Recovery Specialist

Position Summary

Reporting to the Senior Manager, Default Management, the Recovery Specialist will manage the early, low‑risk stages of default to ensure that the portfolio is maintained, and all aspects of the collection process are completed in accordance with Standard Operating Procedures. The role will lead by example, fostering healthy and effective relationships within and outside the bank, and play a critical frontline role in the bank’s early‑stage default management strategy by identifying and resolving potential risks before they evolve into high‑risk delinquency or losses.

• Early Stage Delinquency Monitoring and Administrative Oversight
  • Monitor and manage a portfolio of low‑risk, early delinquent mortgage accounts, ensuring timely follow‑up and resolution to prevent escalation.
  • Identify and investigate early warning signs such as missed tax payments, lapsed insurance coverage, insolvency notices and second mortgage registrations, and take appropriate corrective action.
  • Communicate with clients through phone, email or written correspondence to clarify account issues and ensure accurate understanding of their obligations.
  • Document all interactions and account updates in MARS or other servicing systems with accuracy and timeliness to maintain a reliable audit trail.
  • Elevate accounts to senior team members or escalated for further review when signs of increasing risk are detected or when customer circumstances warrant additional assessment.
• Default Prevention Support and Special Projects
  • Participate in proactive risk management activities by handling ad hoc assignments such as obituary reviews, occupancy validations and preliminary property searches.
  • Assist with administrative tasks related to insurance tracking, title monitoring and property related documentation.
  • Work collaboratively to flag accounts that require senior recovery intervention.
  • Maintain working knowledge of default prevention procedures and contribute ideas for improving internal controls and workflows related to early‑stage collections.
• Customer and Stakeholder Support
  • Collaborate with internal departments such as Customer Experience, Portfolio Administration and Risk to ensure seamless client servicing and information sharing.
  • Initiate requests for third‑party reports (e.g., insurance verification, title review, tax status) to support case documentation and default monitoring.
  • Ensure prompt and professional communication with both clients and internal partners to support recovery outcomes and uphold the bank’s customer service standards.

Post‑secondary education in business, finance or a related discipline (college diploma or university degree) or equivalent experience.

• Minimum 1 year of experience in a collections, servicing or default support role within the financial services or mortgage industry.
• Familiarity with mortgage servicing terms, credit principles, and risk indicators such as insurance non‑compliance or insolvency.
• Proficiency in Microsoft Office Suite (especially Excel and Outlook) and ability to work across multiple systems such as MARS and Salesforce.
• Strong organizational skills and ability to multi‑task in a fast‑paced environment, balancing phone calls, emails and system updates with administrative responsibilities.
• Strong communication skills, both written and verbal, with a client‑focused and professional tone.
• Collaborative and responsive when working within a team or across departments.
• Problem‑solver who demonstrates initiative and takes ownership of their work.
• Bilingual (English/ French) is an asset.

• Highly organized and detail‑oriented, with strong time‑management skills and the ability to work independently on assigned portfolios.
• Comfortable managing a high volume of tasks and shifting priorities without sacrificing accuracy or follow‑through.
• Collaborative and responsive when working within a team or across departments.
• Problem‑solver who demonstrates initiative and takes ownership of their work.
• Bilingual (English/French) is an asset.

Hybrid work environment supported with a culture of flexibility, enabling both business and individual needs to be met.

Home Equity Bank is committed to an inclusive, equitable and accessible workplace.

Accommodations are available on request for candidates taking part in all aspects of the selection process.

Background check required.