[Hiring] Senior Associate Collections @BMO

Role Description

The Collection Agency & Debt Sale Support Representative is responsible for supporting the oversight of third-party collection agencies and debt sale activities. The role ensures operational effectiveness, regulatory compliance, accurate reporting, timely issue resolution, and adherence to internal policies and procedures. The incumbent serves as a liaison between internal stakeholders, collection agencies, debt buyers, and other external vendors.

Key Responsibilities

• Collection Agency Support
  • Prepare regular reports related to collection agencies and document items and follow-up activities.
  • Review compliance with contractual requirements and internal policies.
  • Investigate and resolve agency-related escalations and operational issues.
  • Maintain and pull agency reporting on performance.
  • Assign or recall Agency outsourced accounts.
  • Respond to Agency hotline customer calls.
  • Respond to Agency shared email box.
• Debt Sale Administration
  • Prepare and support debt sale account inventories and related documentation.
  • Communicate with Debt sale buyers post sale and operational requests.
  • Monitor debt sale workflows and ensure timely completion of required activities.
  • Maintain tracking and reporting of debt sale volumes and exception items.
  • Support post-sale reconciliation processes and account maintenance activities.
  • Participate in process reviews to improve debt sale operational efficiency.
• Compliance & Risk Management
  • Ensure activities comply with regulatory requirements, vendor governance standards, and internal policies.
  • Support audits, quality reviews, and compliance assessments.
  • Maintain accurate records and documentation for agency and debt sale activities.
  • Identify and escalate operational, compliance, or reputational risks.
  • Provide timely responses to inquiries from agencies, debt buyers, and internal stakeholders.

Salary

$37,000.00 - $70,000.00

Pay Type: Salaried

The above represents BMO Financial Group’s pay range and type. Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on the number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

Benefits

• Performance-based incentives
• Discretionary bonuses
• Health insurance
• Tuition reimbursement
• Accident and life insurance
• Retirement savings plans

Company Description

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities, and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected, and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.