Collections Specialist

 

The Collections Specialist is responsible for analyzing delinquent accounts, ensuring timely collection of outstanding payments, implementing recovery strategies and ensuring compliance with regulatory requirements.

This position requires strong analytical skills, attention to detail, and a solid understanding of vehicle financing and credit risk.

Core Responsibilities

• Analyze delinquent accounts and implement recovery strategies.
• Ensure timely collection of outstanding payments and compliance with financial regulations.
• Develop, maintain, and improve collections systems, processes, and management principles.
• Formulate and implement annual collections and risk control plans.
• Review legal and regulatory updates; recommend and implement policy changes.
• Develop and negotiate repayment plans and settlements with customers.
• Recommend accounts for legal action, write-offs, or repossession based on analysis.
• Generate regular reports on aging accounts, trends, and collections performance.
• Collaborate cross-functionally (Risk, Legal, Business Development) to improve collections effectiveness.
• Contact customers via phone/email to recover payments.
• Conduct credit reviews, loan assessments, and post-loan monitoring.
• Participate in legal case management, intellectual property handling, and regulatory coordination.
• Support product development and process improvements with collections insight.
• Implement and promote a strong internal compliance and risk-aware culture.

Key Technical Skills & Tools

• Credit risk assessment and delinquency management
• Financial report analysis and dealer evaluation
• Knowledge of legal processes (repossession, litigation)
• CRM and collections systems
• Predictive modeling and automation tools
• Strong MS Office proficiency (Excel, Word, PowerPoint)

Qualifications & Experience

• Bachelor’s degree in Finance, Accounting, Economics, or related fields (preferred)
• 2–3+ years of relevant experience (automotive finance preferred)
• Knowledge of principles of finance, credit management, commercial banking, and financial analysis
• Familiarity with auto finance industry regulations and collections best practices
• Experience working with commercial vehicle dealers or fleet operators is advantageous

Professional & Core Competencies

• Strong communication and coordination skills (including professional phone etiquette)
• Analytical thinking and problem-solving abilities
• Ability to identify customer risks and take timely actions to mitigate them
• Understanding of macroeconomic trends and their impact on automotive finance
• Knowledge of commercial vehicle products, network structures, and customer operations