Conduct extensive skip-tracing and work in conjunction with outside partners (repo and collections) n efforts to locate obligors, secure payment, and collateral * Assume responsibility for all out ...
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Conduct extensive skip-tracing and work in conjunction with outside partners (repo and collections) n efforts to locate obligors, secure payment, and collateral * Assume responsibility for all out ...
Entry Level Collections Skip Tracing information
What is an entry level collections skip tracing job?
Entry level collections skip tracing jobs involve locating individuals who have defaulted on debts and are difficult to contact. Skip tracers use various resources like public records, databases, and online tools to track down people who have skipped out on their financial obligations. These roles typically require strong investigative skills, attention to detail, and effective communication abilities. Entry-level positions may provide on-the-job training for using specialized software and tools. The main goal is to gather up-to-date contact information to assist collections agents in recovering owed funds.
What are the key skills and qualifications needed to thrive as an entry level collections skip tracing specialist, and why are they important?
To thrive as an Entry Level Collections Skip Tracing Specialist, you need strong analytical skills, attention to detail, and a high school diploma or equivalent. Familiarity with skip tracing tools, databases, and customer relationship management (CRM) software is typically required. Excellent communication, persistence, and problem-solving abilities help you effectively locate debtors and negotiate resolutions. These skills are essential for maximizing recovery rates, maintaining compliance, and ensuring successful outcomes in the collections process.
What are the main challenges faced by entry level collections skip tracing professionals, and how can they be overcome?
Entry Level Collections Skip Tracing professionals often encounter challenges such as locating individuals with outdated or incomplete contact information and handling cases where debtors are intentionally evasive. Success in this role requires persistence, attention to detail, and effective use of databases and online research tools. New team members can overcome these challenges by collaborating closely with experienced colleagues, following established investigative procedures, and continuously developing their research and communication skills. Regular training and feedback from supervisors also play a crucial role in building confidence and efficiency.
What is the difference between Entry Level Collections Skip Tracing vs Entry Level Debt Collector?
| Aspect | Entry Level Collections Skip Tracing | Entry Level Debt Collector |
|---|---|---|
| Credentials | Basic high school diploma, some roles may prefer familiarity with skip tracing tools | High school diploma or equivalent, training provided on debt collection laws |
| Work Environment | Office-based, involves research and data analysis | Office or call center, involves outbound/inbound calls |
| Industry Usage | Financial services, debt recovery agencies | Debt collection agencies, financial institutions |
| Job Focus | Locating individuals using skip tracing techniques | Contactting debtors to recover owed funds |
While both roles involve working with debt recovery, Entry Level Collections Skip Tracing primarily focuses on locating individuals using investigative techniques, whereas Entry Level Debt Collector emphasizes contacting debtors to recover payments. Understanding these differences helps job seekers target the right position based on their skills and interests.
Full-time
Medical, Dental, Vision, Retirement, PTO
Re-posted 6 days ago
Job description
Position Overview: The company is looking for a motivated and experienced portfolio management professional skilled in mid-stage collections and recovery activities. The Debt and Asset Recovery Specialist responsibilities include (but are not limited to) collection of delinquent accounts through phone/written correspondence, skip-tracing, repossession requests/submissions, managing contracts out for repo, account escalation, and submittal of legal recommendations as warranted. This role ensures the effective coordination of late-stage collections, asset recovery, and risk mitigation strategies. The ideal candidate must be positive, focused, a team player, and possess strong time management, multitasking, and negotiating skills.
Commitment to Internal Control:
The incumbent accepts the responsibility for establishing and maintaining the internal control system associated with the essential duties and responsibilities of the functional areas that the incumbent manages.
Essential Duties and Responsibilities: (List in order of time spent)
- Strive to mitigate loss and maximize recoveries through proactive management of assigned problem account queue, performing all collection and recovery activities timely and accurately
- Conduct extensive skip-tracing and work in conjunction with outside partners (repo and collections) n efforts to locate obligors, secure payment, and collateral
- Assume responsibility for all out for repossession accounts until collected current or default cured.
- Prepare and present account status reports to management upon request
- Assist our Collections Team by issuing door knockers and field assignments prior to repo assignment
- Assign accounts to our repo companies based on the best probability of recovery and reassign as necessary
- Coordinate with Collections, Asset Management, and Legal to effectively utilize all resources to reach account resolution
- Create complete and thorough documentation so that the file can be handed to asset management for remarketing purposes
- Document all interaction with customers and outside agencies to ensure tracking and reporting accuracy
- Make next-step recommendations to management team including litigation, abandonment, and charging off
- Seek workout and repayment opportunities with obligors; working with customers to restructure, reschedule, rewrite, or extend payments.
- Handle all invoice resolutions to make sure bills are paid in a timely fashion
- Furnish proper customer facing written communications such as demand and notice of private sale.
- Conduct routine audits of repossession efforts; routinely seek updates from partners
- Address third-party repair liens or competing interests
- Ensure compliance with laws and internal policies
- Participate in continuous improvement initiatives for processes and policies
- Handle any miscellaneous duties as assigned.
KPI’s (Key Performance Indicators):
- Routine agent performance indicators include effort and effectiveness measures
- Call center performance
- Account touches
- Account resolutions
- Repossession activity reporting
- Message and follow up activity
- Quality Control and monitoring
- Support & Guidance to Team Members
- Availability for daily questions and approvals
- Accuracy and completeness of case files.
- Compliance with internal standards and external regulations
- Complex Case Handling
- Strategic decision-making in sensitive scenarios
- Training & Development
- Escalation management and workflow continuity
Responsibility and Decision-Making Authority:
Acts independently within company policy. Makes decisions on recovery strategies, team operations, and resource allocation
Management/Supervisory Responsibilities:
N/A
Qualifications:
- Solid working knowledge of MS Excel and MS Word preferred
- Bilingual in English & Spanish a plus
Competencies:
- Strategic thinking and problem-solving
- Strong interpersonal and negotiation skills
- Risk assessment and decision-making
- Excellent communication and organizational skills
- Desire to work in a team environment
- Forward thinking/adaptability – must be able and willing to adapt; strive for process improvement
- Time management - the ability to organize and manage multiple priorities
- Attention to detail
Education and Experience:
- 3 years collections experience (commercial preferred)
- 1-2 years of credit experience preferred but not required.
- College Degree preferred but not required.
Licensing and Certification:
- N/A
Tools and Equipment Used:
- Personal computer, copier, phone, and other typical office equipment
Working Hours/Locations:
- Hours may vary and may require some evening work; frequently requires working 40-45 hours/week depending on business needs.
Travel:
- Occasional travel related to attendance at industry seminars
Physical Demands:
- Digital dexterity and hand/eye coordination in operation of office equipment
- Light lifting and carrying of supplies, files, etc.
- Ability to speak to and hear customers and/or other employees via phone or in person.
- Body motor skills sufficient to enable incumbent to move from one office location to another
The job description does not constitute an employment contract, implied or otherwise, other than an “at will” relationship and is subject to change by the employer as the needs of the employer and requirements of the job change.
The position is exempt and the salary will be between $57,200.00 and $63,400.00 with an opportunity to earn a discretionary annual bonus.
The salary range is determined and based on internal equity, market data/ranges, applicant's skills, prior relevant experience and education.
Additional benefits:
- Medical, Dental, and vision plans
- 401(k) and matching
- Paid Time Off
About Mitsubishi HC Capital America
Sourced by ZipRecruiter
Industry
Finance and insurance
Company size
51 - 200 Employees
Headquarters location
Norwalk, CT, US
Year founded
2021