BMO Financial Group Legal Collector, Legal and Recovery in Ontario, Canada
Mandate: Identify, monitor, recommend and execute action on non-performing accounts. Must balance financial risks/rewards to Bank with working with and meeting the needs of the customer.
Objective: Minimize loss and/or maximize return on investment through prompt and appropriate loss mitigation. Utilize strong negotiation skills and interpersonal skills, while adhering to all applicable guidelines, requirements and regulations. Maintain contact and follow-through to ensure appropriate resolution.
Non-Performing Account Resolution: Analyze varying customer issues/inquiries and non-performing accounts to determine appropriate solutions
Contact past due customers and execute established procedures for the successful resolution of non-performing accounts, adhering to all applicable investor guidelines, requirements and regulations
Respond to past-due customer-initiated requests and work with customer to resolve delinquency in a manner beneficial to all parties
Negotiate the delinquent account resolution by balancing the financial risks/rewards to the bank with working with and meeting the needs of the customer
Apply skip tracing techniques and strong negotiation skills when required
Keep management apprised of complex or high risk situations or issues
Build and maintain constructive relationships with internal and external business partners, suppliers, vendors and regulatory officials
Stay abreast of and incorporate changing regulations and procedures and ensure compliance
Monitoring and Follow-up: Maintain accurate and timely information and records in Bank systems Analyze pertinent reports and function-specific data/metrics to identify delinquencies, default, foreclosure and other non-performing accounts
Provide courteous and timely follow-up to calls and correspondence.
Monitor proceedings in accordance with bank policies and applicable state and federal laws and guidelines
Maintain contact with past due customers throughout resolution process to ensure appropriate follow-through and resolution
Ensure compliance with government regulations, internal policies, procedures and guidelines for the purpose of audit and compliance
Minimize losses by ensuring timely portfolio processing and effective decision making Stay abreast of where risk/impact resides.
Make recommendations for reducing risk.
Knowledge and Skills:
Working understanding of Consumer Collections and relevant function areas, including regulatory and consumer guidelines, pertinent documentation and initiatives (for example, property appraisals, Broker Price Opinions, Service Alignment Initiatives)
Working knowledge of federal, state/provincial and local laws pertaining to Consumer Collections and functional area Familiarity with Auto Dialers and dialing platforms Strong BMO Product Knowledge
Excellent oral and written communication skills
Strong negotiation and skip tracing skills
Strong interpersonal skills
Strong customer service orientation
Keen analytical skills, attention to detail and ability to work independently
Effectively deals with change and shifting priorities
Strong and decisive problem solver
Proven ability to work effectively in a fast paced and stressful environment
Proven ability to multi-task, prioritize workload and meet deadlines
Proficient knowledge of function-specific software and computer programs
Proficient PC Skills including but not limited to Microsoft Excel, Word, Access, etc.
At our company, we have been helping our customers and communitiesfor over 195 years. Working with us means being part of a team of talented andpassionate individuals with a shared focus on working together to deliver greatcustomer experiences. We stand behind your success with the support you need toturn your potential into performance.
To find out more visit our website at www.bmo.com/careers .
BMOFinancial Group is committed to aninclusive, equitable and accessible workplace. By embracing diversity, we gainstrength through our people and our perspectives.We welcome and encourage applications from people with disabilities.Accommodations are available on request for candidates taking part in allaspects of the selection process.