Collection Associate

Role Summary The Collections Team Member manages outstanding accounts receivable, tracks delinquent accounts, and engages directly with clients to recover overdue payments while preserving positive customer relationships. This role balances firm negotiation, clear communication, and financial reconciliation to minimize bad debt and optimize cash flow.

Key Responsibilities

• Portfolio Management: Monitor assigned accounts receivable balances to identify overdue accounts and track collection progress against monthly targets.
• Customer Engagement: Contact delinquent accounts via phone, email, and formal letters to negotiate prompt payment and resolve past-due balances.
• Payment Structuring: Negotiate payment plans, settlements, or extensions within established organizational credit guidelines.
• Dispute Resolution: Investigate customer billing queries, rate discrepancies, and missing invoice details in coordination with internal billing and sales teams.
• Record Keeping: Maintain detailed, real-time records of all client interactions, payment promises, and collection activities in the CRM/ERP system.
• Financial Reconciliation: Account for incoming payments, process wire/card transactions, and assist in applying payments to correct customer accounts.
• Account Escalations: Identify non-responsive or high-risk accounts and prepare necessary documentation for legal proceedings or third-party collection agencies.

Key Requirements & Qualifications

• Experience: 2 to 3 years of direct experience in business-to-business (B2B) or business-to-consumer (B2C) collections, accounts receivable, or credit control.
• Education: High school diploma required; Bachelors degree in Accounting, Finance, or Business Administration is preferred.
• Technical Skills: Proficiency in MS Excel (VLOOKUPs, Pivot Tables) and experience with ERP/accounting software.
• Communication: Exceptional verbal and written communication skills to handle difficult conversations with tact, firmness, and professionalism.
• Compliance Knowledge: Basic understanding of fair debt collection practices, credit terms, and local financial regulations.
• Problem-Solving: Strong analytical capabilities to reconcile complex accounts and identify underlying payment blockers.

Key Performance Indicators (KPIs)

• Reduction in Days Sales Outstanding (DSO)
• Percentage of aged debt recovered (>30, 60, 90 days)
• Customer dispute resolution turnaround time
• Contact rate and promise-to-pay conversion rate