Asset Recovery Specialist

6 months ago

Toronto, Canada Vault Credit Corporation Full time

**Who we are**:
Vault is a non-bank owned private lending company offering a wide array of financial services such as mortgages, business loans, equipment leasing as well as many other lending products. Vault has a devoted team of experts with years of experience in both financial services and real estate. We deliver products and services that meet our borrowers' diverse needs quicker and easier than any traditional sources

**Purpose**: Working with our Asset Recovery Team and responsible for all 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, restructures, 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.

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

**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.
- Send notifications to customers regarding (Notice of Sale) the sale of 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.
- Thorough knowledge and understanding of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Interpretation of consumer credit reports including Equifax
- Excellent organizational and time-management skills. Must be detail oriented.
- Sharp ability to learn quickly.
- 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 assess if equipment is cost effective to pursue.
- Ability to research the asset fair market value and cost of recovery.
- Effectively control costs of recovery (transport, bailiff costs etc.)
- Ability to make judgment calls in a quick & timely fashion.
- Strong creative thinking
- 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 withi

  • Asset Recovery Specialist

    2 months ago

    Toronto, Canada Vault Credit Corporation Full time

    **Who we are**: Vault is a non-bank owned private lending company offering a wide array of financial services such as mortgages, business loans, equipment leasing as well as many other lending products. Vault has a devoted team of experts with years of experience in both financial services and real estate. We deliver products and services that meet our...

  • Asset Recovery Specialist

    6 months ago

    Toronto, Canada Vault Credit Corporation Full time

    **Purpose**: Working with our Asset Recovery Team and responsible for all 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, restructures, payment plans and...

  • Senior Credit Recovery Specialist

    4 weeks ago

    Toronto, Ontario, Canada Total Credit Recovery Full time

    About Total Credit RecoveryWe are a progressive company in the financial sector, with a strong presence in Canada. We are committed to excellence in collections and customer service.Job SummaryWe are seeking a Senior Credit Recovery Specialist to join our team. The successful candidate will be responsible for contacting consumers to arrange repayment of past...

  • Senior Account Recovery Specialist

    2 weeks ago

    Toronto, Ontario, Canada Total Credit Recovery Full time

    About UsTotal Credit Recovery is a forward-thinking company in the financial sector, with over 550 employees spread across four offices in Canada. We are seeking highly motivated and professional individuals to fill the role of Senior Account Recovery Specialist.Job OverviewThe successful candidate will be responsible for making contact with consumers via...

  • Bilingual Asset Recovery Specialist

    6 months ago

    Toronto, Canada Vault Credit Corporation Full time

    **Who we are**: Vault is a non-bank owned private lending company offering a wide array of financial services such as mortgages, business loans, equipment leasing as well as many other lending products. Vault has a devoted team of experts with years of experience in both financial services and real estate. We deliver products and services that meet our...

  • Business Recovery Specialist

    2 weeks ago

    Toronto, Ontario, Canada MNP Full time

    About Our TeamMNP is a leading national accounting, tax and business advisory firm in Canada. We are proud to be entrepreneurial to our core, with a talented team of professionals who transform mid-market business practices.Our MissionWe help lenders and debtors navigate challenging financial situations through our Recovery & Restructuring team. As trusted...

  • Asset Recovery Specialist

    2 weeks ago

    Greater Toronto Area, Canada AutoTrader Full time

    Job Summary:The Asset Recovery Specialist plays a pivotal role in ensuring seamless transport operations, supporting Account Representatives with inquiries and providing exceptional service level agreements. This individual is responsible for coordinating the transport of seized assets to sales facilities, managing suppliers, and organizing transports for...

  • Financial Recovery Specialist

    2 weeks ago

    Toronto, Ontario, Canada MNP Full time

    Company OverviewMNP is a leading national accounting, tax and business advisory firm in Canada, providing business strategies and solutions to entrepreneurs and businesses.Job SummaryWe are seeking an experienced Financial Recovery Specialist to join our Recovery & Restructuring team. As a trusted advisor, you will assist lenders and debtors with managing...

  • Asset Recovery Specialist

    3 weeks ago

    Greater Toronto Area, Canada AutoTrader Full time

    Job Summary: We are seeking an experienced Recovery Agent to join our team at AutoTrader. The successful candidate will be responsible for providing support to Account Representatives, responding to inquiries, and ensuring the efficient execution of the transport process.Key Responsibilities:Transport Process Support• Coordinate the transport of seized...

  • Credit Recovery Team Lead

    2 weeks ago

    Toronto, Ontario, Canada Total Credit Recovery Full time

    About Total Credit Recovery:We are a dynamic financial services organization with over 550 employees across Canada, seeking results-driven professionals to excel as Collections Managers.Position OverviewThis role involves leading the Bell Department's daily operations, overseeing collection officers and supervisors. Key responsibilities include:Establishing...

  • Claims Recovery Specialist

    2 weeks ago

    Toronto, Ontario, Canada Liberty Mutual Canada Full time

    About UsLiberty Mutual Canada is the Canadian operation of Liberty Mutual Insurance Company, offering a broad range of commercial insurance products and solutions to mid-size and large Canadian companies with Canadian, North American and/or multinational risks.We have over 250 employees servicing our clients coast-to-coast from regional offices in Vancouver,...

  • Asset Recovery Coordinator, AutoTrader

    2 weeks ago

    Greater Toronto Area, Canada AutoTrader Full time

    About This Role:AutoTrader is seeking a highly skilled and organized Asset Recovery Coordinator to join our team. As an Asset Recovery Coordinator, you will play a critical role in ensuring the efficient transportation of seized assets from various locations across Canada and the USA to our sales facilities.Salary: We offer a competitive salary range of...

  • Technical Analyst, Disaster Recovery Specialist

    2 weeks ago

    Toronto, Ontario, Canada Manulife Full time

    OverviewManulife Financial Corporation is a leading international financial services group that helps people make informed decisions and improve their lives.Job SummaryWe are seeking a highly skilled Technical Analyst to join our Global Technology Services Management and Support Team as a Disaster Recovery Management specialist. This role requires a deep...

  • Credit Recovery Specialist

    5 months ago

    Toronto, Canada Tangerine Full time

    **Requisition ID**: 192854 Tangerine is Canada’s leading direct bank. We offer flexible and accessible banking options, innovative products, and award-winning Client service. The reason why Tangerine employees come to work each day is to help Canadians live better lives. We focus on making a difference in our communities, and that includes our own...

  • Debt Recovery Specialist

    2 weeks ago

    Toronto, Ontario, Canada Kronis, Rotsztain, Margles, Cappel LLP Full time

    Kronis, Rotsztain, Margles, Cappel LLP is seeking a highly skilled Debt Recovery Specialist to join our team.About the RoleWe are looking for an individual who is experienced in contacting consumers to negotiate payment of outstanding accounts. The successful candidate will have excellent communication skills and be able to work under...

  • Valuations Asset Specialist

    4 weeks ago

    Toronto, Ontario, Canada Centurion Asset Management Inc Full time

    Role OverviewWe are seeking a highly skilled Valuations Asset Specialist to join our team at Centurion Asset Management Inc. As a key member of our valuation team, you will be responsible for assisting in the valuation of assets and developing, implementing, monitoring, and maintaining key performance metrics and analytical models.Key ResponsibilitiesDevelop...

  • Sudbury Tissue Recovery Specialist

    2 weeks ago

    Toronto, Ontario, Canada Ontario Health Full time

    Job SummaryWe are seeking a highly skilled and dedicated Tissue Recovery Coordinator to join our team at Ontario Health. This casual contract position offers the opportunity to develop expertise in the surgical recovery phase of the tissue donation process.About the RoleThis role is based out of the Sudbury region and involves significant travel around the...

  • Bilingual Recovery Specialist

    2 months ago

    Toronto, Canada HomeEquity Bank Full time

    WHO WE ARE HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse...

  • Senior Manager of Credit Recovery

    2 weeks ago

    Toronto, Ontario, Canada Scotiabank Full time

    OverviewWe are seeking a Senior Manager of Credit Recovery to join our team at Scotiabank. As a key member of our organization, you will be responsible for leading the credit recovery process and ensuring that we maximize our recoveries while maintaining excellent customer service.About the RoleThe Senior Manager of Credit Recovery is responsible for...

  • Bilingual Mortgage Recovery Specialist

    2 weeks ago

    Toronto, Canada Tangerine Full time

    **Requisition ID**: 210264 Tangerine is Canada’s leading direct bank. We offer flexible and accessible banking options, innovative products, and award-winning Client service. The reason why Tangerine employees come to work each day is to help Canadians live better lives. We focus on making a difference in our communities, and that includes our own...