Collection Officer

Overview:

The Collection Officer plays a vital role in our organization by managing overdue accounts to ensure that outstanding debts are paid. They are responsible for implementing effective strategies to recover outstanding payments from customers and maintaining accurate records of all collections activities.

Key Responsibilities:

Contacting customers to secure payment on overdue accounts

Negotiating payment plans and settlements with customers

Recording accurate and detailed information about collection activities

Researching and analyzing delinquent accounts

Issuing demand letters and final notices to delinquent customers

Handling inquiries from customers regarding their accounts

Collaborating with legal team for litigation activities when necessary

Adhering to all regulatory and compliance requirements

Meeting collection targets and KPIs

Providing regular updates and reports on collection activities

Utilizing collection software and tools effectively

Identifying and escalating accounts requiring further action

Resolving customer disputes and issues

Communicating with internal teams regarding customer accounts

Required Qualifications:

Bachelor's degree in Finance, Business Administration, or related field

Proven experience in collections, credit control, or similar roles

Strong knowledge of debt collection regulations and practices

Excellent negotiation and communication skills

Ability to handle sensitive and confidential information professionally

Proficiency in using collection software and Microsoft Office suite

Attention to detail and accuracy in recording collection activities

Ability to work well under pressure and meet deadlines

Strong problem-solving and decision-making abilities

Customer service-oriented mindset with a focus on customer retention

Excellent organizational and time management skills

Adaptability to changing priorities and business needs

Persistence and determination to achieve collection targets

Knowledge of legal processes related to debt recovery is a plus

Professional certification in credit management or collections is advantageous