What are the responsibilities and job description for the Collections Specialist position at StenTam?
About Us
Stenson Tamaddon is a technology-enabled financial services firm that helps companies identify, comply with, and maximize incentives from tax credit and economic relief programs.
Our core values are to care personally, challenge directly, have commitment, be bold, and fix over fault. That is what drives our everyday culture. It’s our passion to provide high touch services, optimal client results, and cutting-edge technology.
Position Overview
We are seeking a skilled Collections Specialist to join our Finance team. The Collections Specialist will play a critical role in managing the company's outstanding accounts receivable and ensuring timely and efficient collection of payments. The ideal candidate will possess excellent communication and negotiation skills, a strong attention to detail, and the ability to build positive relationships with customers. As a Collections Specialist, you will contribute to the overall financial health of the organization by minimizing outstanding debts and maximizing cash flow.
Debt Collection:
- Contact customers via phone, email, or letter to collect overdue payments.
- Negotiate payment plans or settlements, ensuring that agreements are documented and followed up on.
- Follow up with customers to ensure payments are made on time.
Account Management:
- Maintain accurate records of all communication with clients, including payment histories, promises, and agreements.
- Update the accounts receivable system with payment status, notes, and any new collection efforts.
Dispute Resolution:
- Address and resolve client complaints or disputes related to overdue accounts.
- Investigate discrepancies or issues regarding charges or invoices.
- Work with other departments (such as billing or customer service) to resolve complex cases.
Reporting:
- Provide regular reports on account status, aging reports, and collection progress.
- Track and report on key performance indicators (KPIs) such as days sales outstanding (DSO) and collection recovery rates.
Customer Relationship Management:
- Maintain professional and positive relationships with clients, even in challenging situations.
- Educate customers on the importance of timely payments and available payment options.
Collaboration:
- Work closely with other departments, such as finance, sales, and customer service, to identify trends and potential issues.
- Assist in the development of strategies to reduce overdue accounts.
Skills and Qualifications:
- Experience: Proven experience in collections, customer service, or a related field.
- Communication: Excellent verbal and written communication skills.
- Negotiation: Strong negotiation skills with the ability to maintain professional relationships while achieving collections goals.
- Attention to Detail: Ability to track multiple accounts and manage large volumes of data.
- Problem-Solving: Strong critical thinking skills to address and resolve disputes and challenges.
- Technical Skills: Proficiency in Microsoft Office Suite (Excel, Word) and experience with accounting or collections software.
- Knowledge: Familiarity with debt collection laws, regulations, and industry standards.
Education:
- High school diploma or equivalent (required).
- Bachelor's degree in finance, accounting, business, or a related field (preferred).
Job Type: Full-time
Work Location: In person
Benefits:
- 401(k)
- Dental insurance
- Health insurance
- Paid time off
- Vision insurance
Schedule:
- 8 hour shift
- Monday to Friday