Lead Collections Specialist

4 weeks ago


Mississauga, Ontario, Canada Konica Minolta Full time
Overview

The Lead Collections Specialist role is pivotal in facilitating the organization's global debt recovery and credit risk oversight, ensuring adherence to established corporate guidelines and protocols.

Key Responsibilities

- Oversee all overdue accounts for clients and secure payments through electronic funds transfer, checks, and credit cards, ensuring accurate reconciliation of all open transactions for accounts payable.
- Keep detailed records of all client payment histories, notify clients of their status, and create non-noted lease rental payment schedules.
- Assess the most efficient and cost-effective collection strategies for each account; implement standard due diligence practices to recover owed funds; draft correspondence that requires a comprehensive understanding of collection procedures and dispatch various standard collection notices.
- Inform clients with overdue accounts about appropriate payment plans and the fundamentals of credit ratings.
- Responsible for tracking and managing assigned accounts, handling customer inquiries, making account adjustments, reconciling client accounts, and processing journal entries.
- Deliver customer support concerning collection matters, review and process account modifications, and resolve client discrepancies and short payments.
- Execute all collection activities in accordance with mandated policies and procedures, assist clients in acquiring any necessary documentation (invoices/statements) as requested.
- Formulate an effective payment schedule for all clients by evaluating documentation in collection systems and negotiating payment terms with clients when disputes arise (settlements and payment arrangements).
- Maintain comprehensive records of all collection accounts by reviewing aged trial balances weekly and prioritizing collections on the highest outstanding balances and oldest accounts to mitigate delinquency and bad debt.
- Accountable for minimizing delinquency for assigned accounts.
- Conduct all audit functions and develop corrective action plans for collection processes, collaborating with sales representatives to ensure complete account reconciliation is understood by clients.
- Foster and sustain positive working relationships with both internal and external stakeholders.
- Manage incoming inquiries from the online customer service line to guarantee all calls are addressed by a live agent for assistance.
- Recommend accounts for escalation to collection agencies or legal action; prepare reports of historical data to support necessary actions.
- Focused communication and collaborative team engagement.
- Undertake additional tasks and responsibilities as required to support the Credit Department.
- Provide credit references to clients' suppliers upon request.

Required Qualifications

- Exceptional verbal and written communication abilities.
- Post-secondary education and/or completion of community college courses in accounting or a related field.
- 2-5 years of relevant experience in a collections role.
- Capacity to manage multiple tasks within set deadlines.
- Detail-oriented approach.
- Highly driven, self-motivated team contributor.
- Proficient in PC applications, with experience in word processing and Excel spreadsheet tools (including VLOOKUP, pivot tables, and macros).
- Operates effectively with minimal supervision.
- Experience with ERP Accounting systems (5 years of SAP/S4 experience required).

#KM



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