Collections Specialist at undefined

About the Role:

The Collections Specialist plays a critical role in managing and optimizing the accounts receivable process within the transportation and warehousing industry. This position is responsible for ensuring timely collection of outstanding payments while maintaining positive relationships with clients and partners. The Collections Specialist will analyze customer accounts, identify delinquent payments, and implement effective collection strategies to minimize financial risk. They will collaborate closely with internal teams such as billing, customer service, and finance to resolve disputes and discrepancies efficiently. Ultimately, this role contributes to the company’s cash flow stability and supports overall financial health by reducing overdue balances and improving collection rates.

Minimum Qualifications:

• Bachelor’s degree in finance, business administration, or related field.
• 3+ years proven experience in collections, accounts receivable, or credit management, preferably within transportation, logistics, or warehousing sectors.
• Strong knowledge of billing and invoicing processes, as well as relevant financial software and databases.
• Excellent communication and negotiation skills with the ability to handle difficult conversations professionally.
• Basic understanding of relevant laws and regulations governing debt collection practices.
• Experience with investigating deviances and off balances.
• Experience using transportation management systems (TMS) or enterprise resource planning (ERP) software, Great Plains, Concur, etc.
• Familiarity with credit analysis and risk assessment techniques.
• Certification in credit and collections (e.g., Certified Credit and Collection Professional) a plus.

Responsibilities:

• Monitor and review customer accounts to identify overdue invoices and outstanding balances.
• Initiate contact with customers via phone, email, or written correspondence to request payment and negotiate payment plans when necessary.
• Investigate and resolve billing discrepancies or disputes in collaboration with internal departments and customers.
• Maintain accurate records of collection activities, customer communications, and payment agreements in the company’s financial systems.
• Prepare regular reports on collection status, aging accounts, and recovery efforts for management review.
• Ensure compliance with company policies, industry regulations, and legal requirements related to collections.
• Work proactively to identify potential credit risks and recommend appropriate actions to mitigate financial exposure.

Skills:

1. The Collections Specialist utilizes strong communication and negotiation skills daily to engage with customers and resolve payment issues effectively. 
2. Analytical skills are essential for reviewing account statuses, identifying trends, and determining appropriate collection strategies.
3. Proficiency with financial software and databases enables accurate tracking and documentation of collection activities, ensuring transparency and accountability. 
4. Knowledge of industry-specific regulations ensures that all collection efforts comply with legal standards, protecting the company from potential liabilities.
5. collaboration and problem-solving skills facilitate coordination with internal teams to address disputes and improve overall collection processes.
6. Demonstrated ability to work independently and as part of a cross-functional team.
7. Strong problem-solving skills and attention to detail.