Demo

Collection Specialist

Cordia Resources by Cherry Bekaert
Laurel, MD Full Time
POSTED ON 1/17/2025
AVAILABLE BEFORE 3/16/2025
Job Requisition: Debt Collection Specialist
Position Title: Debt Collection Specialist
Department: Finance/Collections
Reports To: Collections Manager
Location: Hybrid - Laurel, MD
Type: Full-Time/Non-Exempt

Job Summary
We are seeking a highly organized and detail-oriented Debt Collection Specialist to join our collections team. This role will lead the debt collection process for assigned customers, ensuring timely recovery of outstanding debts while maintaining excellent customer service. The ideal candidate will have strong communication skills, the ability to negotiate payment arrangements, and a deep understanding of debt collection regulations and strategies.

Key Responsibilities
  • Cross Department Collaboration: Collaborate with internal teams such as billing, accounts receivable, and finance to resolve discrepancies and ensure accurate customer account information.
  • Performance Metrics: Monitor and report collection metrics such as recovery rates, days sales outstanding, and delinquency trends to support process improvement.
  • System Expertise: Utilize Deltek Costpoint 8.2 to track, manage, and document collection activities effectively.
  • Lead Debt Collection Process: Take responsibility for managing the debt collection efforts for assigned customer accounts, from initial contact through resolution.
  • Customer Communication: Initiate contact with customers via phone, email, and mail to recover overdue debts. Provide clear, accurate information about outstanding balances.
  • Maintain Accurate Records: Keep detailed and up-to-date records of all communications, actions, and outcomes in the debt collection process.
  • Answer Customer Inquiries: Respond promptly to customer questions related to billing statements, charges, and payment options.
  • Negotiate Payment Plans: Work with customers to negotiate partial repayments, payment plans, or settlements, ensuring fair and timely recovery of funds.
  • Monitor Payment Deadlines: Track payment due dates and send appropriate reminders to customers.
  • Update Account Status: Ensure account records are updated promptly once a debt has been paid or settled.
  • Dispute Resolution: Investigate and resolve billing errors and disputes. Follow up with customers to ensure issues are satisfactorily resolved.
  • Confidentiality: Maintain strict confidentiality and discretion with customer information.
  • Legal Collaboration: Work with legal teams, if necessary, to escalate debt collection cases requiring legal action.
  • Compliance: Ensure compliance with all federal, state, and local debt collection laws, regulations, and company policies.
Qualifications
  • Education: High school diploma or equivalent required; associate or bachelor’s degree preferred with a concentration in accounting, finance, or business administration.
  • Experience: Minimum of 4 years in debt collection, accounts receivable, or a related field.  Experience in debt collection or accounts receivable within the government contracting or DoD environment is highly preferred. Working knowledge of the Fair Debt Collection Practices Act (FDCPA) and other applicable regulations.
  • Skills:
    • Excellent communication and negotiation skills, both verbal and written.
    • Strong organizational and time-management abilities.
    • Proficient in using debt collection software and databases.
    • Ability to handle sensitive information with confidentiality and professionalism.
    • Knowledge of federal, state, and local debt collection laws.
    • Problem-solving skills with a customer-focused approach.
    • Ability to collaborate effectively with cross-functional teams, including legal professionals.
    • Working knowledge of Deltek Costpoint 8.2.
    • Certified Credit & Collection Professional (CCCP) or similar designation preferred but not required.
    • Demonstrated ability to de-escalate conflicts and handle challenging customer interactions with a solutions-oriented approach.
    • Must exhibit attention to detail and accuracy in record-keeping and communications.
IND123

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