Senior Workout & Collections Specialist

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

Benefits offered by this job

Medical plans

Dental plans

Vision plans

401(k) match

Life insurance

Generous PTO

Flexible Spending Accounts

Onsite meals

Job summary

Fora Financial is seeking an experienced Senior Workout Specialist to manage a portfolio of past-due accounts and lead recovery efforts on complex cases. You will work cross-functionally with Finance, Legal, and Customer Service to resolve delinquent accounts while preserving a positive customer experience.

The role requires strong negotiation skills, solid judgment on escalations and settlements, and the ability to mentor junior staff in best practices and compliance.

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.

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.

Skills

Portfolio management

Negotiation

FDCPA knowledge

Financial analysis

CRM software

Excel

Communication

Cross-functional collaboration

Education

Bachelor's degree in Finance

Tools

CRM systems

Excel

Job description

Fora Financial is seeking an experienced Senior Workout Specialist to manage a portfolio of past-due accounts and lead recovery efforts on complex cases. You will work cross-functionally with Finance, Legal, and Customer Service to resolve delinquent accounts while preserving a positive customer experience.

The role requires strong negotiation skills, solid judgment on escalations and settlements, and the ability to mentor junior staff in best practices and compliance.