What are the responsibilities and job description for the Collections Specialist position at IRA Financial?
Job Overview
The Collections Specialist is responsible for contributing to and ensuring the operational success of the billing department. This position plays a crucial role in ensuring timely payment collection and reducing outstanding debts owed to the organization. This position involves contacting clients/customers with overdue accounts, negotiating payment arrangements, and maintaining accurate records of collection efforts. The Collections Specialist must have strong communication skills, persistence, and a firm understanding of collection practices and regulations.
Job Structure Details
- On-Site, Sioux Falls, SD
- Full Time, Monday-Friday, no nights or weekends
- Non-Exempt/Hourly
Benefits
- Health, Dental, Vision Insurance
- 401(k) Employer Contribution of 4%
- Paid Time Off, Volunteer and Birthday Time Off
- Parental Leave
- Paid 30 Minute Lunch
- Catered lunch every Monday
- Monthly 15-minute massage
Job Responsibilities
- Contact clients with overdue accounts via phone, email, or mail to negotiate payment arrangements and facilitate debt resolution.
- Monitor payment statuses and follow up on overdue accounts to ensure timely payment collection.
- Communicate with clients in a professional and respectful manner to address payment issues, resolve disputes, and answer inquiries.
- Negotiate payment plans and settlements with clients based on their financial situations and organizational policies.
- Ensure compliance with relevant laws, regulations, and organization policies governing debt collection practices, including fair debt collection practices and privacy laws.
- Maintain up-to-date knowledge of IRA rules and regulations.
- Work closely with internal teams to ensure seamless experience for clients and support overall business objectives.
- Other tasks as assigned by management.
Job Qualifications
- A high school diploma or equivalent is required.
- Previous experience in collections or customer service is required.
- Commitment to delivering exceptional customer service.
Previous experience with financial software, databases, and Microsoft Office Suite products.
Strong verbal and written communication skills.
Excellent attention to detail and accuracy.
- Ability to prioritize tasks and manage time effectively.
- Ability to work independently and collaboratively in a team environment.
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