First Party Recovery Collections Specialist

KeyBank is a financial institution seeking a First-Party Recovery Collections Specialist responsible for managing and recovering delinquent accounts. The role involves contacting customers to resolve past-due balances, negotiating payment arrangements, and ensuring compliance with banking regulations and internal policies.

Responsibilities

• Contact customers via phone, email, and written correspondence to collect on delinquent accounts
• Negotiate payment plans and settlements in accordance with bank policies
• Document all collection activities accurately in the bank’s systems
• Educate customers on account status, payment options, and consequences of non-payment
• Collaborate with internal departments (e.g., customer service, fraud, escalations) to resolve account issues
• Monitor and follow up on payment arrangements to ensure compliance
• Maintain knowledge of federal and state collection laws, including FDCPA and other applicable regulations
• Meet or exceed monthly recovery targets and performance metrics
• Handle sensitive customer information with confidentiality and professionalism

Skills

• High school diploma or equivalent is required
• Minimum 1 year of experience in a customer service/collections call center is required
• Strong negotiation skills and communication skills to highlight the benefits of customers paying their debt
• Ability to follow a schedule that is set by management for breaks and lunches and to limit time away from the phones when scheduled
• Ability to work in a fast-paced, goal-driven environment
• Proficiency in Microsoft Office and collection software systems is a plus
• Knowledge of banking regulations and recovery practices is a plus

Company Overview