Collections Workout Specialist
Collections Workout Specialist
Posted on :
26-07-2025
Employer Active
1 Vacancy
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Yearly Salary
$ 54460 - 81550
Vacancy
1 Vacancy
Posted on :
26-07-2025
Job Description
About the Role
Canon Financial Services Inc. (CFS) located in Mount Laurel NJ is currently seeking a Collections Workout Specialist (Specialist Workout). The Collections Workout Specialist initiates collection activities on delinquent contracts in excess of 90 days delinquent and distressed/defaulted contracts as identified and assigned by management.
This position is full time and offers a hybrid work schedule requiring you to be in the office Tuesday and Wednesday and an option to work from home the remainder of the week (unless a specific business need arises requiring in office attendance on other days). Note that work schedules and office reporting requirements may change from time to time based on business needs.
This position is full time and offers a hybrid work schedule requiring you to be in the office Tuesday and Wednesday and an option to work from home the remainder of the week (unless a specific business need arises requiring in office attendance on other days). Note that work schedules and office reporting requirements may change from time to time based on business needs.
Your Impact
- Responsible for overseeing late stage collection activities including ensuring the portfolio performs within acceptable limits and that the business provides superior customer/dealer service
- Manages all aspects of the day to day activities of the distressed accounts may include: analyzing financial statements conducting complex negotiations with various stakeholders restructuring debt developing exit strategies and coordinating legal documentation
- Expected to maintain consistent ongoing contact with customers by placing outbound phone calls emails and/or letters in an effort to reduce and/or eliminate delinquencies
- Minimizes losses and secure machines in field including repossession of equipment
- Perform in-depth skip tracing to locate and/or contact customer. Utilize all available tools to rectify defaults and cure delinquency within company policy and assigned authorities
- Perform account reconciliations to ensure proper cash application on delinquent accounts in addition to resolution of unapplied cash in timely fashion
- Review and analyze basic financial statements and DNB credit reports. Ability to analyze data and make recommendations to management for best course of action to assist customer
- Identify distressed customers where accelerated activity is required by CFS to secure our financial interest in the asset
- Monitor and report on portfolio to management including recommendations and preparation of documents to support exceptions to the standard charge-off policy
- Special projects as assigned
- Works closely with management on how to minimize loss through application of various recovery tools
- Interacts frequently with management credit managers dealers and customers
- Collaborates with other business units to ensure consistent application of policy and process while continually striving to improve results through better coordination across functional work groups
- Manages all aspects of the day to day activities of the distressed accounts may include: analyzing financial statements conducting complex negotiations with various stakeholders restructuring debt developing exit strategies and coordinating legal documentation
- Expected to maintain consistent ongoing contact with customers by placing outbound phone calls emails and/or letters in an effort to reduce and/or eliminate delinquencies
- Minimizes losses and secure machines in field including repossession of equipment
- Perform in-depth skip tracing to locate and/or contact customer. Utilize all available tools to rectify defaults and cure delinquency within company policy and assigned authorities
- Perform account reconciliations to ensure proper cash application on delinquent accounts in addition to resolution of unapplied cash in timely fashion
- Review and analyze basic financial statements and DNB credit reports. Ability to analyze data and make recommendations to management for best course of action to assist customer
- Identify distressed customers where accelerated activity is required by CFS to secure our financial interest in the asset
- Monitor and report on portfolio to management including recommendations and preparation of documents to support exceptions to the standard charge-off policy
- Special projects as assigned
- Works closely with management on how to minimize loss through application of various recovery tools
- Interacts frequently with management credit managers dealers and customers
- Collaborates with other business units to ensure consistent application of policy and process while continually striving to improve results through better coordination across functional work groups
About You: The Skills & Expertise You Bring
- Requires a bachelors degree in a related area or equivalent work experience
- 3 years plus of collections experience advanced workout experience preferred
- Prior leasing experience a plus
- Expected travel 5% to 10%
We are providing the anticipated salary range for this role: $54460 - $81550 annually.
- 3 years plus of collections experience advanced workout experience preferred
- Prior leasing experience a plus
- Expected travel 5% to 10%
We are providing the anticipated salary range for this role: $54460 - $81550 annually.
Company Overview
About our Company - Canon Financial Services Inc. (CFS) is a wholly-owned subsidiary of Canon U.S.A. Inc. Canon U.S.A. Inc. is a leading provider of consumer business-to-business and industrial digital imaging solutions to the United States and to Latin America and the Caribbean markets. With approximately $30.3 billion in global revenue its parent company Canon Inc. (NYSE:CAJ) ranks third overall in U.S. patents granted in 2022 and is one of Fortune Magazines Worlds Most Admired Companies in 2022. Canon U.S.A. is dedicated to its Kyosei philosophy of social and environmental responsibility. To keep apprised of the latest news from Canon U.S.A. sign up for the Companys RSS news feed by visiting and follow us on Twitter @CanonUSA. For media inquiries please contact .
Based on weekly patent counts issued by United States Patent and Trademark Office.
All referenced product names and other marks are trademarks of their respective owners.
Canon Financial Services offers a competitive compensation package including medical dental vision 401(k) Savings Plan discretionary profit sharing discretionary success sharing educational assistance recognition programs vacation and much more.
We comply with all applicable federal state and local laws regulations orders and mandates including those we may be required to follow as a federal government contractor/subcontractor.
All qualified applicants will receive consideration for employment without regard to race color religion sex sexual orientation gender identity national origin disability or protected veteran status.
If you are not reviewing this job posting on our Careers site we cannot guarantee the validity of this posting. For a list of our current postings please visit us at
#CFS
Based on weekly patent counts issued by United States Patent and Trademark Office.
All referenced product names and other marks are trademarks of their respective owners.
Canon Financial Services offers a competitive compensation package including medical dental vision 401(k) Savings Plan discretionary profit sharing discretionary success sharing educational assistance recognition programs vacation and much more.
We comply with all applicable federal state and local laws regulations orders and mandates including those we may be required to follow as a federal government contractor/subcontractor.
All qualified applicants will receive consideration for employment without regard to race color religion sex sexual orientation gender identity national origin disability or protected veteran status.
If you are not reviewing this job posting on our Careers site we cannot guarantee the validity of this posting. For a list of our current postings please visit us at
#CFS
Workstyle Description
Hybrid - This position offers a hybrid work schedule requiring you to be in the office Tuesdays and Wednesdays and an option to work from home the remainder of the week (unless a specific business need arises requiring in-office attendance on other days). Note that work schedules and office reporting requirements may change from time to time based on business needs.
Posting Tags
#PM19 #LI-AV1 #LI-HYBRID #ID22
Required Experience:
Unclear Seniority
Employment Type
Full-Time
Key Skills
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