Account Specialist - High Risk Collections

📌 Core Information

🔹 Job Title: Account Specialist - High Risk Collections

🔹 Company: Bank of Montreal

🔹 Location: Ontario, Canada

🔹 Job Type: Remote

🔹 Category: Customer Shared Services

🔹 Date Posted: March 30, 2025

🔹 Experience Level: 2-5 years

🔹 Remote Status: Remote solely

📌 Essential Job Details

🚀 Job Overview

Key aspects of this role include:

• Review and evaluation of delinquent, high risk, or written-off accounts.
• Customer collections-related sales and service tasks.
• Advisory on payment strategies for BMO customers.
• Execution of loss mitigation processes for high-risk accounts.

ASSUMPTION: It is assumed the role requires strong problem-solving abilities and a solid understanding of collections processes due to the need to handle high-risk accounts effectively.

📋 Key Responsibilities

✅ Delivering exceptional customer service to build trust and instill confidence.

✅ Developing rapport with clients to strengthen relationships.

✅ Contacting customers for managing application information and providing payment updates.

✅ Executing loss mitigation solutions for non-performing accounts.

✅ Handling inquiries and escalating complex situations to managers when needed.

✅ Analyzing data to provide insights and recommendations.

✅ Maintaining current knowledge of industry trends and practices.

✅ Supporting continuous improvement initiatives and maintaining confidentiality.

ASSUMPTION: It is assumed that maintaining strong communication and analytical skills are critical for success in this role, given the responsibilities related to customer interactions and problem resolution.

🎯 Required Qualifications

Education: Post-secondary degree in a related field or equivalent experience.

Experience: 2-3 years of relevant experience.

Required Skills:

• Customer Service
• Collections Knowledge
• Communication Skills
• Analytical and Problem Solving
• Organizational Abilities
• Collaboration and Teamwork

Preferred Skills:

• Knowledge of Consumer Collections Laws
• Familiarity with BMO products and services

ASSUMPTION: Given the nature of the work, technical expertise in collections processes and familiarity with financial regulations is presumed advantageous.

💰 Compensation & Benefits

Salary Range: $37,500.00 - $69,500.00 (Salaried with potential commission)

Benefits:

• Health Insurance
• Tuition Reimbursement
• Accident and Life Insurance
• Retirement Savings Plans

Working Hours: 40 hours per week with flexible remote options

ASSUMPTION: The specified salary range likely reflects varying experience levels and the chance for commission indicates potential earnings growth for high performers.

📌 Applicant Insights

🔍 Company Context

Industry: Financial Services

Company Size: 56,981 employees, providing vast resources and opportunities for growth.

Founded: Not specified

Company Description:

• Dedicated to providing excellent banking experiences.
• Experienced in adapting to changing customer needs.
• Operates with a strong commitment to employee and customer satisfaction.

Company Specialties:

• Personal Banking
• Commercial Banking
• Wealth Management
• Capital Markets
• Asset Management

Company Website: bmo.com

ASSUMPTION: As a major institution, BMO seeks employees who are adaptable and customer-focused, aligning with their commitment to personalizing financial services.

📊 Role Analysis

Career Level: Intermediate with potential for advancement based on performance.

Reporting Structure: Reports to departmental managers and works closely with customer service teams.

Work Arrangement: Fully remote providing flexible work-life balance.

Growth Opportunities:

• Professional development through training and support.
• Networking opportunities across teams.
• Potential to grow into senior roles with proven success.

ASSUMPTION: BMO likely supports career advancement through structured development programs and performance incentives.

🌍 Location & Work Environment

Office Type: Virtual offices in a remote setup.

Office Location(s): Not applicable due to remote nature.

Geographic Context:

• Ontario's time zone will likely define working hours.
• Remote work may require regional client interaction.
• Ontario's consumer laws might influence regulatory practices.

Work Schedule: Standard business hours with flexibility depending on role requirements.

ASSUMPTION: Working remotely suggests the need for proficiency in digital tools and self-management to maintain productivity.

💼 Interview & Application Insights

Typical Process:

• Online application through BMO career portal.
• Initial phone screening.
• Virtual interview with HR and department heads.

Key Assessment Areas:

• Communication proficiency
• Problem-solving capabilities
• Knowledge of collections processes

Application Tips:

• Highlight relevant customer service and collections experience.
• Demonstrate adaptability and initiative in past roles.
• Research BMO's values and align your strengths with them.

ATS Keywords: Consumer Collections, Customer Service, Analytical Skills, Problem Solving, Financial Services

ASSUMPTION: BMO employs a digital application process requiring candidates to focus on keywords and succinct experience descriptions to move past ATS filters.

🛠️ Tools & Technologies

• CRM software for customer management.
• Financial collections and analytics tools.
• Remote communication platforms like Zoom or Microsoft Teams.

ASSUMPTION: Given the remote setting, proficiency with online collaboration tools and digital platforms is essential.

👔 Cultural Fit Considerations

Company Values:

• Customer focus and service excellence.
• Innovation and adaptability.
• Integrity and accountability.

Work Style:

• Self-motivated and independent work.
• Collaborative team interactions.
• Flexible adaptation to new challenges.

Self-Assessment Questions:

• Can I work effectively in a remote setting?
• Do I have a strong command of analytical tools?
• Am I able to uphold customer confidentiality?

ASSUMPTION: A candidate’s fit with BMO will hinge on their alignment with BMO’s core values and ability to work effectively within a digital environment.

⚠️ Potential Challenges

• Navigating complex collections scenarios.
• Maintaining productivity in a remote setting.
• Adhering to legal standards across jurisdictions.
• Balancing customer needs with company policies.

ASSUMPTION: The demanding nature of high-risk collections may present challenges in stress management and regulatory compliance.

📈 Similar Roles Comparison

• This role may involve more direct customer interaction than similar roles, emphasizing communication skills.
• Potential for higher incentives due to commission structure than purely salaried positions.
• Greater emphasis on loss mitigation strategies compared to general customer service roles.

ASSUMPTION: The specific focus on high-risk accounts differentiates this role from more general customer service roles in the industry.

📝 Sample Projects

• Developing customer rapport techniques to enhance collections success.
• Implementing a customer payment habit analysis project.
• Creating a regulatory compliance checklist for the collections department.

ASSUMPTION: Sample projects could involve customer engagement strategies and compliance tracking given the nature of collections work.

❓ Key Questions to Ask During Interview

• What are the specific challenges associated with high-risk collections at BMO?
• What tools and resources are provided to support remote work effectively?
• How does BMO measure success in this role?
• What career advancement opportunities are available within the customer services division?
• How does BMO ensure ongoing development and training for its employees?

ASSUMPTION: Candidates are likely to benefit from understanding team dynamics, success metrics, and professional growth prospects within BMO.

📌 Next Steps for Applicants

To apply for this position:

• Submit your application through this link.
• Prepare a resume tailored to emphasize your collections and customer service experience.
• Gather references who can vouch for your communication and problem-solving skills.
• Ready your professional network for potential references or endorsements on platforms like LinkedIn.
• Follow up with a connection request to the recruiter post-application submission.

⚠️ This job description contains AI-assisted information. Details should be verified directly with the employer before making decisions.