Collections Specialist

Role Overview

We are seeking a highly motivated and detail-oriented Collections Specialist to join our team. In this pivotal role, you will be responsible for managing and recovering outstanding debts while ensuring full compliance with regulatory standards, customer protection principles, and internal collection policies. Your expertise will be instrumental in maintaining the financial health of our organization by effectively following up with customers, resolving payment discrepancies, and achieving monthly collection targets.

Key Responsibilities

The Collections Specialist will play a critical role in the debt recovery process by executing the following responsibilities:

• Regulatory Compliance and Policy Adherence: Thoroughly understand and apply the Customer Protection Principles, Collection Management Policy, and customer collection regulations as mandated by the Saudi Central Bank (SAMA). Ensure all collection activities align with these guidelines to maintain compliance and uphold customer rights.
• Debt Recovery and Target Achievement: Proactively follow up with customers to collect outstanding and overdue debts, striving to meet and exceed the required monthly collection targets. Maintain a disciplined approach to achieve daily targets for contacting delinquent and defaulting customers, as outlined by the Collection Management directives.
• Customer Communication and Inquiry Resolution: Handle customer inquiries related to collections with professionalism and clarity. Provide accurate and timely responses to address concerns, resolve disputes, and facilitate payment arrangements where applicable.
• Team Collaboration and Reporting: Work closely with your direct manager and the Unit Head to align with the broader objectives of the Collection Unit. Adhere to instructions and directives while maintaining open communication to ensure seamless operations and continuous improvement in collection strategies.

Qualifications and Experience

To excel in this role, candidates should possess the following qualifications and attributes:

• Professional Experience: A minimum of 2 to 5 years of experience in collections, customer service, or a related financial field. Prior exposure to debt recovery processes and customer handling practices is highly desirable.
• Educational Background: A diploma degree in Business Administration, Finance, Accounting, or a related discipline. Additional certifications or training in collections or financial services are considered advantageous.
• Core Competencies: Exceptional communication and negotiation skills, enabling you to engage effectively with customers and internal stakeholders. The ability to work under pressure and meet challenging targets is essential, as is a strong attention to detail and problem-solving capabilities.
• Technical Proficiency: Familiarity with collection procedures, financial systems, and customer relationship management (CRM) tools. A basic understanding of accounting principles and regulatory frameworks will further enhance your performance in this role.

Work Environment and Expectations

The Collections Specialist will operate in a dynamic and fast-paced environment, requiring adaptability and resilience. Success in this role hinges on your ability to manage multiple priorities, maintain a customer-centric approach, and consistently deliver results. If you are a proactive professional with a passion for financial integrity and customer service excellence, we encourage you to apply and contribute to our organization’s success.