Collections Specialist

Job Description

Job Description

Position Overview

We are seeking a Collections Specialist to manage delinquent consumer loan accounts while providing a professional and respectful borrower experience. This individual will work directly with borrowers to understand payment challenges, secure payment commitments, identify appropriate resolution options, and ensure accurate account documentation.

The ideal candidate has experience in consumer loan collections, loan servicing, credit administration, or financial services and is comfortable handling a high-volume portfolio and difficult customer conversations.

Key Responsibilities

• Manage assigned delinquency queues and collection campaigns through inbound/outbound calls, written correspondence, and approved digital communication channels.
• Work with borrowers to understand the cause of delinquency, secure payment commitments, and determine appropriate resolution strategies.
• Facilitate approved payment arrangements, extensions, due-date changes, hardship programs, and payment-assistance options.
• Clearly explain account status, amounts due, payment activity, loan terms, and available options.
• Accurately document borrower contacts, promises to pay, hardship information, payment arrangements, decisions, and follow-up actions.
• Monitor delinquent accounts and ensure timely follow-up through established collection and escalation processes.
• Identify accounts involving bankruptcy, deceased borrowers, attorney representation, SCRA, fraud, disputes, complaints, or cease-contact requests and route them appropriately.
• Conduct approved skip-tracing and contact research when appropriate.
• Escalate accounts requiring charge-off review, settlement consideration, recovery activity, or legal review.
• Maintain knowledge of applicable collections, consumer protection, privacy, SCRA, bankruptcy, credit reporting, and fair-treatment requirements.
• Meet established performance and quality expectations, including cure rate, roll rate, promise-to-pay performance, right-party contact, productivity, and documentation quality.
• Participate in audits, quality reviews, training, process improvements, and servicing initiatives.

Required Qualifications

• High school diploma or equivalent.
• 1+ years of experience in consumer loan collections, loan servicing, credit administration, banking, or related financial services.
• Working knowledge of consumer loan products, delinquency management, and risk mitigation practices.
• Strong communication and customer service skills.
• Ability to navigate difficult conversations and de-escalate conflict.
• Strong judgment and decision-making skills.
• Excellent attention to detail, particularly with documentation and compliance.
• Ability to prioritize and manage a high-volume workload.
• Proficiency with Microsoft Word, Excel, and related systems.

Preferred Qualifications

• Knowledge of collection practices and applicable regulations, including FDCPA and consumer protection requirements.
• Experience with loan servicing systems such as Nortridge.
• Previous experience working with consumer loan delinquency and payment-assistance programs.

What We’re Looking For

• A professional communicator who can handle challenging borrower conversations with confidence and respect.
• Someone who is highly organized and comfortable managing a large volume of accounts.
• A detail-oriented individual who understands the importance of accurate documentation and regulatory compliance.
• A solutions-focused professional who can balance risk mitigation with positive customer relationships.