Collections Specialist

Job description

Description The Collections Specialist is responsible for managing and collecting outstanding accounts receivable balances to support company cash flow and minimize financial risk. This role involves communicating with customers regarding overdue accounts, resolving billing issues, negotiating payment arrangements, and ensuring compliance with company policies and applicable regulations. Essential Functions: - Monitor and manage assigned accounts receivable portfolio to ensure timely payment - Contact customers via phone, email, and written correspondence regarding past-due balances - Investigate and resolve billing discrepancies, short payments, and unapplied cash - Negotiate payment plans and settlements while maintaining positive customer relationships - Process and post payments accurately in the accounting system - Maintain detailed and accurate documentation of collection activities and customer communications - Collaborate with other departments to resolve account issues - Prepare aging reports and provide collection status updates to leadership - Ensure collections activities comply with state and federal regulations (e.g., FDCPA, company policies) - Process account cancell...