Collections Specialist
Aston Carter, Norfolk, VA, United States
Collections Specialist
The Collections Specialist manages past-due student account balances, coordinates closely with third-party collection agencies, and ensures accurate, compliant handling of collections activities and tax debt set-off processes. This role supports a large university environment by reconciling accounts, preparing detailed reports, and maintaining thorough documentation while providing professional, solutions-focused communication to students. Responsibilities Review delinquency reports regularly and contact students to secure payment of past due balances in full compliance with applicable collection laws and established state procedures. Respond promptly and professionally to student communications by phone and email, performing research as needed to resolve questions and issues related to their accounts. Reconcile on a monthly basis the number of accounts sent to collections with collection agency reports, verifying that all accounts were received and properly set up, and researching and resolving any discrepancies. Collaborate with collection agencies to discuss and confirm payment amounts on student accounts, ensuring accurate and up-to-date information. Document in the Banner ERP system when collection agencies close accounts, and update students' comment forms to reflect closure reasons and status changes. Run weekly payment reports and submit them to the collection agency each Monday, ensuring timely and accurate transmission of information. Provide statements of account (SOA) to collection agencies within one week of request, maintaining accurate records of all documents shared. Post Tax Debt Set Off and collection agency statements accurately within seven days of receipt, ensuring correct application of payments. Review collection and tax statements prior to payment, making necessary adjustments before requesting disbursement to the agency. Prepare payment memos to Accounts Payable for collection agency payments within five days of posting, and coordinate to ensure timely processing. Run the automated tax process daily and monitor its output to ensure correct processing of tax debt set-off transactions. Review accounts and run the "NET" report to verify and correct how the system applied payments, adjusting entries as needed. Prepare and submit paperwork for Form 8300 within 15 days of notification, and maintain both electronic and paper files of all submitted forms. Assist with updating Touchnet payment plans for each new semester, ensuring accurate setup and alignment with university policies. Prepare repayment plan agreements for students, maintain copies of all agreements, and monitor repayment activity to ensure compliance with agreed terms. Review and update internal procedures within one month of any process change and conduct a comprehensive review at least annually. Run scheduled jobs and prepare various account aging and collections reports on a monthly basis, using this data to create trend graphs and management reports. Maintain detailed statistics on accounts placed with collections, payment plans, and accounts enrolled in or removed from various collections processes. Conduct monthly reviews of cohort accounts, contacting students to collect past due amounts and working to bring accounts current. Perform an annual review and analysis of Perkins loan accounts that are not in the cohort, preparing them for assignment each November. Essential Skills 23 years of experience in collections, accounts receivable, or a closely related financial role. Hands-on experience working with third-party collection agencies, including sending accounts, reconciling agency reports, and managing related communications. Experience managing past due reports, collections notifications, and tax offset or tax debt set-off payments. Basic proficiency in Excel, including the ability to work with spreadsheets for tracking, reporting, and reconciliation. Experience with cash application and general accounting principles related to accounts receivable. Familiarity with higher education financial or student account operations. Working knowledge of Banner or a similar ERP system used for student accounts and receivables. Understanding of Fair Debt Collection practices and the ability to apply them in day-to-day collections activities. Understanding of FERPA requirements and the ability to handle student information confidentially and appropriately. Ability to communicate clearly and professionally with students and external partners by phone and email. Strong attention to detail and accuracy when posting payments, reconciling accounts, and preparing forms and reports. Ability to manage multiple tasks and deadlines, such as weekly, monthly, and annual reporting and reconciliation cycles. Additional Skills & Qualifications Experience working in a higher education or state and local government (SLED) environment. Proficiency with intermediate Excel functions such as pivot tables and VLOOKUPs for data analysis and reporting. Experience with Touchnet or similar payment plan platforms used in a university setting. Familiarity with Colleague or other higher education ERP systems in addition to Banner. Ability to prepare and interpret account aging reports, trend graphs, and management-level summaries. Strong analytical skills for reviewing account cohorts and specialized portfolios such as Perkins loan accounts. Demonstrated ability to handle sensitive financial conversations with professionalism and a customer-service mindset. Interest in long-term, stable work with the potential to pursue permanent opportunities after a period of successful performance. Work Environment This role is fully onsite, Monday through Friday, typically from 8:00 a.m. to 5:00 p.m., supporting a large university setting. You will work extensively with systems such as Banner and other ERP tools, Touchnet payment plans, and Excel for reporting, reconciliation, and trend analysis. The environment is structured and deadline-driven, with recurring weekly, monthly, and annual cycles for reports, reconciliations, and reviews. You will collaborate regularly with internal departments such as Accounts Payable and external collection agencies, and communicate frequently with students regarding their accounts. The position offers the stability of a long-term, open-ended contract, six paid holidays, and the potential to apply for and convert to a permanent role after six months of successful performance. Job Type & Location This is a Contract position based out of Norfolk, VA. Pay and Benefits The pay range for this position is $20.00 - $23.00/hr. Eligibility requirements apply to some benefits and may depend on your job classification and length of employment. Benefits are subject to change and may be subject to specific elections, plan, or program terms. If eligible, the benefits available for this temporary role may include the following:
Medical, dental & vision
Critical Illness, Accident, and Hospital
401(k) Retirement Plan
Pre-tax and Roth post-tax contributions available
Life Insurance (Voluntary Life & AD&D for the employee and dependents)
Short and long-term disability
Health Spending Account (HSA)
Transportation benefits
Employee Assistance Program
Time Off/Leave (PTO, Vacation or Sick Leave) Application Deadline This position is anticipated to close on Apr 24, 2026.
The Collections Specialist manages past-due student account balances, coordinates closely with third-party collection agencies, and ensures accurate, compliant handling of collections activities and tax debt set-off processes. This role supports a large university environment by reconciling accounts, preparing detailed reports, and maintaining thorough documentation while providing professional, solutions-focused communication to students. Responsibilities Review delinquency reports regularly and contact students to secure payment of past due balances in full compliance with applicable collection laws and established state procedures. Respond promptly and professionally to student communications by phone and email, performing research as needed to resolve questions and issues related to their accounts. Reconcile on a monthly basis the number of accounts sent to collections with collection agency reports, verifying that all accounts were received and properly set up, and researching and resolving any discrepancies. Collaborate with collection agencies to discuss and confirm payment amounts on student accounts, ensuring accurate and up-to-date information. Document in the Banner ERP system when collection agencies close accounts, and update students' comment forms to reflect closure reasons and status changes. Run weekly payment reports and submit them to the collection agency each Monday, ensuring timely and accurate transmission of information. Provide statements of account (SOA) to collection agencies within one week of request, maintaining accurate records of all documents shared. Post Tax Debt Set Off and collection agency statements accurately within seven days of receipt, ensuring correct application of payments. Review collection and tax statements prior to payment, making necessary adjustments before requesting disbursement to the agency. Prepare payment memos to Accounts Payable for collection agency payments within five days of posting, and coordinate to ensure timely processing. Run the automated tax process daily and monitor its output to ensure correct processing of tax debt set-off transactions. Review accounts and run the "NET" report to verify and correct how the system applied payments, adjusting entries as needed. Prepare and submit paperwork for Form 8300 within 15 days of notification, and maintain both electronic and paper files of all submitted forms. Assist with updating Touchnet payment plans for each new semester, ensuring accurate setup and alignment with university policies. Prepare repayment plan agreements for students, maintain copies of all agreements, and monitor repayment activity to ensure compliance with agreed terms. Review and update internal procedures within one month of any process change and conduct a comprehensive review at least annually. Run scheduled jobs and prepare various account aging and collections reports on a monthly basis, using this data to create trend graphs and management reports. Maintain detailed statistics on accounts placed with collections, payment plans, and accounts enrolled in or removed from various collections processes. Conduct monthly reviews of cohort accounts, contacting students to collect past due amounts and working to bring accounts current. Perform an annual review and analysis of Perkins loan accounts that are not in the cohort, preparing them for assignment each November. Essential Skills 23 years of experience in collections, accounts receivable, or a closely related financial role. Hands-on experience working with third-party collection agencies, including sending accounts, reconciling agency reports, and managing related communications. Experience managing past due reports, collections notifications, and tax offset or tax debt set-off payments. Basic proficiency in Excel, including the ability to work with spreadsheets for tracking, reporting, and reconciliation. Experience with cash application and general accounting principles related to accounts receivable. Familiarity with higher education financial or student account operations. Working knowledge of Banner or a similar ERP system used for student accounts and receivables. Understanding of Fair Debt Collection practices and the ability to apply them in day-to-day collections activities. Understanding of FERPA requirements and the ability to handle student information confidentially and appropriately. Ability to communicate clearly and professionally with students and external partners by phone and email. Strong attention to detail and accuracy when posting payments, reconciling accounts, and preparing forms and reports. Ability to manage multiple tasks and deadlines, such as weekly, monthly, and annual reporting and reconciliation cycles. Additional Skills & Qualifications Experience working in a higher education or state and local government (SLED) environment. Proficiency with intermediate Excel functions such as pivot tables and VLOOKUPs for data analysis and reporting. Experience with Touchnet or similar payment plan platforms used in a university setting. Familiarity with Colleague or other higher education ERP systems in addition to Banner. Ability to prepare and interpret account aging reports, trend graphs, and management-level summaries. Strong analytical skills for reviewing account cohorts and specialized portfolios such as Perkins loan accounts. Demonstrated ability to handle sensitive financial conversations with professionalism and a customer-service mindset. Interest in long-term, stable work with the potential to pursue permanent opportunities after a period of successful performance. Work Environment This role is fully onsite, Monday through Friday, typically from 8:00 a.m. to 5:00 p.m., supporting a large university setting. You will work extensively with systems such as Banner and other ERP tools, Touchnet payment plans, and Excel for reporting, reconciliation, and trend analysis. The environment is structured and deadline-driven, with recurring weekly, monthly, and annual cycles for reports, reconciliations, and reviews. You will collaborate regularly with internal departments such as Accounts Payable and external collection agencies, and communicate frequently with students regarding their accounts. The position offers the stability of a long-term, open-ended contract, six paid holidays, and the potential to apply for and convert to a permanent role after six months of successful performance. Job Type & Location This is a Contract position based out of Norfolk, VA. Pay and Benefits The pay range for this position is $20.00 - $23.00/hr. Eligibility requirements apply to some benefits and may depend on your job classification and length of employment. Benefits are subject to change and may be subject to specific elections, plan, or program terms. If eligible, the benefits available for this temporary role may include the following:
Medical, dental & vision
Critical Illness, Accident, and Hospital
401(k) Retirement Plan
Pre-tax and Roth post-tax contributions available
Life Insurance (Voluntary Life & AD&D for the employee and dependents)
Short and long-term disability
Health Spending Account (HSA)
Transportation benefits
Employee Assistance Program
Time Off/Leave (PTO, Vacation or Sick Leave) Application Deadline This position is anticipated to close on Apr 24, 2026.