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Manager, National Asset and Recovery

Locations

Showing 1 location

Toronto Corporate Office
Etobicoke, ON M8X 2X3, CAN

- Hybrid
- Travel Required : No
- Salary Range : $68,800 CAD to $103,200 CAD
- Risk
- Full-Time
- Requisition #: MANAG007867

Description

Who we are

Meridian OneCap Credit Corp is an equipment and finance company providing a broad range of financial services to businesses throughout Canada. Our parent, Meridian Credit Union, has over 70 years of banking history and is Ontario’s largest credit union.
Meridian OneCap is a provider of asset financing in the form of capital leases. We are committed to being the best provider of specialized equipment financing services to strategic vendors across Canada. Our service-oriented culture and exceptional group of professionals serves to provide our strategic partners with value-added service and constructive solutions.
Meridian OneCap Credit Corp provides customized leasing solutions both to help companies sell equipment and to companies that have chosen to lease equipment, rather than buy. For manufacturers and vendors, we enable you to provide your customers with a value-added service that helps your customers acquire equipment efficiently and gives your company a competitive edge. And for the end user, we can help you to preserve working capital in your business, while benefiting now from the use of the equipment.

Our team is known as industry leaders.



We’ve earned our reputation through consistent delivery of financing programs with the most productive transaction process and superior customer service. With the largest direct sales force within the Canadian market, it’s no wonder our customer service is unparalleled.

The incumbent is responsible for maximizing recoveries and minimizing losses related to the recovery and remarketing of repossessed assets.

- Loss Recovery: Responsible for generating recovery dollars on written off accounts working with Bailiffs, Remarketers, Lawyers and Trustees
- Inventory Management: Maximize recoveries from sale of inventoried assets that originate from repossessions and end of lease returns. Manage relationships with third‑party vendors, remarketing partners, and auction houses to ensure maximum recovery values.

Originations

- Establish fair market value residual matrices for specific asset classes and vendor Within this, define the renewal strategy and set residual realization targets met for the unguaranteed programs.
- Support Sales and Credit by providing one‑off asset valuations to facilitate credit underwriting

End of Lease

- Work with customers on the return of assets at the end of the lease as Issue return authorizations with the view to minimizing losses on off‑lease assets and maximizing our returns.




- Collaborate with Customer Service, Collections and Accounting on the disposition of end of lease contracts and the generation of end of lease income.

Account Management:

- Work with Collections and Sales to determine appropriate remarketing channels for assets coming into.
- Work with law firms, Bankruptcy trustees to assist recover $.
- Ensure the timely sales of repossessed and off‑lease.
- Maximize income and minimize expense associated with the sale of repossessed and off‑lease.
- Verify and validate inventory values attached to repossessed assets on written off.
- Provide asset valuations on repossessed assets to aid Collections in establishing appropriate specific reserves on high balance assets (>$50k Net Investment).
- Provide expert judgment and advice to the Collections team to aid in recovery strategies for non‑performing.
- Review and approve condition reports for assets to ensure readiness for liquidation.
- Collaborate with the marketing team to create targeted campaigns to promote remarketed assets through various channels.
- Responsible for KPI like recovery rate, inventory aging, recovery dollars collected.
- Solid grasp of the loss mitigation, remarketing and legal process from start to finish is a plus.
- Identify remarketing, law firm and bailiff partners; negotiate terms of engagement (commission, costs, SLAs).
- Maintain Service provider list and add/remove partners as
- Ensure partners meet compliance, regulatory and insurance criteria as mandated by the Credit Union.

Knowledge, Skills, and Experience:

- Minimum ten (8-10) years’ experience in Asset Management, Collecti

📌 Manager, National Asset and Recovery (Canada)
🏢 Meridian OneCap Credit
📍 Canada