive, you will be responsible for contacting customers who have outstanding payments, negotiating payment arrangements, and ensuring timely collection of overdue accounts. Your goal will be to minimize bad debts and maintain positive relationships with customers while adhering to company policies and procedures.

Responsibilities:

• Contact customers with outstanding payments through phone calls, emails, or letters to initiate collection efforts.
• Negotiate payment plans and arrangements with customers who are facing financial difficulties, while ensuring adherence to company policies and legal regulations.
• Resolve customer inquiries, disputes, or complaints related to billing and payment discrepancies in a professional and timely manner.
• Maintain accurate and up-to-date records of customer interactions, payment details, and collection activities using the company’s collection software or CRM system.
• Follow established protocols and procedures for handling delinquent accounts, including issuing payment reminders, sending collection letters, or initiating legal actions when necessary.
• Collaborate with internal departments, such as sales, customer service, and finance, to address customer concerns and find effective solutions.
• Monitor and track payment progress and account status of delinquent customers, and provide regular reports or updates to management.
• Maintain confidentiality and handle sensitive customer information with integrity and professionalism.
• Stay updated on industry regulations, best practices, and changes in debt collection laws to ensure compliance and ethical practices.
• Achieve collection targets and key performance indicators (KPIs) set by the company.

Requirements:

• High school diploma or equivalent; additional education in finance, accounting, or a related field is a plus.
• Proven experience in collections, debt recovery, or a similar role is preferred.
• Strong negotiation and persuasion skills to effectively communicate with customers and reach mutually beneficial solutions.
• Excellent communication skills, both verbal and written, with the ability to handle difficult conversations professionally.
• Detail-oriented with strong organizational and time management skills to prioritize and manage a high volume of accounts.
• Proficiency in using collection software, CRM systems, and Microsoft Office applications.
• Knowledge of debt collection laws, regulations, and ethical practices.
• Ability to work independently and as part of a team, with a high level of self-motivation and accountability.
• Ability to handle stressful situations with empathy, patience, and resilience.
• Strong problem-solving skills and the ability to analyze account information to identify appropriate collection strategies.