Senior Manager Credit & Default Management

Peoples Group - Toronto, ON (30+ days ago)

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About Peoples Group:
Peoples Group is a boutique Financial Institution with offices located in Vancouver, Calgary, Toronto and Montreal that has been in the Canadian marketplace for over 30 years.

Our focus is on exceeding our customer’s expectations by providing exceptional customer service backed by extensive product knowledge and experience. We believe that people come first, everyone has strengths, and work should be inspiring, challenging, and fun.

When we opened our doors in 1985, our specialty was the origination of Residential and Multi-family mortgage products and the provision of short and long term guaranteed investment products. Since then, we have significantly grown our team and product line to provide innovative solutions for our clients, backed by years of industry expertise and rates which are consistently among the best in Canada.

The Peoples Group Brands:
Peoples Trust® – As a federally chartered financial institution, we specialize in Credit and Business Development, Conventional, CMHC and Single-Family Lending Services, Mortgage-Backed Securities, Banking, Servicing and Administration, Social Housing, Deposit Services for short and long term GIC’s, RRSP’s, TFSA’s and high rate e-Savings accounts with online banking convenience.
Peoples Card Services® – A leading issuer of Visa® and MasterCard® credit and prepaid cards, we are recognized as a pioneer and innovator of card programs cards in Canada. Last year we issued 30+ million cards in 750+ programs across Canada, totaling more than $1.2 billion loads.
Peoples Payment Solutions® – Providing a ‘one stop solution’ for merchants in Canada in partnership with sponsored Independent Sales Organizations (ISO’s), Payment Facilitators, and Processors with connections to Visa®, MasterCard®, Discover® and Interac®.
Peoples Trust Financial™ – The Peoples Trust Secured MasterCard® Credit Rebuilder card, helps Canadians build or rebuild their credit rating while enjoying the benefits of having a low-interest credit card. The Secured Card referral program offers professionals a credit repair solution for their clients, while offering a commission for every approved application.

About this Job:
We are seeking a highly motivated and skilled Senior Manager, Credit & Default Management with a strong track record in management of arrears. A proven track record in collection of delinquent accounts, initiation & enforcement of realization proceedings, and experience working within the financial services market both at the domestic and international level is a plus.

Sound like you? Here’s what you’ll need to demonstrate:
Organization/project responsibility

ARREARS MANAGEMENT:
The incumbent performs administrative and management duties with respect to all loans in arrears both Commercial and Single Family as well as Personal Loans (Lendful), including (but not limited to) the following:

Monitor PTC regional offices (Vancouver, Calgary, Toronto) as well as Lendful for timely collection of delinquent loan and other payments
Monitor Paradigm and other Originators for timely collection of Single Family delinquent loans
Liaison with PTC regional offices and Lendful for timely receipt of relevant file data and information required for the realization process, and liaison with PTC underwriters and regional office managers to ensure appropriate course of action is undertaken for effective default management
Initiate and follow through on legal action (all regions), including engagement of solicitors, receivers, appraisers, property managers, realtors and other outside professionals
Manage solicitors, receivers, realtors, property managers and other professionals to ensure PTC is receiving the best service possible for dollars expended. This responsibility includes the critical, in-depth analysis of invoices submitted, prior to authorization for payment processing by PTC
Analyze and critique reports from realtors, receivers, appraisers, property managers and other professionals engaged by PTC, to fully realize the end goal of meeting standards of excellence in terms of timely and comprehensive reporting expected of professionals engaged by PTC
Prepare detailed mortgage statements to be included with instruction letter to solicitors with respect to issuance of formal demand for payment and/or legal proceedings
Prepare mortgage deficiency claims, and supplemental claims, for submission to CMHC
Requisition payment of expenses associated with default management, e.g. legal expenses, appraisal expenses, insurance costs, security patrol, receivership costs, unpaid strata fees etc.
Maintain insurance report to be updated on monthly basis as enforced properties are added to or deleted from PTC master corporate insurance (impairment) policy; including liaison with PTC’s corporate insurers to effect cost competitive coverage to minimize insurance costs
Monitor sales performance on enforced properties to include provision of regular sales and marketing reports from realtors to effect orderly repayment of PTC loan indebtedness
Update comments on mortgage system arrears report on weekly basis
Attend meetings as required (Credit Committee, Loan Loss Committee, Paradigm etc.)
Keep Senior Management advised on all material issues.
MANAGEMENT REPORTS

Monthly:
Supplemental arrears report (B6)
CMHC arrears report with individual information sheets per loan – Multi Unit
Log sheets for all loans 90 days or more in arrears or on which legal action has been commenced
Risk rating changes report (B7)
Review Monthly Arrears Report from Paradigm for all single-family loans
Review Weekly/Monthly Arrears Report from Lendful

Quarterly:
Supplementary Loan Write-off Schedule
Deck with summary of arrears for quarterly board meetings

Your key responsibilities:
In an ever-changing business environment, you will be agile in seizing opportunities to pioneer ways to meet and exceed your responsibilities.

The people you’ll work with:
In this role, you will have the opportunity to work with various teams across the company and directly contribute to the success of your colleagues and interact with the wider Peoples Group team.

Other information you should know:
Physical Requirements:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Frequent periods are spent sitting and standing in the same location. While performing the duties of this job, the employee may occasionally be required to move about or lift light objects (typically less than 15 lbs.)

Work Environment:
The regular work environment is usually an office setting with conditions typical of an office. The employee may infrequently be exposed to other conditions, such as outside weather conditions. The work environment usually has a quiet to moderate noise level. When there is a business requirement you may be asked or required to work after regular business hours including nights, weekends, and holidays.

Disclaimer:
This information should not be construed as the position’s exclusive standards. Performing other assigned duties is required. Reasonable accommodation may be made to enable individuals with disabilities to perform essential functions. Employees are responsible for knowing and following all company policies and procedures and Federal, Provincial and Local governmental regulations including Occupational Health and Safety requirements while working and representing Peoples Group.

Compensation and Benefits

Competitive salary

Extended Health Care

Paid leave (vacation, personal)

If you are interested in joining our dynamic team, please submit your resume today.

Peoples Group is an Equal Opportunity Employer. Minorities/Women/Veterans/Disabled.

Qualifications
Skills
Preferred
Excellent Time Management Expert
Decision Maker Expert
Work in a Team Expert
Work Independently Expert
Ability to Prioritize Expert
Critical Thinker Expert
Excellent Verbal Communicator Expert
Excellent Written Communication Expert
Exceptional Organizational Skills Expert
Problem Solver Expert
Strategic Thinker Expert
Sound Decision Making Skills Expert
Strong Work Ethic Expert
Analytical Expert
Advanced Microsoft Office Expert
Ability to Meet Deadlines Expert
Ability to Execute Reports Expert
Ability to Build Reports Expert
Experience
Preferred

10 years: 10 years experience in a similar role