Collections Specialist

Collections Specialist

Job Description

The Collections Specialist manages the full lifecycle of accounts receivable activities, with a strong focus on collections oversight, account administration, and relationship management in a B2B environment. This role ensures timely and accurate payment collection, maintains up-to-date customer account records, and collaborates closely with internal teams and customers to reduce financial risk and support healthy cash flow. The Collections Specialist also supports captive accounts, negotiates payment arrangements, and leverages ERP and Excel tools to monitor, analyze, and improve collection performance.

Responsibilities

+ Manage the Accounts Receivable (AR) team inbox and respond to customer and internal inquiries with thorough research and timely follow-up.

+ Monitor and respond to AR-related messages in your personal inbox to ensure no issues or requests are overlooked.

+ Send professional and courteous payment reminders to customers to encourage timely payments.

+ Engage directly with customers to establish, negotiate, and document payment arrangements and plans.

+ Handle incoming calls through the AR phone system and provide accurate information regarding invoices, balances, and payment options.

+ Conduct proactive outreach via phone and email to support collection efforts and reduce past due balances.

+ Supervise pooled collections modules to ensure timely and consistent follow-up on outstanding accounts.

+ Regularly review aging reports to maintain credit and aging thresholds within acceptable limits and identify high-risk accounts.

+ Detect patterns or issues in affiliate payment collections and escalate concerns to appropriate stakeholders when necessary.

+ Collaborate with customers to ensure accurate and timely application of payments to their accounts.

+ Maintain and update customer account information to ensure records are accurate, complete, and current.

+ Complete vendor onboarding documentation as needed to support new customer or affiliate setups.

+ Investigate and resolve invoice discrepancies by coordinating with internal teams such as Operations, Finance, and other relevant departments.

+ Support the cash application process by researching unapplied payments and ensuring they are correctly allocated.

+ Initiate and process customer refunds in accordance with company policies and documented approvals.

+ Evaluate and adjust credit limits to manage affiliate exposure and mitigate financial risk.

+ Monitor and manage account aging to identify potential issues early and reduce overall financial exposure.

+ Coordinate disaffiliation processes across Operations and Finance to ensure deadlines and procedural requirements are met.

+ Apply credits and vouchers to outstanding invoices as appropriate to reduce open balances.

+ Generate and distribute customer account statements on a regular basis or upon request.

+ Escalate bankruptcy or legal concerns to the Legal team or appropriate leadership when required.

+ Compile and submit documentation to the Legal team to support affiliate and customer demand letters.

+ Foster strong customer relationships through professional communication and reliable follow-through to reduce financial exposure and support long-term partnerships.

+ Review late fee waiver requests and escalate them for approval when appropriate.

+ Identify affiliates with outstanding balances and initiate outreach to discuss and resolve open items.

+ Negotiate repayment terms with affiliates while maintaining positive relationships and high service standards.

+ Initiate commission deductions where applicable to offset outstanding balances.

+ Process credit card payments for captive account balances in a secure and accurate manner.

+ Apply available credits and vouchers to reduce open balances on captive accounts and ensure accurate account reconciliation.

Essential Skills

+ At least three years of previous Accounts Receivable and Collections experience in a B2B environment.

+ Proficiency in Microsoft Excel, including Pivot Tables, VLOOKUPs, and formulas for data analysis and reporting.

+

Experience with Net Suite or a similar ERP system to manage accounts receivable and financial operations.

+ Strong knowledge of collections processes, including payment plans, cash application, and reconciliation.

+ Hands-on experience with accounts receivable, account management, and financial operations.

+ Ability to handle credit card payments and apply payments accurately to customer accounts.

+ High level of accuracy and attention to detail in data entry and financial recordkeeping.

+ Strong communication skills for phone and email outreach, customer negotiations, and internal collaboration.

+ Ability to interpret and work with aging reports, credit limits, and financial risk indicators.

+ Organizational skills to manage multiple accounts, inquiries, and deadlines simultaneously.

Additional

Skills & Qualifications

+ Associate's Degree, preferred.

+ Experience working with collections and accounts…