First Party Recovery Collections Specialist
KeyBank is a financial institution seeking a First-Party Recovery Collections Specialist responsible for managing and recovering delinquent accounts. The role involves contacting customers to resolve past-due balances, negotiating payment arrangements, and ensuring compliance with banking regulations and internal policies.
Responsibilities
- Contact customers via phone, email, and written correspondence to collect on delinquent accounts
- Negotiate payment plans and settlements in accordance with bank policies
- Document all collection activities accurately in the bank’s systems
- Educate customers on account status, payment options, and consequences of non-payment
- Collaborate with internal departments (e.g., customer service, fraud, escalations) to resolve account issues
- Monitor and follow up on payment arrangements to ensure compliance
- Maintain knowledge of federal and state collection laws, including FDCPA and other applicable regulations
- Meet or exceed monthly recovery targets and performance metrics
- Handle sensitive customer information with confidentiality and professionalism
Skills
- High school diploma or equivalent is required
- Minimum 1 year of experience in a customer service/collections call center is required
- Strong negotiation skills and communication skills to highlight the benefits of customers paying their debt
- Ability to follow a schedule that is set by management for breaks and lunches and to limit time away from the phones when scheduled
- Ability to work in a fast-paced, goal-driven environment
- Proficiency in Microsoft Office and collection software systems is a plus
- Knowledge of banking regulations and recovery practices is a plus
Company Overview