Bank of Montreal is seeking a Collections Agent – High Value At Risk (HVAR) to join our team. In this critical role, you will protect the bank's value by managing high-value at-risk accounts, negotiating solutions to minimize financial losses, and maintaining customer relations. You will apply collection policies, privacy laws, and sound judgment to preserve the bank's relationship with its customers.
What You'll Do
- Negotiate amicable solutions using knowledge of debt collection practices and Canadian Privacy and Collection laws.
- Utilize knowledge of BMO agreements to educate customers on their contractual obligations.
- Act decisively and effectively when dealing with sensitive customer situations.
- Acknowledge and respond to customer inquiries and escalations, arranging for additional information as needed.
- Diffuse irate customers and maintain poise to identify root causes and provide solutions.
- Determine the root cause of issues and propose options to minimize loss and mitigate risk to BMO.
- Apply advanced thinking to assess unique situations and make sound decisions balancing risk minimization.
- Interview customers and update financial, demographic profiles, and security status.
- Continuously identify and recommend improvements to job operational effectiveness.
- Engage the customer in mutual problem solving to create personal, unique solutions.
- Maintain poise and perseverance when dealing with dissatisfied or difficult customers.
- Utilize analytic skills to determine root cause of delinquency and propose appropriate options.
- Focus on loss protection and preserving the bank's relationship with the customer.
- Perform other duties and special projects as required.
- Identify potential financial, legal, reputational risks and engage management team.
- Leverage and share best practices and specialized knowledge with teammates.
- Collaborate closely with multiple lines of business to mitigate risk and improve performance.
- Comply with all applicable BMO and Line of Business policies, standards, guidelines, and controls.
- Maintain BMO’s professional image and Code of Conduct.
- Maintain confidentiality and security standards.
- Drive the decision making process based on gathered facts, data, observation, and analysis.
- Communicate and present information to various management levels within BMO.
- Leverage networks and improve knowledge of collection, governance, audit and compliance practices.
- Research, gather data, analyze, lead and/or provide support, as required and recommend solutions to management.
- Represent the business unit as a subject matter expert in inter-departmental policy and procedures implementation and meetings.
What We're Looking For
- Extensive knowledge of BMO Retail lending products and collections procedures.
- In-depth knowledge of Privacy Legislation and the Collection Act.
- Strong problem solving, communication and conflict management skills.
- Knowledge of all BMO approved offers and solutions for delinquent clients.
- Extensive understanding of secured and unsecured portfolios.
- Good working knowledge of Bank supported or other software (Excel, Word, Microsoft Office).
- Good working knowledge of Bank Systems (Strata, ECP, angular tool, TSYS, Optimizer, MDIF).
- Good working knowledge of Financial Statements, Bank OFSI standards and Business Recovery Planning.
- Good practical knowledge of Business Computer Systems.
- Excellent knowledge of Collection Processes and Procedures.
- Knowledge of skip tracing techniques and good skip tracing skills.
- Excellent verbal and written communication skills.
- Professional and courteous phone manner.
- Strong interpersonal, analytical, negotiation and decision making skills.
- Demonstrated ability to resolve difficult client exchanges through high quality, service oriented interactions.
- Ability to work independently or part of a small team in a busy, fast paced environment.
Technical Stack
- Excel, Word, Microsoft Office
- Strata, ECP, angular tool, TSYS, Optimizer, MDIF
Team & Environment
This role is part of Customer Shared Services and reports to the Manager, HVAR.
Benefits & Compensation
- Compensation range: $43,200.00 - $80,300.00
- Health insurance
- Tuition reimbursement
- Accident and life insurance
- Retirement savings plans
- Performance-based incentives
- Discretionary bonuses
- Other perks and rewards
Work Mode
This position offers a hybrid work arrangement with virtual locations.
BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process.
