Application Deadline:

02/18/2025

Address:

2465 Argentia Road

Job Family Group:

Customer Shared Services

Manages a dynamic team responsible for Canadian post write off retail activities for the Bank of Montreal.  Has overall responsibly to deliver optimum customer outcomes while meeting bank targets and delivering an excellent employee experience.  As Senior Manager, you will be responsible for day to day operations for insolvency, 3rd party agencies, litigation, fraud and debt sales.   

The Senior Manager, Default Operations, collaborates in the review and evaluation process of abandoned or written-off accounts for possible collections opportunities. Understands customer needs and provides collections-related sales and service to BMO customers or prospects. Advises customers on payment strategies and products that meet their objectives. Fulfills sales and service activities as they relate to collections / recoveries for the customer in accordance with approved procedures. Support areas may include, but are not limited to, coaching and training, quality audits, vendor management and credit collection disputes.

Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.Builds interdependent teams that collaborates across functional and operating groups to create the highest value for all stakeholders.Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.Delivers exceptional customer service that builds trust / confidence through expertise, responsive service and support. Provides advice related to payments and overall collections strategies in the best interests of the customer.Develops and maintains long-term, profitable relationships with vendors and expands share of wallet.Reviews and continually monitors performance of existing accounts and client relationships and drives tactic / plans to maximize results. Sets business priorities.Reinforces recovery processes and client experiences, identifies gaps, issues and best practices through the monitoring of recoveries and performance targets against plans in order to create and sustain consistent superior service and financial results.Process owner of established loss mitigation processes/procedures for the resolution of non-performing and high risk accounts.Provides advice and guidance to assigned business/group on implementation of solutions.Identifies emerging issues and trends to inform decision-making.Acts as a subject matter expert on relevant regulations and policies.Networks with industry contacts to gain competitive insights and best practices.Reviews accounts and analyzes data and information to determine the probability of collection; provide insights and recommendations.Completes report audits and spot checks as required.Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.Leads the execution of operational programs / tools / training; assesses and adapts as needed to ensure quality / effectiveness of execution.Collaborates in efficient functioning of collections life cycle. Includes participating in the execution of established loss mitigation solutions for the successful resolution of non-performing and high risk accounts. Solutions range from various loan modification options to liquidation for borrowers with delinquent and high risk loans in order to offer default / foreclosure alternatives and minimize losses.Maintains current knowledge of collections strategies, practices, and trends and integrates into customer conversations in a professional manner.Supports continuous improvement initiatives by identifying and implementing changes to make processes more effective and efficient.Develops and maintains awareness of industry trends and best practices and the regulatory environment as it relates to collections products and services.Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.

Qualifications:

Typically 7+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.Knowledge of federal, state/provincial and local laws pertaining to Retail Collections and functional area - Expert.Experience managing post write off activities such as insolvency, agencies and litigation - ExpertNegotiation skills – In-depth.Seasoned professional with a combination of education, experience and industry knowledge.Verbal & written communication skills - In-depth / Expert.Analytical and problem solving skills - In-depth / Expert.Influence skills - In-depth / Expert.Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.Able to manage ambiguity.Data driven decision making - In-depth / Expert.

Salary:

$84,000.00 - $156,000.00

Pay Type:

Salaried

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at https://jobs.bmo.com/ca/en.

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. To request accommodation, please contact your recruiter.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.