We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients.

At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.

To learn more about CIBC, please visit CIBC.com

What you’ll be doing:

The Collections Loss Mitigation Officer position will require the ability to manage all stages of delinquency including legal status, develop workout structures for matured credits, and contact delinquent consumer accounts to perform appropriate collection actions.

At CIBC we enable the work environment most optimal for you to thrive in your role. You’ll have the flexibility to manage your work activities within a hybrid work arrangement where you’ll spend 2+ days per week on-site, while other days will be remote.

How you’ll succeed:

Perform collection activity on delinquent accounts from early intervention to 120+ days past due.Develop appropriate collection strategies and follow-up procedures on problem accounts.Obtain thorough understanding of customer’s delinquency to determine appropriate collection strategies.Utilize the collection system application to organize, record, and minimize financial and regulatory risk exposures while collecting on delinquent consumer loans for various CIBC Bank USA profit centers and business lines.Work standard delinquency queues as well as charged off accounts and recoveries.Evaluate customer information, collateral and equity positions as it relates to past due and legal status loans.Analyze distressed, and/or matured credits and determine workout structures.Perform a wide variety of collection functions on assigned accounts which may include elevating financial distress situations, bankruptcies, potential fraud, and disputes.Understand financial situations of the customer to develop and recommend action plans to address collection and legal situations.Adhere to established guidelines, laws, and policies when deciding on appropriate collection remedy.Maintain comprehensive documentation within the framework.Perform various loss mitigation research projects as needed.Assist in the development, administration, and implementation of compliance initiatives of new/modified policies, procedures or processes.Operate in full compliance with internal policies and procedures as well as applicable regulations and laws.Ability to understand consumer lending product guidelines, rate sheets, and underwriting analysis.Assist with participating in Consumer Loan operating or risk quality control matters and special projects related to the responsibilities of the Director of Collections and Loss Mitigation. 

Who you are:

Minimum of 5 years consumer banking experience and 2 years of experience in consumer real estate collections/loss mitigation role -preferred.Proficient in Microsoft Office including Excel, Word, Outlook, and PowerPoint.Experience using origination and servicing system (Encompass & FIS)Ability to learn new software applications.Comprehensive understanding of federal, state, and local consumer lending regulations relevant to the position.Interpret current and new regulations and assist in documentation of policies and procedures.Ability to determine the right credit structure to meet the customer needs.A results oriented approach and ability to follow-up on assignments.Evaluate customer financial statements, collateral and equity positions as it relates to past due and legal status loans.Ensure verbal and written communication with customers is timely, clear, and accurate.Ability to collaborate with co-workers and effectively communicate with all levels of management through both verbal and written communication.Demonstrated ability to work directly with internal contacts, attorneys, and recovery agents to perform various tasks.Bi-lingual (Spanish) strongly recommended.Ability to function in a fast-paced environment, dealing with a high volume of calls, and sometimes working with antagonistic customers.Required licensing for SAFE Act-NMLS.Values matter to you. You bring your real self to work and you live our values - trust, teamwork, and accountability. 

At CIBC, our people are our greatest asset. You’ll become part of a diverse community that acknowledges everyone’s unique talents, and empowers teams to do what’s right for the client and to do it well. As part of our team, you will:

Thrive: Benefit from an open and approachable culture that provides the flexibility and support you need to integrate your life at work and home.Connect: Work in a place where the right technology and infrastructure foster innovation, collaboration, and creativity.Develop: Grow your skills and career through our best-in-class onboarding experience, ongoing learning opportunities, individual development planning, and comprehensive product training.Prosper: Share in our collective success with a competitive salary, incentive pay, banking benefits, health benefits programs, retirement savings, and more.

California residents — your privacy rights regarding your actual or prospective employment

At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $69,200 - $75,000 for the market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which may also include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave and Vacation), Holidays and 401(k), in addition to other special perks reserved for our team members.

What CIBC Offers

At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.

We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program*, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.

Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.

We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.

*Subject to plan and program terms and conditions

What you need to know

CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com

You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.

We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.

Job Location

IL-70 W Madison St, 9th Fl

Employment Type

Regular

Weekly Hours

40

Skills

Analytical Thinking, Client Satisfaction, Initiating Change, Large Group Presentations, Operations Management, Quality Monitoring, Regulatory Management, Strategic Management