Collections Specialist
Job Description
Job Description
We are seeking a dedicated Collections Specialist to join our team in Des Plaines, Illinois. This role supports an industry focused on government contracts and plays a key role in managing receivables related to bids, contracts, and procurement agreements. The ideal candidate will have exceptional attention to detail, strong communication skills, and the ability to ensure compliance with public sector financial policies and procedures.
Responsibilities:
• Oversee receivables related to government bids, contracts, and procurement agreements, ensuring timely follow-up on outstanding balances.
• Collaborate with internal departments and external agencies to facilitate accurate billing and effective collections.
• Review contract terms to validate payment obligations and schedules, addressing discrepancies as needed.
• Engage with vendors, contractors, and partner agencies to resolve payment issues and ensure compliance.
• Maintain detailed documentation of accounts and transactions in adherence to local, state, and federal regulations.
• Provide regular reports and updates on receivables status to management.
• Utilize financial software systems and tools to monitor collections and streamline processes.
• Assist in identifying opportunities to improve collection procedures and reduce outstanding debts.
• Ensure compliance with all relevant policies and guidelines related to public sector contracts.
• Proven experience in collections, accounts receivable, or contract administration; government or public sector experience is highly desirable.• Strong understanding of contract language, payment terms, and financial regulations.
• Proficiency in Microsoft Excel and other financial software systems.
• Excellent communication and negotiation skills to resolve discrepancies effectively.
• Keen attention to detail and ability to manage multiple accounts simultaneously.
• Familiarity with collection processes and billing procedures.
• Knowledge of federal government contracts and subcontractor bids is a plus.
• Strong problem-solving abilities and a proactive approach to managing receivables.
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