A Collection Executive is responsible for recovering outstanding debts from customers or clients while maintaining positive relationships. They contact debtors, negotiate payment plans, resolve discrepancies, and ensure compliance with company policies and legal regulations. They play a crucial role in maintaining the financial health of the organization by managing overdue accounts and working towards collection targets.
Key Responsibilities:
Debt Recovery:
Contacting debtors via phone, email, or in person to discuss overdue payments.
Negotiation:
Establishing and negotiating suitable repayment plans with debtors.
Account Management:
Maintaining detailed records of all collection activities and updating customer account status.
Customer Relationship Management:
Building and maintaining positive relationships with customers while working towards debt recovery.
Compliance:
Ensuring all collection activities adhere to company policies, legal regulations, and ethical standards.
Problem Solving:
Investigating and resolving customer queries and complaints related to outstanding debts.
Reporting:
Providing regular updates to management on collection progress and identifying problematic accounts.
Escalation:
Identifying and escalating complex cases to senior management for further action.