Senior Mortgage Collection Specialist

4 weeks ago

Toronto ON, Canada Home Capital Group Full time

Requisition ID 14921- Posted -  Full Time -  Operations -  Toronto

Home Trust is Canada’s leading alternative mortgage lender, employing nearly 1,000 people in our Toronto headquarters and branches across the country. Our vision is to be Canada’s market leader in alternative-based financial services solutions. Building on the strength of our core residential mortgage lending business, the Company and its affiliates also offer complementary lending services and competitive deposit investment products through Oaken Financial, PsiGate, and CFF Bank. Our culture has been shaped by the passion and integrity of our people, and we are guided by our mission and belief that every Canadian deserves a home and the opportunity to prosper. Home Trust is a wholly-owned subsidiary of Home Capital Group, which trades on the TSX under the symbol HCG.

The Operations team manages the administration of business practices to create the highest level of efficiency possible within the organization. The group is concerned with delivering the products and services as efficiently as possible to maximize profit. The Operations team oversees people, equipment, technology, information and all other required resources in the delivery products and services. It is also responsible for driving operational excellence and supporting key business objectives while fostering a culture of respect, trust and integrity.

Position Responsibilities

Collection Calls (70%)

  • Handle outbound and inbound calls to and from all clients and related parties in order to cure arrears
  • Maintain a best-in class relationship with clients, subsequent encumbrances, solicitors and brokers
  • Provide the highest level of service & support to the administration, legal, funding, underwriting and sales & service departments
  • Receive notification of dishonoured mortgage payments; send appropriate correspondence to mortgagors and other interested parties


File Review (10%) 

  • Refer files for legal action, deferral or MOT if applicable, on a timely basis and after required collection steps are exhausted


Other Collection Activities (10%)

  • Maintain detailed and accurate documentation of all correspondence, receipt of payment, telephone communication (inbound and outbound) and matters of interest on mortgage system
  • Review mortgage system checklist and individual arrears report to ensure that files are followed up on in a timely manner for collection of arrears
  • Review all new information on client file when received, in addition to making notes on collection screens and any other screens where applicable
  • Seek management approval on any special extended payment arrangements on mortgage files that will go beyond 30 days in arrears
  • Maintain a month-end standard of 98.5% files current
  • Maintain a comprehensive knowledge of the Company’s collection policies, standards, procedures and guidelines overall


Administration (5%) 

  • Participate in all meetings by being prepared, contributing and on time
  • Monitor and respond to client inquiries with regards to payment date and frequency changes and general mortgage inquiries
  • Review new PAC information
  • Identify, recommend and implement methods to improve operating efficiency and service


Other Duties (5%)

  • Assume other duties and participate in special projects as required
  • Provide guidance to Mortgage Collection Specialists to support target achievement of 98.5%
  • First point of contact for team questions
  • Review recommendation of files for legal action, deferral, or MOT submitted by Mortgage Collection Specialists
Formal Education
  • Post secondary degree or diploma required (University degree preferred) in Business or equivalent
Related Experience
  • 1 year in a collection environment
  • 2 years in an office administrative environment
Skills
  • Problem solving - exceptional
  • Proactive/ takes initiative/ self starter
  • Communication (verbal and written) - excellent
  • Quality focused
  • Professional maturity- exceptional
  • MS Office Suite - advanced
  • Analytical thinking
  • Risk management objectives and processes - expert knowledge
Position Complexities
  • Bilingualism an asset
  • Some work beyond standard hours
Acknowledgement

All employees of Home Capital Group Inc. must comply with all applicable Home Capital Group Inc, Home Trust Company, and specific Line of Business policies, standards, guidelines and controls. Additionally, all employees are obligated to become familiar with Home’s risk management framework and understand the operational risk management requirements within their specific business. Employees are also expected to understand and comply with the Company’s Code of Business Conduct & Ethics Policy at all times and escalate any issues or concerns through various reporting channels (i.e. Ombudsman, Compliance Hotline, Whistleblower Policy, etc).

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