Loss Mitigation & Collections Relationship Manager

BMO; Cedar Rapids (IA); On-site; USD 42,000 - 80,000; Full time

Benefits offered by this job

Health insurance

Tuition reimbursement

Life insurance

Retirement savings plans

Job summary

BMO is seeking a Collections Specialist to review delinquent and high-risk accounts, advise customers on payment strategies, and drive recovery while ensuring exceptional service. You will support loss mitigation and collaborate with internal partners to protect the bank’s interests.

The role emphasizes building trust with customers, maintaining confidentiality, and applying risk-aware decision making within established guidelines.

Qualifications

• Typically between 3 - 5 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• Knowledge of Credit Qualifications and associated credit knowledge and skills according to the established qualification standards.
• Knowledge of federal, state/provincial and local laws pertaining to Consumer Collections and functional area - Good.
• Knowledge of BMO products and services - Good.

Responsibilities

• Delivers exceptional customer service that builds trust through expertise, responsive service and support.
• Develops rapport and instils confidence with clients in order to develop credibility and earn their trust as relationship manager.
• Contacts the customer to obtain the necessary information to manage their application (as required) ensuring the customer is aware at all times of the status/result of the present and future payments.
• Handles incoming calls in an informed, professional, and efficient manner.
• Escalates complex or unresolved customer situations to managers as required.
• Reviews accounts and analyzes data and information to determine the probability of collection; provide insights and recommendations.
• Gathers and formats data into regular and ad-hoc reports, and dashboards.
• Develops and executes short term tactics/plans to drive specific behaviours, activities, and results.
• Maintains confidentiality of customer and Bank information.
• Supports continuous improvement initiatives by identifying and implementing changes to make processes more effective and efficient.

Skills

Customer service

Relationship management

Negotiation skills

Communication skills

Education

Post-secondary degree

Job description

BMO is seeking a Collections Specialist to review delinquent and high-risk accounts, advise customers on payment strategies, and drive recovery while ensuring exceptional service. You will support loss mitigation and collaborate with internal partners to protect the bank’s interests.

The role emphasizes building trust with customers, maintaining confidentiality, and applying risk-aware decision making within established guidelines.