Senior Manager, Mortgage Default Recovery

Fairstone Financial Inc.; Toronto; On-site; CAD 100,000 - 120,000; Full time

Benefits offered by this job

Hybrid work model

Health and dental coverage

Group retirement savings plan with up

Gym access

Education assistance program

Parental leave top-up

Job summary

Fairstone Bank in Canada seeks an experienced Senior Manager, Default Recovery to lead end-to-end mortgage enforcement for delinquent and non-performing portfolios. You will maximize recoveries, reduce losses and ensure compliance with regulatory and internal policies.

You will oversee internal recovery teams and external partners, drive data-informed decisions, and build scalable processes. Strong leadership and strategic thinking are essential to partner with risk, legal and finance.

Qualifications

• University degree in finance, business, economics or related field.
• 8–12 years of experience in residential and commercial mortgage lending, collections, recovery or related roles.
• Proven leadership experience managing teams and external vendors.
• Strong understanding of debt recovery regulations, legal processes and compliance requirements.
• Experience with data-driven decision making.
• Experience with recovery systems and performance metrics.

Responsibilities

• Develop and implement recovery strategies and provide reporting to senior leadership.
• Oversee external partners and related costs and SLAs.
• Lead, coach and manage recovery teams to achieve targets.
• Oversee legal remedies according to provincial laws.
• Execute strategies for sale of security and debt recovery.
• Manage litigation, bankruptcy and settlement processes.
• Champion process enhancements with key stakeholders.
• Promote compliance and customer-centric recovery.
• Collaborate with risk, legal, finance and operations to align strategies.

Skills

Leadership

Data analytics

Stakeholder management

Strategic thinking

Communication

Problem solving

Education

Finance/economics degree

Tools

Recovery platforms

SLA management

Job description

Fairstone Bank in Canada seeks an experienced Senior Manager, Default Recovery to lead end-to-end mortgage enforcement for delinquent and non-performing portfolios. You will maximize recoveries, reduce losses and ensure compliance with regulatory and internal policies.

You will oversee internal recovery teams and external partners, drive data-informed decisions, and build scalable processes. Strong leadership and strategic thinking are essential to partner with risk, legal and finance.