Bank of Montreal (BMO Financial Group) is hiring an Associate III-IC Collections I

Bank of Montreal (BMO) is hiring an Associate III-IC Collections I to join our Customer Shared Services team. In this role, you will collaborate in reviewing delinquent, high-risk, or written-off accounts to identify collections opportunities. Your work advising customers on payment strategies and executing service activities will help minimize losses and maintain profitable, long-term customer relationships.

What You'll Do

• Collaborate in the review and evaluation of delinquent, high risk, or written-off accounts for possible collections opportunities.
• Advise customers on payment strategies and products that meet their objectives.
• Fulfill sales and service activities for the customer in accordance with approved procedures.
• Support areas including coaching and training, quality audits, vendor management and credit collection disputes.
• Deliver exceptional customer service that builds trust through expertise, responsive service and support.
• Develop and maintain long-term, profitable relationships and expand share of wallet.
• Execute established loss mitigation processes/procedures for the resolution of non-performing and high risk accounts.
• Handle incoming calls in an informed, professional, and efficient manner.
• Probe to understand customer needs and provide advice related to payments and overall collections strategies.
• Send out client communications, process transactions and interact with internal stakeholders to ensure customer needs are met.
• Integrate marketing promotions and programs into customer conversations as appropriate.
• Analyze data and information to provide insights and recommendations.
• Manage all transactions related to customer calls or refer to appropriate internal business groups.
• Escalate complex or unresolved customer situations to managers as required.
• Complete required documentation to ensure customer’s requests are accurately processed.
• Organize work information to ensure accuracy and completeness.
• Collaborate in efficient functioning of collections life cycle, including participating in the execution of established loss mitigation solutions.
• Follow documented policies and procedures to execute transactions, activities and processes.
• Keep abreast of needs of the Collections departments and identify and make referrals to other business groups as needed.
• Maintain current knowledge of collections strategies, practices, and trends and integrate into customer conversations.
• Maintain the confidentiality of customer and Bank information.
• Support continuous improvement initiatives by identifying and implementing changes to make processes more effective and efficient.
• Develop and maintain awareness of industry trends and best practices and the regulatory environment as it relates to collections products and services.
• Complete complex & diverse tasks within given rules/limits.
• Analyze issues and determine next steps; escalate as required.

What We're Looking For

• Typically between 1 – 2 years of relevant experience and post-secondary degree in related field of study desirable or an equivalent combination of education and experience.
• Working knowledge of federal, state/provincial and local laws pertaining to Consumer Collections and functional area.
• Knowledge of BMO products and services.
• Knowledge of competitive marketplace and trends in product offerings.
• Basic specialized knowledge.
• Good verbal & written communication skills.
• Good organization skills.
• Good collaboration & team skills.
• Good analytical and problem solving skills.

Team & Environment

You will be part of the Customer Shared Services team, collaborating closely with colleagues to support collections activities and customer relationships.

Benefits & Compensation

• Salary range: $36,000.00 - $54,500.00
• Health insurance
• Tuition reimbursement
• Accident and life insurance
• Retirement savings plans
• Performance-based incentives
• Discretionary bonuses
• Other perks and rewards

Work Mode

This is a remote position based in Ontario, Canada (VIRTUAL59 - REMOTE/TELETRAVAIL - ON - BMO).

BMO is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process.