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About the Role

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

Responsibilities

Generate recovery dollars on written off accounts by working with Bailiffs, Remarketers, Lawyers and Trustees.
Maximize recoveries from the sale of inventoried assets originating from repossessions and end of lease returns.
Manage relationships with third-party vendors, remarketing partners, and auction houses to ensure maximum recovery values.
Establish fair market value residual matrices for specific asset classes and vendors.
Define renewal strategy and set residual realization targets for unguaranteed programs.
Support Sales and Credit by providing one-off asset valuations to facilitate credit underwriting.
Work with customers on the return of assets at the end of the lease.
Issue return authorizations to minimize losses on off-lease assets and maximize returns.
Collaborate with Customer Service, Collections, and Accounting on the disposition of end of lease contracts and the generation of end of lease income.
Work with Collections and Sales to determine appropriate remarketing channels for assets.
Work with law firms and Bankruptcy trustees to assist in recovering funds.
Ensure the timely sales of repossessed and off-lease assets.
Maximize income and minimize expenses associated with the sale of repossessed and off-lease assets.
Verify and validate inventory values for repossessed assets on written-off accounts.
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 accounts.
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 KPIs such as recovery rate, inventory aging, and recovery dollars collected.
Identify remarketing, law firm, and bailiff partners; negotiate terms of engagement (commission, costs, SLAs).
Maintain a Service provider list and add/remove partners as needed.
Ensure partners meet compliance, regulatory, and insurance criteria as mandated by the Credit Union.

Requirements

Minimum ten (8-10) years of experience in Asset Management, Collections, Loss Recovery, and Finance and Banking Industry.
Strong grasp of the leasing industry.
Full understanding of legal and regulatory rules governing account collection, asset disposal/remarketing, and deficiency collections.
Full understanding of security documentation and legal rights.
Highly developed problem-solving and negotiating skills.
Experience with Microsoft operating systems including Word, Excel, Outlook, and the Internet.
Embedding & leveraging technology – Confidence and willingness to learn and integrate AI and emerging technologies into new ways of working.
Critical Thinking – The ability to analyze, evaluate and interpret information from various sources and apply logic and problem solving to make decisions.
Data Driven– Leverage data and insights to identify, prioritize and improve member experience and business efficiency.
Curiosity & Flexibility – Comfortable navigating and embracing change and uncertainty, ask more questions, explore more options. Continuously learn and grow.

Skills

Bilingual Skills (Fluency in both English and French) considered an asset.
Experience with low/no code tools like the Microsoft Power Platform and generative AI productivity tools like Microsoft Copilot is considered an asset.

Location

Toronto Corporate Office

Work Type

Hybrid

Experience Level

8-10 years

Education Level

Completion of a post-secondary education program in finance would be an asset

Salary/Compensations

CAD $68,800.00 to $103,200.00

Benefits

Inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!
Opportunity to work with and learn from diverse industry leaders.
Hybrid work arrangements with in-person office time to collaborate, innovate and build relationships with colleagues.

About the Company

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.
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 efficient 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.
At Meridian, we’re not just adapting to the future—we’re shaping it.
We see talent as a catalyst for sustainable growth, community impact, and future-readiness.
As the financial landscape evolves, we’re looking for team members who bring embedding & leveraging technology, critical thinking, data driven insights, and curiosity & flexibility.

Equal Opportunity

At Meridian, belonging starts with people. We are committed to creating an inclusive and accessible workplace where everyone feels valued, respected, supported, and empowered to bring their authentic selves to work.
We believe that diverse backgrounds, identities, abilities, sexual orientation, experiences, and perspectives make us stronger and help us better serve our Members, communities, and one another.
We are committed to an accessible recruitment experience and will provide accommodation information to candidates selected for an interview.