Senior Collections Officer

Senior Collections Officer
Posting #: 26-35
Location: Kitchener, hybrid
Reports to: Manager, Collections

Are you a community-minded person that’s passionate about investing locally and giving back to your community? Do you like working with other awesome and like-minded people toward a common goal?

Here at Your Neighbourhood Credit Union (YNCU), we are all about putting our money where our mouth is and keeping our dollars local and investing back into our members, staff, and community; and we are looking for people like you to join our team.

The Role
The Senior Collections Officer is responsible for the collection of all lending products in arrears and as assigned.  The Senior Collections Officer is accountable to be compliant with Delinquency Control and Risk Management policies and all other applicable policies and will assist the Manager, Collections and the Director, Collections with Collections related projects and processes. The incumbent will also provide coverage of supervisory responsibilities such as workflow oversight, coaching, and training of team members, to the Manager, Collections.

DUTIES & RESPONSIBILITIES:

• Responsible for the ongoing identification & management of the Credit Union’s portfolio of defaulted residential and commercial loans, lines of credit, SAODs and mortgages which includes direct contact with delinquent Members.
• Assist the Manager, Collections and the Director, Collections with maintenance and management of the Impaired and Retail Watch List Report, reserves as required by FISRAO under Bylaw #6, and collection where feasible of previously written off accounts.
• Provide instruction and guidance to the retail branch network with regards to delinquency collection and options to securitize the Credit Union’s position.
• Under guidance from the Manager, Collections, directly interact with the approved bailiff’s and legal counsel to enforce security and the designated real estate offices for the purposes of repossessing vehicle assets and or listing real estate held for sale.
• Assist Manager, Collections with listings and collection strategy (reduction of delinquent percentages) on past due unsecured/partially secured loans or those secured by real property.
• Monitor Bankrupt Accounts and corresponds with Trustees.
• Identify and take necessary action to secure the Credit Union’s position on loans secured by chattels or promissory note.
• Work with Members and CUMIS in getting payments applied from CUMIS Insurance claims.
• Assist Manager, Collections when needed to monitor and ensures compliance with incoming Court Orders from Small Claims Court, Revenue Canada, etc.
• Assist when requested to prepare documentation for the Director, Collection’s overview and signature on assignment of files to third party collections/recovery efforts, including Small Claims Court actions, demand for payment issuances, legal assignment or other issues as directed.
• Install on the DNA platform and collect all related fees associated with requests for payment deferrals submitted by the branches as approved by Director, Sales and Coaching or the Director, Collections in their absence.
• Assist Manager, Collections with claim correspondence in accordance with CMHC or Genworth reporting guidelines and CUMIS remedies under blanket coverage policies for review by Director, Collections prior to submission.
• Assist the Manager, Collections in notifying and charging member’s mortgages for our internal insurance after Mortgage
• Administration Team have done their due diligence in resolving their homeowner insurance issue.
• All other collection activities and reporting as required or assigned.
• Identify key areas for improvement in the area of lending knowledge and addresses/ supports resolution in conjunction with the Director, Collections and as requested.
• Assist Director, Collections with reporting requirements of Board and Corporate management relative to areas as assigned.
• Assist the Manager, Collections with recovery actions on non-lending related unauthorized overdrafts or fraudulent items as written assigned the department on occasion by the Director, Sales and Coaching as per YNCU policy and procedures.

This position is for an existing vacancy within our team.

What we are looking for

•  Post-secondary diploma, degree and/ or certification in Business Administration, Economics Finance, Commerce, Real Estate or a related program, or an equivalent combination of education and experience
• 2-3 years of experience in a financial institution related to collections and default management with supervisory experience preferred
• Must be computer literate, have an effective working knowledge of Microsoft Office (Outlook Excel, Word) and a willingness and ability to learn and utilize YNCU’s banking system, applications, platforms, and emerging technologies
• Must be bondable

Why work at YNCU?

YNCU employees get to be a part of the growing credit union movement and help us get the word out on why banking locally is so important. We’re your friendly, helpful, and financially savvy neighbour who provides tailored financial services to our members, supports small businesses, creates local jobs, and gives back to causes that matter. Through our Good Neighbours Employee Volunteer Program and Monthly Staff Donation Draws, we even let you choose the causes we donate to and support. YNCU is recognized for the following:

• B Corp Certified
• Competitive Compensation, Incentive Programs and Benefits
• 37.5-hour work week
• 7% matching pension
• Benefits are 100% paid for by YNCU
• Wellness Initiatives including our Employee and Family Assistance Program, premium membership for Calm, Consult+, and LIFT Virtual Fitness
• Training and Development Opportunities
• Community Sponsored Events Employee and paid Volunteer opportunities
• Opportunities to get involved with fun and meaningful committees
• Free banking account
• Discounted Employee Rates

Salary range: $60,000-$65,000
The compensation offered to the successful applicant for this role will be determined by the candidate’s relevant skills and experience and internal equity. More information about our total rewards package will be available during the hiring process.

YNCU strives to be a diverse workplace reflective of the communities that we live in. We are committed to a diverse workforce and invite everyone to apply. YNCU makes hiring decisions solely on qualifications, merit, and business needs at the time.

YNCU is an equal opportunity employer that is committed to diversity and inclusion in the workplace. We prohibit discrimination and harassment of any kind based on race, colour, sex, gender, religion, sexual orientation, national origin, disability, pregnancy, or any other protected characteristic as outlined by national, provincial, or municipal laws. This applies to all employment practices within our organization, including hiring, recruiting, promotion, termination, layoff, recall, leave of absence, compensation, benefits, and training.

Your Neighbourhood Credit Union will provide accommodations for persons with disabilities, where needed, to support their participation in our recruitment process. Please contact Human Resources at careers@yncu.com.