We are a leading financial services provider committed to making decisions easier and lives better for our customers and colleagues around the world. From our environmental initiatives to our community investments, we lead with values throughout our business. To help us stand out, we help you step up, because when colleagues are healthy, respected and meaningfully challenged, we all thrive. Discover how you can grow your career, make impact and drive real change with our Winning Team today.
Working Arrangement
Hybrid
Job Description
The opportunity
Reporting to the Director, Customer Onboarding and Retention, the Senior Manager, Collections & Asset Recovery, is accountable for the day-to-day operations of the Collections, Estates and Proactive Account Monitoring (PAM) functions – monitor delinquency, minimize company losses, manage fluctuating volumes of work, leverage resources between Halifax and Waterloo locations and ensure escalated complex issues are resolved through coaching and feedback to the team. The Senior Manager owns the hiring process and is accountable for providing leadership, direction and mentoring the team while fostering a positive work environment. The Senior Manager creates and maintains strong internal relationships, both within the cross-location team and the Bank and looks for opportunities to improve and streamline processes in order to reduce delinquency and maximize benefit to the Bank.
Responsibilities
Lending Asset Recovery:
Manage monthly arrears report to ensure delinquent accounts are addressed for purposes of controlling credit exposure
Manage escalated impaired accounts and provide recommendations and/or solutions
Oversee payment processing to ensure payments and adjustments are processed accurately and per company policies
Ensure staff gather, analyze and investigate accounts to determine client’s ability to repay the debt
Recommend specific provisions for impaired legal files, as required
Structure and recommend write off solution for approval with a goal to keep Bank losses at a minimum, as required.
Loss/Risk Mitigation Activity:
Manage Bank arrears and loss percentages to ensure they remain in-line with the Bank’s risk appetite and applicable business thresholds
Oversee the PAM program designed to identify clients who exhibit behavioural characteristics that suggest a greater likelihood of migrating into arrears and offering proactive default solutions to regularize the account
Review escalated payment arrangements to ensure they fall within credit policy guidelines
Provide guidance and support to team involving complex situations, escalations and requests for exceptions. Negotiating where appropriate with internal partners and clients with a view to reduce Bank losses
Review escalated legal or third-party notices where the Bank’s security is at risk, including property tax arrears, tax sales or insurance cancellation notice
Identify and transition accounts to be forwarded to a third-party collection agency
Operational Support :
Manage incoming calls and timeliness of proactively contacting clients, report on monthly volumes and service levels to identify trends and resourcing needs
Responsible for the review and commentary of the monthly credit arrears report, ensuring appropriate action has been taken on a timely basis by Collections staff
Manage the balance between customer expectation and reputational risk of highly sensitive situations and disgruntled, irate clients
Ensure client privacy and confidentiality are maintained and that processes align with Bank and Compliance policies and practices
Identify as well as spearhead process improvement initiatives within the team or across teams.
Participate and recommend strategic direction for department regarding collection tactics and campaigns, resource planning, technology platforms, and overall operating effectiveness
Develop Staff and provide direction:
Provide effective leadership, coaching/support, motivation, recruitment and development of staff; building a high performance, cohesive team while fostering a positive work environment
Provide regular feedback on performance
Create development plan and provide development opportunities for staff
Ensure the team provides exceptional service to our clients through the highest level of professionalism, listening attentively, and diplomacy by developing and maintaining a highly motivated team
Ensure the team is highly trained and knowledgeable on the benefits of the features of mortgage products, bank processes, the Bank’s credit policy, compliance and regulatory requirements including but not limited to the Bank Act, Dept of Finance mortgage portfolio insurance rules, mortgage provincial regulations, real estate law and other regulatory requirements
How will you create impact?
You will create impact by mitigating risk and losses to the Bank’s Net Lending Assets and revenue. You will also be able to provide trending on customer challenges with various products to better understand how to provide customer support and knowledge on the effective handling of products such as the Manulife One account.
What motivates you?
You obsess about customers, listen, engage and act for their benefit.
You think big, with curiosity to discover ways to use your agile approach and enable business outcomes.
You thrive in teams and enjoy getting things done together.
You take ownership and build solutions, focusing on what matters.
You do what is right, work with integrity and speak up.
You share your humanity, helping us build a diverse and inclusive work environment for everyone.
What we are looking for
Demonstrated leadership skills in motivating, developing, team building and mentoring
5-8 years collections experience required.
Thorough knowledge of laws, rules and regulations governing collection functions in various provinces
Experience with legal terminology, forms and procedures
Excellent analytical, interpretive and judgment skills and strong problem-solving capabilities
Solid communication skills, both written and verbal
Superior influencing, negotiating and conflict management skills
Results oriented. Proactively seeks solutions and takes actions
Excellent organizational, prioritization and time management skills
Comprehensive understanding of Manulife Bank products and services
Organized, adaptable and open to change
Must thrive in a highly structured, fast-paced changing environment with the ability to manage conflicting priorities and fluctuating work volumes
What can we offer you?
A competitive salary and benefits packages.
A growth trajectory that extends upward and outward, encouraging you to follow your passions and learn new skills.
A focus on growing your career path with us.
Flexible work policies and strong work-life balance.
Professional development and leadership opportunities.
Our commitment to you
Values-first cultureWe lead with our Values every day and bring them to life together.
Boundless opportunityWe create opportunities to learn and grow at every stage of your career.
Continuous innovationWe invite you to help redefine the future of financial services.
Delivering the promise of Diversity, Equity and InclusionWe foster an inclusive workplace where everyone thrives.
Championing Corporate CitizenshipWe build a business that benefits all stakeholders and has a positive social and environmental impact.
About Manulife and John Hancock
Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Asia, Canada, and Europe, and primarily as John Hancock in the United States. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. At the end of 2022, we had more than 40,000 employees, over 116,000 agents, and thousands of distribution partners, serving over 34 million customers. At the end of 2022, we had $1.3 trillion (US$1.0 trillion) in assets under management and administration, including total invested assets of $0.4 trillion (US $0.3 trillion), and segregated funds net assets of $0.3 trillion (US$0.3 trillion). We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges, and under ‘945’ in Hong Kong.
Manulife is an Equal Opportunity Employer
At Manulife /John Hancock , we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour , ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.
It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process . All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies . To request a reasonable accommodation in the application process, contact .
Salary & Benefits
The annual base salary for this role is listed below.
Primary Location
Waterloo, Ontario
Salary range is expected to be between
$77,250.00 CAD – $139,050.00 CAD
If you are applying for this role outside of the primary location, please contact for the salary range for your location. The actual salary will vary depending on local market conditions, geography and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training. Employees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance.
Manulife offers eligible employees a wide array of customizable benefits, including health, dental, mental health, vision, short- and long-term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans. We also offer eligible employees various retirement savings plans (including pension and a global share ownership plan with employer matching contributions) and financial education and counseling resources. Our generous paid time off program in Canada includes holidays, vacation, personal, and sick days, and we offer the full range of statutory leaves of absence. If you are applying for this role in the U.S., please contact for more information about U.S.-specific paid time off provisions.
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