Job DescriptionWe are currently seeking a Commercial Special Accounts Manager to join our team.The Commercial Special Accounts Manager controls and manages commercial delinquency on highly complex, sensitive and/or large impact memberships and accounts under the RR40/Watchlist portfolio. Responsibilities include supporting selected RR40 & RR50 files, collecting on commercial delinquency, and serving as a subject matter expert key on Tru Cooperative Bank's (Tru) commercial portfolio. This role collaborates with corporate credit and sales teams to address deficiencies, manage risk, and provide expert guidance to branches, members and Tru departments. The Manager works closely with the Director to identify early warning signs and implement risk mitigation strategies in the commercial portfolio.
Here's what would be included as a part of your typical day- Commercial Delinquency Control: Applies the principles of service excellence to coordinate and execute Tru commercial delinquency control program, ensuring compliance with credit policies and all statutory and regulatory requirements are adhered to. Manages complex commercial collection and RR40/50 situations including restructured proposals, foreclosures, repossessions, and court action, assess costs and other resources required to ensure maximum return on properties held for resale.
- Collection Activities: Acts as collector on unique, highly complex or sensitive delinquencies and RR40s/Watchlist portfolio; completes commercial write off submissions and refers write-offs to senior leadership for approval; assesses potential for future collection; ensures ongoing monitoring of written off delinquencies.
- Collaboration: Works with teams across Tru, providing expertise and guidance to branches, members and departments.
- Risk Management: Initiates legal action under Recovery Laws, both federal and provincial. Liaises with law firms representing Tru. Completes annual reviews on selected commercial accounts, RR40s & RR50s, and ensures all terms and conditions are identified. Ensures heighten portfolio monitoring to preserve the quality of Tru assets on a continuous basis. Identifies credit risks in restructured accounts and mechanisms to mitigate them by the development of a recovery plan. Provides delinquent portfolio analysis to the corporate credit.
- Financial Analysis: Completes analysis of financial statements and identifies any potential issues or concerns.
Required Skills, Experience & Qualifications- 7 years' progressive experience in commercial credit and collections with 3 years' in a management role required
- Bachelor's degree or a combination of education and experience
- Proven experience in the following areas: delinquency and collection practices, policies, procedures and legal requirements, commercial underwriting, corporate credit analysis, regulatory knowledge, negotiating, and risk management preferred
- Experience dealing with executive officers, boards, litigation lawyers, accountants, appraisers preferred
- Strong communication and interpersonal skills with the ability to communicate both verbally and in writing with a wide variety of people
- Excellent decision-making skills, considering long-term implications to the member and the organization
- Proven negotiation skills
- Sound knowledge of financial statement analysis and accounting policies/practices
- Proficient knowledge of credit evaluation methods, tools & techniques
- Understanding of regulatory requirements on credit issued by FICOM, OSFI
- Proficient with computer software programs, e.g. MS Office
- Displays an understanding of risk and risk ownership by being able to demonstrate adherence to policies and procedures.
