Senior Collections Officer - 12 Month Temporary Opportunity Location : British Columbia (CA-BC) Job Type : Full Time myWork Options : In-person, Hybrid, Remote Coast Capital : Building Better Futures Together The Senior Collections Officer is responsible for effectively controlling delinquency and minimizing potential losses to Coast Capital Auto Equipment Finance.
They are to exercise sound judgment in balancing risk with probability of recovery. The Senior Collections Officer is to manage the post write-off recovery process.
The incumbent is responsible for collecting past due arrears payments and assisting with the restructuring of accounts through credit amendments.
They are responsible for identifying and reporting possible fraudulent accounts. They are to administer the recovery of specialized assets, conduct complex skip tracing and manage through asset recovery scenarios where the exposure is large, complex and / or involve legal recovery methods associated with bankruptcy and receivership scenarios.
The incumbent is required to : situationally assess the scenario, manage repossession activity, administer the organizing of transport, remarketing and ultimately the disposition of the asset.
The incumbent is required to provide recommendations for changes to policy and procedures, assisting with research and development.
What you’ll get to do : Administer bank drafts and wire payments, complex retail auto and intricate equipment loan insurance claims, payment suspensions and deferrals.
Must possess advanced knowledge and understanding of bankruptcy laws, small claims court, repossession and foreclosure procedures.
Collect and review delinquency of all retail auto & equipment leasing, 3rd party collections and suspicious activity. Receive and review bankruptcy and receivership documents and other related documents from debtor assistance programs.
Prepare and file relative forms. Make recommendations to Manager with respect to appropriateness and effectiveness of existing policies and procedures.
Assist with research and development for recommended changes to policy and procedures for AEF. Must be current on industry trends and current fraud trends in the marketplace in order to mitigate AEF risk when collecting on delinquent and fraud accounts.
Review all Bankruptcy and Receivership documents received from Trustees, assess documentation, and plan next course of action with Collections Manager and all approving authorities.
Investigate early defaults and suspicious activity identifying fraudulent transactions such as closed accounts & first payment defaults.
Work closely with Corporate Security in the investigation, follow up and ultimate recovery of potential fraud losses. Assume collection activities on equipment delinquency over days past due in accordance with established collection policies, procedures and time constraints.
Assume collection activities on retail auto delinquency over 90 days past due in accordance with established collection policies, procedures and time constraints.
Ensure all equipment based files are concluded prior to days past due. Ensure all auto based files are concluded prior to days past due.
Prepare all reports including Watch, Impaired and Loss Reports for review by Collections Manager. Locate and contact individuals by telephone, email and by letter to discuss and establish repayment options.
Accurately document all telephone calls using standard abbreviations or memos, as appropriate in the collections system.
Verify and update customer information and maintain customer records in the collection system. Prepare and recommend payment amendments and coordinate the relative reporting.
Issue appropriate notices and coordinate the preparation of documents required for seizure. Coordinating the recovery of specialty assets.
Accurately document the status of all impaired accounts prior to month end. Assist in the analysis of assessments of security valuations.
Confirm AEF has valid security priority. Administer the follow-up on sales proceeds to assure received in a timely manner.
Maintain regular contact and reciprocal relationships on behalf of the Credit Union with various outside agencies (i.e. collection agencies, law firms, bankruptcy trustees, bailiffs, remarketers etc.
Build relationships / rapport with remarketing sources to assist in asset valuations and the selling of repossessed vehicles and equipment in an attempt to reduce our loss.
Performance Objectives (30 day delinquency less than bps, 90 day delinquency less than bps, Portfolio losses less than 50bps of Net Book Value).
Work closely with Credit Analysts and other staff to restructure deals or find solutions to problem accounts in order to promote AEF philosophy of "How Can We Help You?
while being mindful of maintaining good risk practices. Collaboratively cross-share collection knowledge and experience to team members.
Who You Are : You have a minimum 4 6 Years of Job-Related Experience in the Automotive and Equipment industry, within or outside the company and collection officer experience.
You have expert knowledge of collection policies. Possesses maturity and the presence to deal with stressful collection scenarios associated with Automotive and Equipment finance.
Acquired knowledge of consumer protection and privacy laws, litigation, small claims court, mediation, bankruptcy, foreclosure procedures and skip-tracing.
Continuous learning of policies, procedures and collection control techniques. Communication skills-training in conflict resolution, negotiation and counseling.