A Collection Executive is responsible for recovering outstanding debts from clients by contacting them, negotiating payment plans, and maintaining detailed records of collection activities. Key duties include resolving payment discrepancies, ensuring compliance with legal and company policies, and providing regular updates to management. The role requires strong communication and negotiation skills, attention to detail, and the ability to work independently to meet collection targets.
Core Responsibilities
Debt Recovery:
Contacting customers via phone, email, or in person to collect overdue payments.
Negotiation:
Discussing and agreeing on repayment plans and schedules with clients.
Record Keeping:
Maintaining accurate records of all collection activities, transactions, and client interactions.
Compliance:
Ensuring all collection activities adhere to company policies and applicable debt collection laws and regulations.
Problem Solving:
Investigating and resolving customer issues and disputes related to payments.
Reporting:
Providing daily or regular reports to the management team on collection activities, progress, and outstanding debts.
Collaboration:
Working with the finance team to reconcile accounts and implement collection strategies.