2465 Argentia Road
Job Family Group:
Customer Shared Services
This position requires knowledge of mortgage and/or mortgage insurance products.
The Collector Fraud Analyst - Collaborates in the review and evaluation process of abandoned or written-off accounts for possible collections opportunities. Monitor, detect and investigate potentially fraudulent activity on Personal Lending products and take steps to maximize recoveries and minimize losses while maintaining a high efficiency and professionalism.
- Obtain and review lending documentation on files to verify customer information
- 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.
- Obtain property searches to determine status of Title
- Provide counseling and guidance to delinquent customers when appropriate
- Document all collection activity and customer conversations on the Bank's Collection Systems
- Proceed with litigation and claim procedures on fraudulent personal lending files and mortgage products
- Correspond with Solicitors and Property Managers
- Follow Mortgage Insurer and Title insurance guidelines to maximize recovery
- Identify and mitigate risk to the bank by negotiating repayment/compromise
- Liaise with internal Bank departments/branches around fraud process; Credit Operations, Mortgage Service Centre/CMO and Corporate Security
- Directly manage the largest fraud accounts and exposures in Collections Group across Canada within discretionary limits
- Provide direction and support internally to the Manager and Senior Managers on fraud issues for all Collection centres nationally
- Gather and report statistical data of ongoing fraud investigations to the line of business and other internal business partners
- Prepare and submit regular forecast for loss experience due to fraud
- 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.
- Completes complex & diverse tasks within given rules/limits and may include handling escalations from other employees.
- Authorize and ensure legal actions, write offs and compromise settlements are within Bank policy and assigned discretionary limits
- Actively manage the largest fraud exposures within the collections centre to ensure adequate recovery
- Support areas may include, but are not limited to, coaching and training, quality audits, vendor management and credit collection disputes.
- Post secondary education in Business Administration/Commerce, 3-5 years Collections experience or Retail/Commercial lending experience
We're here to help
- Knowledge of federal, state/provincial and local laws pertaining to Consumer Collections and functional area - asset
- Knowledge of litigation procedures and consumer legislation - asset
- Experience in credit files analysis
- Excellent interpersonal, communication skills and telephone skills
- Excellent analytical and problem solving skills
- Demonstrated leadership skills
- Ability to work independently and within a team
- Intermediate knowledge of MS Word, and Excel
- Bilingual English and French - asset
- Broad product knowledge of line of business and processes
- BMO system knowledge DRN, CACS, NCCS, Pathway Connect/MECH, MDIF & CCAPS
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.
As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one - for yourself and our customers. We'll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we'll help you gain valuable experience, and broaden your skillset.
To find out more visit us at https://jobs.bmo.com/ca/en .
BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other's differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.
Customer Service and Support