Senior Manager, Default Recovery - Legal Action & Real Estate

About the role

Fairstone Bank and its family of brands are united in delivering innovative, accessible and reliable financial solutions that enable Canadians to reach their goals. Over the years, our brand family has grown. In 2024, Home Trust Company, Home Bank and Oaken Financial became part of the Fairstone Bank family of brands, alongside Fairstone, Eden Park and Fig. Together, we are the leading alternative lending bank in Canada. We have the collective experience and expertise to better serve our customers and foster our partners' growth. With a diverse suite of products-residential and commercial mortgages, consumer deposits and GICs, credit cards, retail and automobile financing, personal loans and digital lending-we offer financial solutions tailored to all Canadians, including newcomers, small-business owners, smart investors and savvy consumers. Backed by nearly a century of lending experience through its legacy companies, Fairstone Bank and its brand family are proud to be Canada's leading alternative lending bank. Home Trust: Home Trust Company has developed a track record of success as Canada's leading alternative lender, employing nearly 800 people in our Toronto headquarters and branches across the country. Building on the demonstrated strength of its core residential mortgage lending business, the Company also offers complementary lending services, as well as highly competitive deposit investment products, through Oaken Financial. Our culture has been shaped by the passion and integrity of our people. Join Home Trust as a Senior Manager, Default Recovery, reporting to VP Default Recovery & Accounts Receivable, and be part of our talented and growing team! Senior Manager, Default Recovery is an expert in mortgage enforcement and leads the end-to-end recovery strategy for delinquent and non-performing residential and small commercial nationwide mortgage portfolio. This role is responsible for maximizing recoveries, reducing losses, and ensuring all recovery activities comply with regulatory and internal policies. The position oversees internal teams of the end-to-end recovery process, including legal enforcement, asset disposal and portfolio management and external partners while driving data-informed decisions and continuous process improvements.

Responsibilities

• Management & Leadership
• Developing and implementing recovery strategies, and providing reporting to senior leadership
• Oversee external partners such as solicitors, property managers, real estate agents, and appraisers, related costs and SLA's as applicable
• Lead, coach and manage recovery teams to achieve performance targets
• Oversee the instructing solicitors and managing legal remedies according to provincial laws
• Executing strategies for the sale of security(property) and recovery of debt against personal covenants
• Manage litigation, bankruptcy and settlement processes where applicable
• Champion technical and process enhancements, working with key stakeholders both internal and external
• Promote a culture of compliance, accountability, and customer-centric recovery
• Risk & Compliance
• Acts in accordance with Fairstone Bank's core values, Code of Conduct & all internal policies & standards
• Engages in the highest standard of business conduct and ethics
• Ensure and incorporate regulatory & Compliance requirements into existing business processes & activities
• Identifies opportunities to mitigate potential risk and to strengthen compliance activities for Fairstone Bank and it's stakeholders, in daily operational activities
• Collaborate with risk, legal, finance and Operations to align recovery strategies with business objectives
• Reporting & Assessment
• Monitor portfolio performance, analyze recovery trends, and implement optimization initiatives
• Meet or exceed monthly, quarterly and yearly target for cured files and loss reduction
• Prepare and deliver performance reports to senior leadership to display results for impaired loans, including provisions, forecasts, trends, early warning indicators and KPI/KRI's

Requirements

• University degree in finance, Business Administration, Economics or a related field of business or discipline
• Additional relevant accreditation(s), certification(s) are a strong asset
• 8 -12 years of experience in Residential and Commercial Mortgage lending, collections, recovery, credit risk or related financial services roles
• Proven leadership experience managing teams and external vendors
• Strong understanding of debt recovery regulations, legal processes and compliance requirements
• High level of expertise in Mortgage Administration and Servicing
• Demonstrated ability to use data and analytics to drive decision making
• Experience with recovery systems, collection platforms and performance metrics
• Strategic thinking and problem-solving
• Strong leadership and team development skills
• Excellent communication and stakeholder management
• High attention to detail and risk aware

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