Job Specification: Payment Collections Executive
Job Title:
Payment Collections Executive
Department:
Finance / Customer Accounts
Reports To:
Collections Team Leader / Finance Manager
Location:
Twickenham- Office Based
Contract Type:
[Permanent / Fixed-term]
Role Purpose
The Payment Collections Executive is responsible for managing premium instalment collections from clients who pay for their motor insurance on a monthly basis. The role involves proactive and reactive client contact through both inbound and outbound calls, ensuring payments are collected in a timely manner while delivering a professional and customer-focused experience.
Key Responsibilities
* Make outbound calls to clients to collect overdue or outstanding insurance premium instalments.
* Handle inbound calls from clients regarding payments, direct debits, and account queries.
* Accurately update and maintain client payment records and notes in the CRM system.
* Work with empathy and professionalism to resolve payment issues while adhering to regulatory requirements.
* Negotiate and agree suitable payment arrangements where applicable, in line with company policy.
* Identify and escalate any potential risks of policy cancellation due to non-payment.
* Provide clear, accurate information to clients regarding payment methods, schedules, and consequences of late or missed payments.
* Collaborate with the Finance and Customer Service teams to resolve discrepancies or client concerns.
* Meet individual and team KPIs relating to collections, call handling, and service quality.
* Ensure compliance with FCA regulations, GDPR, and internal policies at all times.
Key Skills & Competencies
* Strong communication and negotiation skills, with a confident and professional telephone manner.
* Ability to manage difficult conversations with tact, resilience, and empathy.
* Attention to detail and accuracy in updating client records.
* Organisational skills with the ability to prioritise workload in a fast-paced environment.
* Basic numeracy and ability to explain payment terms clearly.
* Customer-focused approach with a commitment to treating customers fairly.
* IT literate, with experience using CRM or finance/accounting systems.
Experience & Qualifications
* Previous experience in a collections, credit control, or customer service role (essential).
* Experience within financial services, insurance, or regulated environments (desirable).
* Knowledge of FCA regulations and Treating Customers Fairly (advantageous, training can be provided).
* GCSE (or equivalent) in English and Maths required.
Key Performance Indicators (KPIs)
* Collection rates achieved within set timeframes.
* Reduction in overdue accounts and policy cancellations.
* Compliance and call quality scores.
* Customer satisfaction and feedback.
Salary & Benefits
* Competitive salary
* Performance-based incentives/bonus scheme.
* Company benefits include, Pension, holiday, cycle to work scheme etc