The Debt Collection Officer is responsible for managing an assigned portfolio of overdue accounts, recovering outstanding debts, and achieving assigned collection targets. The role requires strong communication, negotiation, follow-up, and problem-solving skills, while maintaining professional and respectful relationships with clients and debtors.
Key Responsibilities
- Manage an assigned portfolio of overdue accounts and take proactive action to recover outstanding balances.
- Achieve and consistently meet monthly and individual collection targets.
- Review account records, payment history, and outstanding balances to determine the appropriate collection approach.
- Contact debtors through phone, email, written correspondence, and other approved communication channels to follow up on outstanding payments.
- Locate and verify updated debtor contact information when required.
- Assess the debtor's financial situation and negotiate suitable payment arrangements, settlement offers, or repayment plans within approved guidelines.
- Follow up on agreed payment commitments and ensure payments are received within the agreed timelines.
- Handle debtor inquiries, concerns, and complaints professionally and work toward practical resolutions.
- Investigate payment discrepancies, account issues, and disputes and coordinate with the relevant internal teams when necessary.
- Maintain accurate and up-to-date records of all collection activities, communications, promises to pay, and payment arrangements in the relevant system/database.
- Build professional and respectful relationships with debtors while maintaining a firm and results-oriented approach.
- Escalate high-risk, disputed, or non-responsive accounts to the Collection Manager as required.
- Identify accounts that may require legal escalation and ensure all required documentation and procedures are completed.
- Ensure all collection activities comply with applicable laws, regulations, company policies, and ethical collection standards.
- Prepare and provide regular updates on portfolio performance, collection progress, and challenging accounts.
- Work closely with the Collection Manager and relevant internal teams to improve recovery rates and resolve outstanding issues.
- Maintain confidentiality and protect all client and debtor information.
Requirements & Qualifications
- Minimum 2 years of relevant experience as a Debt Collection Officer, preferably within a debt collection agency.
- Bachelor’s degree.
- Persuasive communication and strong negotiation skills.
- Ability to effectively manage targets and handle diverse portfolios.
- Organized and detail-oriented.