Collections clerk job description
/The collections clerk position is accountable for collecting the maximum amount of overdue funds from customers , which may include a variety of customer location techniques, collection methods, legal claims, and the selective use of outside collection services.
Principal Accountabilities
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Stratify collection activities to maximize cash receipts
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Issue dunning letters to overdue accounts
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Use skip tracing techniques to locate customers
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Contact customers regarding overdue accounts and determine reasons for non-payment
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Issue payment commitment letters
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Negotiate the return of unpaid merchandise
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Repossess merchandise when payment is unlikely
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Monitor cash on delivery or COD roll payments
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Issue credit hold notifications
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Coordinate customer credit changes with the credit department
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Recommend that accounts be shifted to a collection agency
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Process small claims court complaints
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Recommend bad debt write-offs
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Maintain accurate records about the customer payment status
Collections Clerk Experience Requirement
Some collections clerks are extremely skilled in their ability to collect overdue funds from customers, irrespective of how much experience they might have. Nonetheless, it is generally best to look for job candidates who have several years of experience in the position; these people are more likely to understand the collection process and the techniques that are most likely to extract funds from delinquent customers.
Desired Qualifications
Must have experience with an automated telephone dialing system and collections database. Associate's degree in business preferred. Must be detail oriented, with the ability to work independently.
Physical Requirements
This person must be willing to sit at a desk and work for long periods of time at a computer.
Supervises
None
Collections Clerk FAQs
What performance measures are commonly used to evaluate a collections clerk?
Common performance measures include days sales outstanding, collection rate, amount collected, reduction in overdue balances, aging improvements, and bad debt trends. Managers may also evaluate the timeliness of follow-up, accuracy of records, dispute resolution success, and professionalism in dealing with customers during collection activities.
