Financial Services Officer I, Collections

Atlantic Central is currently accepting applications for its subsidiary, League Savings and Mortgage Company, Halifax Branch, for the position of Financial Services Officer I, Collections to provide delinquency control and the collection of all delinquent accounts of residential and commercial mortgage and other loans to recover past due accounts.

The Position:
Reporting to the Manager, Collections, the Financial Services Officer I will be responsible for:

  • Reviewing delinquent accounts to determine which borrowers must be contacted for collection of overdue payments and/or tax arrears. Contacting and negotiating with delinquent borrowers by mail, in person or by telephone to encourage prompt repayment of delinquent accounts and discuss available options and alternatives. Restructuring mortgage information as required, tracing and tracking borrowers when necessary. Processing the daily NSF report and charging NSF service fees to client accounts as appropriate. Determining which accounts require preparation of a full disclosure letter, preparing letters, and tracking numbers in accordance with FCAC requirements. Recording receipt of replacement payments, preparing and providing posting instructions for posting of the payment.  Assisting the department with the posting of payments and account changes.
  • Conferring with delinquent borrowers to determine reason for overdue payment, reviewing terms of loan, charge, or credit contract. Working with delinquent borrowers to recover principle, interest and taxes. Providing financial counseling to borrowers as appropriate and/or making referrals to credit unions, LSM and/or Mortgage Brokerage for those requiring financial planning advice.  Monitoring action lists on Delinquency Management System (DMS) daily and weekly reports to ensure timely follow-up. Monitoring front end mortgages, adjusting payment dates as required. Working in partnership with credit unions to have them assist with collection and foreclosure activity as required.
  • Recording information about financial status of borrower and status of collection efforts on the Delinquency Management System (DMS). Maintaining a log on bankrupt accounts and other file information regarding legal and regulatory processes. Qualifying and approving interest payments as requested. Acting as liaison between accounting and credit unions to ensure ICU is processed correctly. Monitoring Mortgage Origination Program accounts that are in arrears and confirm taxes are up to date.
  • Preparing various reports such as Delinquency and CMHC.
  • Recommending orders for repossession, demands and foreclosures on delinquent mortgage loans. Ensuring abandoned properties are adequately secured. Monitoring on-line tax sales posting to minimize possible loss.
  • Assisting with the preparation of claims to CHMC, etc. as required.
  • Acting as back-up to the Financial Services Officer II, Collections and providing assistance to the Manager, Collections as required.
  • Completing other duties and projects as assigned.

The Person:
The successful candidate will have successfully completed a Diploma in Business Administration plus have one to three years experience in credit and collections in a financial institution; or have an equivalent combination of training and experience in credit management, as well as the following skill set:

  • Strong oral and written communication skills
  • Principles of collection and obtaining unpaid funds
  • Working knowledge of regulatory requirements governing collection functions
  • Demonstrated proficiency in Microsoft Office applications (Excel, Word, PowerPoint)
  • Demonstrated ability for accuracy and attention to detail
  • Demonstrated understanding of the mortgage process: underwriting, credit analysis, property appraisal, title work, disbursement, closing and accounting entries
  • Proven ability to perform basic mathematical including computations of rates, ratios and percents

The successful candidate will demonstrate strong competencies in:

  • Adaptability to Change
  • Customer Service Orientation
  • Listening, Understanding and Responding
  • Results Orientation
  • Teamwork and Cooperation
  • Strategic Orientation

Compensation:
This is a full-time position and is rated a Salary Level CU-4 ($39,959 – $47,010). League Savings and Mortgage Company offers a competitive benefits package as well as the opportunity to participate in the Performance Sharing Incentive Plan.

Applications will close on Tuesday, July 8, 2014.

Interested candidates should forward their résumé, in confidence, to:

Human Resources Department
Atlantic Central
PO Box 9200, Station A
Halifax, NS   B3K 5N3

Email: humanresources@atlanticcentral.ca (When sending applications by e-mail, please send in MS Word format)