Senior Special Loans Officer

3 days ago

Edmonton, Alberta, Canada Disability Solutions Full time
Role Overview

We are seeking a highly skilled Senior Special Loans Officer to support the Manager, Special Loans in the administration of foreclosure and property management for delinquent accounts. The ideal candidate will have a strong background in risk management, with experience in coordinating the management of activities relating to risk factors in compliance with CWB and regulatory requirements.

Key Responsibilities

• Complete required payments accurately and timely for condo arrears, delinquent taxes, and property insurance. Manage other expense payments to protect the bank's security interest.
• Management and administration of high-risk and/or watch accounts on CREWS as applicable, as well as completion of all related internal reporting.
• Complete necessary upgrades/downgrades on all related systems as well as completion of all related internal reporting.
• Complete required external reporting on bankruptcy and consumer proposals.
• Complete documentation required to refer delinquent accounts to the appropriate solicitor.
• Process payments/payouts on mortgages that are in default.
• Prepare and review various month-end reports and exception reports to ensure they are completed in accordance with established procedures and timelines.
• Actively manage the expenditure process so that all appropriate fees can be recovered through the foreclosure process.
• Participate in managing the legal process for foreclosure files, interacting with attorneys and third parties with the Manager, Special Loans.
• Produce management reports and other reporting as required.
• Complete initial impaired loan reports and submit to the appropriate department.
• Contact borrowers to negotiate solutions for bringing tax arrears, HOA, and condo arrears up-to-date to ensure the bank's security is not in jeopardy.
• Work cohesively with other departments in relation to high-risk/watch accounts.
• Identify and implement operational improvement opportunities to increase the efficiency of the default management function.
• Stay current with relevant regulatory requirements and industry-leading practices and default management trends. Apply the knowledge, where applicable, while carrying out collection practices or other relevant responsibilities.

Requirements

• Diploma/Certificate in legal administration.
• Experience in credit or mortgage administration would be an asset.
• Minimum 3+ years of experience in real estate foreclosure. Equivalent relevant professional experience in the mortgage lending or legal industry will be considered. Previous experience in loss mitigation would be an asset.
• Familiarity with the foreclosure process.

Personal Proficiencies

• Proven ability to manage multiple work streams simultaneously, manage priorities, and meet deadlines in a fast-paced environment while maintaining accuracy.
• Strong communication skills, both written and verbal.
• Strong problem-solving ability and analytical skills with the ability to effectively process a large volume of information.
• Candidates must be comfortable learning new systems and working in multiple systems.
• Excellent interpersonal skills and relationship-building skills.
• Willingness and proven ability to keep abreast of current industry, regulatory, and policy developments that impact Optimum Mortgage's default management process.
• Ability to work with minimal direct supervision and demonstrate appropriate initiative when making decisions.
• Proficient in Microsoft Office applications.

Why Work with Us?

We are committed to providing a safe and inclusive environment where a diverse workforce thrives. You are welcomed and encouraged to bring your whole self to work. Dignity, respect, and equality are non-negotiables. If you require accommodation during any part of the recruitment or selection process, please reach out.

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