The Senior Credit Risk Associate position supports the management of the collection portfolio at BlueShore Financial. Acting as a leader within the department, the primary objective of this role is to mitigate loss and any potential financial exposure. This includes responsibility for all accounts assigned to the Credit Risk team, with a focus on complex commercial and leasing delinquencies. The incumbent functions as team lead and acts as back up to Manager, Credit Risk Services in their absence.
Closing Date: February 27, 2020
Employee Type: Full Time
Job Category: Collections/Credit
Location: 1250 Lonsdale
Key responsibilities of this role are:
As the team lead, provides ongoing coaching to team members on the principles of credit risk and collection management, trains and mentors new employees, and facilitates regular staff meetings.
Performs full case management of accounts including; investigation, negotiation, documentation and client communication for collection on overdue accounts.
Meets with clients to understand and assess their financial situation, obtain and document necessary information and determine a course of action that minimizes potential losses to the credit union.
Manages the seizure/repossession process. This includes; instructing external partners (bailiffs, auction houses, equipment vendors; solicitors; process servers); remarketing and reselling seized assets to mitigate losses.
Conducts cost/benefit analysis of alternative solutions, including the pursuit of legal action, to determine the solution that is most cost effective for the credit union. If appropriate, initiates litigation on outstanding balances in a cost efficient manner.
Manages small claims and Supreme Court processes, judgements and enforcement measures such as, garnishees, mediation, settlement conferences, through to resolution.
Manages the full foreclosure cycle, including completing, reviewing and coordinating documentation, sale of assets, and providing instruction to external partners (realtors, solicitors, receivers etc.)
Builds third party relationships that support the collection process, i.e. bailiffs, realtors, equipment vendors; auction houses; solicitors, collections agencies, etc.
Maintains historical and current records of account delinquency and on activities of written-off accounts.
Assists BlueShore Financial in legal actions related to collection, including all appropriate legal research, documentation and filing, court proceedings and eventual resolution or judgment follow-through.
Makes tangible, supported recommendations for loss provisions and/or write-offs; manages the collection recoveries of previously written off accounts.
Assists in the development of delinquency controls as markets change, recommends and/or initiates analysis of statistical data to forecast or support trends to minimize losses. i.e. clients bureau scores; portfolio weightings; individual and/or branch delinquency trends.
Prepare or update reports as required by senior management
Provide the highest level of service and support to internal clients such as administration, legal, funding, underwriting and sales & service departments
Handle Bankruptcy and Estate claims from start to finish; filing Proof of Claim; reviewing bankruptcy statement of affairs for discrepancies, challenge the bankruptcy if necessary; attend creditors meetings; obtains release of interest if applicable; contests automatic discharges if applicable.
Conducts Annual reviews of Business LOC’s that are non-performing up $50,000
Chairs the monthly leasing watch list meeting and advises on action being taken to collect accounts. Updates leasing department on market conditions and suggestions on mitigating risk.
Understands the regulatory and compliance requirements applicable to one’s scope of responsibility. Incorporates regulatory and compliance requirements into existing business processes and activities
Identifies opportunities to mitigate potential risk and/or strengthen compliance activities in daily operations and recommends to manager. Creates or revises policies in consultation with Manager.
Qualifications and Experience
4 to 6 years solid experience in the Financial Services Industry
5 years solid experience in a collections related position.
Expert knowledge of Leasing Collections.
Expert knowledge of Collections and skip tracing procedures.
Solid understanding of commercial underwriting, financial accounting and statement analysis.
Solid understanding of Bankruptcy and Estate Claims
Solid background in credit analysis and credit structuring
Solid Understanding of Small Claim and Supreme Court forms and procedures
Solid Understanding of Collection Laws and procedures in Canada
Solid understanding of Business Law and practices.
Basic Understanding of the PPSA (Personal Property Security Act) , BPCPA (Business Practices Consumer Protection Act) and other regulations affecting BlueShore Financial lending operations
Expert interviewing, negotiating and mediation techniques to obtain factual information to obtain desired results.
Solid Understanding of Default Management tools including CMHC and Genworth mortgages insurance policies
Post secondary related courses would be considered an asset, i.e. business management, finance, accounting, lending
What can BlueShore Financial can do for you?
A Performance Rewards Program which pays a variable cash reward recognizing the achievement of corporate, team and individual goals.
Limitless career progression opportunities.
Comprehensive Total Rewards Program including bonuses, pension, flexible benefits and competitive compensation.
Opportunity to work in a world class, award winning organization.
What BlueShore Financial needs from you:
Accountability, in all directions.
“Can do” attitude.
The drive to provide a premium level of service regardless of location or position.
Professional appearance and manner.
Got awards? At BlueShore Financial we are constantly innovating, connecting and improving to deliver exceptional client and employee experiences. As a result, we have grown to become an award winning organization, garnering both local and national attention for our progressive practices.
Be Richly Valued. At BlueShore Financial, our employees are as important as our clients. We strive to create a workplace culture of openness, empowerment, trust and passion. Our values unite our organization and are our guiding compass. But it is our exceptional staff that bring our corporate values to life. They are passionate about delivering exceptional client service and a banking experience that promises to impress. And this level of engagement shows. We've been formally recognized making Aon’s "Best Employers in Canada" list nine years in a row and as one of "Canada's Most Admired Corporate Cultures" in Canada by Waterstone Human Capital.
From the moment you walk into one of our Financial Spas™, you’ll know you’ve arrived at a special place, where all the elements work together to stimulate the senses and create a distinctive atmosphere unlike any financial institution you’ve experienced. We embrace the west coast lifestyle, while providing a premium and sophisticated experience for our clients and employees. You may not recognize us, but we've been serving the lower mainland for almost 75 years! But this isn’t the Credit Union of your childhood. We’re different and better.