Debt Recovery Specialist

Mitsubishi HC Capital America Inc•Itasca, IL

8d•$55,000 - $65,000•Hybrid

About The Position

The Debt Recovery Specialist is responsible for managing and collecting payments on delinquent commercial loan and lease accounts within an assigned portfolio to ensure timely resolution, maximize recoveries, and minimize risk of loss. This role requires proactive customer and vendor engagement, strong analytical judgment, and coordination with internal partners to identify delinquency trends, resolve account issues, and support the overall financial health of the organization. This position is required to possess a comprehensive understanding of and adhere to the system of internal controls associated with the fundamental duties and responsibilities of the role. This includes compliance with SOX and all other pertinent regulatory and compliance policies and requirements.

Requirements

Possesses the ability to understand commercial equipment financing concepts and best practices.
Capable of handling a high volume of daily outbound calls, often using an auto-dialer system.
Adaptable to changes in the business environment, including type and volume of workload, leadership, processes, etc.
Displays good judgement and is a thoughtful decision maker.
Possesses strong verbal and written/email communication skills.
Comfortable utilizing modern tech tools and applications to drive efficiency and productivity.
High school diploma or GED required
1–5 years commercial collections experience required
Intermediate knowledge of Microsoft Excel and Word

Nice To Haves

Associate’s or bachelor's degree preferred, but equivalent professional work experience accepted

Responsibilities

Manage collections follow-up for 11–75 days delinquent commercial accounts through outbound phone calls, emails, and written correspondence.
Develop and execute action plans to cure delinquency while adhering to company policies, SOP’s, internal controls, and applicable regulations.
Negotiate short-term payment resolutions, restructures, extensions, or rewrites when appropriate.
Prepare and send demand, default, and delinquency letters as required.
Identify delinquency trends and root causes; recommend appropriate corrective actions.
Maximize recoveries through customer contact, skip tracing, and collaboration with internal teams.
Coordinate with Credit, Sales, Asset Management, dealers, vendors, and other stakeholders.
Document all interactions accurately and timely in the appropriate system of record.
Provide aging, delinquency, and account status reports to management as requested.
Make recommendations regarding risk mitigation strategies, including repossession of collateral.
Perform additional duties as assigned.