Note: The job is a remote job and is open to candidates in USA. BMO is a financial services company committed to creating lasting positive change for customers and communities. The High Value at Risk (HVAR) Collections Agent is responsible for minimizing financial losses and maintaining customer relations by effectively managing high value accounts and applying collection policies and procedures.
Responsibilities
- Negotiate amicable solutions by utilizing knowledge of debt collection practices, Canadian Privacy and Collection laws and processes
- Utilize sound knowledge and understanding of the terms and conditions of BMO agreements in order to effectively educate customers on their obligations of said contracts
- Act decisively and effectively when dealing with sensitive customer situations
- Acknowledge and respond to customer inquiries and escalations and, where appropriate, arrange to provide additional information either through branch, telephone or written correspondence to achieve mutually satisfactory arrangements
- Diffuse irate customers and maintain poise and perseverance in order to effectively manage customer interactions and successfully identify the root cause of issues and provide appropriate solutions
- Determine the root cause of issues and propose appropriate options in order to minimize loss, mitigate overall risk to BMO and preserve customer loyalty, where possible
- Apply advanced thinking in assessing the uniqueness of each situation in making sound decisions that balance the organizations need to minimize risk and losses
- Interview customers and update financial, demographic profiles and security status ensuring documentation is complete and accurate
- Continuously identify and recommend improvements to job operational effectiveness and advise manager of opportunities to improve processes and procedures
- Engage the customer in mutual problem solving when dealing with non-routine situational factors to create personal, unique solutions
- Maintain poise and perseverance when dealing with dissatisfied or difficult customers. Utilize highly effective analytic skills to quickly determine the root cause of delinquency and propose appropriate options on individual accounts to minimize loss, mitigate overall risk to BMO and preserve customer loyalty, where possible
- Focus at all times on loss protection to the bank and ensure that every effort is made to preserve the bank's relationship with the customer for this and future transactions, products and services
- Performs other duties and special projects as required
- Identify potential financial, legal, reputational risks and engage management team
- Leverage and share best practices and specialized knowledge with teammates and collections organization
- Collaborate closely with multiple lines of business within the organization to mitigate risk and improve performance and compliance
- Comply with all applicable BMO and Line of Business policies, standards, guidelines and controls
- Maintain BMO’s professional image and Code of Conduct
- Maintain confidentiality and security standards
- 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 collections strategies in response to findings, changes in market conditions and/or legislations
- 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
Skills
- Extensive knowledge of BMO Retail lending products and procedures related to collections
- In depth knowledge of Privacy Legislation and the Collection Act
- Strong problem solving, communication and conflict management skills
- Extensive understanding of secured and unsecured portfolios
- Good working knowledge of Bank supported or other software ie: Excel, Word, Microsoft Office etc
- Good working knowledge of Bank Systems ie: 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
- Excellent knowledge of Collection Processes and Procedures
- Knowledge of skip tracing techniques and good skip tracing skills
- Excellent verbal and written communication skills
- Professional and courteous phone manner in order to deal effectively with customers and sensitive situations
- Strong interpersonal, analytical, negotiation and decision making skills
- Demonstrated ability to resolve difficult client exchanges through high quality, service oriented interactions
- Ability to work independently or part of a small team (pairing) in a busy, fast paced environment
- Knowledge of all the BMO approved offers and solutions for delinquent clients would be beneficial
Benefits
- Health insurance
- Tuition reimbursement
- Accident and life insurance
- Retirement savings plans
Company Overview
We’re a bank, but there’s more to it than that. When you join BMO, it opens a world of opportunities. It was founded in 1817, and is headquartered in Toronto, Ontario, CAN, with a workforce of 10001+ employees. Its website is http://www.bmo.com.
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