Specialist, Workout

Specialist, Workout

Location: US-NJ-Burlington

Company: Canon Financial Services

Canon Financial Services, Inc. (CFS) is a dynamic and forward-thinking organization committed to building meaningful partnerships and delivering innovative financial solutions. We take pride in driving exceptional customer experiences while upholding the highest standards of operational excellence, integrity, and inclusion.

CFS is currently seeking a Collections Workout Specialist (Specialist, Workout). This role is responsible for initiating collection activities for contracts that are more than 90 days delinquent, as well as distressed or defaulted accounts identified and assigned by management.

This position offers a hybrid work schedule requiring you to be in the office Wednesdays and Thursdays and an option to work from home the remainder of the week (unless a specific business need arises requiring in‑office attendance on other days). Note that work schedules and office reporting requirements may change from time to time based on business needs.

• Responsible for overseeing late-stage collection activities, including ensuring the portfolio performs within acceptable limits and that the business provides superior customer/dealer service
• Manage all aspects of the day‑to‑day activities of the distressed accounts, may include analyzing financial statements, conducting complex negotiations with various stakeholders, restructuring debt, developing exit strategies and coordinating legal documentation
• Expected to maintain consistent ongoing contact with customers by placing outbound phone calls, emails and/or letters to reduce and/or eliminate delinquencies
• Minimizes losses and secure machines in field, including repossession of equipment
• Perform in‑depth skip tracing to locate and/or contact customer. Utilize all available tools to rectify defaults and cure delinquency within company policy and assigned authorities
• Perform account reconciliations to ensure proper cash application on delinquent accounts in addition to resolution of unapplied cash in timely fashion
• Review and analyze basic financial statements and DNB credit reports. Ability to analyze data and make recommendations to management for best course of action to assist customer
• Identify distressed customers where accelerated activity is required by CFS to secure our financial interest in the asset
• Monitor and report on portfolio management, including recommendations and preparation of documents to support exceptions to the standard charge‑off policy
• Special projects as assigned
• Works closely with management on how to minimize loss through application of various recovery tools
• Interact frequently with management, credit managers, dealers and customers
• Collaborate with other business units to ensure consistent application of policy and process while continually striving to improve results through better coordination across functional work groups

• Bachelor's degree in a related field or equivalent relevant work experience required.
• Minimum of 3‑5 years of experience in workout, advanced collections, or a similar function.
• Strong experience in financial services, including installment loans and/or lease contracts, is required.
• Proven experience in settlement negotiation is required.
• Prior leasing experience is a plus.
• We are providing the anticipated salary range for this role: $54,460 - $81,550 annually.

• Salary range: $54,460 - $81,550 annually.
• Benefits include medical, dental, vision, 401(k) Savings Plan, discretionary profit sharing, discretionary success sharing, educational assistance, recognition programs, vacation, and more.

Hybrid schedule: office Wednesdays and Thursdays (or as updated to Wed and Thu). Option to work from home remainder of week unless business needs.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.