Account Resolution Specialist

BMO•Cedar Rapids, IA

1d•Onsite

About The Position

Collaborates in the review and evaluation of delinquent, high risk, or written-off accounts for possible collections opportunities. Understands customer needs and provides collections-related sales and service to BMO customers or prospects. Advises customers on payment strategies and products that meet their objectives. Fulfills sales and service activities for the customer in accordance with approved procedures. Support areas may include, but are not limited to, coaching and training, quality audits, vendor management and credit collection disputes. Delivers exceptional customer service that builds trust through expertise, responsive service and support. Sends out client communications, transaction processes, and interfaces with operations partners to ensure customer needs are met. Develops rapport and instils confidence with clients in order to develop credibility and earn their trust as relationship manager. Develops and maintains long-term, profitable relationships and expands share of wallet. Contacts the customer to obtain the necessary information to manage their application (as required) ensuring the customer is aware at all times of the status/result of the present and future payments. Handles incoming calls in an informed, professional, and efficient manner. Addresses the most complex escalated customer requests and transactions. Probes to understand customer needs and provides advice related to payments and overall collections strategies in the best interests of the customer. Integrates marketing promotions and programs into customer conversations as appropriate. Executes established loss mitigation processes/procedures for the resolution of non-performing and high risk accounts. Sends out client communications, transaction processes, and interfaces with operations partners to ensure customer needs are met. Provides advice and guidance to assigned business/group on implementation of solutions. Supports the execution of strategic initiatives in collaboration with internal and external stakeholders. Develops action plans and solutions to maximize recovery and safeguard the Bank’s interests. Establishes expertise with Consumer Collections personnel as a key support contact/resource/coach with proficiency and tools to assist departments in achieving goals. Utilizes strong negotiation skills and interpersonal skills, while adhering to all applicable guidelines, requirements and regulations. Reviews accounts and analyzes data and information to determine the probability of collection; provide insights and recommendations. Gathers and formats data into regular and ad-hoc reports, and dashboards. Develops and executes short term tactics/plans to drive specific behaviours, activities, and results. Manages all transactions related to customer calls or refers to appropriate internal business groups. Escalates complex or unresolved customer situations to managers as required. Completes required documentation to ensure customer’s requests are accurately processed. Integrates information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting. Leads/participates in the design, implementation and management of core business/group processes. Supports the development and promotion of a business/group program. Identifies business needs, designs/develops tools and training programs; may include delivery of training to audiences. Collaborates in efficient functioning of collections life cycle. Includes participating in the execution of established loss mitigation solutions for the successful resolution of non-performing and high risk accounts. Solutions range from various loan modification options to liquidation for borrowers with delinquent and high risk loans in order to offer default / foreclosure alternatives and minimize losses. Delivers exceptional customer service that builds trust through expertise, responsive service and support. Follows documented policies and procedures to execute transactions, activities and processes. Keeps abreast of needs of the Collections departments. Identifies and makes referrals to other business groups as needed. Maintains current knowledge of collections strategies, practices, and trends and integrates into customer conversations in a professional manner. Maintains the confidentiality of customer and Bank information. Supports continuous improvement initiatives by identifying and implementing changes to make processes more effective and efficient. Develops and maintains awareness of industry trends and best practices and the regulatory environment as it relates to collections products and services. Focus may be on a business/group. Thinks creatively and proposes new solutions. Exercises judgment to identify, diagnose, and solve problems within given rules. Works mostly independently. Broader work or accountabilities may be assigned as needed. Take measured risks while protecting the bank by applying our Risk Management Framework in the execution of your role, in line with our Risk Culture and within our approved Risk Appetite, making sound and risk informed decisions that align to business strategy, protect assets, and adhere to applicable policy documents (Frameworks, Policies, Standards, Procedures and Supporting documents), laws and regulations.

Requirements

Typically between 3 - 5 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Knowledge of Credit Qualifications and associated credit knowledge and skills according to the established qualification standards.
Knowledge of federal, state/provincial and local laws pertaining to Consumer Collections and functional area - Good.
Knowledge of BMO products and services - Good.
Knowledge of competitive marketplace and trends in product offerings.
Specialized knowledge from education and/or business experience.
Verbal & written communication skills - In-depth.
Collaboration & team skills - In-depth.
Analytical and problem solving skills - In-depth.
Influence skills - In-depth.

Responsibilities

Review and evaluate delinquent, high risk, or written-off accounts for possible collections opportunities.
Provide collections-related sales and service to BMO customers or prospects.
Advise customers on payment strategies and products that meet their objectives.
Fulfill sales and service activities for the customer in accordance with approved procedures.
Support areas may include coaching and training, quality audits, vendor management and credit collection disputes.
Deliver exceptional customer service that builds trust through expertise, responsive service and support.
Send out client communications, transaction processes, and interface with operations partners to ensure customer needs are met.
Develop rapport and instill confidence with clients to develop credibility and earn their trust as a relationship manager.
Develop and maintain long-term, profitable relationships and expand share of wallet.
Contact customers to obtain necessary information to manage their application, ensuring the customer is aware of the status/result of present and future payments.
Handle incoming calls in an informed, professional, and efficient manner.
Address complex escalated customer requests and transactions.
Probe to understand customer needs and provide advice related to payments and overall collections strategies.
Integrate marketing promotions and programs into customer conversations.
Execute established loss mitigation processes/procedures for the resolution of non-performing and high risk accounts.
Provide advice and guidance to assigned business/group on implementation of solutions.
Support the execution of strategic initiatives in collaboration with internal and external stakeholders.
Develop action plans and solutions to maximize recovery and safeguard the Bank’s interests.
Establish expertise with Consumer Collections personnel as a key support contact/resource/coach.
Utilize strong negotiation and interpersonal skills, adhering to all applicable guidelines, requirements and regulations.
Review accounts and analyze data and information to determine the probability of collection; provide insights and recommendations.
Gather and format data into regular and ad-hoc reports, and dashboards.
Develop and execute short-term tactics/plans to drive specific behaviors, activities, and results.
Manage all transactions related to customer calls or refer to appropriate internal business groups.
Escalate complex or unresolved customer situations to managers as required.
Complete required documentation to ensure customer’s requests are accurately processed.
Integrate information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting.
Lead/participate in the design, implementation and management of core business/group processes.
Support the development and promotion of a business/group program.
Identify business needs, design/develop tools and training programs; may include delivery of training to audiences.
Collaborate in the efficient functioning of the collections life cycle.
Participate in the execution of established loss mitigation solutions for the successful resolution of non-performing and high risk accounts.
Follow documented policies and procedures to execute transactions, activities and processes.
Keep abreast of the needs of the Collections departments.
Identify and make referrals to other business groups as needed.
Maintain current knowledge of collections strategies, practices, and trends and integrate into customer conversations.
Maintain the confidentiality of customer and Bank information.
Support continuous improvement initiatives by identifying and implementing changes to make processes more effective and efficient.
Develop and maintain awareness of industry trends and best practices and the regulatory environment as it relates to collections products and services.
Think creatively and propose new solutions.
Exercise judgment to identify, diagnose, and solve problems within given rules.
Take measured risks while protecting the bank by applying the Risk Management Framework.