Collection Executive

Job Description: Collection Officer

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A Leading Financial Institution is seeking a highly motivated and results-oriented Collection Officer to join our team. The Collection Officer will be responsible for managing and recovering outstanding debts while maintaining positive customer relationships. This role requires excellent communication, negotiation, and problem-solving skills, as well as a strong understanding of collection regulations and best practices.

Responsibilities:

• Contacting customers via phone, email, and mail to discuss overdue accounts and negotiate payment arrangements.
• Analyzing customer financial situations to determine the best course of action for debt recovery.
• Maintaining accurate records of all collection activities and customer interactions.
• Monitoring payment plans and ensuring timely payments are received.
• Identifying and escalating delinquent accounts to management when necessary.
• Working within established legal and regulatory guidelines, including FDCPA (Fair Debt Collection Practices Act) where applicable.
• Collaborating with other departments, such as customer service and legal, to resolve customer issues and optimize collection strategies.
• Achieving monthly collection targets and contributing to the overall success of the collections department.
• Preparing reports on collection activity, including outstanding balances, recovery rates, and other relevant metrics.
• Staying up-to-date on industry best practices and changes in collection regulations.
• Handling inbound calls from customers regarding their accounts and payment inquiries.
• Skip tracing to locate customers with outdated contact information. (If applicable)
• Potentially working with external collection agencies or legal counsel on escalated accounts. (If applicable)

Requirements

Qualifications:

• High school diploma or equivalent required; a bachelor’s degree in business, finance, or a related field preferred.
• Proven experience in collections, customer service, or a related field ( Freshers can also apply )
• Strong understanding of collection laws and regulations (e.g., FDCPA, TCPA).
• Excellent communication, interpersonal, and negotiation skills.
• Ability to work independently and as part of a team.
• Strong analytical and problem-solving skills. ¹  
• Proficient in using collection software and Microsoft Office Suite (Excel, Word, Outlook).
• Ability to prioritize and manage multiple tasks effectively.
• Strong attention to detail and accuracy.
• Ability to maintain composure and professionalism in challenging situations.
• Excellent listening skills and empathy towards customers.
• Bilingual (English/Other Language) is a plus. (Specify if needed)

Benefits

Benefits:

Salary Up to 25k PM