Virtual Collections Agent - High Value At Risk (HVAR), Bilingual (English & French)

BMO; British Columbia; Remote; CAD 43,000 - 81,000; Full time

Job summary

A leading financial institution is seeking a Collections Agent to work remotely. The role involves negotiating solutions, managing sensitive customer situations, and upholding compliance standards. Candidates should have strong collections experience and effective communication skills. The salary ranges from $43,200 to $80,300, with additional perks like health insurance and retirement plans.

Benefits

Health insurance

Tuition reimbursement

Accident and life insurance

Retirement savings plans

Qualifications

• Must have Collections experience.
• Excellent verbal and written communication skills.
• Ability to work independently or in a team.
• Demonstrated ability to resolve difficult client exchanges.

Responsibilities

• Negotiate amicable solutions with customers.
• Respond to customer inquiries and escalations.
• Determine root causes of issues and provide solutions.
• Maintain confidentiality and security standards.

Skills

Collections experience

Analytical skills

Negotiation skills

Communication skills

Tools

Excel

Microsoft Office

Job description

Application Deadline: 10/02/2025

Address: VIRTUAL(R)61 - REMOTE/TELETRAVAIL - QC - BMO

Job Family Group: Customer Shared Services

Must have Collections experience.

Schedule availability: Mon - Fri 8:00 am to 10:30 pm flexibility (weekly rotation of day/evening shifts), Sat - 8:00 am to 4:00 pm bi-weekly rotation, Sun - 1:00 am to 8:00 pm bi-weekly rotation

BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

BMO Financial Group strives to create a workplace that:

• Values new ideas, different perspectives and the opinions of all employees.
• Promotes teamwork and draws on the strength of each employee.
• Supports individual needs & welcomes and celebrates our differences.
• Provides the tools and resources so that each employee can contribute to their full potential

A High Value at Risk (HVAR) Collection agent is responsible for protecting our value proposition, reducing our assignments to third parties, and maximizing liquidation of the portfolios worked by the team.

Key Accountabilities

• Negotiate amicable solutions by utilizing knowledge of debt collection practices, Canadian Privacy and Collection laws and processes.
• Utilize sound knowledge and understanding of the terms and conditions of BMO agreements in order to effectively educate customers on their obligations of said contracts.
• Act decisively and effectively when dealing with sensitive customer situations
• Acknowledge and respond to customer inquiries and escalations and, where appropriate, arrange to provide additional information either through branch, telephone or written correspondence to achieve mutually satisfactory arrangements.
• Diffuse irate customers and maintain poise and perseverance in order to effectively manage customer interactions and successfully identify the root cause of issues and provide appropriate solutions.
• Determine the root cause of issues and propose appropriate options in order to minimize loss, mitigate overall risk to BMO and preserve customer loyalty, where possible.
• Apply advanced thinking in assessing the uniqueness of each situation in making sound decisions that balance the organizations need to minimize risk and losses.
• Interview customers and update financial, demographic profiles and security status ensuring documentation is complete and accurate.
• Continuously identify and recommend improvements to job operational effectiveness and advise manager of opportunities to improve processes and procedures
• Engage the customer in mutual problem solving when dealing with non-routine situational factors to create personal, unique solutions.
• Maintain poise and perseverance when dealing with dissatisfied or difficult customers.
• Utilize highly effective analytic skills to quickly determine the root cause of delinquency and propose appropriate options on individual accounts to minimize loss, mitigate overall risk to BMO and preserve customer loyalty, where possible.
• Focus at all times on loss protection to the bank and ensure that every effort is made to preserve the bank's relationship with the customer for this and future transactions, products and services.
• Performs other duties and special projects as required.

CROSS-FUNCTIONAL RELATIONSHIPS

• Identify potential financial, legal, reputational risks and engage management team
• Leverage and share best practices and specialized knowledge with teammates and collections organization
• Collaborate closely with multiple lines of business within the organization to mitigate risk and improve performance and compliance.

COMPLIANCE REQUIREMENTS/RESPONSIBILITIES

• Comply with all applicable BMO and Line of Business policies, standards, guidelines and controls.
• Maintain BMO's professional image and Code of Conduct.
• Maintain confidentiality and security standards.

AUTHORITIES/DECISION RIGHTS

• Drive the decision making process based on gathered facts, data, observation, and analysis
• Communicate and present information to various management levels within BMO.

JOB DIMENSIONS

• Leverage networks and improve knowledge of collection, governance, audit and compliance practices to effectively adapt collections strategies in response to findings, changes in market conditions and/or legislations.
• Research, gather data, analyze, lead and/or provide support, as required and recommend solutions to management.
• Represent the business unit as a subject matter expert in inter-departmental policy and procedures implementation and meetings

KNOWLEDGE AND SKILLS

• Extensive understanding of secured and unsecured portfolios
• Good working knowledge of Bank supported or other software ie: Excel, Word, Microsoft Office etc.
• Good working knowledge of Bank Systems ie: Strata, ECP, angular tool, TSYS, Optimizer, MDIF
• Good working knowledge of Financial Statements, Bank OFSI standards and Business Recovery Planning.
• Good practical knowledge of Business Computer Systems
• Excellent knowledge of Collection Processes and Procedures
• Knowledge of skip tracing techniques and good skip tracing skills.
• Excellent verbal and written communication skills.
• Professional and courteous phone manner in order to deal effectively with customers and sensitive situations.
• Strong interpersonal, analytical, negotiation and decision making skills.
• Demonstrated ability to resolve difficult client exchanges through high quality, service oriented interactions.
• Ability to work independently or part of a small team (pairing) in a busy, fast paced environment.

Salary: $43,200.00 - $80,300.00

Pay Type: Salaried

BMO Financial Group's total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans.

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