Sr. Manager Collections & Loss Mitigation

What is the Opportunity?

Mortgage Servicing and Loan Operations supports retail deposits, HELOC post-closing servicing, Real Estate Insurance, Mortgage post-closing servicing, default operations, and related internal controls and procedures. Senior managers have supplier management responsibilities and are accountable to drive optimization and efficiencies within their teams. They also act as subject matter experts to support transformation projects and assist in the resolution of customer complaints to create an optimal client experience.

This role is accountable for loss mitigation and default management of the RBC Bank portfolio. Overall responsibility for business‑as‑usual operations, always seeking optimization opportunities to improve team performance and the client experience. Works with internal partners and external vendors to on‑board new services and fulfilment strategies for all products and services. This role will act as the supplier manager for RBC Collections, mortgage service provider collections, 3rd party agency collections and a property management company.

• Responsible for oversight of the RBC Bank third party loan servicing relationships for loan products. Evaluates performance against key measures such as penetration rate, promise made, promises kept, and agent utilization.
• Ensures Supplier Management routines are practiced such as monthly/quarterly business reviews. Also ensures gaps in performance are appropriately documented and action plans are in place to monitor resolution.
• Ensures monitoring results are captured and exceptions/action plans as created as required to address deficiencies.
• Monitors and reports delinquency across all products throughout the month and ensures appropriate actions are taken to collect and cure accounts timely.
• Reviews and maintains monthly default reporting for presentation to the Risk Management and Finance teams.
• Responsible for remarketing (OREO & Repossessions) preparing the property for resale including eviction, negotiating fair market price, setting RBC Bank’s bid, and then settling the sale with accurate charge off/write downs and system closure.
• Ensure accounts accurately move in and out of accrual statuses.
• Ensure appraisals are ordered timely to assess property value and facilitate write downs within policy time frames.
• Ensure Credit Card and PLOCs accounts are written off within policy time frames.
• Responsible for the posting of recovery payments on Credit Cards and Personal Lines of Credit (PLOCs).
• Review reporting relating to Bank Complaints originating from collections and related to collection activity. Provide input to monthly Complaints reporting.
• Responsible for review, investigation and response to Direct and Indirect Credit Bureau disputes.
• Provides support to various audits (Internal, Compliance, FDCIA). Manage, monitor and carry out requirements to close Issues related to audit findings or self‑identified issues.

• Work with our third party vendors to accurately execute customer instructions to participate in loss mitigation programs.
• Work directly with clients to establish re‑payment, restructure arrangements and cure options.
• Review related reporting for accuracy and share with the appropriate portfolio management groups to adequately assess impact to the Bank’s loss plan, and financial reporting.
• Responsible for oversight to hardship situations coordinating debt restructure approvals.
• Responsible for review and oversight of loss mitigation programs used by RBC Bank teams and with inter‑group vendors.

This role demands a leader’s mindset to imagine and inspire new ways of collecting bad debt to improve work performance, NIE, and/or the client experience.

• Lead or actively participate in small to medium sized improvement initiatives from scoping and requirements stages to implementation and post validation.
• Sets and shares strategic vision for collections and loss mitigation. Ensure processes are appropriately aligned and the Bank’s strategies to mitigate losses.
• Assess capabilities of existing & potential vendors to drive…