Strategic Loss Mitigation & Collections Advisor

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

Benefits offered by this job

Health insurance

Tuition reimbursement

Accident and life insurance

Retirement savings plans

Job summary

BMO U.S. in Cedar Rapids seeks a Collections professional to review delinquent and high-risk accounts, advise customers on payment strategies, and provide collections-related sales and service to customers and prospects.

You will follow approved procedures and support loss mitigation processes. You will deliver exceptional service, build rapport with clients, and collaborate with internal teams to maximize recovery while protecting the bank’s interests.

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.
• Knowledge of competitive marketplace and trends in product offerings.
• Specialized knowledge from education and/or business experience.
• Verbal & written communication skills - In-depth.
• Collaboration & team skills - In-depth.
• Analytical and problem solving skills - In-depth.
• Influence skills - In-depth.

Responsibilities

• Delivers exceptional customer service that builds trust through expertise, responsive service and support.
• Sends out client communications, transaction processes, and interfaces with operations partners to ensure customer needs are met.
• Develops rapport and instils confidence with clients to earn their trust as relationship manager.
• Develops and maintains long-term, profitable relationships and expands share of wallet.
• Contacts customers to obtain information to manage applications and keep customers informed of status of payments.
• Handles incoming calls professionally and efficiently.
• Addresses escalated customer requests and transactions.
• Probes to understand customer needs and provides advice on payments and collections strategies.
• Supports the execution of strategic initiatives in collaboration with stakeholders.
• Develops action plans to maximize recovery and safeguard the Bank’s interests.
• Establishes expertise with Consumer Collections personnel as a resource and coach.

Skills

Verbal & written communication skills

Collaboration & team skills

Analytical and problem solving skills

Negotiation skills

Risk management awareness

Education

Post-secondary degree in related field

Job description

BMO U.S. in Cedar Rapids seeks a Collections professional to review delinquent and high-risk accounts, advise customers on payment strategies, and provide collections-related sales and service to customers and prospects.

You will follow approved procedures and support loss mitigation processes. You will deliver exceptional service, build rapport with clients, and collaborate with internal teams to maximize recovery while protecting the bank’s interests.