Recovery Specialist - 12 month contract

About the role

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we're passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage™ product. OUR VALUES, OUR PASSION At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other. Customer-Focused. Passionate Advocates Courage to Act. Do the Right Thing One Team. One Vision Think Long-Term. Ever-Evolving Be Exceptional. Inspire Greatness POSITION SUMMARY Reporting to the Senior Manager, Default management, the Recovery specialist will be responsible for managing the early low risk stages of Default to ensure that the portfolio is maintained, and all aspects of collection processes are completed in accordance with the Standard Operating Procedures. The Recovery specialist will lead by example and ensure healthy and effective relationships are fostered within and outside the bank. The Recovery specialist plays a critical frontline role in the bank's early-stage default management strategy, helping to identify and resolve potential risks before they escalate into high risk delinquency or losses. This role contributes directly to the bank's ability to prevent defaults, reduce exposure and protect the portfolio performance. Overall, the Recovery specialist contributes to the stability and integrity of the bank's mortgage portfolio, enabling senior recovery teams to focus on high-risk files, while ensuring that lower-risk issues are managed with diligence, speed and care. MAJOR ELEMENTS OF THE ROLE

Responsibilities

• Early Stage Delinquency Monitoring and Administrative oversight :
• Communicate with clients through phone, email or written correspondence to clarify account issues and ensure accurate understanding of their obligations.
• Document all interactions and account updates in MARS or other servicing systems with accuracy and timeliness to maintain a reliable audit trail.
• Elevate accounts to senior team members or escalate for further review when signs of increasing risk are detected or when customer circumstances warrant additional assessment
• Default Prevention Support and Special Projects:
• Participate in proactive risk management activities by handling ad hoc assignments such as obituary reviews, Occupancy validations and preliminary property searches.
• Assist with administrative tasks related to insurance tracking, title monitoring and property related documentation.
• Work collaboratively to flag accounts that require senior recovery intervention, playing a supporting role in the banks' loss mitigation strategy.
• Maintain working knowledge of default prevention procedures and contribute ideas for improving internal controls and workflows related to early -stage collections.
• Customer and Stakeholder Support :
• Ensure prompt and professional communication with both clients and internal partners to support recovery outcomes and uphold the bank's customer service standards.
• SKILLS AND EXPERIENCE REQUIRED

Requirements

• Post-secondary education in business, finance, or a related discipline (college diploma or university degree) or equivalent experience.
• Minimum 1 year of experience in a collections, servicing, or default support role within the financial services or mortgage industry.
• Familiarity with mortgage servicing terms, credit principles, and risk indicators such as insurance non-compliance or insolvency.
• Proficiency in Microsoft Office Suite (especially Excel and Outlook), with the ability to work across multiple systems and platforms (e.g., MARS, Salesforce, or equivalent servicing software).
• Strong organizational skills and the ability to multi-task in a fast-paced environment, balancing phone calls, emails, and system updates with administrative responsibilities.
• Attributes
• Highly organized and detail-oriented, with strong time management skills and the ability to work independently on assigned portfolios.
• Comfortable managing a high volume of tasks and shifting priorities without sacrificing accuracy or follow-through.
• Strong co

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