Manager High Risk Collections

Bank of Montreal; Mississauga; Remote; CAD 51,000 - 97,000; Full time

Job summary

A leading bank in Canada is seeking a High Risk Collections Manager to develop a high-performing team. The position requires expertise in managing delinquent accounts, customer service, and ensuring compliance with regulations. Ideal candidates will possess strong analytical and communication skills, alongside a post-secondary education.

Qualifications

• Typically 4-6 years of relevant experience.
• Knowledge of consumer collections laws and BMO products.
• Technical proficiency is required.

Responsibilities

• Manage a high-performing collections team and customer interactions.
• Develop action plans to maximize recovery and mitigate losses.
• Provide coaching and training to collections personnel.

Skills

Communication

Collaboration

Analytical Skills

Influence Skills

Data-driven decision-making

Education

Post-secondary degree or equivalent

Job description

Application Deadline:

06/08/2025

Address:

VIRTUAL(R)59 - REMOTE/TELETRAVAIL - ON - BMO

High Risk Collections is seeking a highly motivated, experienced Manager to develop a high-performing team. This role requires a fully flexible work schedule from 8:00 am to 11:45 pm, Monday to Friday, with weekend rotation.

The Manager will collaborate in reviewing and evaluating delinquent, high-risk, or written-off accounts for potential collection opportunities. The role involves understanding customer needs, providing collections-related sales and service to BMO customers or prospects, advising on payment strategies and products, and fulfilling sales and service activities according to established procedures. Support areas may include coaching, training, quality audits, vendor management, and credit collection disputes.

• Foster a culture aligned with BMO's purpose, values, and strategy, role-modeling these in all activities.
• Ensure diversity and inclusion are integrated into team practices and behaviors.
• Connect work to BMO’s purpose, set inspiring goals, define clear outcomes, and establish accountability.
• Build collaborative, interdependent teams across functions to maximize value for stakeholders.
• Attract, retain, and support the career development of top talent.
• Improve team performance through recognition, coaching, and managing poor performance.
• Deliver exceptional customer service to build trust through expertise and responsiveness.
• Manage client communications, transactions, and interface with operational partners to meet customer needs.
• Develop rapport and credibility with clients as a relationship manager.
• Maintain long-term, profitable customer relationships and expand share of wallet.
• Contact customers to gather necessary information and keep them informed of their account status.
• Handle incoming calls professionally and efficiently, addressing escalated requests as needed.
• Understand customer needs and provide advice on payments and collections strategies.
• Incorporate marketing promotions into customer interactions appropriately.
• Execute loss mitigation processes for high-risk accounts, including loan modifications and foreclosure alternatives.
• Provide guidance on solutions implementation and support strategic initiatives.
• Develop action plans to maximize recovery and protect the bank's interests.
• Support and train collections personnel, utilizing negotiation and interpersonal skills within regulatory guidelines.
• Review accounts, analyze data, and provide insights and recommendations for collections.
• Generate reports, dashboards, and conduct audits and spot checks.
• Develop tactical plans to drive behaviors and results, manage transactions, and escalate issues as needed.
• Document customer requests accurately and streamline processes through information integration.
• Lead or participate in designing and managing core business processes and training programs.
• Support the collections lifecycle, including executing loss mitigation solutions to minimize losses.
• Maintain confidentiality and stay informed of industry trends, best practices, and regulations.
• Work independently on complex tasks and adapt to broader responsibilities as needed.

Qualifications:

• Typically 4-6 years of relevant experience, with a post-secondary degree or equivalent.
• Knowledge of credit qualifications, federal and local laws pertaining to consumer collections, and BMO products and services.
• Technical proficiency, strong communication, collaboration, analytical, and influence skills.
• Data-driven decision-making skills.

Grade: 6

Job Category: People Manager / Gestionnaire

Salary: $51,800.00 - $96,500.00

Pay Type: Salaried

The salary reflects BMO's compensation range, role-based, and may vary based on factors such as location, skills, and experience. It may include incentives, bonuses, and other benefits. For more details, visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

BMO is driven by a shared purpose to grow the good in business and life, creating positive change for customers, communities, and employees. We value diversity, inclusion, and accessibility, providing accommodations upon request.