Bank of Montreal (BMO Financial Group) is hiring a HVAR Collector

Bank of Montreal (BMO) is looking for an HVAR Collector to protect our value proposition and maximize portfolio liquidation. In this role, you will focus on high-value at-risk accounts, working to minimize financial losses while maintaining positive customer relations through effective application of collection policies and procedures.

What You'll Do

• Negotiate amicable solutions using knowledge of debt collection practices and Canadian Privacy and Collection laws.
• Utilize sound knowledge of BMO agreements to effectively educate customers on their obligations.
• Act decisively and effectively when dealing with sensitive customer situations and diffuse irate customers.
• Determine the root cause of issues and propose appropriate options to minimize loss, mitigate risk, and preserve customer loyalty.
• Apply advanced thinking to assess the uniqueness of each situation and make sound decisions balancing risk and losses.
• Interview customers and update financial, demographic profiles and security status, ensuring documentation is complete.
• Continuously identify and recommend improvements to job operational effectiveness and advise manager of process opportunities.
• Engage the customer in mutual problem solving when dealing with non-routine situational factors.
• Utilize highly effective analytic skills to quickly determine the root cause of delinquency and propose appropriate options.
• Focus on loss protection to the bank and ensure every effort is made to preserve the bank's relationship with the customer.
• Identify potential financial, legal, reputational risks and engage management team.
• Leverage and share best practices and specialized knowledge with teammates and the collections organization.
• Collaborate closely with multiple lines of business within the organization to mitigate risk and improve performance and compliance.
• 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 to effectively adapt strategies.
• 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.
• Comply with all applicable BMO and Line of Business policies, standards, guidelines and controls.
• Maintain BMO’s professional image and Code of Conduct, as well as confidentiality and security standards.

What We're Looking For

• Extensive knowledge of BMO Retail lending products and procedures related to collections.
• In depth knowledge of Privacy Legislation and the Collection Act.
• Extensive understanding of secured and unsecured portfolios.
• Excellent knowledge of Collection Processes and Procedures.
• Knowledge of skip tracing techniques and good skip tracing skills.
• Strong problem solving, communication, conflict management, interpersonal, analytical, negotiation and decision making skills.
• Excellent verbal and written communication skills with a professional and courteous phone manner.
• Demonstrated ability to resolve difficult client exchanges through high-quality, service-oriented interactions.
• Ability to work independently or as part of a small team in a busy, fast-paced environment.
• 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.

Nice to Have

• Knowledge of all the BMO approved offers and solutions for delinquent clients.

Technical Stack

• Excel, Word, Microsoft Office
• Strata, ECP, angular tool, TSYS, Optimizer, MDIF

Team & Environment

Member of the Customer Shared Services team, reporting to the Manager, HVAR.

Benefits & Compensation

• Compensation range: $43,200.00 - $80,300.00
• Flexible work schedule including possible work from home
• Working environment that values equity, diversity, inclusion and growth
• 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 hybrid position 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.