Collections Manager, Special Accounts

Momentum Financial Services Group; Toronto; On-site; CAD 70,000 - 100,000; Full time

Job summary

A leading financial services company is seeking a Collections Manager for Special Accounts in Toronto. The role involves overseeing complex collections, developing strategies, and leading a team to ensure compliance and optimize recovery. Ideal candidates should possess strong analytical skills, relevant experience, and a collaborative mindset to enhance customer experiences. The position promises a dynamic work environment with a focus on achieving operational goals.

Qualifications

• 5+ years of experience in collections, focusing on special accounts.
• At least 2 years in a supervisory role.
• Strong knowledge of relevant regulations governing collections.

Responsibilities

• Oversee the management of special accounts, ensuring compliance.
• Supervise and mentor a team of collections specialists.
• Develop and implement strategies for collections on special accounts.

Skills

Interpersonal Skills

Analytical Skills

Negotiation Skills

Communication Skills

Leadership

Education

Bachelor’s degree in Business, Finance, or a related field

Credit and Collection Specialist certification

Tools

Collections software

Microsoft Office Suite

Job description

Momentum Financial Services is a leading provider of financial services in North America. For 40 years, we've been committed to providing financial solutions that meet the evolving needs of consumers and business owners. Through our retail network of over 400 locations, known as Moneymart, Insta Cheques and the Cheque Cashing store, we provide access to cash and related products to help our customers achieve their goals.

Our highly skilled workforce puts customers first in everything we do. We serve 2 million people annually with diverse and innovative financial products such as loans, cheque cashing, money transfer and prepaid cards. Through this ever-evolving suite of services, we empower customers to manage their finances and improve their lives. Wherever customers are on their financial journey, Momentum Financial Services Group provides solutions.

GENERAL FUNCTION

The Collections Manager for Special Accounts is responsible for overseeing the management of complex collection accounts, including consumer proposals, deceased accounts, and credit counseling cases. This role involves developing and implementing strategies to effectively manage these sensitive accounts, ensuring compliance with applicable regulations while maximizing recovery rates. The manager will lead a dedicated team, provide training, and collaborate with external partners to optimize collection efforts and enhance customer experience.

DUTIES/RESPONSIBILITIES

• Account Management:Oversee the management of special accounts, including consumer proposals, bankruptcies, deceased estates, and accounts in credit counseling, ensuring adherence to all legal and regulatory requirements.
• Team Leadership:Supervise and mentor a team of collections specialists, providing guidance on best practices for handling sensitive accounts. Foster a positive and collaborative team environment.
• Strategy Development:Develop and implement tailored strategies for collections on special accounts, focusing on maximizing recoveries while maintaining ethical standards and compliance.
• Communication and Collaboration:Act as a liaison between the organization, clients, and external partners (such as credit counseling agencies and legal representatives) to facilitate resolution of special accounts.
• Training and Development:Provide training to collections staff on handling special accounts, including negotiation techniques and regulatory compliance related to consumer proposals and deceased accounts.
• Performance Analysis:Monitor and analyze key performance indicators (KPIs) related to special accounts. Prepare regular reports for senior management, highlighting successes and areas for improvement.
• Policy Development:Establish and maintain policies and procedures for managing special accounts, ensuring alignment with organizational goals and compliance with industry regulations.
• Dispute Resolution:Address and resolve disputes related to special accounts, utilizing effective negotiation skills and maintaining a focus on customer service.

QUALIFICATIONS

• Bachelor’s degree in Business, Finance, or a related field; relevant certifications (e.g., Credit and Collection Specialist) preferred.
• 5+ years of experience in collections, with a focus on special accounts or similar areas, and at least 2 years in a supervisory role.
• Strong knowledge of relevant regulations governing collections, consumer proposals, and credit counseling.
• Excellent interpersonal and communication skills, with a strong ability to build relationships with clients and external partners.
• Proven analytical skills, with the ability to interpret data and make informed decisions.
• Proficient in collections software and Microsoft Office Suite.
• Strong leadership skills with a focus on team development and performance management.

This position may require occasional evening or weekend work to meet operational needs. The Collections Manager for Special Accounts will work in a fast-paced environment focused on achieving recovery targets while ensuring a positive experience for clients.

Additional Information

All your information will be kept confidential according to EEO guidelines.

*Notice to Ontario Applicants –Momentum Financial Services Groupis committed to accommodating applicants with disabilities up to the point of undue hardship during the recruitment, assessment, and selection process. If you are selected for an interview, please notifyMomentum Financial Services Group if you require accommodation in respect of the materials or procedures used at any time during this process. If you require accommodation,we will work with youto determine how to meet your needs.

Note to Internal Applicants: All internal applicants are required to notify current manager regarding interest in applying for this role.

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