Senior Collections Specialist

Fora Financial is a leading provider of fast and reliable working capital for small businesses through small business loans and revenue-based financing. Being in the business of helping small businesses, servicing our customers with integrity, quality, security, and trust is the foundation of our brand. Our employees are passionate about their work and the success of our organization is driven by the talent we attract. We are seeking an experienced Senior Workout Specialist to manage a portfolio of past-due accounts, lead recovery efforts on complex cases, and help drive process improvements across the collections function. This role requires strong negotiation skills, sound judgment on escalations and settlements, and the ability to work cross-functionally with Finance, Legal, and Customer Service to resolve delinquent accounts while maintaining a positive customer experience. Key Responsibilities Manage a portfolio of delinquent accounts, prioritizing outreach based on risk, balance, and aging Determine suitability of extending work-out plans for programs experiencing financial hardship pertaining to business cash flow. Negotiate and structure repayment plans, settlements, and payment arrangements within approved authority limits Serve as an escalation point for complex, high-value, or sensitive collections cases Gather documentation and perform more complex research, financial analysis, and evaluating risk to mitigate losses. Track and report on key collections metrics & trends Ensure all collections activity complies with FDCPA, state/federal regulations, and internal policies Partner with Finance and Legal on pre-charge-offs, write-offs, and refer for legal or third-party placements, following established policies and procedures Mentor and train junior collections staff on best practices, negotiation techniques, and compliance requirements Identify trends in delinquency and recommend process or policy improvements to reduce future risk Maintain accurate, detailed account notes and documentation in the collections/CRM system Collaborate with Customer Service and Sales to resolve root causes of recurring payment issues Prepare and present regular reporting on portfolio performance to management Required Qualifications Bachelor's degree in Finance, Business Administration, or related field (or equivalent experience) 5+ years of collections experience, including experience with complex, high-balance, or high-risk accounts Strong working knowledge of FDCPA and other applicable collections regulations Proven negotiation and conflict-resolution skills Experience with collections software, CRM systems, and Microsoft Excel Excellent verbal and written communication skills Strong analytical skills with the ability to effectively track, as well as interpret account and portfolio data High attention to detail and comfort working with sensitive financial information Ability to work independently and manage a high-volume caseload Preferred Qualifications Experience with collections CRM, ACH banking, and against performance targets. Experience with skip tracing, bankruptcy accounts, or third-party collections agencies Prior experience mentoring, informally leading & supporting a team, or working as a subject matter expert Bilingual communication skills a plus. Key Skills Negotiation and persuasion Regulatory and compliance knowledge Analytical and data-driven decision-making Emotional intelligence and de-escalation Attention to detail and accuracy Cross-functional collaboration About the Role Fora Financial is a leading provider of fast and reliable working capital for small businesses through small business loans and revenue-based financing. Being in the business of helping small businesses, servicing our customers with integrity, quality, security, and trust is the foundation of our brand. Our employees are passionate about their work and the success of our organization is driven by the talent we attract. We are seeking an experienced Senior Workout Specialist to manage a portfolio of past-due accounts, lead recovery efforts on complex cases, and help drive process improvements across the collections function. This role requires strong negotiation skills, sound judgment on escalations and settlements, and the ability to work cross-functionally with Finance, Legal, and Customer Service to resolve delinquent accounts while maintaining a positive customer experience. Key Responsibilities Manage a portfolio of delinquent accounts, prioritizing outreach based on risk, balance, and aging Determine suitability of extending work-out plans for programs experiencing financial hardship pertaining to business cash flow. Negotiate and structure repayment plans, settlements, and payment arrangements within approved authority limits Serve as an escalation point for complex, high-value, or sensitive collections cases Gather documentation and perform more complex research, financial analysis, and evaluating risk to mitigate losses. Track and report on key collections metrics & trends Ensure all collections activity complies with FDCPA, state/federal regulations, and internal policies Partner with Finance and Legal on pre-charge-offs, write-offs, and refer for legal or third-party placements, following established policies and procedures Mentor and train junior collections staff on best practices, negotiation techniques, and compliance requirements Identify trends in delinquency and recommend process or policy improvements to reduce future risk Maintain accurate, detailed account notes and documentation in the collections/CRM system Collaborate with Customer Service and Sales to resolve root causes of recurring payment issues Prepare and present regular reporting on portfolio performance to management Required Qualifications Bachelor's degree in Finance, Business Administration, or related field (or equivalent experience) 5+ years of collections experience, including experience with complex, high-balance, or high-risk accounts Strong working knowledge of FDCPA and other applicable collections regulations Proven negotiation and conflict-resolution skills Experience with collections software, CRM systems, and Microsoft Excel Excellent verbal and written communication skills Strong analytical skills with the ability to effectively track, as well as interpret account and portfolio data High attention to detail and comfort working with sensitive financial information Ability to work independently and manage a high-volume caseload Preferred Qualifications Experience with collections CRM, ACH banking, and against performance targets. Experience with skip tracing, bankruptcy accounts, or third-party collections agencies Prior experience mentoring, informally leading & supporting a team, or working as a subject matter expert Bilingual communication skills a plus. Key Skills Negotiation and persuasion Regulatory and compliance knowledge Analytical and data-driven decision-making Emotional intelligence and de-escalation Attention to detail and accuracy Cross-functional collaboration Benefits of working at Fora Financial Company-subsidized medical, dental, and vision plans. 401(k) plan with company match. Life insurance at no cost to employees. Generous time off plan, including rollover vacation days. Health care and dependent care flexible spending accounts. Commuter benefits. Hybrid working model. Weekly breakfast, snacks, and Friday lunches provided onsite. Compensation and Logistics Hybrid working model Salary range $70,000-$100,000 About Fora Financial Fora Financial is a technology enabled, leading provider of flexible financing to small and medium sized businesses. Since our inception in 2008, we have supported more than 55,000 merchants nationwide with over $4 billion of capital used for a variety of purposes, from funding everyday operating expenses to managing cash flow gaps to facilitating business expansion, and much more. Leveraging our proprietary technology, Fora Financial is able to deliver capital to our customers via a streamlined and simple process that can be completed in as little as 24 hours, compared with the weeks or even months it often takes for a business to receive a bank loan. Over the past seventeen years, Fora Financial has grown from two founders in a small Manhattan workspace to a company of nearly 200 employees. Fora Financial prides itself on being a partner-centric organization, offering a customized funding approach, collaborating with our small-business customers to understand their needs in a dynamic and ever-changing economic environment. We offer a competitive salary, growth potential, and a casual yet professional hybrid work environment. Located in the heart of midtown Manhattan, you can enjoy lunch downstairs listening to the summer band series or around the corner in Bryant Park. After work, you can hop on a Citi Bike to ride to the Hudson River Park, take a stroll to a show on Broadway or attend an event at Madison Square Garden. Our office sets the stage for our employees’ success and well-being. We provide all the tools and support needed to maximize your career potential, in addition to perks and extras like daily breakfasts, endless snacks, catered lunches, a chill lounge/games area and more. While we work very hard, we do not take ourselves too seriously. We enjoy a family-like camaraderie that fosters a passion for success in each Fora Financial Team member. The Benefits of Working for Fora Financial: Opportunity for Advancement Medical, Dental, Vision Coverage 401k Plan with Company Match Gym Reimbursement for Employees on Medical Plans Life Insurance at No Cost to Employees Generous Time Off Plan Flexible Spending and Commuter Benefits Fora Financial is an Equal Opportunity Employer. We are committed to fostering a diverse and inclusive workplace where all individuals are treated with respect and dignity. We do not discriminate on the basis of race, color, religion, sex, gender identity, sexual orientation, national origin, disability, age, veteran status, or any other legally protected status under local, state, or federal law. Fora Financial provides reasonable accommodations for qualified individuals with disabilities. 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