Collections Specialist

Breakout Finance is transforming the financial landscape by providing a wide range of affordable, transparent working capital solutions for small businesses across the country. We are committed to one goal: helping small businesses seize their potential and become a breakout success (and have fun while doing it!) We’re constantly working for small business owners, leveraging our innovative solutions and partnerships with industry leaders to help our customers achieve unparalleled growth. Our products include business loans and factoring solutions to help position businesses for success. Join our growing team and become a champion for small business!The Breakout DifferenceWorking at Breakout is more than just a job. It’s:Being empowered to break down the barriers of traditional thinking.Being rewarded for strong performance.Holding the conviction that you can make a difference to the millions of small businesses in need of affordable funding.Embracing the dedication to always do the right thing.Being honest and forthright with customers.Feeling good about what you do for a living.Your role as a Collections Specialist:Initiate borrower outreach and conduct follow-up communications regarding returned or rejected payments for delinquent accounts.Handle payoff requests and provide accurate payoff information to borrowers.Post daily payments and wire transactions within established timelines.Review and apply late fees, UCC fees, and stacking fees as appropriate.Prepare and send demand letters and other collection-related correspondence.Monitor collection activity and bankruptcy filings.Track active bankruptcy filings, retrieve and distribute court documents, and maintain supporting records.Coordinate the placement of accounts with outside counsel for legal recovery and collection efforts.Maintain ongoing communication with attorneys regarding active collection and litigation matters.Create, update, and maintain collection tracking reports, including judgments, settlement agreements, and lien position charts. Support collection report reviews and ensure account statuses are accurately maintained.Qualifications:Strong organizational, communication, and follow-up skills.Familiarity with legal collections, bankruptcy processes, and UCC filings preferred.Detail-oriented with the ability to manage multiple priorities.1+ years of collections experience is a plus; experience within the financial services industry is strongly preferred.Ability to collaborate effectively with Credit, Finance, Sales, Legal, and other cross-functional teams, while providing timely updates and recommendations to the Collections Manager and Senior Management on significant collection and enforcement matters.High school diploma, GED, or equivalent; some college coursework; or an associate’s degree.Proficiency in Microsoft Office Suite (Word, Excel), Google Workspace, and Slack.Goal-oriented and committed to providing exceptional service and support to clients.Adaptable and resilient, with the ability to thrive in a dynamic, fast-paced, and evolving work environment.What we offer:A collaborative, team-oriented culture that values innovation, recognizes contributions, and rewards strong performance.Performance-based cash bonus opportunities tied to both Company and individual achievements.Medical, vision, and dental insuranceFlexible Spending Account, Dependent Care Flexible Spending AccountOptional voluntary benefits, including Life Insurance, Long-Term Disability, and Accidental Death & Dismemberment (AD&D) coverage.401(k) retirement plan with up to a 4% employer match.Unlimited Paid Time Off (PTO)Paid holidaysYour birthday off to celebrate your special day!Free parkingCasual work environment with no formal dress code.Job Type: Regular, Full-TimeLocation: McLean, VA; Hybrid at least 1 time a week in the office. Compensation: $43,680 - $56,000