Credit and Collections Specialist

Loop Financial; Toronto; On-site; CAD 60,000 - 75,000; Full time

Benefits offered by this job

Equity: 0.01–0.05%

3 weeks vacation

Health benefits after probation

Onsite Toronto office

Job summary

Loop Financial is seeking a Credit and Collections Specialist to own underwriting and recovery, based onsite at our downtown Toronto office. You will balance decisive lending with empathetic collections, while feeding learnings back into underwriting to improve our credit criteria.

You will handle a portfolio from origination to recovery, communicating with business owners and negotiating terms. This role offers ownership, growth, and the chance to shape Loop's credit approach as we scale.

Qualifications

• 2+ years in credit, underwriting, collections, lending, or related financial services.
• Strong analytical ability to read financial statements and assess business health.
• Sound judgment with imperfect information; know when to elevate.
• Excellent written and verbal communication; document credit decisions clearly.
• Attention to detail, organization, and follow-through; lien registrations and demand letters.
• Comfort with high volume and competing priorities in a fast-paced startup.
• Genuine interest in using data, tooling, and automation to improve credit and recovery.
• Fluency in English; conversational French preferred.

Responsibilities

• Underwrite business credit applications for Loop's products; set limits within policy or elevate when needed.
• Analyze financial statements, bank data, credit reports, and payment history to build a complete view of each business.
• Conduct due diligence and request additional documents as needed.
• Manage security agreements and register liens and security interests accurately.
• Monitor portfolio exposure; resize lines and remediate as positions change.
• Document decisions clearly for auditability.

Skills

Credit underwriting

Collections

Financial analysis

Communication

Documentation

Excel / Google Sheets

Salesforce / CRM

French (conversational)

Tools

Salesforce

Excel

Google Sheets

Google Workspace

Job description

About Loop

Loop is a rapidly growing fintech transforming how businesses manage their money. We're building the first business banking offering that is global by default, so our customers can access more markets, accelerate growth, and radically simplify their operations. Businesses are global, but banks are local — we're here to fix that and we are looking for ambitious people to join our mission.

About The Role

Hi, I'm Cato, Founder at Loop, and I'm hiring a Credit and Collections Specialist to own both ends of our credit lifecycle: the decision to lend, and the recovery when a loan goes wrong.

This role is an onsite position at our downtown Toronto office (Bay and Bloor).

Where You Come In

Most companies split underwriting and collections across two teams that never talk to each other. We don't. In this role you'll spend roughly half your time deciding who gets credit and on what terms, and the other half working directly with customers whose accounts have gone past due.

That combination is the point. You will see the downstream consequence of credit decisions, and you'll be expected to feed what you learn in collections back into how we underwrite. Nobody at Loop is better positioned to close that loop than the person doing both jobs.

You’ll be speaking with business owners every day — sometimes to structure a facility that helps them grow, sometimes to have a hard conversation about a balance they haven't paid. Success comes from balancing empathy with accountability, moving quickly without sacrificing judgment, and always looking for the practical path to a resolution.

You’ll also help build the function. Our credit book is growing faster than our processes, and we're looking for someone who wants to fix that — not just work the queue.

What You'll Be Doing

Credit (~50%)

• Underwrite business credit applications for Loop's credit card and capital products — assess creditworthiness, recommend limits, and decide within policy or elevate when a case warrants it.
• Analyze financial statements, bank account and open banking data, credit bureau reports, and payment history to build a clear picture of each business.
• Conduct due diligence on applicants and related parties, and request additional documentation where the file is incomplete.
• Manage security agreements and register liens and security interests with perfect accuracy, coordinating with customers, lenders, and vendor partners.
• Monitor the existing portfolio — reassess exposure, resize lines, and action remediation when a customer's position changes.
• Document every decision and its rationale clearly enough that someone else can audit it a year from now.

Collections (~50%)

• Own a portfolio of past-due accounts end to end, from first outreach through resolution.
• Contact customers by phone and email to collect outstanding balances and negotiate repayment arrangements that hold, while keeping the relationship intact where possible.
• Draft formal correspondence including payment reminders, document requests, and demand letters.
• Manage legal recovery matters — small claims, settlement conferences, bankruptcy and insolvency filings, process serving, and enforcement — working with internal teams, external counsel, and collection agencies.
• Maintain accurate records of every interaction and commitment in Salesforce, and report delinquency status to leadership on a regular cadence.
• Apply tact, diplomacy, and resourcefulness to handle objections and control genuinely difficult conversations.

Across both

• Identify the patterns behind delinquency and translate them into concrete changes to our underwriting criteria, monitoring triggers, and collections playbook.
• Build the scalable version of this function: better process, better tooling, more automation of the straightforward cases so human judgment goes where it's actually needed.

Who Thrives Here

We're an intense, high-growth company, and we'd rather tell you what that means now than have you discover after you join. People who do well at Loop:

• Look for leverage first. You reach for a system, a template, or a script before you reach for more resources.
• Are direct, and can take direct. We say what we mean to each other's faces. No hallway gossip, no silent disagreement, no letting a colleague fail out of politeness.
• Finish the whole job. A file isn't closed until the documentation is written, the record is updated, and the next person is briefed.
• Run at hard problems. You don't complain; you troubleshoot. A collections file nobody wants to touch is an opportunity, not a burden.
• Don't need to be managed. You'll be given real ownership early and you'll be expected to use it.

Desired Qualities, Skills, And Experience

• 2+ years in credit, underwriting, collections, lending, commercial banking, or a related financial services role.
• Strong analytical ability — you can read a financial statement and form a view on the health of a business.
• Sound judgment with imperfect information, plus the self-awareness to know when to elevate.
• Excellent written and verbal communication, including the ability to explain and document a credit decision, and to hold a difficult conversation with professionalism.
• Exceptional attention to detail, organization, and follow-through. Lien registrations and demand letters are unforgiving of sloppiness.
• Comfortable with high volume and competing priorities in a fast-paced startup environment.
• Genuine interest in using data, tooling, and automation to make credit and recovery more efficient.
• Proficiency with Excel or Google Sheets and Google Workspace.
• Fluency in English; conversational French preferred.
• It's a bonus if you have: experience underwriting small business or commercial credit; familiarity with Salesforce or similar CRM; exposure to credit bureaus, banking data, or credit decisioning platforms; experience with insolvency or legal recovery processes.

What's in it for you?

• Real ownership and meaningful career growth opportunities at one of Canada's fastest-growing fintechs.
• Exposure to the full credit lifecycle — origination through recovery.
• The chance to shape how Loop makes and manages credit decisions as we scale.
• Mentorship from leaders who are invested in your development and demanding of your output.
• A collaborative, high-performing team where your work is visible and your decisions matter.

What We Offer

• Salary range CAD $60,000–$75,000 annually, commensurate with experience
• Equity ranging 0.01–0.05%
• 3 weeks vacation
• Enrolment in the group health benefits plan after the probation period

Interview Process

• 30 minutes virtual meeting with Sarah, Chief of Staff
• 60 minutes in person meeting with two members of the team
• Take home assignment
• 30 minutes in person meeting with Cato, CEO and Co-Founder and 15 minutes with Sarah, Chief of Staff
• Background check and offer

Our Mission, Vision and Values

Mission: To help businesses seamlessly manage money around the world so they can access more markets, save money and simplify their operations

Vision: The future of business is global by default. Loop will be the first business bank that is global by default.

Values: Act with Urgency, Take Radical Ownership and Be Kind

Loop is committed to creating a diverse culture.