Specialist, Workout

About the role

The Collections Workout Specialist (Specialist, Workout) role at Canon Financial Services, Inc. (CFS) 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. This position offers a hybrid work schedule requiring you to be in the office Wednesdays and Thursdays and an option to work from home the remainder of the week (unless a specific business need arises requiring in-office attendance on other days).

Responsibilities

• Oversee late-stage collection activities, ensuring the portfolio performs within acceptable limits and providing superior customer/dealer service.
• Manage all aspects of distressed accounts, including analyzing financial statements, conducting complex negotiations, restructuring debt, developing exit strategies, and coordinating legal documentation.
• Maintain consistent ongoing contact with customers through outbound calls, emails, and letters to reduce and/or eliminate delinquencies.
• Minimize losses and secure assets in the field, including repossession of equipment.
• Perform in-depth skip tracing to locate and/or contact customers, utilizing all available tools to rectify defaults and cure delinquency within company policy and assigned authorities.
• Review and analyze basic financial statements and DNB credit reports, making recommendations to management for the best course of action to assist customers.
• Monitor and report on portfolio management, including recommendations and preparation of documents to support exceptions to the standard charge-off policy.
• Work closely with management on minimizing loss through application of various recovery tools.
• Interact frequently with management, credit managers, dealers, and customers.
• Collaborate with other business units to ensure consistent application of policy and process while continually striving to improve results through better coordination across functional work groups.

Requirements

The minimum qualifications for this role include a bachelor’s degree in a related field or equivalent relevant work experience, with a minimum of 3–5 years of experience in workout, advanced collections, or a similar function. Strong experience in financial services, including installment loans and/or lease contracts, is required. Proven experience in settlement negotiation is also required.

Qualifications

No specific qualifications are listed beyond the general experience and education requirements.

Skills

• Bachelor’s degree in a related field or equivalent relevant work experience.
• Minimum of 3–5 years of experience in workout, advanced collections, or a similar function.
• Strong experience in financial services, including installment loans and/or lease contracts.
• Prior leasing experience is a plus.

Benefits

Canon Financial Services offers a competitive compensation package including medical, dental, vision, 401(k) Savings Plan, discretionary profit sharing, discretionary success sharing, educational assistance, recognition programs, vacation, and much more.

Pay

The anticipated salary range for this role is $54,460 - $81,550 annually.

Schedule

This position offers a hybrid work schedule requiring you to be in the office Wednesdays and Thursdays and an option to work from home the remainder of the week (unless a specific business need arises requiring in-office attendance on other days).