Collections Specialist, Office of the Bursar - UT Chattanooga

University of Tennessee•Chattanooga, TN

7d•Onsite

About The Position

The Collections Specialist is responsible for all university bad debt collections which include Perkins loans, Student and Staff account receivables, returned checks and other university department requests. This role involves all aspects of bad debt collections for the University, both written and verbal, including counseling students and loan borrowers to resolve their outstanding debts. The specialist will also make payment arrangements for employees with outstanding balances prior to payroll deduction and with debtors to avoid further collection action. Additionally, the role assists with reviewing bankruptcies, documents, and any other request from the university general counsel for any subpoenas, garnishments or legal request. The specialist follows up with consolidation requests for all student loan borrowers and assists with processing paperwork for loans as required by the Federal Government. This position is responsible for referring non-collected accounts to various outside Collection agencies, including monitoring collection reports, payments, and the explanation of debts referred. The Collections Specialist serves as the primary contact for our third-party collection vendors and provides backup for the Assistant Bursar/Loans in receipting loan payments, assisting borrowers with their student loan consolidation, entrance, and exit interview paperwork. The role also reviews holds for off-boarding employees and updates the Bursar prior to submission, prepares accounts during fiscal year end for write off request and approval, and ensures accounts are monitored, returned, and documented prior to write off request. Finally, the specialist enters, balances, and reconciles write-off accounts in BANNER Student information system after approval, monitors write-offs and holds as they are paid, and assists with all aspects of student fees during peak periods in the Bursar’s office.

Requirements

Requires a high school diploma
2 years of experience in collections within a college or an office setting handling multiple-job tasks
Familiar with policies for student loans, student fees, and installment plans
Good organizational and computer skills
Ability to multi-task
Able to work well with the public and other team members
Strong written and verbal communication skills, including phone etiquette

Nice To Haves

Bachelor’s degree in a relevant field
2 years in collections or collecting bad debt
1-2 years working in higher education

Responsibilities

Responsible for all aspects of bad debt collections for the University, both written and verbal, including counseling students and loan borrowers to resolve their outstanding debts.
Makes payment arrangements for employees with outstanding balances prior to payroll deduction
Responsible for making payment arrangements with debtors to avoid further collection action
Assists with reviewing bankruptcies, documents, and any other request from the university general counsel for any subpoenas, garnishments or legal request
Follows up with consolidation request for all student loan borrowers
Assists with processing paperwork for loans as required by the Federal Government
Responsible for referring non-collected accounts to various outside Collection agencies, including monitoring collection reports, payments, and the explanation of debts referred
Serves as the primary contact for our third-party collection vendors
Provides backup for the Assistant Bursar/Loans in receipting loan payments, assisting borrowers with their student loan consolidation, entrance, and exit interview paperwork.
Reviews holds for off-boarding employees and updates the Bursar prior to submission
Prepares accounts during fiscal year end for write off request and approval
Ensures accounts are monitored, returned, and documented prior to write off request
Enters, balances, and reconciles write-off accounts in BANNER Student information system after approval
Monitors write-offs and holds as they are paid
Assists with all aspects of student fees during peak periods in the Bursar’s office