Manager, Collections

2 months ago

Toronto, Canada Fairstone Full time

Reporting to the Senior Manager, Customer Accounts, the Collections Manager will lead a specialized team of collection agents responsible for providing top quality service to our customers regarding the repayment of their financed auto loans.

Responsible for maintaining programs, policies and team productivity to achieve desired KPIs.

Additional support areas include but are not limited to, coaching and training, and quality audits.

Creating initiatives/programs to support business target objectives. Analyzing service level agreements and standards, market trends, improve customer experience; improving group performance; directing team as needed to accomplish goals; managing implementation efforts; resolving complex problems or inquiries; ensuring overall compliance with government regulations and company processes and policies.

This role requires extensive and consistent weekly/monthly training and development of the Collections team along with managing and auditing their day-to-day performance.

Key Responsibilities

Objective is to minimize losses and/or maximize returns on investment through prompt and appropriate loss mitigation processes.
- Leads by example in delivering exceptional, positive customer experience that builds trust through expertise, responsive service and support.
- Ensures that all KPI’s for the department are met and prepare & deliver action plans whenever underperforming
- Ensures best practices are being met with a focus on reducing delinquency and improving customer experience
- Design and implement strategies to motivate the Collections Team to achieve departmental goals
- Develops and maintains long-term relationships with other internal teams working in customer accounts, recoveries, and loan originations.
- Handles escalation calls with an informed, professional, and efficient approach
- Addresses escalated customer requests and transactions
- Executes on required loss mitigation processes/procedures for the resolution of non-performing and high-risk accounts.
- Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
- Develops employee action plans and solutions in the effort to maximize recoveries
- Coach with proficient tools to assist department in achieving goals
- Reviews and audit employee assigned accounts and work flow of collection to provide insights and recommendations.
- Gathers and formats data and ad-hoc reports in managing employee performance scorecards
- Follows departmental policies and procedures
- Keeps abreast of needs of the Collections departments. Identifies and makes referrals to other business groups as needed.
- Maintains current knowledge of collections strategies, practices, and trends and integrates into customer conversations in a professional manner.
- Supports continuous improvement initiatives by identifying and implementing changes to make processes more effective and efficient.
- Develops and maintains awareness of industry trends and best practices and the regulatory environment as it relates to collections products and services
- Facilitate repossessions, sales, and redemptions according to company and legislative guidelines, while providing administrative and reporting support to management
- Must be detail oriented and be able to understand and prepare complex documentation and update different host systems while maintaining customer records

Job Qualifications
- Excellent verbal and written communication skills.
- Minimum 5 years collection experience, near prime and sub-prime automotive segment
- Preferred knowledge of the automotive finance life cycle and interest in the industry
- Proficiency with Microsoft Office (Excel, Word, and Outlook)
- Able to understand/prepare complex documentation, update different host systems, and maintain customer records
- Ensure all assigned tasks are completed accurately and on time in a fast-paced environment
- First-rate telephone skills, confidence in problem solving, negotiating and decision making
- Scheduled shifts for days, evenings, and rotating Saturdays when required to meet targets
- Proven ability to multitask, prioritize workload and meet deadlines.
- Ability to work collaboratively with a team of specialized managers working to achieve overall company objectives.

WE ARE PROUD TO BE: Montreal's Top Employers 2024 by Canada’s Top 100 Employers

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Time Type:
Full time

Job Type:
Permanent

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