BMO U.S.

Senior Associate, Business Banking Collections, Bilingual

BMO U.S.

full-time

Posted on:

Origin:  • 🇨🇦 Canada

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Salary

💰 CA$45,500 - CA$84,500 per year

Job Level

Senior

About the role

  • Collaborates in the review and evaluation of delinquent, high risk, or written-off accounts for possible collections opportunities.
  • Understands customer needs and provides collections-related sales and service to BMO customers or prospects.
  • Advises customers on payment strategies and products that meet their objectives.
  • Fulfills sales and service activities for the customer in accordance with approved procedures.
  • Support areas may include, but are not limited to, coaching and training, quality audits, vendor management and credit collection disputes.
  • Delivers exceptional customer service that builds trust through expertise, responsive service and support.
  • Develops rapport and instils confidence with clients in order to develop credibility and earn their trust as relationship manager.
  • Develops and maintains long-term, profitable relationships and expands share of wallet.
  • Addresses the more complex escalated customer requests and transactions.
  • Contacts the customer to obtain the necessary information to manage their application (as required) ensuring the customer is aware at all times of the status/result of the present and future payments.
  • Executes established loss mitigation processes/procedures for the resolution of non-performing and high risk accounts.
  • Handles incoming calls in an informed, professional, and efficient manner.
  • Probes to understand customer needs and provides advice related to payments and overall collections strategies in the best interests of the customer.
  • Sends out client communications, processes transactions and interacts with internal stakeholders to ensure customer needs are met.
  • Integrates marketing promotions and programs into customer conversations as appropriate.
  • Provides advice and guidance to assigned business/group on implementation of solutions.
  • Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
  • Develops action plans and solutions to maximize recovery and safeguard the Bank’s interests.
  • Establishes expertise with Consumer Collections personnel as a key support contact/resource/coach with proficiency and tools to assist departments in achieving goals.
  • Utilizes strong negotiation skills and interpersonal skills, while adhering to all applicable guidelines, requirements and regulations.
  • Reviews accounts and analyzes data and information to determine the probability of collection; provide insights and recommendations.
  • Gathers and formats data into regular and ad-hoc reports, and dashboards.
  • Develops and executes short term tactics/plans to drive specific behaviours, activities, and results.
  • Manages all transactions related to customer calls or refers to appropriate internal business groups.
  • Escalates complex or unresolved customer situations to managers as required.
  • Completes required documentation to ensure customer’s requests are accurately processed.
  • Integrates information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting.
  • Leads/participates in the design, implementation and management of core business/group processes.
  • Supports the development and promotion of a business/group program.
  • Identifies business needs, designs/develops tools and training programs; may include delivery of training to audiences.
  • Collaborates in efficient functioning of collections life cycle.
  • Includes participating in the execution of established loss mitigation solutions for the successful resolution of non-performing and high risk accounts.
  • Solutions range from various loan modification options to liquidation for borrowers with delinquent and high risk loans in order to offer default / foreclosure alternatives and minimize losses.
  • Delivers exceptional customer service that builds trust through expertise, responsive service and support.
  • Follows documented policies and procedures to execute transactions, activities and processes.
  • Keeps abreast of needs of the Collections departments.
  • Identifies and makes referrals to other business groups as needed.
  • Maintains current knowledge of collections strategies, practices, and trends and integrates into customer conversations in a professional manner.
  • Maintains the confidentiality of customer and Bank information.
  • Supports continuous improvement initiatives by identifying and implementing changes to make processes more effective and efficient.
  • Develops and maintains awareness of industry trends and best practices and the regulatory environment as it relates to collections products and services.
  • Thinks creatively and proposes new solutions.
  • Exercises judgment to identify, diagnose, and solve problems within given rules.
  • Works mostly independently.
  • Broader work or accountabilities may be assigned as needed.

Requirements

  • Typically between 3 - 5 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
  • Knowledge of Credit Qualifications and associated credit knowledge and skills according to the established qualification standards.
  • Knowledge of federal, state/provincial and local laws pertaining to Consumer Collections and functional area - Good.
  • Knowledge of BMO products and services - Good.
  • Knowledge of competitive marketplace and trends in product offerings.
  • Specialized knowledge from education and/or business experience.
  • Verbal & written communication skills - In-depth.
  • Collaboration & team skills - In-depth.
  • Analytical and problem solving skills - In-depth.
  • Influence skills - In-depth.