Job Purpose & Summary
The Collections Officer is responsible for various functions and duties related to the collection of credit arrears in DUCA’s residential and retail loan portfolios. Reporting to the Senior Manager, Special Assets and working closely with the collections administrators, this position is responsible for monitoring all impaired loans, contacting and negotiating with Members, and instructing legal counsel and advisors as needed in order to bring delinquent accounts back into good standing and/or recover the indebtedness outstanding to DUCA. Focus on Member experience in the collection process is important.
Key Accountabilities & Duties
Review the Returned Items Report daily and effect the proper reversal and processing of returned payments.
Correspond with Members by phone and email in order to attempt to bring accounts back into good-standing.
Issue 15-day payment demands as needed.
Responsible for following up with borrowers on property tax arrears and insurance cancellations.
Work with CUMIS to place or claim insurance as needed.
Negotiate payment arrangements in lieu of commencing legal action.
Communicate with collection agencies, bankruptcy representatives, and various companies to effect proper collections on loan arrears.
Work with outside legal counsel to issue payment demands/full demands and Notices of Sale.
Coordinate outside service providers on DUCA legal files and Power of Sale properties (lawyers, property managers, appraisers, environmental consultants, receivers, etc.).
Coordinate with Genworth/CMHC on insured mortgage files.
Answer Member enquiries, draft letters, emails, and memos, etc.
Help prepare the weekly loan payment/delinquency report.
Review and distribute the residential/retail component of the monthly allowance report.
Other administrative duties including scanning and/or filing and other duties as assigned from time to time.
Occupational Experience & Education Requirements
Some post-secondary education in business or administrative studies. Courses or education in credit, legal studies, and/or finance considered an asset.
3+ years of collections administration experience.
Retail banking or credit experience considered an asset.
Knowledge, Skills & Attributes
Working knowledge and experience handling legal documents and working with legal procedures pertaining to mortgage and loan collections.
Excellent verbal and written communication skills
Strong analytical skills with demonstrated accuracy and attention to detail.
Excellent administrative and time management skills with the ability to prioritize and make quick decisions.
Strong customer service, relationship building, problem solving, investigative, and follow-up skills.
Proficient in Microsoft Office Suite of products, specifically Word, Excel and PowerPoint
Normal Office Environment
Primary Location: Corporate Office
Employment Status: Full-time
Hours per Week: 38
Job Grade Level: Five (5)
DUCA exists to help people do more, be more and achieve more with their money and their lives. We’re driven by a co-operative philosophy that puts our Members (and Owners) at the centre of every decision we make, gives them a voice in how we’re run, and rewards them for their loyalty by sharing our profits.
At DUCA, we’re dedicated to creating a positive environment where our employees have growth and development opportunities, a healthy work/life balance, opportunities to give back to the community, and a focus on doing what is right for our Members. DUCA offers a competitive total compensation package including base salary, a short-term incentive (bonus) program, a comprehensive benefits program, pension plan, and employee banking benefits.
DUCA is committed to employment equity and encourages applications from all qualified candidates. Recruitment related accommodations will be provided upon request.
Qualified applicants are encouraged to submit their application. Applications must include both a resume and cover letter.
We thank all applicants but only those considered for an interview will be contacted.