What are the responsibilities and job description for the Collections Specialist -MCA position at Infinity Personnel?
Location: On-Site in Hallandale Beach, FL.
Job Type: Full-time
Job Summary:
We are seeking an experienced Collections Specialist with a strong background in Merchant Cash Advance (MCA) transactions. The ideal candidate will have expertise in recovering delinquent accounts, negotiating settlements, and managing high-volume collections for MCA funding. This role requires excellent communication, negotiation, and analytical skills to ensure the recovery of funds while maintaining professional client relationships.
Key Responsibilities:
Collections & Recovery:
- Manage delinquent MCA accounts, proactively reaching out to merchants with past-due balances.
- Negotiate repayment plans, settlements, and restructuring agreements based on financial analysis.
- Monitor ACH rejections, NSFs, and chargebacks, taking immediate action to mitigate losses.
- Work closely with merchants to understand financial hardships and find solutions to recover funds.
Account Monitoring & Compliance:
- Track daily, weekly, and monthly collection efforts, ensuring adherence to company policies.
- Maintain detailed records of communication, payment agreements, and follow-ups.
- Ensure compliance with federal, state, and industry regulations governing MCA collections.
- Investigate and analyze financial data to assess repayment capacity and mitigate risks.
Negotiation & Legal Support:
- Collaborate with legal teams on escalated collection cases, defaults, and enforcement actions.
- Assist in filing UCC liens, settlement agreements, and legal proceedings when necessary.
- Work with third-party agencies or attorneys for advanced collection strategies.
Relationship Management:
- Maintain positive relationships with merchants while ensuring prompt payments.
- Educate merchants on contract terms, payment obligations, and potential consequences of default.
- Communicate effectively with internal departments (sales, underwriting, and legal teams) to improve collection efficiency.
Qualifications & Skills:
- 2 years of experience in collections, preferably in Merchant Cash Advance (MCA) transactions.
- Strong knowledge of MCA agreements, default processes, and ACH payment structures.
- Excellent negotiation and problem-solving skills to recover funds effectively.
- Familiarity with financial statements, risk assessment, and credit analysis.
- Ability to handle high-volume accounts while maintaining accuracy and professionalism.
- Proficiency in collection software, CRM tools, and Microsoft Office Suite (Excel, Word, Outlook).
- Bilingual (English & Spanish) is a plus.
Job Type: Full-time
Work Location: In person (Hallandale Beach, FL)