Collections Specialist Jobs in Oakland, MD
A Collections Specialist in the banking industry is responsible for contacting customers with delinquent accounts, negotiating payments, and keeping accurate records of collections and payment activity. They play a crucial role in maintaining the financial health of the bank by minimizing bad debt losses, improving cash flow, and ensuring compliance with banking laws and regulations related to debt collection. They also liaise with legal departments or external agencies if necessary, to handle defaulted accounts or to resolve legal issues related to debt collection.
Important skills for a Collections Specialist include excellent communication and negotiation skills, attention to detail, familiarity with relevant legal and regulatory guidelines, and proficiency in using collections software. A certification such as Certified Receivables Compliance Professional (CRCP) or Certified Credit and Collections Specialist (CCCS) can enhance job prospects. This position often requires prior experience in roles such as Debt Collector, Customer Service Representative, or Credit Analyst, where one gains skills in dealing with customers, managing credit or collections, and understanding financial statements.
terms of the loan contract, depending on the feasibility and applicability of each case if initial recovery attempts do not secure required payment; extends due dates or refers customers to proper lending...
Demographic Data for Oakland, MD
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Collections Specialist Online Courses and Training Opportunities
Salary for Collections Specialist Jobs in Oakland, MD
Highest Education Level
Collections Specialists in Oakland, MD offer the following education backgroundQualifications / Skill Sets
The following top skills are often required or desired to land a Collections Specialist position
- Billing
- Business Correspondence
- Sage Peachtree
- Reconciliation
- NetSuite
- Accounting Management
- Prioritizing
- Cash Applications
- Enterprise Resource Planning
- VLOOKUP
- Reimbursement
- Restructuring
- Audit Support
- Consumer Lending
- Lending
- BSA
- Account Maintenance
- Automated Clearing House
- Credit Underwriting
- Credit Analysis
- Loan Servicing
- Mortgage Servicing
- Financial Operations
- Account Reconciliation
- Payment Processing
- Reconciliations
- 10 Key
- Resolution
- Accounts Receivable
- Customer Satisfaction
- Finance
- Inbound/Outbound Calling
- Collections
- Accounting
- Listening
- High School Diploma
- Negotiation
- Verbal Communication
- Investigation
- Written Communication
- Microsoft Outlook
- Telephone Skills
- Collaboration
- Documentation
- Interpersonal Skills
- Filing
- Microsoft PowerPoint
- Regulations
- Reporting
- Policy Development
- Sales
- Multitasking
- Microsoft Office
- Problem Solving
- Microsoft Excel
- Time Management
- Research Skills
- Teamwork
- Organization
- Customer Service
- Scheduling
- Leadership
- Communication Skills
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