Senior Collections Specialist

Fora Financial; New York (NY); Hybrid; USD 70,000 - 100,000; Full time

Benefits offered by this job

Hybrid working model

401(k) plan with company match

Life insurance at no cost to employees

Generous time off plan

Commuter benefits

Job summary

Fora Financial is seeking an experienced Senior Workout Specialist to manage delinquent accounts, lead recovery efforts on complex cases, and drive improvements across the collections function.

This role requires strong negotiation, sound judgment on escalations and settlements, and collaboration with Finance, Legal, and Customer Service to resolve delinquent balances while maintaining a positive customer experience.

Qualifications

• Bachelor's degree in Finance, Business Administration, or related field.
• 5+ years of collections experience, including complex, high‑balance, or high‑risk accounts.
• Strong working knowledge of FDCPA and other applicable collections regulations.
• Proven negotiation and conflict‑resolution skills.
• Experience with collections software, CRM systems, and Microsoft Excel.
• Excellent verbal and written communication skills.
• Strong analytical skills with the ability to effectively track, as well as interpret account and portfolio data.
• High attention to detail and comfort working with sensitive financial information.
• Ability to work independently and manage a high‑volume caseload.

Responsibilities

• Manage a portfolio of delinquent accounts, prioritizing outreach based on risk, balance, and aging.
• Determine suitability of extending workout plans for programs experiencing financial hardship; negotiate and structure repayment plans, settlements, and payment arrangements within authority.
• Serve as an escalation point for complex, high‑value, or sensitive collections cases.
• Gather documentation and perform complex research, financial analysis, and evaluate risk to mitigate losses.
• Track and report on key collections metrics & trends.
• Ensure all collections activity complies with FDCPA, state/federal regulations, and internal policies.
• Partner with Finance and Legal on pre‑charge‑offs, write-offs, and refer for legal or third‑party placements.
• Mentor and train junior collections staff on best practices, negotiation techniques, and compliance requirements.
• Identify trends in delinquency and recommend process or policy improvements to reduce future risk.
• Maintain accurate, detailed account notes and documentation in the collections/CRM system.
• Collaborate with Customer Service and Sales to resolve root causes of recurring payment issues.
• Prepare and present regular reporting on portfolio performance to management.

Skills

Negotiation

FDCPA knowledge

Analytical skills

CRM systems

Microsoft Excel

Verbal & written comms

Cross-functional collaboration

Education

Bachelor's degree in Finance/Business

Tools

Collections software

CRM systems

Microsoft Excel

Job description

About the Role

Fora Financial is a leading provider of fast and reliable working capital for small businesses through small business loans and revenue-based financing. Being in the business of helping small businesses, servicing our customers with integrity, quality, security, and trust is the foundation of our brand. Our employees are passionate about their work and the success of our organization is driven by the talent we attract.

We are seeking an experienced Senior Workout Specialist to manage a portfolio of past‑due accounts, lead recovery efforts on complex cases, and help drive process improvements across the collections function. This role requires strong negotiation skills, sound judgment on escalations and settlements, and the ability to work cross‑functionally with Finance, Legal, and Customer Service to resolve delinquent accounts while maintaining a positive customer experience.

Key Responsibilities

• Manage a portfolio of delinquent accounts, prioritizing outreach based on risk, balance, and aging
• Determine suitability of extending work‑out plans for programs experiencing financial hardship pertaining to business cash flow. Negotiate and structure repayment plans, settlements, and payment arrangements within approved authority limits
• Serve as an escalation point for complex, high‑value, or sensitive collections cases
• Gather documentation and perform more complex research, financial analysis, and evaluating risk to mitigate losses.
• Track and report on key collections metrics & trends
• Ensure all collections activity complies with FDCPA, state/federal regulations, and internal policies
• Partner with Finance and Legal on pre‑charge‑offs, write‑offs, and refer for legal or third‑party placements, following established policies and procedures
• Mentor and train junior collections staff on best practices, negotiation techniques, and compliance requirements
• Identify trends in delinquency and recommend process or policy improvements to reduce future risk
• Maintain accurate, detailed account notes and documentation in the collections/CRM system
• Collaborate with Customer Service and Sales to resolve root causes of recurring payment issues
• Prepare and present regular reporting on portfolio performance to management

Required Qualifications

• Bachelor's degree in Finance, Business Administration, or related field (or equivalent experience)
• 5+ years of collections experience, including experience with complex, high‑balance, or high‑risk accounts
• Strong working knowledge of FDCPA and other applicable collections regulations
• Proven negotiation and conflict‑resolution skills
• Experience with collections software, CRM systems, and Microsoft Excel
• Excellent verbal and written communication skills
• Strong analytical skills with the ability to effectively track, as well as interpret account and portfolio data
• High attention to detail and comfort working with sensitive financial information
• Ability to work independently and manage a high‑volume caseload

Preferred Qualifications

• Experience with collections CRM, ACH banking, and against performance targets.
• Experience with skip tracing, bankruptcy accounts, or third‑party collections agencies
• Prior experience mentoring, informally leading & supporting a team, or working as a subject matter expert
• Bilingual communication skills a plus.

Key Skills

• Negotiation and persuasion
• Regulatory and compliance knowledge
• Analytical and data‑driven decision‑making
• Emotional intelligence and de‑escalation
• Attention to detail and accuracy
• Cross‑functional collaboration

Benefits of working at Fora Financial

• Company‑subsidized medical, dental, and vision plans.
• 401(k) plan with company match.
• Life insurance at no cost to employees.
• Generous time off plan, including rollover vacation days.
• Health care and dependent care flexible spending accounts.
• Commuter benefits.
• Hybrid working model.
• Weekly breakfast, snacks, and Friday lunches provided onsite.

Compensation and Logistics

Hybrid working model

Salary range $70,000-$100,000

About Fora Financial

Fora Financial is a technology enabled, leading provider of flexible financing to small and medium sized businesses. Since our inception in 2008, we have supported more than 55,000 merchants nationwide with over $4 billion of capital used for a variety of purposes, from funding everyday operating expenses to managing cash flow gaps to facilitating business expansion, and much more. Leveraging our proprietary technology, Fora Financial is able to deliver capital to our customers via a streamlined and simple process that can be completed in as little as 24 hours, compared with the weeks or even months it often takes for a business to receive a bank loan.Over the past seventeen years, Fora Financial has grown from two founders in a small Manhattan workspace to a company of nearly 200 employees. Fora Financial prides itself on being a partner‑centric organization, offering a customized funding approach, col