Senior Default Specialist

La Banque HomeEquity

Banque canadienne à charte de l’annexe I, la Banque HomeEquity est le plus important fournisseur d’hypothèques inversées au pays et son portefeuille de prêts est en croissance. Étant la seule institution financière à se consacrer uniquement aux propriétaires de 55 ans et plus, la Banque HomeEquity a à cœur d’aider les propriétaires canadiens à vivre leur retraite comme ils le souhaitent. Nous tenons cette promesse tous les jours grâce à nos solutions d’hypothèque inversée, dont notre produit phare, l’Hypothèque inversée CHIP^MC.

Nos valeurs, notre passion

À la Banque HomeEquity, ce sont nos valeurs qui orientent et inspirent nos actions auprès de nos clients, de nos partenaires et entre nous.

Nous sommes d’ardents défenseurs au service de nos clients.

Nous avons le courage d’agir et de faire ce qui est juste.

Nous formons une équipe, nous avons une même vision.

Nous voyons loin et nous sommes en constante évolution.

POSITION SUMMARY

Reporting to the Manager, Default management, this role will play a critical role in managing accounts through the default and foreclosure process. The role involves close collaboration with the bank’s default lawyers and property managers to navigate all aspects of legal actions and foreclosure stages effectively. The (Senior) Default Specialist will be responsible for mitigating financial loss and reputational risks.

MAJOR ELEMENTS OF THE ROLE

Key Responsibilities:

Operational Management:

• Manage mortgage accounts in default and foreclosure stages, ensuring timely and efficient processing of all related activities.
• Monitor and review default accounts by providing regular updates and reports on status progress.
• Effectively manage the default portfolio to mitigate both financial loss and reputational risk by implementing strategic measures to minimize losses through proactive oversight and vendor management ensuring that all foreclosure activities align with the company’s standards and regulatory requirements.  
• Recommend appropriate enforcement action to management.

Legal and foreclosure Coordination:

• Work closely with default lawyers to handle legal proceedings, including the initiation and management of foreclosure actions. Ensure all legal documentation and requirements ae met accurately and promptly.
• Collaborate with property managers and real estate managers to oversee property
• related tasks during foreclosure progress including property inspections, maintenance and securement activities.  
• Review appraisals, Comparative Market Analysis (CMA) reports to assess listings and offers.
• Provide clear instructions to lawyers and property managers.

Documentation and Compliance:

• Maintain accurate records by keeping clients’ accounts up to date by managing and saving all necessary documentation related to the account.
• Monitor compliance with relevant laws and regulations, including mortgage servicing standards, foreclosure laws and internal policies.

SKILLS AND EXPERIENCE REQUIRED

Qualifications and Attributes

• Bachelor’s degree in finance, Law or related field (or equivalent experience)
• 3-5 years of experience in default management, foreclosure, or a legal-related role within banking or real – estate sectors.
• Strong understanding of foreclosure laws, legal procedures and regulatory requirements in Canada.
• Excellent communication and interpersonal skills with the ability to liaise effectively with default lawyers, property managers and other stakeholders.
• Strong analytical skills and attention to detail, thorough, accurate, and organized.
• Strong problem-solving skills with the ability to handle complex default and foreclosure cases and develop effective solutions.
• Strong computer skills, MS Office and ability to adapt to and understand CRM platforms (salesforce etc)
• Bilingual skills (English and French) are an asset.
• Relevant certifications in mortgage servicing or foreclosure management are an asset.

Working Conditions Unique to Job

• Hybrid - 3 days a week in office