Position Overview The Collections and Student Recovery Specialist provides collections services, account research activities financial counselling and degree completion outreach to students at Colleges and Universities of Ambow Education Inc. The purpose of the role is to assisting active and inactive students further in finding ways to support the financial obligations incurred in funding their Higher Education aspirations. This position is responsible for supporting the policies and procedures established by the institution for management of Accounts Receivables and ensuring institutional compliance to guidelines and federal and state regulations governing the management of accounts receivables and collections activities. This position also supports the student recovery goals of the institution related to a portfolio of inactive accounts that require outreach to assist in degree completion goals. The Collections and Student Recovery Specialist will report directly to the Bursar.
- Maintains and coordinates the payment of tuition and fees and assist the student finance goals by providing bout proactive and preventative outreach to educate students on options available to aid in their respective financial situations.
- Perform periodic review of student’s receivables, identify students with inadequate external funding and perform outreach to resolve.
- Administrator for the institutions in house payment plan system with responsibility for ensuring compliant configuration of all systems, correspondences, documentation and retention activities and ensuring delinquency remains below established threshold.
- Coordinates the referral of accounts to collection agencies and other external entities involved in supporting the institutions receivable management targets.
- Reviewing and recording promissory notes to billing system and preparing journal entries for recording to general ledger system.
- Respond to varying communications from students including e mail, phone calls and regular mail and provide timely resolution to student inquiries.
- Monitoring borrower payment activity and performing collection activity as appropriate
- Processing documents for assignment of delinquent accounts to collection agencies, Department of Education, or other agencies.
- Archiving and retrieving student loan documents to/from the records management system.
- Preparing various audit schedules and provide appropriate supporting documentation.
- Researching transactions on student ledgers, responding to inquiries, providing information timely for/from/to internal and external constituents.
- Review portfolio of non graduated students with outstanding balances and perform outreach to encourage degree completion by removing balance as an impediment to same.
- Work with constituent departments to identify students who will benefit from balance recovery activities and support the student accounts role in this regard.
- Assist in other Bursar Office and University Accounts Receivable management functions as business needs dictate.
- Perform necessary collections activities to ensure institution receivables perform appropriate to bad debt allowance and expense targets and cash flow for non-Title IV receivables are maintained at adequate levels.
- Perform other duties as assigned.
- Associates degree; Bachelor’s degree preferred or combination of education and relevant experience in a related area.
- Three years+ of work experience related to collection and student account experience, preferably higher education industry.
- Experience with federal and state regulations related to fair debt and collections practices.
- Understanding of regulations related to Title IV processing in a higher education environment sufficient to understand their impact of receivables.
- Proficient in credit bureau compliance regulations.
- Working knowledge of FERPA, PCI, individual state Privacy Act, and Red Flag Rules.
- Accomplished negotiator with strong professional demeanor for interacting and communicating in difficult and stressful situations.
- Strong phone presence, with extensive outbound call experience in collections activities.
- Ability to communicate clearly in writing and orally, strong customer service orientation and ability to work well with diverse internal and external constituents in a team-oriented environment.
- Ability to share knowledge and information and to quickly assume responsibility for new task assigned as a result of changing business needs.
- Demonstrated self-starter, with strong analytic, problem solving, critical thinking and research skills.
- Demonstrated organizational, time management, and multitasking skills with ability to meet deadlines consistently while performing in a busy environment.
- Bilingual language is a plus.
- Remote with varying work times to be responsive to clients in the US.
- Must be available to work a flexible schedule.
- Travel is primarily local during the business day. May require travel to other locations occasionally.
Benefits and Perks
- Medical, Vision, and Dental
- Life and AD&D
- Short and Long-Term Disability
- Flexible Spending Account
- Voluntary Benefits
- Commuter Benefits
- 401K Retirement Plan
- Paid Holidays
- Floating Holidays
- Personal Days
- Vacation Time
- Sick Leave
- Employee Assistance Program
- Tuition Reimbursement
- Tuition Waiver
- Must be authorized to work in the United States
- Ambow Education USA does not provide employment sponsorship