Senior Manager Asset Management and Collections

Meridian Credit Union - Toronto, ON (30+ days ago)

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Sr. Manager- Asset Management & Collections

Who is Meridian OneCap?

Meridian OneCap Credit Corp is one of Canada’s leading providers of commercial equipment finance and leasing solutions for equipment dealers and end users. OneCap has a team of professionals with decades of industry experience and a reputation of exceeding customer expectations. We work with equipment dealers to understand the unique financing requirements of their customers and build solutions that increase market share and profits.

OneCap is owned by Meridian Credit Union – one of the largest credit unions in Canada. We share the Meridian Credit Union passion for creating a different employment experience for our existing and new employees. Are you looking for an employer who shares your passion and enthusiasm? Do you want a job where you know you’re making a difference, every day you come to work? Do you want a challenging career with an organization that gives back to the community and whose employees embrace corporate social responsibility? Consider Meridian as a way you can grow your career with us. We are committed to creating a highly engaged workforce; we believe it’s critical to our success.

About this Amazing Opportunity:
The incumbent is responsible for leading the Collections and Asset Management teams. The role will require the oversight of employees located in three Regional Centers.

The leader will be responsible for three distinct areas:
Asset Management: Supporting Credit and Sales in identifying appropriate lending values for specific assets classes. In addition, reviewing prospective future values of certain assets streams for the purposes of establishing un-guaranteed residuals.

End of Term: Oversee the process of end of term asset disposal covering over-term leases and assets being returned under our unguaranteed programs.

Collection Management: Collection team oversight targeted at minimizing delinquency and maximizing recovery rates on assets returned through the collection process. Provide clear direction to the group in resolving higher balance, more complicated collection situations.

What you’ll get to do:
Collections

Provide oversight and leadership to the collections team.

Establish management metrics and monitor the group with respect of those metrics.

Review and report on monthly progress within the group.

Review existing liquidation processes and make recommendations.

Review and provide recommendations regarding non-accrual accounts along with recommended reserve levels.

Review and approve charge-offs.

Direct post charge-off recovery strategy.

Asset Management

Provide support to Credit and Originations as to appropriate lending values for specific assets or assets classes.
Assist in the development of Asset specific residual grids to support the groups’ unguaranteed residual program.
Establish appropriate residual levels on specific one-off requests.
Track performance results regarding all targeted unguaranteed residuals.

End of Term

Oversee the company’s end of term disposal process.

Maintain and improve existing processes with the view to maximize ultimate recoveries.

Track performance within this process.

Administration

Responsible for performance planning of all direct reports.

Responsible for goal setting.

Responsible for hiring and training.

Responsible for developing a succession plan for the group.

Maintaining all existing policies and ensuring they are up to date.

Support Compliance with Regulatory and Internal Meridian/OneCap Guidelines by:

Adhering to and ensuring team members' compliance with Know Your Customer requirements.
Adhering to all applicable Privacy laws and protecting customer information.
Reporting immediately any unusual occurrences or fraudulent activity and escalating issues/deficiencies/trends to the Compliance Officer and/or applicable supervisor/manager as appropriate.

Knowledge, Skills, and Abilities:
College diploma or university degree in Business Administration or over 10 years financial services industry experience.

Minimum 7 years of experience in the Asset Management and/or Collections field.

Knowledgeable in the management of account receivables and best practices related to collections.

Knowledge of legal, regulatory and governmental requirements (bankruptcy law, PIPEDA).

Relies on experience and judgment to plan and accomplish goals.

Knowledge of leasing industry from a basic contracts and servicing perspective; preference for familiarity with the concept of direct as well as indirect and brokered financing.

Strong leadership ability with the commitment to inspire a work force to exceed goals and expectations.

This role services customers on a national basis and, therefore, the incumbent would preferably be fully bilingual in English and French.

Natural aptitude for leadership, effective communication skills, and a proven ability to engage in critical thinking.

Flexibility to travel to other offices as required.

The Successful Candidate will also have the following:
Effective service management/leadership skills are essential, along with the ability to influence and motivate others. The incumbent must set a positive example of change and encourage others to do the same.

The incumbent requires a thorough knowledge of Asset management protocols, Asset liquidation avenues and maintains a strong understanding of Collection Management within a lease or similar asset based finance environment.

A high degree of flexibility is required to adapt to a wide variety of tasks and functions. Strong PC skills are necessary as the incumbent uses a PC for a variety of service, service management and general management activities.

In particular, the following functional competencies are the minimum expected requirements:

Thorough knowledge of collection management activities and techniques;

Understanding of bankruptcy legislation and various statutes governing collection and security enforcement;

Understanding of asset management and disposal processes;

Understanding and knowledge of standard collection processes;

A working knowledge of Lease/Loan production systems is preferred.

What's in it for you?

We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!

We provide you with the tools and technology needed to delight your candidates and clients!

You'll get to work with and learn from diverse industry leaders, who have hailed from top organizations around the world

Dress for your day! Be comfortable when you can!

Just steps away from Sheppard Subway Station!

This isn't your typical "corporate" job. We work hard and we have fun!

Meridian is committed to providing accommodations for people with disabilities. Should you require an accommodation, we will partner with you to meet your needs.