Asset recovery specialist vs collections representative

Differences between asset recovery specialist and collections representative duties and responsibilities

Asset recovery specialist example responsibilities.

• Manage university A/R processes and enforce tuition payment policy.
• Handle sensitive information given according to FDCPA regulations and standards.
• Create negotiation strategies that help increase revenue by reducing losses on third-party settlement transactions.
• Submit additional information request by insurance companies such as medical records, primary/secondary insurance explanation of benefits (EOB).
• Secure modification documents including HAMP and bank require documents.

Collections representative example responsibilities.

• Protect A/R assets by managing a portfolio of accounts to maximize gainful sales and reduce debt losses.
• Maintain effective communication and utilize negotiation skills with internal and external customers to effect collections while maintaining customer good will.
• Submit all reconsideration and appeals if need.
• Conduct periodic data cleaning of queues balances deny with deny appeals.
• Resolve valid or authorize NSF charges due to decline credit cards or ACH transactions.
• Collect and count inventories, reconcile purchases and scan UPC's and inputting price information.
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