Bilingual Compliance Officer

2 weeks ago


Toronto, Canada Vault Credit Corporation Full time

**Title**: Bilingual Collections and Asset Recovery Specialist

**Status**: Full-Time Employee

**Reports to**: Collections and Asset Recovery Manager

**Purpose**: Assist our Asset Recovery Team with assigned accounts placed for repossession, by seeking and recovering company assets using effective tools available. In addition, this role requires collection of payments on past due accounts, including late charges, payment penalties, interim rent, restructurings, payment plans and settlements through verbal and written contact with lessee. Under general supervision and in compliance with established policies and procedures, resolve the bad debt through various negotiation techniques, skip tracing efforts, and a thorough analytical review of the lessee’s financial information.

**Essential Job Duties and Responsibilities:
- Responsible for accounts received for repossession.
- Responsible for repossession on accounts with communication with customers that want to pay to avoid repossession.
- Locate lessee through various skip tracing techniques if no contact with lessee.
- Confirm the asset location and best time for recovery/return.
- Research and determine the recovery fees (including but not limited to bailiff, transport, towing, storage, and sale commission)
- Research the fair market/current value of the asset to determine the best course of action (returning the asset to vendor, auction, remarketers) for best recovery (sale proceeds).
- Assign the closest bailiff to the lessee’s location to repossess the asset.
- Calculate deficiency balance once the asset has been sold and sale proceeds have been received and send deficiency letters in a timely manner.
- Overcome lessee’s stalls and objections and suggest money sources for debt payment.
- Negotiate pay off balances, settlements, or payment arrangements on past due and charged off accounts.
- Analyze lessee’s financial information by reviewing credit bureau (Equifax) reporting if no response to the deficiency letter and prepare the file for possible legal action/collection agency.
- Monitor payment arrangements placed by the Litigations Manager
- Maintain and update accurate account records, including accurate notes in Aspire for every account activity or conversation held.
- Prepare notes before collections team weekly meeting and review accounts, progress, and recommendations.
- Assist the collections department with accounts that are not yet in repossession.
- Assist the insurance department by contacting customers/insurance brokers to obtain insurance renewals and contact customers upon receipt of an insurance cancellation for client to avoid repossession.
- Identify accounts which need to become non-accrual or charged-off early.
- Answer and respond to all incoming calls on assigned queues.
- Maintain daily and monthly performance standards set by management.
- Other duties and special projects as assigned.

**Supervisory Responsibilities**:None

**Knowledge, Skills and Experience required (unless otherwise noted)**:

- High School diploma or GED required, plus a minimum of four (4) years collections experience in a commercial/consumer industry, preferably with past due accounts of over thirty (30+) days.
- Excellent organizational and time-management skills. Must be detail oriented.
- Ability to research and understand the different types of equipment in the market to stay informed when working with the repossession companies.
- Strong interpersonal/internal customer service skills.
- Ability to make judgment calls in a quick & timely fashion.
- Ability to calculate figures and amounts such as interest and percentages.
- Ability to work well under the pressure of meeting tight deadlines in a timely manner.
- Ability to prioritize, handle multiple tasks efficiently with little direct guidance, rapidly adapt to changing environment and possess strong work ethics.
- Strong persuasion, negotiation, problem solving and conflict resolution skills.
- Ability to establish and maintain effective working relationships within the Account Receivable department, across the organization and with outside agencies.
- Ability to work effectively in a diverse workforce.
- Team player who can work independently.
- Ability to communicate information efficiently and succinctly both verbally and in written form.
- **Must be Bilingual in French**.


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