About the Role

The Default Recovery Specialist is responsible for mitigating and eliminating financial losses arising from delinquent or unpaid balances on mortgage products. Operates independently, prioritizes work, and manages a portfolio of impaired accounts nationwide, following company policies and procedures.

Responsibilities

- Delinquency/Impairment Resolution and Loss Mitigation - Conduct in‑depth assessments of customers, property title, and security to mitigate losses and oversee legal enforcement activities, including working with solicitors, property managers, and real estate agents.
- Customer and Business Partner Experience - Provide clear, concise information to clients and third parties, maintain respect in all interactions, and oversee loan‑level responsibilities for all business partners.
- Operational Effectiveness - Deliver recommendations for workout solutions and marketing proposals, achieve cure targets on files, and ensure accurate documentation.
- Risk and Compliance - Maintain a portfolio with minimal arrears, support audits, and embed regulatory requirements in day‑to‑day processes.

Qualifications

- University preferred but not required.
- Minimum 4 years senior mortgage collection or related legal administrative/paralegal experience.
- Minimum 2 years working knowledge of mortgage remedy law in Ontario (preferably across Canada).

Advantages





- Award‑Winning Culture – Recognized as a Great Place to Work Canada 2025 and a Top Employer.
- Work‑Life Balance – Hybrid work model to support lifestyle.
- Time to Recharge – Generous vacation, statutory holidays, and 6 wellness days.
- Compensation Package – Competitive base salary plus an annual incentive bonus tied to performance.
- Comprehensive Benefits – Health and dental coverage through Manulife and virtual healthcare via Dialogue.
- Future‑Ready Savings – Group Retirement Savings Plan with up to 7% employer match.
- Exclusive Perks – Discounts from top retailers via WorkPerks and location‑based perks such as gym memberships and bike share.
- On‑Site Fitness – Gym access at London and Montreal offices.
- Continuous Growth – Education Assistance Program and Fairstone Academy training.
- Family Support – Parental leave top‑up program.
- Community Impact – Paid volunteer day.

Compensation

Expected base salary range is $55,000.00 - $70,000.00 per year, with the opportunity to earn an annual incentive bonus tied to performance.

Employment Details

Time Type: Full time|Job Type: Permanent

EEO Statement

Fairstone is an equal‑opportunity employer. Accordingly, we will make reasonable accommodations to respond to the needs of people with disabilities. Individuals who identify as Aboriginals, members of visible minorities, or who are disabled are encouraged to apply with confidence.

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📌 Default Recovery Specialist (Toronto)
🏢 Fairstone Financial
📍 Toronto