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.

What will you do?

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.

Loss Mitigation & Default Management: Primarily Responsible for the overall oversight of collections services and fulfillment strategy of defaulted accounts, including partnership with Internal and External Vendors.

• 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 timeframes. 

• Ensure Credit Card and PLOCs accounts are written off within policy timeframes.

• 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.

Client Treatment Plans & Hardship: Responsible for the monitoring and oversight of client treatment plans across all lending products including Mortgages, Home Equity Lines of Credit (HELOC), Personal Lines of Credit (PLOC) and Credit Cards.

• 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.

Optimization & Efficiency: 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 optimization and improvements.

Team Leadership:  Manage, coach, and lead direct reports and provide support clients and partners.  

• Contribute to the overall Mortgage Servicing and Loan Operations team by actively leading activities and mentoring other employees. 

• Sets the tone with team members on the importance of controls, and ensures all controls are accurately executed to mitigate operations risk and negative customer impact.

• Act as a delegate of the Director of Mortgage Servicing & Loan Operations in various business meetings.

What do you need to succeed?

Must-have:

• 10+ years banking experience

• Leader’s mindset for vision and strategy development

• Experienced people manager

• College Bachelor’s Degree or Higher or Banking experience equivalent

• Expertise in regulatory requirements related to Insurance, loans, and mortgage.

• Good presentation skills to large audiences

• Strong communication and interpersonal skills

• Comfortable with reviewing performance analytics

• Strong people management skills ability

• Ability to achieve results through business partners

• Strategic thinking and creative passion

• Attention to detail

• Good organization and prioritization skills

• Relationship/influence with senior leaders,

• Comfortable with leading in ambiguity

• Strong decision making

• Self-driven mindset for self-development

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable

• Leaders who support your development through coaching and managing opportunities

• Ability to make a difference and lasting impact

• Work in a dynamic, collaborative, progressive, and high-performing team

• Opportunities to do challenging work

• Opportunities to build close relationships with clients

#LI-Post

#TECHPJ

Job Skills

Banking Operations, Debt, Foreclosures, Management Reporting, Mortgages, Payment Handling, People Management

Additional Job Details

8081 ARCO CORPORATE DRIVE:RALEIGHRaleighUnited States of America40Full timeGROUP RISK MANAGEMENTRegularSalaried2025-11-142025-11-21

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.