Collections Specialist

Overview

The Collections Specialist plays a vital role in managing overdue customer payments to ensure timely collections while fostering positive customer relationships and minimizing financial losses due to credit issues.

Key Duties

• Initiate follow-ups with customers through calls, emails, and other communication channels regarding outstanding payments.
• Keep track of assigned accounts by maintaining detailed records of balances and collection activities.
• Arrange and negotiate payment plans with customers; monitor adherence to agreed schedules.
• Identify overdue or high-risk accounts and escalate complicated cases when necessary.
• Address customer queries and resolve payment concerns professionally.
• Collaborate with Finance, Sales, and Customer Service departments to rectify billing and payment discrepancies.
• Generate periodic collection reports updating on the status of receivables.
• Ensure all collection actions are aligned with company policies and relevant legal regulations.
• Document all customer interactions and payment promises accurately.
• Contribute to initiatives designed to enhance collection efficiency and reduce overdue accounts.

Qualifications

• A bachelor's degree in Finance, Accounting, Business Administration, or a related discipline is essential.
• Between two to four years of experience in collections, accounts receivable, credit management, or related roles.
• Excellent communication and negotiation capabilities.
• Solid understanding of collection procedures and receivables management.
• Strong skills in follow-up actions and solving collection-related problems.
• Proficient with Microsoft Excel and Microsoft Office suite.
• Ability to work effectively under pressure and meet collection targets.
• Good command of English; proficiency in Arabic is considered an advantage.