Collection Executive

Job Summary:

The Collection Officer is responsible for managing the collections process for outstanding customer accounts in a corporate environment. This involves maintaining regular contact with customers, resolving payment issues, and ensuring that overdue payments are collected promptly. The role also requires coordination with internal teams to ensure that customer accounts are properly updated and documented.

Key Responsibilities:

• Customer Account Management

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• Monitor and manage overdue customer accounts by reviewing account aging reports and contacting customers via phone, email, and/or written communication.
• Ensure that customers adhere to agreed-upon payment terms and schedules.
• Resolve customer queries or disputes related to payments in a timely and professional manner.

• Collections Process

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• Follow up with customers on overdue payments, ensuring compliance with company policies.
• Negotiate payment arrangements or settlements based on customer circumstances.
• Prepare and send reminders, invoices, and statements to customers.

• Customer Service

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• Provide excellent customer service while handling sensitive or difficult situations related to outstanding payments.
• Maintain a high level of professionalism when interacting with customers to ensure positive relationships.
• Work with internal departments, such as Sales or Customer Support, to resolve any discrepancies or issues that may arise.

• Documentation & Reporting

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• Accurately document all customer interactions, payment commitments, and disputes in the company's database or collection software.
• Provide regular updates to management on collection activities, including status reports on overdue accounts.
• Maintain and update customer account information and records as necessary.

Required Skills and Qualifications:

• Bachelors degree in Finance, Accounting, Business Administration, or related field.
• Proven experience in collections, customer service, or accounts receivable roles.
• Strong communication skills, both written and verbal, with an ability to manage customer relationships.
• Excellent negotiation skills and a proactive approach to problem-solving.
• Knowledge of collection techniques, payment processing systems, and relevant financial regulations.
• Detail-oriented with strong organizational skills.
• Ability to handle sensitive information and maintain confidentiality.

Preferred Skills:

• Experience using collection software or customer relationship management (CRM) tools.
• Ability to work under pressure and meet deadlines.

Key Performance Indicators (KPIs):

• Timeliness of debt collection.
• Reduction in outstanding accounts.
• Customer satisfaction and dispute resolution success.
• Adherence to collections policies and procedures.