Collections SpecialistJob Description, Salary, Career Path, and Trends
Collections specialists are a crucial part of their organizations, and essential in ensuring their company’s bottom line. Working with customers and their accounts is at the heart of the collections specialist role. Whether the task is to arrange for debt repayment, advise customers, or answer their questions, collections specialists need to be excellent communicators with strong negotiation skills. They need the ability to work through obstacles to get results.
Collections specialists should also know how to manage many important tasks in an often-busy work environment, as well as working with other team members to help find ways to bring in payments and revenue. In this role, communication is essential, and motivated candidates who work well with people and can see ways to solve problems and break through barriers can thrive.
Sample job description #1
ABC Company is looking for an experienced Collections Specialist with a strong sense of ownership and attention to detail. This Collections Specialist role will be based in the (city, state) region and will be a short-term contract/temporary to hire employment opportunity. If you are looking to apply your talents in a dynamic environment with a group of other talented individuals, apply today!
Pinpoint delinquent customer accounts through various means, e.g. written correspondence, phone contact, skip-tracing, and making arrangements for payment
Update customer files to ensure data integrity
Maintain quality customer service and a positive company image by resolving customer account inquiries
Control inbound and outbound collections calls and correspondence
Correctly process bankruptcy filings when received
Guarantee the processing of payments
Abide by all rules and regulations established by the Federal Fair Credit Reporting Act
Direct all billing and reporting activities in accordance to deadlines
Register all customer payments to the correct reports
2-3 years of prior high volume collections experience
Prior experience working with accounting software
Ability to analyze customer accounts and make decisions based on those analyses
Consumer collections experience desired
Excellent verbal, written, and social communication skills
AA or BS/BA in Accounting preferred
Sample job description #2
Successful Collections Specialists balance their focus on business results with offering options and finding solutions to help our customers.
Duties and responsibilities
Are able to collect on past due accounts
Are very comfortable communicating with customers in a metrics-driven environment
Are able to navigate multiple technologies while staying engaged with our customers
Possess excellent negotiation and decision-making skills; in addition to strong communication skills
Possess strong customer focus with the ability to have detailed conversations with our customers
Treat customers with respect and respond with empathy
Demonstrate sensitivity and compassion in difficult situations
Demonstrate personal excellence including punctuality, integrity and accountability
Have the ability to work independently and in a team environment
Think critically and exercise independent judgement
High School diploma/GED required
Must be willing to work in an environment that requires 100% phone-based customer interaction
Minimum of one year of customer interaction or customer support experience strongly preferred, either by phone or face-to-face
Proficiency with basic computer functions, including mouse and keyboard usage, launching applications, conducting searches on the Internet, and maneuvering in a Windows-based environment, strongly preferred
Collections experience preferred
Sample job description #3
As a Collections Specialist, you will perform collection follow-ups on delinquent and/or non-delinquent accounts for medical facilities in a high volume, inbound and outbound, call center environment. You will utilize excellent communication and customer service skills to resolve patient accounts.
What will you do in this role?
Refer calls/accounts to appropriate parties based on customer inquiries
Identify problem accounts and escalate as appropriate
Update the patient account record to identify actions taken on the account
Work with patients and guarantors to secure payment on outstanding account balances
Maintain minimum production and quality standards
Achieve passing quality review scores per unit requirements
Produce acceptable unit collection volumes
Work within company attendance guidelines
Provide excellent customer service
Practice and adhere to the Parallon “Code of Conduct” philosophy and “Mission and Values Statement”
Attend Privacy and Security Training as required by the HIPAA Awareness Program and comply with all guidelines, policies and procedures to assure sensitive or confidential information is protected in accordance with the HIPAA rules and regulations
High School diploma or GED preferred
Minimum one year of related experience preferred, preferably in healthcare
Average salary and compensation
The average salary for a collections specialist is $37,500 in the United States. While only base salaries are reflected here, commissions and bonuses may greatly increase total compensation. Additionally, salaries will vary based on experience, company size, industry, and geographic market.
Los Angeles, California
Minneapolis-St. Paul, Minnesota
New York City, New York
Sample interview questions
Why are you interested in this position?
What experience do you have working in collections?
What are some of the most challenging aspects of this job?
How would you develop and implement a new collections policy?
What are the consequences for a debtor who does not pay their debt?
How do you handle difficult conversations with debtors?
What kinds of tools are used to collect debts?
How might you use the position’s authority to affect change?
How would your coworkers describe you?
Can you tell me about a time when you had difficulty working on a team?
Can you work weekends if needed?
What is your availability?
Why should we choose you for this position?
What is your preferred management style?
What is your typical daily routine?
How would you describe yourself as a person?
How do you handle stressful situations?
What are some of your best qualities as an employee?
Tell me about a time when you had to deal with a difficult client or customer.
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