Account Resolution Specialist, Collections

Bank of Montreal•Cedar Rapids, IA

About The Position

Collaborates in the review and evaluation of delinquent, high-risk, or written-off commercial accounts to identify collection opportunities. Understands customer needs and provides collections-related sales and service, advising transportation customers on payment strategies and products that meet their objectives. Delivers responsive, knowledgeable service, builds customer trust, manages complex escalations, and processes customer transactions and requests in accordance with approved procedures. Executes loss-mitigation processes for non-performing and high-risk accounts, developing action plans and solutions that maximize recovery and safeguard the Bank’s interests. Reviews account information and analyzes the probability of collection, provides recommendations, and supports the collections life cycle, including loan modification and liquidation options. May support coaching and training, quality audits, vendor management, credit collection disputes, reporting, and business/group process improvements. Works with customers, internal business groups, operations partners, and other stakeholders to resolve account matters and support strategic initiatives. Maintains knowledge of collections practices, products, industry trends, and applicable regulations; protects customer and Bank information; and applies the Bank’s Risk Management Framework when making decisions. Works mostly independently, with broader duties potentially assigned as needed.

Requirements

Typically 3–5 years of relevant experience.
Post-secondary degree in a related field of study, or an equivalent combination of education and experience.
Knowledge of credit qualifications and associated credit knowledge and skills according to established qualification standards.
Good knowledge of federal, state/provincial, and local laws pertaining to Consumer Collections and the functional area.
Good knowledge of BMO products and services.
Knowledge of the competitive marketplace and trends in product offerings.
Specialized knowledge gained through education and/or business experience.
In-depth verbal and written communication skills.
In-depth collaboration and teamwork skills.
In-depth analytical and problem-solving skills.
In-depth influence skills.
Strong negotiation and interpersonal skills.
Ability to exercise judgment, identify and diagnose problems, and solve them within established rules.
Ability to work mostly independently.

Responsibilities

Review and evaluate delinquent, high-risk, or written-off commercial accounts for potential collection opportunities.
Understand customer needs and provide collections-related sales, service, and advice on payment strategies and products.
Handle incoming calls professionally and efficiently, addressing complex escalated customer requests and transactions.
Contact customers to obtain information needed to manage applications and keep them informed about payment status and outcomes.
Build customer rapport, credibility, and long-term profitable relationships while expanding share of wallet.
Execute established loss-mitigation processes and solutions for non-performing and high-risk accounts to maximize recovery and minimize losses.
Develop action plans and solutions that safeguard the Bank’s interests.
Review accounts and analyze data to assess collection probability; provide insights and recommendations.
Complete customer transactions and documentation accurately, or refer matters to the appropriate internal business group.
Escalate complex or unresolved customer situations to managers as required.
Coordinate client communications and transaction processes with operations partners and other stakeholders.
Provide advice and guidance to assigned business or group on implementing solutions and support strategic initiatives.
Serve as a support contact, resource, or coach for Consumer Collections personnel; support coaching, training, quality audits, vendor management, and credit collection disputes as applicable.
Gather and format information into regular and ad-hoc reports and dashboards; integrate information from multiple sources to streamline analysis and reporting.
Develop and execute short-term tactics and plans to drive specific behaviors, activities, and results.
Participate in the design, implementation, and management of core business or group processes and support the development and promotion of programs.
Identify business needs and develop tools and training programs; training delivery may be included.
Collaborate in the efficient functioning of the collections life cycle and participate in implementing loss-mitigation solutions, including loan modification and liquidation options.
Follow documented policies and procedures, maintain confidentiality, and comply with applicable guidelines, requirements, laws, regulations, and risk-management policies.
Maintain knowledge of collections strategies, practices, products, industry trends, best practices, and the regulatory environment.
Identify customer needs and make referrals to other business groups as appropriate.
Support continuous improvement by identifying and implementing more effective and efficient processes.
Take measured risks and make sound, risk-informed decisions aligned with business strategy and the Bank’s approved risk appetite.