Vice President, Receivables & Fraud Management

Why DUCA? 

We’re a vibrant, exciting credit union that lives its "profits with a purpose" philosophy in every financial transaction, product, interest rate, and community initiative we offer. Founded in 1954, DUCA has grown from a single branch credit union in Toronto to 19 branches across Southern Ontario with over 85,000 Members we are proud to serve.  

We exist to help People, Businesses and Communities Do More, Be More, and Achieve More™. 

DUCA (www.duca.com) is the fastest organically growing large Credit Union in Canada distinguished for the following: 

• Positive, un-big bank like service experience delivered through Member-facing staff in branch, on the phone (Member-Connect) and via our Mobile mortgage specialists, Wealth Management advisors and Commercial and Business Banking Account Managers. 
• Competitive rates.
• Personalized financial solutions, guidance, and service with the lowest possible fees for both Personal and Business Members.
• Profit sharing among Members.
• Multiple ways to bank—online, mobile app, phone/full-service Member Connect Contact Centre, and, of course, in-branch—DUCA is accessible 24/7 
• A community philosophy of “profits with a purpose” culminating in the creation of the DUCA Impact Lab (www.ducaimpactlab.com), a charitable foundation committed to helping the credit challenged and underbanked.  This led to DUCA's designation as a B-Corp certified organization, the first ever credit union to receive this global recognition.

A career with one of Canada’s fastest growing credit unions means you’ll find endless opportunities to make a difference with your unique abilities and perspectives. Our people live their purpose while helping others Do more, Be more and Achieve more with their money and their lives.  At DUCA, you’ll be part of a vibrant and collaborative team where you’ll be supported to excel and make an impact, no matter what role you play. 

Vice President, Receivables & Fraud Management

DUCA is looking for a Vice President, Receivables & Fraud Management to join our growing team! 

The VP, Receivables & Fraud Management is responsible for leading DUCA’s Retail Collections, Special Accounts, and Fraud Risk Management teams, ensuring alignment with DUCA’s purpose, culture, and strategic imperatives. The VP is responsible for developing and maintaining overall default resolution and fraud prevention and management strategies DUCA wide. This includes ensuring the internal skills, processes, and practices as well as external partnerships properly evolve with the size and complexity of the business. This role is accountable for effective leadership and results for the receivables and fraud management teams and provides oversight to DUCA’s subsidiaries as needed. The VP also supports the Chief Risk Officer (CRO) with in-depth understanding and expertise in risk ratings, loss provisioning, and broader portfolio risks.

The VP, Receivables & Fraud Management serves as a role model in operational planning and execution, troubleshooting and proactively mitigating for risks, and for demonstrating DUCA’s values across the organization. This role operates with a high degree of autonomy. This leader will collaboratively partner with key stakeholders to provide and collect applicable data and ensure DUCA’s receivables and fraud management strategy is delivering against the critical needs and expectations of the organization. 

Key Accountabilities & Duties

• Lead by example: consistently demonstrate DUCA’s values of “Bringing out the best in others”, “Doing what’s right even when it’s difficult”, and “Making what’s possible happen”
• Inspire, lead, coach, and develop a team of top talent creating a culture that fosters engagement, passion, and enthusiasm for the organization’s vision, mission, and values; ensure annual and long term direction is understood and objectives are met; create and implement effective short and long term team resourcing plans
• Provide strategic and directional support for organizational or department initiatives, including activities related to M&A due diligence and integration, jurisdiction or business line expansions, or subsidiary development.
• Maintain high standards of ethics and integrity; adhere to DUCA’s Code of Conduct and any associated legal, compliance, or information security requirements.
• Assume and delegate lending and approval authorities for documents and agreements to execute on behalf of DUCA and to protect DUCA security and reputation; provide input to relevant sections of the DUCA’s policies related to fraud, deferrals, defaults, and write-offs

Commercial Special Accounts and Watch List

• Lead, design, implement, and maintain a Commercial Special Accounts Management Framework, including related guidelines, procedures, and partnerships such as Law Firms, Receivers, Project Surveyors, Insurers, and other Financial Institutions in the case of syndicated loans
• Lead the team responsible for the development and execution of effective action plans to mitigate losses on commercial delinquencies, defaults, as well as overdue commercial maturities, and annual reviews
• Ensure DUCA is appropriately represented in commercial default legal matters (court appearances, cross-examinations, settlement, and mediation conferences, etc.) and insurance matters both through internal employees and external partners
• Evolve, enhance, identify and implement industry best practices to deliver accurate commercial watch list reporting
• Develop and oversee recommendations on specific files for the course of action that best mitigates DUCA’s risk; present and discuss the recommendations with the Management Credit Committee (MCC); Facilitate appropriate approvals and oversee recommendations that are actioned by the team as required
• Proactively report and discuss key watch list developments and notable risks with CRO on a regular basis and present to DUCA’s MCC and Allowance Committees monthly; provide valuable insights that inform strategic decisions, helping DUCA navigate the evolving risk landscape; proactively identify, monitor, and report on trends in the watch list or general market

Retail, Business Banking, and Specialized Lending Collections and Watchlist

• Lead, design, implement, and maintain a Collections Management Framework, including related guidelines, procedures, tools, and partnerships such as Law Firms, Collection Agencies, Bankruptcy and Insolvency Trustees, Bailiffs, Auction Houses, Insurers, and other Financial Institutions in the case of managed portfolios
• Lead the internal team and oversee external resources responsible for the development and execution of effective action plans to mitigate losses on retail, business banking and specialized lending delinquencies and defaults
• Ensure DUCA is appropriately represented in retail, business banking, and specialized lending default legal matters (court appearances, cross-examinations, settlement, and mediation conferences, etc.) and insurance matters both through internal employees and external partners
• Evolve, enhance, identify and implement industry best practices to deliver accurate retail, business banking, and specialized lending watch list reporting
• Proactively report and discuss key watch list developments and notable risks with CRO on a regular basis and present to DUCA’s MCC and Allowance Committee monthly; ensure applicable stakeholders are well-informed about emerging watchlist developments and risks and that all recommendations identified are actioned by the Collections Management team.  

Financial Modelling, Reporting, Loan Loss Provisioning, and support for Expected Credit Losses (ECLs)

• Ensure timely and accurate monthly submissions of the commercial and retail, business banking, and specialized lending delinquency reports to DUCA’s Finance Team; maintain close partnership with Finance on all loan loss provisioning modelling and discussions; support portfolio stress testing exercises
• Lead the reporting and responses to regulator and external auditor queries on DUCA loan deferral and loan delinquency data as needed
• Oversee the development of all recommendations for any specific allowances submitted to Finance
• Work with the CRO, the VP, Commercial and Retail Credit, and Finance to review expected credit losses and determine appropriate stage or overrides and adjustments; ensure accurate security and collateral coverage calculations
• Lead the collection of data and discussions related to relevant delinquency, collections, and loan restructuring aspects of Financial Services Regulatory Authority of Ontario examination audits, external audit year-end reviews, and monthly Management Credit Committee reports

Fraud Management

• Lead, design, implement, and maintain a Fraud Risk Management Framework, including policies, guidelines, procedures, and methodology for monitoring, assessing, and investigating fraud risks
• Enhance organization-wide fraud awareness and understanding through education and ongoing communications with all levels of leaders across DUCA; identify, initiate and oversee the implementation or improvement of fraud mitigation strategies/controls to reduce internal and external fraud exposure (as defined by DUCA’s Fraud Policy) organization-wide; ensure fraud mitigation strategies/controls are adhered to and act as the subject matter expert on fraud control improvements for all leaders including at the executive-level
• Oversee the mitigation of fraud losses, and/or preventing actions constituting fraud, across all departments; ensure all fraud alerts are addressed in a timely manner
• Ensure fraud events are properly investigated and remediated by DUCA’s fraud management team or external vendors; oversee insurance claims and the recovery of funds
• Proactively report and discuss key fraud developments and notable risks with CRO on a regular basis, enabling timely and informed organizational decisions; present to the Management Compliance and Operational Risk Committee (MCORC) monthly to ensure DUCA remains compliant with regulatory requirements and support the development of effective fraud risk mitigation strategies, reducing the likelihood and impact of fraud incidents

Occupational Experience & Education Requirements

• Undergraduate degree in Business, Finance, or a related field
• Post-graduate degree or other related designations are assets
• 10+ years’ credit risk-related experience in financial services
• 5+ years’ leading Special Account Management related experience
• 5+ years’ leading Collections related experience
• 5+ years’ leading Fraud Management related experience
• 10+ years’ people leadership experience

Knowledge, Skills & Attributes

• Expert knowledge of accounting standards and financial statements, including loan stress testing and loan loss provisioning under IFRS9 framework
• Experience and familiarity with mortgage and loan enforcement processes and documents (notice of sale, receiverships, settlement agreements, forbearance letters, etc.)
• Problem-solving skills and the ability to devise creative solutions in the face of a very fast-paced and dynamic working environment
• Proven analytical, strategic, and conceptual thinking and execution skills
• Able to work under pressure of time deadlines, be flexible, and able to shift resources and priorities as required
• A confident, proactive, self-starter who is skilled in taking initiative, assessing requirements, devising plans and taking the lead in making plans a reality
• Demonstrated excellence in work prioritization, time management, and judgment
• Highly effective at driving and leading conversations and resolving issues with internal/external stakeholders and executive-level leaders
• Strategic thinker with solid business acumen who sees the big picture and can provide proactive counsel to executive and senior leaders
• Strong leadership, interpersonal, and collaboration skills with the ability to build relationships and influence individuals at all levels within the organization
• Demonstrated ability to coach and engage a high performing team
• Demonstrated ability to exercise judgment related to risk and uncertainty while making decisions with incomplete information
• Experience with leading or supporting organization wide initiatives such as M&A activities and jurisdiction or business line expansions
• Excellent written and verbal communication skills, including demonstrated experience with executive-level reporting
• Advanced MS Office skills, especially Excel, and comfortable with technology and software
• High level of integrity, ethics and professionalism; proven ability to maintain sensitive and highly confidential information

Working Conditions

Normal office environment with the potential for longer hours given certain demands of the job.

Primary Location: Corporate Office - 5255 Yonge Street, North York, M2N 6P4

Employment Status: Full-Time

Hours per Week: 38

Number of Vacancies: 1

DUCA is committed to employment equity and encourages applications from all qualified candidates. Recruitment related accommodations will be provided upon request.

Qualified applicants are encouraged to submit their application. Applications must include a resume.

We thank all applicants but only those considered for an interview will be contacted.