POSITION SUMMARY
The Collections Specialist plays a crucial role in a company's financial operations by managing the collection of outstanding accounts receivable and ensuring timely payment from customers. This position requires exceptional attention to detail, excellent communication skills, and a firm yet diplomatic approach to debt recovery. The Collections Specialist will collaborate closely with various departments, including sales, customer service, and accounting, to maintain strong customer relationships while diligently pursuing past-due accounts.
ABOUT CARDONE VENTURES
Our mission is to help business owners achieve their personal, professional, and financial goals through the growth of their businesses. We work in dozens of verticals and provide strategic business guidance through courses, live events, partnerships, and investments. Our core values are the backbone of our business and guide our hiring process: we are inspirational, disciplined, accountable, transparent, aligned, and results oriented. This company operates nationally and is growing by the day.
SUCCESS LOOKS LIKE
- Reducing time to collect overdue balances due to identifying potential payment issues early and collaborating with customers to establish solutions
- Clients are more willing to comply, minimizing the need for escalations, resulting in an overall decrease in the average days to collect and fewer cases reaching legal collection stages.
OBJECTIVES
- Allocate time to analyze and identify accounts with the highest outstanding balances or those at risk of severe delinquency. Devote focused efforts to these accounts by initiating contact, negotiating payment terms, and following up consistently to secure payments
- Maintains meticulous records of all collection activities, communications, and payment arrangements, ensuring that all data is up-to-date, easily accessible, and accurate, leading to seamless internal audits and reviews.
- Regularly track key performance indicators (KPIs) such as days sales outstanding (DSO), collection rate, and dispute resolution time to identify trends, adjust strategies, and provide actionable reports to management that reflect the effectiveness of the collections efforts.
- Regularly review customer accounts to identify discrepancies, resolve billing issues, and update payment records
- Investigate and resolve invoice disputes pricing discrepancies, and delivery issues to expedite payment resolution
- Cultivate positive relationships with customers, demonstrating empathy and understanding while ensuring adherence to payment terms
- Generate reports on collections activities, debt recovery progress, and outstanding balances for management review
- Record payments accurately, update customer account information, and allocate funds to appropriate invoices
- Implement more efficient workflows that reduce the time between invoice issuance and payment collection, while ensuring accuracy and compliance with company policies
- Collaborate with sales, finance, and customer service teams to gather insights on customer behavior, resolve disputes, and ensure all teams are aligned on collection strategies. Regularly participate in meetings to discuss at-risk accounts and develop joint strategies to improve payment rates
COMPETENCIES
- Strong ability to track and manage accounts receivable, including monitoring overdue accounts and initiating collection efforts.
- Ability to build positive relationships with customers while handling delicate collection situations professionally
- Ability to negotiate payment arrangements with customers to secure timely and satisfactory resolution of outstanding debts
- Can effectively resolve issues related to payment discrepancies, disputes, and complex collection cases
- Competent in organizing and prioritizing collection activities to maximize efficiency and productivity
- Proficiency in assessing collection strategies' effectiveness to make data-driven decisions
- Ability to remain composed and persistent in challenging collection scenarios, while maintaining a high level of professionalism and empathy towards customers
- Strong organizational skills and attention to detail to manage a large volume of customer accounts
- Demonstrated problem-solving skills to resolve payment issues and disputes efficiently
EDUCATION AND EXPERIENCE
- High school diploma or equivalent; a degree in finance, accounting, or related fields may be preferred
- Proven experience in collections, accounts receivable, or a similar finance role
- Proficiency in using financial software and customer relationship management (CRM) systems
10X TOTAL REWARDS
We offer a comprehensive benefits package for full-time employees that includes:
- Medical, dental, and vision for FT positions and their dependents
- Vacation and sick time policy that increases based on tenure with the company
- Three work from home days per month (4/month during June-August)
- Employee Assistance Program through Guardian
- 401k with Company match (estimated to launch in Q1 2025)
- Pet Insurance through SPOT for your 10X pets!
- Competitive parental leave policy: 100% paid - 8 weeks for primary caregiver, and 4 weeks for secondary caregiver + 1 month remote for both
- Employee wellness initiatives including a 100% paid for gym membership and access to discounts on local meal prep services
- Professional Development through reimbursements for courses/certifications outside of CV, and a 10X Mentorship Program
- Continued Education: we provide team members complete access to our range of educational resources valued at over $250,000 in areas such as Sales, Operations, People, Finance and Marketing
- Uncapped Commission Potential: all of our team members have the opportunity to sell our Products/Services (and are trained on how to do so). We have several examples of non-sales team members earning well over $20,000 in annual commission
PHYSICAL REQUIREMENTS
- Prolonged periods of time sitting at a desk or computer
COMMITMENT TO DIVERSITY
As an equal opportunity employer committed to meeting the needs of a multigenerational and multicultural workforce Cardone Ventures recognizes that a diverse staff, reflective of our community, is an integral and welcome part of a successful and ethical business. We hire local talent at all levels regardless of race, color, religion, age, national origin, gender, gender identity, sexual orientation or disability, and actively foster inclusion in all forms both within our company and across interactions with clients, candidates and partners.
If this position caught your eye, send us your resume! For best consideration, include the job title and source where you found this position in the subject line of your email to careers@cardoneventures.com. Already a Cardone Ventures candidate? Please connect directly with your recruiter to discuss this opportunity.