Senior Collections Specialist Jobs in Troy, MI at Bank of America

Title: Senior Collections Specialist

Company: Bank of America

Location: Troy, MI

Job Description:Business Overview:Bank of America Global Leasing is the largest U.S. equipment financing company, serving over 59,000 clients worldwide. We have $71 billion in total assets, and have a significant global presence, with nearly 1,000 associates. Together with our affiliated companies*, we provide equipment financing solutions to small businesses, middle-market and large corporations, offering product expertise in government financing and wholesale vendor financing, as well as tailored programs specific to industry segments, including aviation, healthcare, energy services and renewable energy.

Certain products are offered through Banc of America Public Capital Corp, a wholly-owned subsidiary of Bank of America N.A.

Essential Functions:

This position is responsible for the collection management of various Vendor portfolios within the Global Vendor Finance group. This includes both early and advanced stage collections, complex account reconciliations, and negotiating and resolving administrative barriers on large, multifaceted transactions.

Key responsibilities:

Maintain asset quality by reducing the overall delinquencies through the use of sound, effective, and pro-active, commercial collection techniques

Resolution of complex issues impacting delinquencies, using research, reconciliation and analytical skills

Responsibilities to include the following:

Work within a Team of Leasing professionals supporting the Bank of America Global Leasing platform

Ensure that all assigned accounts are thoroughly worked which includes prompt and consistent contact and follow-up by way of phone calls and email

Meet all departmental goals, including overall and individual delinquency targets

Meet collection targets set for late payment interest income

Early identification of contracts that warrant further collection efforts to minimize loss

Prompt notification and escalation of all potential issues to management

Provide all customers with professional and courteous service

Resolve accounts and work with customers to maintain a current payment status by assisting with invoicing concerns, general inquiries, and account reconciliation

Employ excellent verbal communication skills, including listening, probing and negotiating with customers to create a sense of obligation/urgency to resolve delinquency

Maintain an excellent rapport with Vendors, Credit, Operations and Relationship Management personnel

Preferred Education:

Undergraduate degree in business (finance or accounting preferred)

Preferred Work Experience:

Collections professional with 8-10 years of commercial collection experience. Should have basic understanding of commercial equipment leasing.

Preferred Skills:

Proven collection and negotiation skills

Comprehensive commercial collections knowledge

Customer service focus with exceptional attention to detail

Strong analytical, organizational, and advanced problem-solving skills

Extensive research experience and demonstrated skills related to complex billing problems and inquiries

Extensive experience with account reconciliations and administrative obstacles common to large, commercial transactions

Basic accounting knowledge

Clear and articulate oral and written communication skills

Strong computer skills, particularly with excel and report writing – comfortable leveraging all available technology/applications

A self-starter requiring little supervision

Results oriented, able to accomplish objectives in a specified timeframe

Exhibit professional ma…