Collections Officer

As a member-owned cooperative, we’re helping our members with their real goals and real challenges so they can live the real life they want. It’s what we’ve been doing for over 80 years, and it’s why today we stand almost 600,000 members strong. Plus, we invest 10% of our budgeted profits back into our community - almost $90 million since 2000 alone - because when our members do well, we believe our communities should do well too. **Collections Officer**: **Location**: British Columbia (CA-BC) **Job Type**: Full Time **myWork Options**: In-person, Hybrid, Remote **What’s the job?** The Collections Officer is responsible for effectively controlling delinquency and minimizing potential losses to Coast Capital Savings (CCS). They are to exercise sound judgment in balancing risk the with probability of recovery. The incumbent is responsible for collecting past due arrears payments and assisting with the restructuring of amendments. They are responsible for identifying and reporting possible fraudulent accounts. The incumbent is required to assess and request repossession and handle the organizing of transport, remarketing and sale of the asset. Make recommendations for changes to policy and procedures, assisting **What you’ll get to do**: - Administer bank drafts and wire payments, retail auto and equipment loan insurance claims, payment suspensions or deferrals. - Collect and review delinquency of all retail auto & equipment leasing, 3rd party collections and suspicious activity. - Receive and review bankruptcy documents and other related documents from debtor assistance programs. Prepare and file relative forms. - Make recommendations to the Manager with respect to the appropriateness and effectiveness of existing policies and procedures. Assist with research and development for recommended changes to policy and procedures for CCS. - Must be current on industry trends and current fraud trends in the marketplace in order to mitigate CCS risk when collecting on delinquent and fraud accounts. - On bankruptcy documents received from Trustees, assess documentation and plan next course of action with Collections Manager - Investigate early defaults and suspicious activity identifying fraudulent transactions such as closed accounts & first payment defaults. Work closely with Corporate Security in the investigation, follow up and ultimate recovery of potential fraud losses. - Initiate collection action on retail auto & equipment delinquency over 35 days past due in accordance with established collection policies, procedures and time constraints. - Accurately document all telephone calls using standard abbreviations or memos, as appropriate in the collection system. - Verify and update customer information and maintain customer records in the collection system - Prepare and recommend payment amendments and coordinate the relative reporting. - Issue appropriate notices and coordinate the preparation of documents required for seizure. - Coordinating the recovery of assets. - Accurately document the status of all impaired accounts prior to month end. - Assist in the analysis of assessments of security valuations. - Confirm CCS has valid security priority. - Administer the follow-up on sales proceeds to assure received in a timely manner. - Maintain regular contact and reciprocal relationships on behalf of the Credit Union with various outside agencies (i.e. collection agencies, law firms, bankruptcy trustees, bailiffs, marketers etc.) - Build relationships/rapport with remarketing sources to assist in asset valuations and the selling of repossessed vehicles and equipment in an attempt to reduce our loss. - Performance Objectives (30-day delinquency less than 2%, Portfolio losses less than 0.5% of Net Book Value). - Work closely with Credit Analysts and other staff to restructure deals or find solutions to problem accounts in order to promote the CCS philosophy of "How Can We Help You?" while being mindful of maintaining good risk practices. - Collaboratively cross-share collection knowledge and experience to team members. **Who are we looking for?** - Minimum 4 - 6 Years of Job-Related Experience - High School Diploma plus some additional post-secondary courses. - Proficiency in Word, Excel spreadsheets, and Internet searches - Must have the computer skills required to quickly learn Ritchie Bros., Canadian Black Book, & Machinery Trader - Organization of workflow, attention to detail and timeliness, and telephone etiquette. At Coast Capital, we value diversity, equity and inclusion. We’re not all the same and we like it that way. We don’t just accept differences - we celebrate, support, and we thrive on them for the benefit of our employees, our members, and our community. We are committed to building a team that represents a variety of backgrounds, perspectives, and skills. **Why join Coast Capital?**: **Purpose is our North Star.** We look at everything through our purpose. It informs the advic