Who we are:
Fairstone Bank and its family of brands are united in delivering innovative, accessible and reliable financial solutions that enable Canadians to reach their goals. Over the years, our brand family has grown. In 2024, Home Trust Company, Home Bank and Oaken Financial became part of the Fairstone Bank family of brands, alongside Fairstone, Eden Park and Fig.
Together, we are the leading alternative lending bank in Canada. We have the collective experience and expertise to better serve our customers and foster our partners’ growth. With a diverse suite of products—residential and commercial mortgages, consumer deposits and GICs, credit cards, retail and automobile financing, personal loans and digital lending—we offer financial solutions tailored to all Canadians, including newcomers, small-business owners, smart investors and savvy consumers.
Backed by nearly a century of lending experience through its legacy companies, Fairstone Bank and its brand family are proud to be Canada’s leading alternative lending bank.
Home Trust: Home Trust Company has developed a track record of success as Canada’s leading alternative lender, employing nearly 800 people in our Toronto headquarters and branches across the country. Building on the demonstrated strength of its core residential mortgage lending business, the Company also offers complementary lending services, as well as highly competitive deposit investment products, through Oaken Financial. Our culture has been shaped by the passion and integrity of our people.
Join Home Trust as a Senior Manager, Default Recovery, reporting to VP Default Recovery & Accounts Receivable, and be part of our talented and growing team!
About the role:
Senior Manager, Default Recovery is an expert in mortgage enforcement and leads the end-to-end recovery strategy for delinquent and non-performing residential and small commercial nationwide mortgage portfolio. This role is responsible for maximizing recoveries, reducing losses, and ensuring all recovery activities comply with regulatory and internal policies. The position oversees internal teams of the end-to-end recovery process, including legal enforcement, asset disposal and portfolio management and external partners while driving data-informed decisions and continuous process improvements.
RESPONSIBILITIES
Management & Leadership
Developing and implementing recovery strategies, and providing reporting to senior leadership
Oversee external partners such as solicitors, property managers, real estate agents, and appraisers, related costs and SLA’s as applicable
Lead, coach and manage recovery teams to achieve performance targets
Oversee the instructing solicitors and managing legal remedies according to provincial laws
Executing strategies for the sale of security(property) and recovery of debt against personal covenants
Manage litigation, bankruptcy and settlement processes where applicable
Champion technical and process enhancements, working with key stakeholders both internal and external
Promote a culture of compliance, accountability, and customer-centric recovery
Risk & Compliance
Acts in accordance with Fairstone Bank’s core values, Code of Conduct & all internal policies & standards
Engages in the highest standard of business conduct and ethics
Ensure and incorporate regulatory & Compliance requirements into existing business processes & activities
Identifies opportunities to mitigate potential risk and to strengthen compliance activities for Fairstone Bank and it’s stakeholders, in daily operational activities
Collaborate with risk, legal, finance and Operations to align recovery strategies with business objectives
Reporting & Assessment
Monitor portfolio performance, analyze recovery trends, and implement optimization initiatives
Meet or exceed monthly, quarterly and yearly target for cured files and loss reduction
Prepare and deliver performance reports to senior leadership to display results for impaired loans, including provisions, forecasts, trends, early warning indicators and KPI/KRI’s
What we’re looking for:
University degree in finance, Business Administration, Economics or a related field of business or discipline
Additional relevant accreditation(s), certification(s) are a strong asset
8 -12 years of experience in Residential and Commercial Mortgage lending, collections, recovery, credit risk or related financial services roles
Proven leadership experience managing teams and external vendors
Strong understanding of debt recovery regulations, legal processes and compliance requirements
High level of expertise in Mortgage Administration and Servicing
Demonstrated ability to use data and analytics to drive decision making
Experience with recovery systems, collection platforms and performance metrics
Strategic thinking and problem-solving
Strong leadership and team development skills
Excellent communication and stakeholder management
High attention to detail and risk awareness
Well-developed negotiation, influencing skills
Ability to prioritize and quickly adhere to market trends and other changes that impact valuations and potential loss exposure
What you’ll love about working here:
Award-Winning Culture: We’re proud to be recognized as a Great Place to Work Canada 2025 and one of Montreal’s Top Employers 2025 by Canada’s Top 100 Employers.
Work-Life Balance: Enjoy flexibility with our hybrid work model designed to support your lifestyle.
Time to Recharge: Generous vacation based on your role, statutory holidays, plus 6 wellness days to prioritize your well-being.
Compensation Package: Competitive base salary plus an annual incentive bonus tied to performance.
Comprehensive Benefits: Robust health and dental coverage through Manulife, as well as virtual healthcare through Dialogue.
Future-Ready Savings: Group Retirement Savings Plan with up to 7% employer match.
Exclusive Perks: Discounts from top retailers via WorkPerks, plus location-based perks like gym memberships and Toronto Bike Share.
On-Site Fitness: Gym access at our London and Montreal offices.
Continuous Growth: Education Assistance Program and Fairstone Academy for training and skill development.
Family Support: Parental leave top-up program to help you during life’s big moments.
Community Impact: One paid volunteer day to give back to causes that matter to you.
What you can expect - pay & process:
Expected base salary range is $100,000 - $120,000 per year, plus the opportunity to earn an annual incentive bonus tied to performance.
This posting is for an existing vacancy within our organization.
Artificial intelligence may be used in parts of the recruitment process.
All candidates considered for hire must successfully pass a criminal background check, credit check, and validation of their work experience to qualify for hire.
If what you read excites you, we’d like to hear from you! Please submit your application and we’ll contact you if you become selected for first stages of the interview process.
If you have a preferred language for communication, please kindly inform us whether you prefer French or English on your application.
Fairstone is an equal opportunity employer. Accordingly, we will make reasonable accommodations to respond to the needs of people with disabilities. Individuals who view themselves as Aboriginals, members of visible minorities, and disabled are encouraged to apply in confidence.
Time Type:
Full time
Permanent
