Collections Specialist

Fully Remote

Location: 50 Miles within Akron, OH or Columbus, OH

Overview: The Collections Specialist role will play a crucial part in managing and reducing the bank's outstanding receivables. This role involves communicating with customers to collect overdue payments, negotiating repayment plans, and ensuring compliance with bank policies and legal regulations. The ideal candidate will have excellent communication skills, a strong understanding of financial principles, and a commitment to providing exceptional customer service.

Key Responsibilities:

• Customer Communication: Initiate contact with customers via phone, email, and letters to collect outstanding payments.
• Payment Negotiation: Negotiate repayment plans with customers to recover outstanding debts while maintaining positive customer relationships.
• Account Management: Monitor and manage assigned accounts to identify overdue payments and determine the best course of action.
• Documentation: Maintain accurate records of all communications, payment agreements, and account statuses in the bank’s collection system.
• Compliance: Ensure all collection activities comply with bank policies, federal and state regulations, and the Fair Debt Collection Practices Act (FDCPA).
• Reporting: Prepare and present regular reports on collection activities, outstanding accounts, and recovery progress to management.
• Customer Service: Provide excellent customer service by addressing customer inquiries and concerns in a professional and timely manner.
• Collaboration: Work closely with other departments, such as Customer Service, Loan Servicing, and Legal, to resolve account issues and improve collection processes.
• Process Improvement: Identify opportunities for improving collection procedures and systems to enhance efficiency and effectiveness.

Qualifications:

• Education: High school diploma or equivalent required; associate or bachelor’s degree in finance, business, or related field preferred.
• Experience: Minimum of 1 year of experience in collections, customer service, or a related field in the banking or financial services industry.

Skills:

• Strong communication and negotiation skills.
• Ability to handle difficult conversations with professionalism and empathy.
• Excellent organizational and time management skills.
• Proficient in Microsoft Office Suite (Excel, Word, Outlook).
• Familiarity with collection software and databases.

• Attributes: High level of integrity, attention to detail, and a results-oriented mindset.