If you're passionate about your community, adore making an impact, thrive in a fast-paced environment and want to make a difference, then we're looking for you! When you join our team, you’re joining an organization with deep roots, big ideas, and a commitment to doing what’s right.
We work as one connected team, and value thinking big, acting local, taking charge, and making things easy.
We look for people who :
Share our values
Enjoy having honest conversations, about real things, as real people
Believe that creating great experiences is totally within their control
Build positive relationships and an understanding of what people’s needs are
See solutions and possibilities (not problems!)
Are simply outstanding at what they do
Key Accountabilities :
Monitors collection and delinquency performance and coordinates timely production of monthly and quarterly reports to management and Board, as well as providing enhanced knowledge and advice pertaining to loan portfolio risk and trends on problem accounts.
Initiates and manages the foreclosure process or other realization proceedings as appropriate in order to attain maximum recovery for the credit union.
For more complex or larger problem loans, develops a specific collection management strategy and action plan through to resolution;
takes an active role in representing the credit union in litigation.
Acts as a lenders resource by providing coaching relating to problem loan identification, resolution and restructuring.
Approves or recommends restructures for retail and commercial / agricultural accounts within assigned limits and authorities.
Makes tangible, supported recommendations for write-offs; analyzes the underlying reasons for losses and provides feedback to the regions and the Management Credit Committee for learning opportunity.
Oversees security value decisions regarding special loans files and ensures Finance & Corporate Analytics department is kept up to date on all material changes in security value.
Ensures accuracy of risk ratings and expected credit loss model data.
Liaises with regulators, internal and external auditors in regards to overall performance of loan portfolio including delinquency, watch list accounts, provisions, write-offs and recoveries.
Develops and oversees relationships with collection resources in order to manage loan portfolio risk. (E.g. solicitors, receivers, appraisers, auction house and bailiffs.)
Provides technical input into the development of credit / collections policies, thresholds, and decision-making protocol related to the approval of credit across all regions.
Ensures all loan file concerns are addressed promptly, corrected where possible, and that timely recovery of assets is initiated where warranted;
ensures losses of accounts managed by the special loans and collections team are minimized.
Provides leadership to the special loans and collections teams by reinforcing best practices, developing and coaching direct reports, setting departmental goals, evaluating performance, and providing frequent
Actively engages in representing the credit union within the community and select networking groups.
E xperience and / or Educational Requirements :
8 years’ experience in commercial banking, with preference given to a credit role.
5 or more years of experience in various roles in insolvency / bankruptcy and / or restructuring including retail collections.
Evidence of thought leadership and contributions to best practices within the insolvency industry.
5 years’ experience in a management role.
Knowledge of a wide variety of industries.
Completed a relevant certificate, diploma, degree or designation program.
An equivalent combination of education and experience may also be
Knowledge of relevant legislation and regulation relating to credit and collections environment. Specifically relevant sections of the Credit Union Act and other applicable legislation, Credit Union Deposit Guarantee Corporation policies and direction, Connect First policies and lending procedures, lending authorities and limits.
Skills and Competencies :
Member focused, acts as a trusted advisor to members, both internal and external. One who relates well to all kinds of people, and balance the needs of the member with the needs of Connect First.
Exceptional interpersonal effectiveness skills; able to quickly build relationships with others who are experiencing difficulty. Strong empathy.
Makes sound decisions based upon a mixture of analysis, policies, procedures, experience, and judgment.
Excellent critical thinking and problem solving skills
Advanced knowledge of collections management and mitigation including collection practices, work out arrangements, forbearance agreements, and insolvency / receiverships.
Excellent organizational and multi-tasking skills.
Mental toughness and ability to effectively negotiate and reach a satisfactory financial conclusion on collection / delinquency matters.
Remains current on emerging legislative and regulatory changes within field of expertise and
Excellent report writing skills.