|Title: ||Collections Specialist, Senior|
|Pay Grade: ||32|
|Pay Range |
Purpose of Classification:
|Traces, locates and contacts individuals or organizations to collect overdue monies on all types of university accounts and leads other workers.|
|This is second in a series of two classifications. Collections Specialist, Seniors perform many of the same duties as Collection Specialists but are distinguished by the lead responsibilities, and by a high level of technical knowledge which allows incumbents to act as a resource to Collection Specialists and to independently make decisions and exercise authority within established guidelines and limits. Incumbents also perform specialized functions which require additional experience or specialized knowledge, such as federal student loan regulations.|
Example of Duties:
- Leads the work of others by distributing and balancing workload, demonstrating proper work methods and providing on-the-job training to employees.
- Assists other collectors with difficult or complex accounts and situations, utilizing technical knowledge of collections and procedural or legal guidelines.
- Compiles data and prepares monthly activity reports and, periodically, more specialized reports for management.
- Performs specialized work, such as collection of particular loans requiring specific knowledge of program regulations and performance of non-routine duties, such as student loan regulations and required exit interviews, pre-loan counseling and documentation.
- Determines when an account is to be turned over to a collection agency or for litigation or when to assign a student loan back to federal government; prepares report of historical data to substantiate action to be taken, including payment history and due diligence performed.
- Researches and analyzes accounts prior to initiating debtor contact, examines historical data and evaluates past collection efforts.
- Determines most effective and economical means of collecting for each account; applies standard due diligence practices to collect monies owed; composes correspondence requiring knowledge of procedures and practices in collections and also sends a variety of standard collection letters.
- Advises debtor with past due accounts of proper payment schedules and the principles of credit and credit standings.
- Provides financial counseling to discuss and resolve debt situation; restructures or revises payment terms, recommends deferments, hardships and allowable cancellations or writes promissory notes when appropriate using independent judgment within established limits.
- Applies payments received to proper accounts, keeping accurate accounting records of each transaction; reconciles records with computer reports; makes necessary adjustments or corrections.
- Maintains files on all past due accounts, documenting details of methods utilized to secure payment.
- Contacts customer and establishes reason for past due account situation; makes arrangements for payments to bring account current and follows up to ensure obligation is satisfied.
- Uses computer terminal to access data base for obtaining account status or entering data on assigned accounts; verifies accuracy before and after entry.
Knowledge, Skills, and Abilities:
- Knowledge of government rules, regulations, guidelines and procedures pertaining to federal student loans.
- Knowledge of basics of work leadership or supervision.
- Skill in compiling data and analyzing financial information for decision making purposes.
- Ability to effectively communicate.
- Five years of related collection experience; OR,
- Bachelor's degree in Business Administration or related field AND one year related experience; OR,
- Any equivalent combination of experience, training and/or education approved by Human Resources.