OverviewCIBC Credit Counsellor – High Value At Risk Full Time in Toronto, ON
Branch Toronto ON CA
Credit Counsellor – High Value At Risk
Competitive salary and banking benefits. Through our three major businesses – Retail and Business Banking, Wealth Management and Wholesale Banking – we provide…
CIBC is a leading Canadian-based global financial institution. Through our three major businesses – Retail and Business Banking, Wealth Management and Wholesale Banking – we provide a full range of financial products and services to 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. We invest in our businesses, our clients, our people and our communities to deliver consistent and sustainable earnings to our shareholders. To learn more about CIBC’s Lines of Business, please visit our website .
CIBC delivers access to career and development opportunities, safe and healthy workplaces, effective training, and positive work-life balance – so that employees are able to perform at their best, contribute to their communities and focus on cultivating deeper relationships with our clients.
Every year, CIBC is recognized for its business successes , community commitment and employee initiatives. We are proud of these successes and are committed to creating an inclusive workplace and an environment where all employees can excel.
To learn more about CIBC and the CIBC Group of Companies please visit CIBC.com .
Imagine working in a highly empowered contact centre environment where you have the ability to provide advice to clients that helps them better meet their financial obligations and achieve their financial goals. As a Credit Counsellor with CIBC National Collections, you will enjoy an exciting career that is both personally and professionally rewarding, and offers great opportunities for career growth. Every day, you’ll have the chance to make a difference in our clients’ lives and feel good about what you do.
What You’ll Be Doing
A High Value Risk (HVAR) Credit Counselor is responsible for protecting our value proposition, reducing our assignments to third parties, and maximizing liquidation of the portfolios worked by the team. They interact with Customer, and Retail Branch Operations, Portfolio Management, Recovery Services, Customer Relations Unit, CIBC Customer Care, Executive Client Relations, and CIBC Ombudsman’s Office.
To be successful in their role, the individual requires extensive knowledge of products and procedures related to Collections, Bankruptcy, Credit Counseling Service, Consumer Proposals and Fraud; as well as in depth knowledge of Privacy Legislation and the Collection Act in order to successfully assess and mitigate issues that could potentially lead to Privacy, Legal and or Reputational Risk to the Bank. The counselor must also possess strong problem solving, communication and conflict management skills in order to successfully offer customers the highest quality service when applying appropriate solutions. Knowledge of all the CIBC approved offers and solutions for delinquent clients would be beneficial.
Reporting to the Manager, HVAR, the credit counselor will work primarily on high value at risk accounts. Through effective utilization of collection policies and procedures, the HVAR counselor will minimize financial losses and strive to maintain good customer relations. In addition to advising customers on payment options, the incumbent will provide support for and participate in special projects and campaigns that may be requested by CIBC Client Account Management product partners. Customer interactions are non-routine and may require research, interpretation of information and the application of diverse collection principles.
- Negotiate amicable solutions by utilizing knowledge of debt litigation, Canadian Privacy and Collection laws and processes.
- Utilize sound knowledge and understanding of the terms and conditions of CIBC contracts in order to effectively educate customers on their obligations of said contracts.
- Act decisively and effectively when dealing with sensitive customer situations, such as right of offset transactions
- Acknowledge and respond to customer inquiries and escalations and, where appropriate, arrange to provide additional information either through branch, telephone or written correspondence to achieve mutually satisfactory arrangements.
- Gather and examine complex, unstructured problems, and solve them in an organized, systematic and logical manner.
- Diffuse irate customers and maintain poise and perseverance in order to effectively manage customer interactions and successfully identify the root cause of issues and provide appropriate solutions.
- Determine the root cause of issues and propose appropriate options in order to minimize loss, mitigate overall risk to CIBC and preserve customer loyalty, where possible.
- Apply advanced thinking in assessing the uniqueness of each situation in making sound decisions that balance the organizations need to minimize risk and losses.
- Interview customers and update financial, demographic profiles and security status ensuring documentation is complete and accurate.
- Continuously identify and recommend improvements to job operational effectiveness and advise manager of opportunities to improve processes and procedures.
- Engage the customer in mutual problem solving when dealing with non-routine situational factors to create personal, unique solutions. Conduct research and or obtain information from specialized sources when necessary.
- Maintaining poise and perseverance when dealing with dissatisfied or difficult customers.
Utilize highly effective analytic skills to quickly determining the root cause of delinquency and propose appropriate options on individual accounts in order to minimize loss, mitigate overall risk to CIBC and preserve customer loyalty, where possible.
- Draw on knowledge of debt litigation, Canadian privacy and collection laws and debt recovery processes to negotiate proper solutions and secure prompt payment.
- Focus at all times on loss protection to the bank and ensure that every effort is made to preserve the bank’s relationship with the customer for this and future transactions, products and services.
- Performs other duties and special projects as required.
- Identify potential financial, legal, reputational risks and engage Retail Account Services Senior Management team as required.
- Leverage and share best practices and specialized knowledge with RES and PreOA teams to increase performance and mitigate risks.
- Collaborate closely with multiple lines of business within the organization to mitigate risk and improve performance and compliance.
- Comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls.
- Maintain CIBC’s professional image and Code Of Conduct.
- Maintain confidentiality and security standards.
- Drive the decision making process based on gathered facts, data, observation, and analysis
- Communicate and present information to various management levels within CIBC.
- Leverage networks and improve knowledge of collection, governance, audit and compliance practices to effectively adapt recovery strategies in response to findings, changes in market conditions and/or legislations.
- Research, gather data, analyze, lead and/or provide support, as required, on projects to identify operational impacts and recommend solutions to management.
- Participate in departmental or corporate projects as the designated representative and provide subject matter expertise.
- Represent the business unit as a subject matter expert in inter-departmental policy and procedures implementation and meetings. Work closely with Retail Account Services Management to exchange and gather information about the portfolios.
What we’re looking for
- Extensive understanding of secured and unsecured portfolios, work plans and policies.
- Good working knowledge of Bank supported or other software i.e.: Excel, Word, Microsoft Office etc.
- Good working knowledge of Bank Systems i.e.: Delinquency Recovery System (DRS), Coins/Colt, Class, Commcorp, Plexus, TS2, Target, etc.,
- Good working knowledge of Financial Statements, Bank OFSI standards and Business Recovery Planning.
- Good practical knowledge of Business Computer Systems
- Excellent knowledge of Collection Processes and Procedures
- Strong knowledge of debt litigation, federal and provincial privacy and collection laws and debt recovery processes.
- Knowledge of skip tracing techniques and good skip tracing skills.
- Excellent verbal and written communication skills.
- Professional and courteous phone manner in order to deal effectively with customers and sensitive situations.
- Strong interpersonal, analytical, negotiation and decision making skills.
- Demonstrated ability to resolve difficult client exchanges through high quality, service oriented interactions.
- Ability to work independently in a busy, fast paced environment.
What CIBC Can Offer You
- Flexible health benefits, stock purchase plan , competitive incentive pay and recognition programs
- Competitive salary and banking benefits
- Career growth, development and continuous learning opportunities
- Opportunity to be involved in CIBC events that help our communities
- Click to learn more about Rewards & Recognition , Learning & Development , and Employee Community Involvement
What You Need To Know
- Working hours: Flexibility within Centre hours: Monday to Friday 3:00 p.m. – 11:00 p.m., and rotating Saturday
‘s 8:00 a.m. – 4:00 p.m. Must be legally eligible to work in Canada at the location(s) specified above and, where applicable, must have a valid work permit or study permit that allows the candidate to fulfill the requirements of the role
Employment Type: Full Time
Location: Toronto, ON, CA
Posted on: 2016-09-27