Customer Service and Collection Specialist

2 weeks ago

Toronto, Ontario, Canada Scotiabank Full time

Job Overview


We are seeking a highly skilled Customer Service and Collection Specialist to join our team at Scotiabank. As a key member of our collection department, you will be responsible for maximizing the collection of overdue payments from customers while minimizing collection costs and loan losses.



About the Role


The successful candidate will conduct timely and effective collection follow-up on assigned loans in varying stages of arrears, identify potential risks to the Bank, and take prompt action to minimize loss and secure the Bank's position. You will work closely with customers to understand their financial situations and provide solutions through sound knowledge of collection practices, policies, and procedures.



Responsibilities



  • Customer Service
  • Provide human, straightforward, and knowledgeable service to create a relationship of mutual trust and confidence with customers and fellow employees;
  • Understand customer circumstances and match appropriate solutions using sound knowledge of collection practices, policies, and procedures;
  • Address and resolve customer concerns, inquiries, issues, or complaints on loan contracts in arrears;
  • Prepare correspondence, including demand letters, that reflects Bank policies and guidelines while conveying a tone that protects integrity.


Business Plan Execution



  • Evaluate client current financial situation and apply solid credit knowledge combined with creativity and ingenuity in managing problem accounts while obtaining customer cooperation and protecting the Bank's interests;
  • Primary emphasis on rehabilitating accounts and retaining sound, profitable business for the Bank by acting in a timely manner to identify risk associated with all assigned accounts and executing prompt action to minimize loss and secure the Bank's position;
  • Negotiate alternate payment arrangements, including token or reduced payment amounts from customers and accurately communicating revised terms and conditions of the loan;
  • Evaluate ability to make negotiated payments and assessing source of funds for payment;
  • Recommending or taking action to ensure past customer commitments have been met, including resolving persistent payment problems;
  • Makes sound decisions on accepting, rejecting, or offering amended payment terms and settlements while conforming to Bank policies and procedures.


Operational Efficiencies and Compliance



  • Report and escalate any unusual occurrences or fraudulent activities evidenced through customer conversations and/or payment verification directly to the Team Lead, Manager, or Director;
  • Conduct timely and constructive collection activity by telephone, letter, text message, e-mail, or other appropriate means;
  • Effectively and efficiently use automated call distribution and outbound predictive dialer systems;
  • Utilize the collection system to facilitate communication within the department, among team members, or referral of the account to the Team Lead or Manager;
  • Complete updates to all appropriate Bank systems;
  • Maintain the integrity and confidentiality of the Bank and customer information as set out in Scotiabank's Privacy Code;
  • Adhere to regulatory and internal Bank guidelines as required and maintain awareness throughout the year, ensuring compliance to AML (Anti-Money Laundering), KYC (Know Your Customer) and Privacy policies.


Requirements



  • Post-secondary education, with minimum 1 year of experience in the collection of delinquent or overdue accounts in the financial services industry or experience collecting on delinquent accounts is preferred;
  • Strong verbal and written communications skills in English and French;
  • Branch working experience is considered an asset;
  • Ability to deal effectively with Branch and/or customer inquiries, concerns, or complaints and provide prompt and accurate resolution to complete satisfaction of all involved parties;
  • Experience with Microsoft operating systems, including Word, Excel, Outlook, and the Internet;
  • Sound knowledge of the Bank's Retail products, services, and operating/collections systems;
  • An understanding of predictive dialer equipment and payment collection systems is an asset.


Work Environment



  • Standard office-based environment, including hybrid; non-standard hours are a common occurrence;
  • Location: Ontario, Canada;
  • Working hours: Monday - Friday, 7:30am to 10pm, Saturdays 8:00 am - 6:00 pm EST, 37.5 hours per week;
  • Training hours: TBD;
  • Start Date: TBD.

Salary Estimate: $55,000 - $65,000 per annum, depending on location and experience. We thank all applicants for their interest in a career at Scotiabank, however, only those candidates who are selected for an interview will be contacted.

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