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Collections Officer Job Description
Collections Officers are responsible for managing the collection of outstanding debts from clients and customers. They are hired by businesses and collections agencies to inform customers of their overdue bills and attempt to collect payment to mitigate company losses.
We are recruiting for a Collections Officer to help collect outstanding debts. As Collections Officer you will contact clients and inform them of their debts, negotiate payment plans and ensure payments are made as soon as possible. You will also be required to institute legal action when payments are not made.
To ensure success as a Collections Officer, you should have excellent communication, negotiation, and mathematical skills, as well as attention to detail. A skilled Collections Officer should be able to reduce company losses by encouraging customers to pay their overdue bills.
Collections Officer Responsibilities:
- Review the company debtor list.
- Contact customers and informing them of their overdue bills.
- Advise customers on their payment options and suggesting methods of payments.
- Negotiate suitable payment plans.
- Maintain customer payment records.
- Prepare customer financial statements for banks and the state credit department.
- Write notice warnings to customers when payments are not being made.
- Start legal action when customers fail to pay their debt.
- Respond to customer queries.
- Contact lawyers and insurance agencies to facilitate payments.
Collections Officer Requirements:
- Previous experience working as a Collections Officer.
- Excellent negotiating skills.
- Good written and verbal communication skills.
- Familiarity with state debt collection laws.
- Knowledge of payment plans and accounting procedures.
- Knowledge of office and accounting software.
- Patience and resilience.
- Bachelor’s degree in Accounting, Business Management, or a similar field.