Senior Manager – Collections & Recovery

This is a fully remote position, open to applicants in Arizona, +4 more states.

📋 Description

• Assess and analyze overdue, high-risk, or written-off accounts for potential collection opportunities.

• Offer sales and service related to collections and guide customers on payment strategies and product options.

• Implement loss mitigation procedures for non-performing and high-risk accounts.

• Formulate action plans and solutions to optimize recovery and protect the Bank’s interests.

• Resolve complex escalated customer inquiries and transactions.

• Mentor, train, and assist Consumer Collections staff.

• Establish and oversee interdependent teams across various functional and operational areas.

• Enhance team performance, acknowledge and reward achievements, and address underperformance.

• Cultivate and sustain profitable customer relationships while increasing share of wallet.

• Track account and relationship performance against established plans.

• Compile and format data into regular and on-demand reports and dashboards.

• Conduct report audits and random checks.

• Spearhead change management initiatives and operational programs.

• Design, execute, and oversee core business/group processes.

• Supervise the design, development, and deployment of tools and training.

• Evaluate programs for effectiveness and propose improvements.

• Recognize emerging issues, trends, gaps, and best practices.

• Provide insights on collections regulations, policies, strategies, and practices.

• Collaborate with internal stakeholders to harness sales, fulfillment, and referral opportunities.

• Safeguard the confidentiality of customer and Bank information.

• Support ongoing improvement initiatives.

• Implement BMO’s Risk Management Framework and make risk-informed decisions.

⛳️ Requirements

• Generally 7+ years of relevant experience.

• A post-secondary degree in a related discipline, or an equivalent mix of education and experience.

• Understanding of credit qualifications and the necessary credit-related knowledge and skills as per established qualification standards.

• Comprehensive knowledge of federal, state/provincial, and local laws related to Consumer Collections and the functional area.

• Profound understanding of BMO products and services.

• Extensive knowledge of the competitive landscape and trends in product offerings.

• Advanced negotiation skills.

• A combination of education, experience, and industry expertise.

• Exceptional verbal and written communication abilities.

• Advanced analytical and problem-solving capabilities.

• Strong influence skills.

• Excellent collaboration and teamwork skills, emphasizing cross-group collaboration.

• Capacity to manage ambiguity.

• Proficient in data-driven decision-making.

• Ability to maintain the confidentiality of customer and Bank information.

• Capability to apply relevant laws, regulations, policies, standards, procedures, and BMO’s Risk Management Framework.

🏝️ Benefits

• Health insurance.

• Tuition reimbursement.

• Accident and life insurance.

• Retirement savings plans.

• Comprehensive training and coaching.

• Managerial support.

• Networking opportunities.

• Tools and resources to achieve new milestones.

• Reasonable accommodations for individuals with disabilities.