Job Description

⏰ Shift Schedule & Work Setup:

• Eastern Timezone (Night Shift in PH)
• 100% Remote – work from the comfort of your home
• Applicants should be equipment ready (laptop, headset, etc.) to ensure a smooth start and seamless workflow

🏢 Job Summary:

A Collections Specialist plays a critical role in ensuring that the company’s outstanding balances are collected in a timely and efficient manner. They must have excellent communication and negotiation skills, as well as strong analytical skills. They must also be able to work effectively in a team environment and be able to manage multiple priorities. Additionally, they must have a thorough understanding of collections laws and regulations.

🔑 Key Responsibilities:

• Understand and follow the set of standards and processes that produce a predictable result for the client. You must be aware of and maintain our standards.
• Contacting customers: Responsible for contacting customers who have overdue accounts to remind them of their outstanding balances and to negotiate payment arrangements.
• Resolving disputes: Resolve any disputes or issues related to outstanding balances. This may involve working with customers, other departments within the company, or external parties.
• Recording customer interactions: Maintain accurate and complete records of all customer interactions, including notes on conversations, payment arrangements, and other relevant information.
• Analyzing account data: Analyze account data to identify trends and patterns.
• Developing collections strategies: Develop and implement collections strategies that are aligned with the company's overall financial goals and objectives.
• Participating in cross-functional teams: Work with other departments within the company and ensure that collections processes are properly aligned with other business processes.

Additional Resopnsibilities:

• Maintain accurate and real time timesheets
• Receive mentoring and feedback from peers and others
• Where appropriate, escalate complicated issues to a more senior resource or other appropriate teams
• Actively Participate in Team Huddles, L10 Meetings, One on One Meetings, and any other Team Meetings
• Attend training & team meetings as required
• Ensure work aligns with company standards
• Assist the team members as required.
• Maintain constant and clear communication with clients and colleagues
• Collaborate with all departments to maximize client satisfaction
• Continuously provide feedback to help improve processes and procedures to provide superior service
• Provide or facilitate timely responses and guidance to client requests
• Maintain documentation, processes, and standards through the change management processes
• Maintain an in-depth knowledge of the products and services that are offered
• Additional duties as required
  

Performance Deliverables:

Each employee’s performance is tracked through both leading and lagging key performance metrics:

• Collection Effectiveness Index (CEI): Measures the effectiveness of collections efforts by comparing the total amount collected to the total amount outstanding.
• Days Sales Outstanding (DSO): Calculates the average number of days it takes to collect outstanding payments.
• Collection Rate: Tracks the percentage of overdue accounts that are successfully collected within a given period.
• Aging of Receivables: Analyzes the distribution of outstanding receivables by the number of days past due.
• Average Collection Period: Calculates the average number of days it takes to collect payments after the due date.
• Call Quality and Productivity: Evaluates the quality and productivity of collection calls, measuring factors such as the number of calls made, call duration, and successful payment arrangements.
• Promise-to-Pay Rate: Tracks the percentage of customers who commit to making a payment arrangement during a collection call.
• Bad Debt Ratio: Measures the percentage of outstanding debt that ultimately becomes uncollectible.
• Aging Bucket Improvement: Measures the reduction in the number or value of accounts in older aging buckets.
• Collection Expense Ratio: Compares the cost of collections activities to the amount of debt collected.
• Customer Satisfaction: Measures customer satisfaction with the collections process through surveys, feedback, or ratings.
• Compliance Adherence: Tracks adherence to relevant collection laws, regulations, and company policies.
• Reduction in Delinquency Rate: Measures the percentage decrease in the number or value of delinquent accounts over time.

Requirements

💡 Skills, Knowledge, and Expertise

• Empathy and Customer Service Orientation: Ability to understand and empathize with customers' financial situations while maintaining a professional and customer-centric approach.
• Strong Communication Skills: Excellent verbal and written communication skills to effectively interact with customers, negotiate payment terms, and resolve disputes or issues.
• Negotiation and Persuasion: Proficiency in negotiating payment plans, convincing customers to make timely payments, and resolving delinquencies.
• Active Listening: Ability to actively listen and understand customers' concerns, objections, and reasons for non-payment.
• Problem-Solving Abilities: Aptitude for analyzing customer accounts, identifying potential issues, and developing appropriate strategies to recover outstanding payments.
• Organizational Skills: Strong organization and time management skills to handle a large volume of accounts, prioritize collection efforts, and meet targets and deadlines.
• Resilience and Persistence: Ability to handle rejection, remain persistent in collection efforts, and maintain a positive attitude when faced with challenging situations.
• Attention to Detail: Meticulousness in reviewing account information, ensuring accurate recording of payment details, and documenting collection activities.
• Financial Acumen: Understanding of basic financial concepts, such as credit terms, payment cycles, interest calculations, and the impact of collections on cash flow.
• Compliance Knowledge: Familiarity with collection laws, regulations, and ethical practices.
• Conflict Resolution: Proficiency in handling difficult or escalated customer interactions, resolving conflicts, and maintaining professionalism in challenging situations.
• Data Analysis: Ability to analyze collection data, identify trends, and develop strategies to optimize collection efforts and improve overall performance.
• Computer Proficiency: Competence in using collection software, customer relationship management (CRM) systems, and other relevant tools.
• Demonstrates maturity, accountability, and the ability to work independently with minimal supervision.
• Able to adapt to different management and communication styles while maintaining professionalism and productivity.
• Self-driven and solution-oriented, with the ability to stay organized and proactive in a fast-paced environment.

Benefits

💻 Why You'll Love Working with Us:

• 100% Remote Work: Enjoy the flexibility of working from anywhere!
• Paid Leave: Take time off to recharge, starting upon regularization.
• HMO Benefits: Comprehensive healthcare coverage as soon as you're regularized.
• Government-Mandated Benefits: All statutory benefits such as SSS, PhilHealth, and Pag-IBIG are fully provided.
• Fun & Collaborative Culture: Be part of a dynamic team that values creativity, innovation, and teamwork.

🚨 NOTE:

This is a full-time employment position and NOT an Independent Contractor arrangement. It comes with government-mandated contributions and benefits

A background check is part of our hiring process and will be completed before moving to the job offer stage. We kindly ask applicants to have the necessary details ready in advance to keep things smooth and hassle-free.