Specialist, Workout

About the Role

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.

Hybrid work schedule: in‑office Wednesdays and Thursdays, with an option to work from home the remainder of the week. Work schedules and office reporting requirements may change from time to time based on business needs.

• Oversee late‑stage collection activities to keep portfolio within acceptable limits and maintain superior customer/dealer service.
• Manage day‑to‑day activities for distressed accounts, including financial statement analysis, complex negotiations, debt restructuring, exit strategies, and legal documentation.
• Maintain ongoing contact with customers via outbound calls, emails, and letters to reduce delinquencies.
• Minimize losses and secure equipment, including repossession.
• Conduct in‑depth skip tracing to locate customers, using all available tools to rectify defaults.
• Perform account reconciliations ensuring proper cash application and resolving unapplied cash.
• Review financial statements and DNB credit reports; analyze data and recommend actions.
• Identify distressed customers requiring accelerated action.
• Monitor and report on portfolio management, including policy exceptions.
• Execute special projects as assigned.
• Work closely with management to minimize loss through recovery tools.
• Interact frequently with management, credit managers, dealers, and customers.
• Collaborate with other business units for consistent policy application and process improvement.

• Bachelor’s degree in a related field or equivalent relevant work experience.
• Minimum of 3–5 years experience in workout, advanced collections, or a similar function.
• Strong experience in financial services, including installment loans and/or lease contracts.
• Proven experience in settlement negotiation.
• Prior leasing experience is a plus.
• Salary range: $54,460 – $81,550 annually.

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.