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Collections Specialist Job Description: Top Duties and Requirements

A Collections Specialist, or Collection Clerk, is responsible for collecting payments on overdue accounts and bad cheques, and contacting debtors to make collection arrangements. Their duties include tracing and locating debtors, notifying debtors of overdue payments, and compiling reports relating to collection work.

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Collections Specialist duties and responsibilities

Responsible for resolving internal and external account queries, Collections Specialists are expected to monitor client accounts and notify clients when payments become overdue. Overall responsibility for the collection of accounts receivables lies with the Collections Specialist. Typical duties include:

  • Monitoring and maintaining up-to-date records for client accounts and reviewing accounts in arrears to ensure appropriate actions are taken
  • Notifying debtors of overdue payments and accounts by telephone, mail, and email – including timely follow up if a reply is not received
  • Professional handling of customer inquiries, including providing detailed customer reconciliations and statements as required, resolving payment disputes, and processing payments and refunds
  • Tracing and locating debtors to make payment arrangements
  • Recommending further action or discontinuation of service on occasions where payment is not forthcoming – including liaising with Credit and Sales departments where necessary
  • Preparing reports related to collection work
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Collections Specialist Job Description Examples:

What does a Collections Specialist do?

Collections Specialists are typically employed within accounts receivable departments for various companies such as banks, loan companies, utility companies, and department stores. With overall responsibility for the collection of all accounts receivable, a Collections Specialist will monitor customer accounts, provide customer service regarding collection issues, resolve client discrepancies, and communicate with sales departments regarding customer accounts. Often Collection Specialists may also approve or decline future lines of credit or credit purchases for clients – as they will be best able to review and assess clients’ payment history.

Collections Specialist skills and qualifications

A successful Collections Specialist typically has a combination of accounting and clerical skills, communication and negotiation capabilities, and an analytical eye for detail. Organization and time management skills are imperative to success, as Collection Specialists are often juggling multiple priorities at any given time. Having the ability to assess the tasks at hand, prioritize, and act accordingly will be beneficial in managing the workload. Top skills for Collections Specialists include:

  • Strong clerical and administrative abilities, including proficiency in managing documents, spreadsheets, and databases
  • Strong numeracy skills, particularly with regards to scheduling, budgeting, and accounting
  • Accuracy and attention to detail, with an analytical eye
  • Proficient computer skills, with a good working knowledge of Excel, Google Sheets and other data management software
  • Being a team player and confidently collaborating with Sales, Credit, and various other departments to find solutions to problems
  • Excellent written and verbal communication skills, both within the company and externally with clients
  • Investigative and research capabilities

Collections Specialist experience requirements

Ideal candidates will have one to two years of experience within a Collections Specialist, Accounts Receivables, or Billing role. However, experience within administrative and clerical positions will be beneficial. Entry-level candidates should have a minimum of some experience within one of these areas. Familiarity with accounting processes and software (such as SAP) is an asset. Industry-relevant experience is also a bonus.

Collections Specialist education and training requirements

A high school diploma is required for most Collections Specialist positions. While a period of on-the-job training is often provided for Collections Specialists, a business school diploma or accounting qualifications are an asset. In certain provinces, additional licensing may be necessary. In British Columbia, this is regulated by Consumer Protection British Columbia, and in Yukon, the Professional Licensing and Regulatory Affairs office issues licenses.

Collections Specialist salary expectations

According to Indeed Salaries, a Collections Specialist’s average salary is $38,641 per year in Canada. However, this may vary depending on experience, location, and company.

Job description samples for similar positions

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Collections Specialist job description FAQs

Who does a Collections Specialist report to?

To make your Collections Specialist job description stand out, make sure to include all of the necessary information about the job such as the working hours, location, and salary. Include details such as the type of product or service your business provides, the type of software the Collections Specialist will need to use during their work, and any other special requirements you have, such as financial qualifications.

Job Description Examples

Need help writing a job description for a specific role? Use these job description examples to create your next great job posting. Or if you’re ready to hire, post your job on Indeed.

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