Pros
• Ensure all operations are carried on in an appropriate, cost-effective way Manages the employees who collect the money. • Improve operational management systems, processes and best practices • Help the organization’s processes remain legally compliant • Examine financial data and use them to improve profitability • Perform quality controls and monitor production KPIs • Recruit, train and supervise staff • Find ways to increase quality of customer service • Follow up the operation of the collection and customer service department
Cons
• Oversees a company’s process of retrieving money owed to them or one of their clients. • Manages the employees who collect the money. • Handles complaints or difficult calls. • Makes sure employees comply with company policies when contacting individuals and other companies to collect past due balances that they owe. • Ensures that all written correspondence complies with company policies in terms of verbiage and frequency of contact. • Keeps up with changes in state and federal laws governing debt collections and makes sure employees receive training on any changes in‑laws. • Makes sure the collectors on staff operate within the Federal Fair Debt Collection Practices Act (FDCPA) when making phone contact with individuals and companies. • Monitors call reports to make sure collectors are making enough phone contacts each day. • Identifies areas of the collection process that need improvement and implements an enhanced process that will help collectors be more effective.