Sr. Risk Manager, Loss Mitigation

3 weeks ago

Montreal, Canada Purpose LP Full time
Sr. Risk Manager, Loss Mitigation (Bilingual - FR & EN)

Thursday, May 23, 2024

Purpose Unlimitedis an independent financial services company with an unrelenting focus on customer-centric innovation, delivered through technology-driven solutions. Led by entrepreneur Som Seif, the company is developing a diversified product platform aimed at addressing historically underserved segments of the market. Purpose Unlimited's businesses include Purpose Investments, Advisor Solutions by Purpose, and Driven.

Who is DRIVEN?

At DRIVEN, we are changing the landscape of financial technology Simply put, our mission is to empower Canadian small businesses through innovative financial services. At the heart of our offering is our digital experience, which is powered by our proprietary software platform, our real-time connections to a multitude of data sources, and our advanced data science models. We are squarely in the corner of owners and entrepreneurs, providing for them, and at the right moment, the financial support they need to grow and thrive.

Role Overview:

Driven's Risk team plays a pivotal role in overseeing the lending portfolio and transforming risk management into Driven’s competitive advantage. As the Sr. Risk Manager, Loss Mitigation, you will report directly to the Director of Risk. In this multifaceted role, you will contribute to various aspects of risk management. Some key responsibilities include:

  • Be the changemaker for risk management strategy and technology improvements to optimize loss mitigation.
  • Minimize the LGD (Loss Given Default) of Driven’s lending portfolio by designing and implementing loss mitigation strategies that are cost-effective and drive results.
  • Own the operating policy and manual for loss mitigation from end-to-end, including identifying opportunities, drafting proposed changes, obtaining stakeholder approval, and implementation.
  • Manage relationships with customer-facing teams (both internal and external) which includes day-to-day liaison, performance accountability, reporting, calibrations and escalations.
  • Lead by example by demonstrating skills in debt management, conflict resolution, negotiation, skip tracing and other recovery tactics.
  • Conduct post-mortem analyses on charged-off accounts and maintain a feedback loop with key partners within Risk Management and the rest of the organization.
  • Design and track loss mitigation KPIs, including reporting to senior leadership, and implement remedial strategies as required.

Qualifications:

  • The candidate has to be bilingual in French and English.
  • 5+ years of experience in risk and loss mitigation within financial services, with a proven track record of managing operations, owning policies, and implementing effective strategies.
  • Experience with all components of the delinquent customer lifecycle, from arrears curing to bad debt, including managing insolvencies and litigation.
  • Experience in people management and a demonstrated ability to develop talent and lead high-performing teams.
  • Knowledge of regulatory requirements and compliance in the financial services industry.
  • Strong capability to think strategically, analyze data, derive insights, and make data-driven recommendations that align with business objectives.
  • Proficient in Microsoft Excel.
  • Ability to maintain a customer-centric approach while simultaneously minimizing losses.
  • Excellent verbal and written communication skills, with the ability to translate granularities to a big-picture story for reporting to senior leadership.
  • We believe in innovation and a vibrant culture- work for an innovative, people-first, financial services firm that values entrepreneurialism.
  • We believe in a flexible work structure– A flexible hybrid work model that empowers you to do your best work whether at home or the office.
  • We care about your rewards- Competitive compensation including equity program.
  • We care about your health– comprehensive group health and dental benefits and life insurance at little to no cost to you, We also offer a Lifestyle Spending Account for all your wellness needs.
  • We care about your quality of life- flexible paid time-off policy with unlimited vacation days, and flexible sick and mental health days.
  • We care about your family- Paid parental leave for eligible employees with a top-up.
  • We care about your future–Generous Group RRSP matching and an optional TFSA program.
  • We care about your development– We offer training opportunities and tuition support year-round.

Purpose Unlimited is an equal employer and we are dedicated to fostering an inclusive and barrier-free work environment for all employees and candidates. We encourage all qualified candidates to apply and if accommodation is required during any stage of the recruitment process, please contact any member of the People and Culture team atPeopleCultureTeam@purpose-unlimited.com

We thank all applicants for their interest; however, only those selected for interviews will be contacted.

Our work philosophy is a hybrid model allowing for flexibility and collaboration.

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