Director, Mortgage Recovery & Collections Strategy

Fairstone Bank; Toronto; Hybrid; CAD 150,000 - 165,000; Full time

Benefits offered by this job

Hybrid work model

Competitive salary & incentives

Comprehensive benefits

Job summary

Fairstone Bank in Canada is seeking a Director, Mortgage Collections & Default Recovery to lead the mortgage default lifecycle, from delinquency management to insured claims. You will oversee collections, legal recovery, and real estate recovery teams, collaborating with Credit Risk, Legal, Compliance, Finance, Servicing, and insurers to drive recoveries while ensuring fair customer treatment.

The role requires strong leadership in a regulated financial institution, deep knowledge of Canadian

Qualifications

• Undergraduate degree in business, finance, economics, law or real estate.
• Min 10 years in mortgage servicing, collections, or default management.
• At least 5 years in senior people-leadership in a regulated financial institution.
• Strong knowledge of Canadian residential mortgages and enforcement rules.
• Experience managing external counsel and service providers.

Responsibilities

• Provide strategic and operational leadership across the mortgage default lifecycle from delinquency to insured claims.
• Lead collections, legal recovery, and real estate recovery teams in collaboration with risk, legal, compliance, and servicing functions.
• Own portfolio metrics, improve cure and recovery outcomes, and manage costs, timelines, and regulatory compliance.
• Maintain governance, controls and performance reporting to senior management and committees.
• Foster a high-performing, compliant culture with continuous process improvement and staff development.

Skills

Mortgage servicing

Collections

Credit risk

Real estate recovery

Regulated institution experience

Leadership

Education

Undergraduate degree in business or related field

Job description

Fairstone Bank in Canada is seeking a Director, Mortgage Collections & Default Recovery to lead the mortgage default lifecycle, from delinquency management to insured claims. You will oversee collections, legal recovery, and real estate recovery teams, collaborating with Credit Risk, Legal, Compliance, Finance, Servicing, and insurers to drive recoveries while ensuring fair customer treatment.

The role requires strong leadership in a regulated financial institution, deep knowledge of Canadian