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Senior Manager, Collections - R250012747 Toronto

Bank of Montreal (BMO)

Toronto, Ontario

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  Save this job      2025-06-29

Senior Manager, Collections - R250012747 Toronto

Bank of Montreal (BMO)

Toronto, Ontario

 

Salary: $84,000.00 - $156,000.00

 

Application Deadline:

Provides leadership to the Canada Collections Call Centre overseeing all aspects of a call center's Early Stage Collections operations, ensuring efficient and effective customer service and satisfaction while aligning with broader business goals with respect to liquidation and cure rates and hardship.   As Senior Manager, you are responsible for managing teams, setting performance goals, implementing strategies to improve processes, ensuring compliance with quality standards and regulations. 

Business Operations

• Develops rapport and instils confidence with clients, staff and business partners in order to develop credibility and earn their trust
• With the support of the Customer Care Team, addresses the most complex escalated customer requests and transactions.

• Executes established loss mitigation processes/procedures for the resolution of non-performing and high risk accounts.
• Provides advice and guidance to assigned business/group on implementation of solutions.
• Acts as a subject matter expert on relevant regulations and policies.
• Develops the business case by identifying needs, analysing potential options and assessing expected return on investment.
• Reviews accounts and analyzes data and information to determine the probability of collection; provide insights and recommendations.
• 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.
• Keeps abreast of needs of 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.
• Develops and maintains awareness of industry trends and best practices and the regulatory environment as it relates to collections products and services.
• Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
• Implements changes in response to shifting trends.

Execution Excellence

• Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
• Ensures alignment between values and behaviour that fosters diversity and inclusion.
• Regularly connects work to BMO’s purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
• Works with managers / agents to ensure teams are equipped to understand customer needs and provide advice related to payments and overall collections strategies which are in the best interests of the customer.
• Identifies emerging issues and trends to inform decision-making.
• Develops action plans and solutions to maximize recovery and safeguard the Bank’s interests.
• Helps determine business priorities and best sequence for execution of business/group strategy.
• Completes report audits and spot checks as required; prepares for annual audits and partners to address any issues
• Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
• Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution.
• May network with industry contacts to gain competitive insights and best practices.

Leadership and People Management

• Able to effectively manage a large multivendor Early Stage Collections call centre which spans multiple jurisdictions / languages
• Enables managers and agents to collaborate in the review and evaluation process of delinquent accounts for collections opportunities.
• Understands customer needs and provides collections-related sales and service to BMO customers or prospects.
• Partnering with other teams in Collections, enables managers and agents to provide advise to customers on payment strategies and products that meet their objectives.
• Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
• Attracts, retains, and enables the career development of top talent.
• Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
• Enables exceptional customer service that builds trust through expertise, responsive service and support.
• Reviews and continually monitors performance of existing accounts and client relationships.
• Reinforces collections processes and client experiences, identifies gaps, issues and best practices through the monitoring of performance targets against plans in order to create and sustain superior collections outcomes
• Establishes expertise with Consumer Collections personnel as a key support contact/resource/coach with proficiency and tools to assist departments in achieving goals.
• Works with internal stakeholders to leverage sales, fulfillment, and referral opportunities to improve share of wallet, acquire new customers, and provide full financial services to customers.
• Develops and executes short term tactics/plans to drive specific behaviours, activities, and results.
• Leads the design, implementation and management of core business/group processes.
• Oversees the design, development, and implementation of tools and training required to deliver business results.
• Ensure compliance with documented policies and procedures to execute transactions, activities and processes.
• Communicates abstract concepts in simple terms.
• Supports continuous improvement initiatives by identifying and implementing changes to make processes more effective and efficient.

Qualifications:

• Fully bilingual
• Typically 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 - Expert.
• Knowledge of banking products and services
• Knowledge of competitive marketplace and trends in product offerings
• Negotiation skills – In-depth.
• Seasoned professional with a combination of education, experience and industry knowledge.
• Verbal & written communication skills - In-depth / Expert.
• Analytical and problem solving skills - In-depth / Expert.
• Influence skills - In-depth / Expert.
• Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
• Able to manage ambiguity.
• Data driven decision making - In-depth / Expert.

About Us

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.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.

About Bank of Montreal (BMO)

We’re proud to be the official bank of the Canadian Defence Community – and that goes beyond supporting your financial well-being. We value the skills you’ve earned in the military, and we’re here to help as you move into the next stage of your professional life.

BMO is a top ten North American bank that provides personal and commercial banking, global markets and investment banking services to 13 million customers and clients. Founded in 1817, we’re driven by our Purpose: Boldly Grow the Good in business and life. BMO has established itself as a destination for top talent, with an employee experience that’s built on   personalized career development opportunities, a performance-driven winning culture, competitive rewards and benefits, and a deepcommitment to the health and well-being of our people.

If you’re ambitious, curious, creative, and eager to make an impact, you should consider BMO as a place to build your career.

#ProudtoWork@BMO