Senior Account Manager, Special Loans

at  Connect First Credit Union

WE’RE COMMITTED TO PROVIDING REMARKABLE EXPERIENCES TO OUR MEMBERS, OUR COMMUNITIES, AND OUR EMPLOYEES, AND WE’RE PROUD TO BE REGARDED AS ONE OF THE BEST:

• Named among Canada’s Most Admired Corporate Cultures™ by Waterstone Human Capital
• Recipient of Canada’s Best Managed Companies award for 21 consecutive years
• $12.3 billion book of business (Deposits=45%, Loans=43%, Wealth Management=10%, Syndicated Loans=2%)
• 750 employees
• $585 million in Member’s equity

POSITION OVERVIEW:

The Senior Account Manager, Special Loans, is a key member of a dynamic team, delivering superior personalized service to our members. Reporting to the Manager, Special Loans and Collections, this role is responsible for monitoring, managing, and mitigating credit losses within a complex portfolio of high-risk commercial, agricultural and real estate loans. The role involves managing the assigned special loans account portfolio through its life cycle following file transfer from the lines of business.
The individual will implement a proactive approach to successfully collect on delinquent or challenged files and also build relationships members to ensure long term financial success of both our membership and the credit union. The Senior Account Manager, Special Loans, continuously develops their knowledge and technical expertise by taking courses and training sessions relevant to this position.
The role requires the ability to negotiate short and long-term payment arrangements, loan workouts, security seizures, and foreclosures. Additionally, the individual will complete loan applications and related documentation for new loans, renewals, loan payment extensions, alterations, and substitutions of security within prescribed limits, ensuring loan profitability through the assessment of loan rates, service charges, and fees.

KEY ACCOUNTABILITIES:

• Manage Delinquent Accounts: Actively work with delinquent members to achieve the approved special loans account management strategy in compliance with internal credit policies, legal parameters, and regulatory guidelines.
• Remediation and Restructuring: Complete reviews, renewals, and restructuring to bring accounts back to good standing.
• Enforcement: Collaborate with legal counsel to enforce actions, aiming for maximum realization for the Credit Union and equity recovery by the member.
• Write-Offs: Process write-off recommendations in line with policy and procedures for approval.
• Leadership: Provide leadership and guidance to Special Loans Analysts to manage early delinquency processes across different lines of business. Work proactively with Relationship/Account Managers, Advisors, and Branch Managers to regularize accounts.
• Portfolio Management: Provide account and portfolio management, monitoring, and oversight to limit delinquency and mitigate the deterioration, distress, and eventual default of member accounts flagged by the Lines of Business and/or Commercial Credit Managers.
• Member Engagement: Engage members to establish a preliminary connection following the transfer of their delinquent, deteriorating, distressed, and/or defaulted accounts to the special loan portfolio.
• Analysis and Reporting: Understand and analyze the challenges related to delinquent, deteriorating, distressed, and defaulted loan accounts. Review member files and related loan documentation to provide summary file status reports to the Manager, Special Loans and Collections.
• Strategy Development: Propose special loans account management strategies for each file in compliance with internal credit policies, legal parameters, and regulatory guidelines. Secure necessary Risk and Credit Leadership approval to execute these strategies.
• Portfolio Monitoring: Monitor the Credit Union’s loan portfolio and provide accurate, timely reporting on delinquencies, caution risk, watchlist, provisions, write-offs, and recoveries. Make recommendations to management through the Risk and Credit Services Leadership on key loan metrics as per policy and regulatory requirements.
• Collaboration: Collaborate with Special Loans Analysts and internal stakeholders to ensure all business operations activities related to special loans account management and external stakeholder commitments are promptly and efficiently executed and recorded.
• Risk Management: Identify deficiencies in special loans risk management operations and contribute to the development, implementation, and maintenance of policies, processes, initiatives, and programs to address these deficiencies in line with CUDGC guidelines.
• Relationship Building: Establish and maintain collaborative working relationships with internal and external stakeholders, including solicitors, insolvency consultants, realtors, brokers, auction houses, and bailiffs, to manage loan portfolio risks.
• Regulatory Liaison: Liaise with regulators and auditors (internal and external) regarding the overall performance of the special loans portfolio as required and assigned by the Manager, Special Loans and Collections.
• Community Representation: Represent the organization within the community and among select networking groups.
• Market Awareness: Stay current on market data, trends, best practices, legislation, regulations, policies, and procedures. Highlight the impact and applicability to the team’s operations, objectives, deliverables, and portfolio.
• Compliance: Ensure compliance with connectFirst Credit Union and CUDGC policies and guidelines.
• Community Engagement: Establish, manage, and maintain awareness of the organization in the local community and among professional networking groups.
• Credit Risk Management: Assist in the overall management and monitoring of commercial credit risk exposure, ensuring compliance with organizational and CUDGC policies and guidelines.

EXPERIENCE AND/OR EDUCATIONAL REQUIREMENTS:

• Minimum 8 years commercial banking experience with strong commercial credit and lending process/analysis.
• A 4-year minimum commercial/retail collections experience is considered an asset.
• Completed a relevant certificate, diploma, degree, or designation program.
• Familiar with relevant legislation and regulation relating to credit and collections environment. Specifically, insolvency laws, relevant sections of the Credit Union Act and other applicable legislation, Credit Union Deposit Guarantee Corporation policies and direction, connectFirst policies and lending procedures, lending authorities and limits.
• Demonstrate understanding of key Government of Canada financing initiatives to support small businesses and agriculture (CSBFA, CALA etc).
• An equivalent combination of education and experience may also be considered.

SKILLS AND COMPETENCIES:

• Member focused, acting as a trusted advisor and able to balance Member needs based on strong empathy with the objectives of the Credit Union.
• Exceptional interpersonal skills, able to relate well with diverse personalities and quickly build relationships.
• Excellent critical thinking, analytical with demonstrated problem solving capacity through the application of policies, procedures, experience, and sound judgment.
• Mental toughness with demonstrated knowledge of collections/enforcement procedures and ability to effectively negotiate and reach a satisfactory financial conclusion with limited handholding.
• Organized, pays great attention to details, possessing great record keeping and multi-tasking skills.
• Excellent computer skills with Microsoft Office suite knowledge and willingness to learn other programs.
• Excellent communication skills; both written and verbal – report writing is critical.

QUALIFIED APPLICANTS ARE INVITED TO APPLY ONLINE.

We thank all applicants for their interest. Please note applications will only be accepted online and only those applicants under consideration will be contacted.
For more information on Connect First Credit Union Careers, please visit https://www.ConnectFirstCU.com/Careers

Please refer the Job description for details