Collections Specialist

Job Description

Job Description

Description:

Position Responsibilities

The Collections Specialist will act as the main point of contact for customer concerns related to account delinquency within our Working Capital and Equipment Finance Portfolios. This role involves managing all aspects of early-stage to late-stage collections. The Collections Specialist will demonstrate decision-making skills that have a direct financial impact on the company, balancing customer satisfaction with organizational profitability goals. Ideal candidates will be self-driven, team-oriented, and enthusiastic about contributing to a rapidly expanding business.

Key Responsibilities

• Contact and collect on past due accounts and arrange for timely payments
• Assess and analyze customers’ ability and willingness to pay, assessing their financial hardships
• Respond to all customer communications in a professional and timely manner
• Researches and provides recommendations on customer disputes and complaints 
• Negotiate and document payment plans and/or settlement agreements 
• Make independent decisions on fee waivers and payment plan adjustments, with a keen awareness of their financial impact on the company, to provide flexible, customer-focused solutions that support both retention and revenue objectives
• Coordinate inter-departmental responsibilities to ensure a prompt customer response
• Conduct research and correspondence regarding customer disputes and collection issues
• Enlist the efforts of sales and senior management to accelerate the collection process when necessary
• Prepare daily, weekly, and monthly delinquency notices and reports
• Special projects or other duties, as assigned
• Provide feedback to Management on trends and issues
• Collaborate with sales, management, and partners to increase awareness of problematic accounts and provide input on resolution strategies when requested

Key Performance Indicators

• Outbound call volume
• Cash Collected of the total opportunity to collect
• Delinquency and non-accrual rates
• Call quality 

Requirements:

Skills & Specifications

• Strong communication and negotiation skills
• Excellent problem-solving and decision-making abilities 
• Detail-oriented with strong organizational skills
• Ability to work independently and meet deadlines 
• Proficient in Microsoft Office Suite (Word and Excel) and comfortable working in various software applications

Education & Qualifications

• 2-4 years of experience in a high-volume collections environment preferred
• Based in and able to work out of Marshall, MN office

Company Summary

Channel is a leading provider of equipment finance and working capital funding solutions for small businesses, exclusively through Equipment Finance Companies. Utilizing customized technology and business processes, a strong balance sheet, and risk analytics, Channel provides single-source financing that supports third-party originators and their customers who have business growth opportunities and a need for capital.

Established in 2009, Channel is the only full-service independent lender offering a single-source solution for equipment finance and working capital exclusively through equipment finance companies for their small and midsize business customers. The company is headquartered in Minnetonka, MN, with additional offices in Atlanta, GA, Des Moines, IA, and Marshall, MN. We are proud to be rated a Top Workplace.

Channel empowers and trains team members at all levels to make quick decisions in service to our relationships and ensure the flexibility and nimbleness required to compete in today’s marketplace. Channel is the perfect workplace for those who are motivated and have a desire to be part of a fast-growing, agile, and diverse organization where you can make a difference every day.

The company offers a flexible work environment and encourages innovation and team member development. Benefits include medical, dental, and vision plans with HSA and FSA options; life insurance and disability plans; along with a generous PTO policy and employer-matched company 401K plan.

Salary

$60,000 - $70,000 annually, with bonus potential of $3,500 per month