Bilingual Legal Mortgage Collections Specialist (Foreclosure)

BMO•VIRTUAL61 - REMOTE/TELETRAVAIL - QC - BMO, ON

3d•CA$45,500 - CA$84,500•Remote

About The Position

The Collections Foreclosure Specialist is responsible for managing delinquent mortgage and loan accounts, ensuring that foreclosure proceedings are initiated and tracked in a timely and compliant manner. This role involves coordinating with legal teams, real estate agents, and internal departments to facilitate the foreclosure process efficiently. The specialist prepares and reviews foreclosure documentation with precision, ensuring all actions align with federal and provincial laws. Maintaining accurate records and providing regular updates to management are essential to support decision-making and uphold regulatory standards.

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.
Microsoft Excel - In depth
Bilingual (English, French) - Good.
You’re fluent in French and English as this role provides support to clients and team members inside and/or outside the province of Quebec.

Responsibilities

Monitors and manages overdue mortgage or loan accounts to minimize risk and loss
Ensures timely and accurate processing of foreclosure actions in accordance with investor, insurer, and regulatory requirements.
Prepares, reviews, and maintains foreclosure documentation with accuracy and attention to detail.
Coordinates with legal teams, real estate agents, and internal departments to facilitate the foreclosure process.
Proficient in Excel, and prepares reports, ensuring data accuracy and clarity
Develops credibility and earns their trust as relationship manager.
Addresses the more complex escalated customer requests and transactions.
Executes established loss mitigation processes/procedures for the resolution of non-performing and high-risk accounts.
Handles calls with law firms in an informed, professional, and efficient manner.
Probes to understand customer needs and provides advice related to payments and overall collections strategies in the best interests of the customer.
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; provides 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.
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.
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.