Collection Specialist

Overview

This role supports the organization’s Collection Team in managing and improving the collections process to recover outstanding debts while maintaining positive customer relationships.

Collection Specialist Level 3 is a senior-level position responsible for managing the most challenging and high-value accounts within collections. The role involves working directly with customers to resolve outstanding payment issues, including complex negotiations, settlements, payment plans, and (when necessary) referring delinquent accounts to collections agencies and legal aid. The position also includes more extensive data analysis and reporting.

Responsibilities

Customer Interaction

• Communicate with customers through various channels, including phone, email, and written correspondence, regarding complex issues, addressing concerns, resolving disputes, and negotiating payment arrangements.
• Provide professional, courteous customer service while answering questions and addressing concerns.

Account Management

• Handle the most complex and high-value delinquent accounts and make decisions to maximize recovery.
• Monitor, track, and document communications, agreements, and payment activities.
• Coordinate with internal stakeholders (e.g., sales and customer service teams) to resolve customer issues and support timely payment.

Negotiation

• Negotiate mutually acceptable solutions, which may include settlements, discounts, or extended payment terms.

Documentation

• Maintain detailed and accurate records of collection activities, ensuring compliance with legal and regulatory requirements.

Escalation

• Provide regular updates on collection activities and account status to management.
• Determine when to escalate delinquent accounts to a higher level of collections and/or recommend legal actions as necessary.
• Identify and escalate high-risk accounts to management for further action.

Data Analysis & Reporting

• Analyze customer accounts to identify trends and payment behaviors and use data-driven insights to improve collection strategies.
• Generate and analyze collection reports to evaluate the effectiveness of collection efforts.
• Provide insights for process improvement.
• Provide regular updates to management.

Compliance

• Ensure collection activities comply with applicable laws and regulations governing collections activities, including the Fair Debt Collection Practices Act (FDCPA).

Training and Support

• Provide guidance, training, and mentorship to junior collection staff (Level 1 and 2), including support on complex cases and best practices.

Requirements

• Bachelor’s degree in finance, business, or a related field (or equivalent experience).
• At least 3 years of relevant experience in collections (must).
• Fluent English and German language min. B2/C1 (must).
• MS Office fluency (Word, Excel).
• In-depth knowledge of relevant laws and regulations governing collections activities.
• Familiarity with basic accounting principles.
• Proficiency in using collection software and Microsoft Office applications, especially Excel and data analysis tools.
• Experience with collections software or enterprise resource planning (ERP) systems is a plus.

Preferred Qualifications

• Experience with collections software or enterprise resource planning (ERP) systems.
• Multi-lingual is preferred.

Skills & Abilities

• Strong negotiation and communication skills.
• Exceptional problem-solving and analytical skills.
• Attention to detail, accuracy, and strong organizational skills.
• Ability to work well under pressure, meet deadlines, and make sound judgments.
• Ability to prioritize tasks and work in a fast-paced environment.
• Willingness to learn and follow established procedures.
• Ability to collaborate as part of a team.
• Excellent communication and interpersonal skills—able to communicate clearly and effectively verbally, in writing, and via electronic communications with internal and external clients.
• Excellent customer service skills.
• Ability to lead, coach, and mentor individuals or teams.

Physical Demands

• Required to sit for extended periods of time.
• Required to wear a telephone headset to interact with clients and/or associates over the phone for 7+ hours a day.
• Required to type for extended periods of time.
• Required to work with digital displays for 7+ hours a day.

Compensation & Benefits

• Not specified in the provided job description.

Location

• Not specified in the provided job description.