Director, Collections

Build something people love Wealthsimple is Canada’s leading financial innovator. The company offers a full suite of simple, sophisticated financial products across managed investing, do-it-yourself trading, cryptocurrency, tax filing, spending and saving. Wealthsimple currently serves more than 4 million Canadians and holds over $125 billion in assets under administration. The company was founded in 2014 by a team of financial experts and technology entrepreneurs, and is headquartered in Toronto, Canada. We're proud of what we've built — and we're just getting started. Read our Culture Manual and learn more about how we work . Wealthsimple is building its lending business. Credit cards are scaling, personal lines of credit and margin lending are expanding, and with that growth comes a collections function that needs to be built with the same rigor and ambition we bring to everything else. This role exists because collections is no longer a back-office afterthought. It's a high-stakes, client-facing operation that directly impacts credit losses, client trust, and regulatory standing. As Director of Collections Operations, you'll own the entire collections lifecycle, from pre-delinquency interventions through early-stage outreach, escalating treatment strategies, charge-off, and post-charge-off recovery. You'll lead a team of collections and recovery agents to execute the strategy across lending products, define the rules and controls that govern how we recover balances, meet operational and collections key metrics/KPIs and ensure every interaction reflects the Wealthsimple brand. You'll also be the operational voice helping to shape our AI-powered collections strategy, to help build intelligent, empathetic outreach that recovers balances at scale without damaging client relationships. This role reports to the VP, Client Experience Operations and partners closely with Data Science, Credit Risk, Finance, Compliance, Legal, and Engineering. You'll sit at the intersection of operations, risk, and technology, with a mandate to build a collections operation function that is modern, compliant, data-driven, and fundamentally client-first. Our ideal hire has deep collections expertise, thinks in systems, moves with urgency, and believes that how you collect matters as much as what you collect. Key Responsibilities Collections Strategy and Execution Define and execute the end-to-end collections strategy across products: credit cards, personal lines of credit, instant EFT, and margin (late stage) Manage the escalating treatment framework, from pre-delinquency nudges (in-app banners, payment reminders, autopay encouragement) through early-stage outreach, live agent calls, hardship programs, settlements, right of offset, credit bureau reporting, and third-party referrals. Design and manage workout programs (temporary and permanent hardship, reduced payments, interest rate adjustments, settlements, forbearance plans) with clear approval thresholds and exception processes Partner with data science to inform the design of new segmentation frameworks and risk-based treatment paths that shift collections from one-size-fits-all to personalized, data-driven engagement journeys Risk, Controls, and Compliance Maintain current knowledge of evolving provincial rules (e.g., limitation periods, licensing, permitted contact practices) and ensure operational processes reflect changes in real time Ensure agents comply with all applicable regulatory frameworks across every Canadian jurisdiction, including provincial collection agency licensing requirements and PIPEDA guidelines. Serve as the operational authority executing within the boundaries of our collections policy Ensure audit readiness across all collections activity, including documentation of decisions, exception approvals, and change management for policies and procedures Data, Analytics, and Financial Reporting Own performance metrics: roll rates, net recovery rate, cost to collect, days sales outstanding (DSO), promise-to-pay and broken promise rates, right party contact rates, and cure attribution Partner with Data Science to build and refine propensity-to-pay models, optimize treatment strategies through experimentation, and leverage segmentation and decisioning outputs to sharpen collections execution Collaborate with Finance and Credit Risk on recoveries forecasting, provisions, and the accounting treatment of delinquent and charged-off balances. Define requirements for dashboards and reporting rhythms that give our Risk Committee clear visibility into collections performance; partner with data science to build dashboards AI and Automation Define the operational requirements for AI-powered collections tools, including payment intelligence, engagement tracking, reconciliation, and customer insights (best contact time, risk scores) Define and execute the digital-first collections channel strategy, including dialer optimization, contact rate management, best-time-to-contact models, and next-best-action recommendations Partner with Data Science and Engineering to build and deploy AI/ML-informed strategies, including repayment propensity models, roll prediction, optimal contact timing, and engagement scoring Tooling, Vendors, and Third Parties Lead the evaluation and selection of collections case management software, addressing known gaps in audit/compliance logging, queue management, and investigator workflows. Own the transition from current tooling to a purpose-built collections platform Manage third-party collection agency relationships end to end: vendor selection, compliance audits, strategy alignment, performance management, and commercial terms. Build the operational processes for agency assignment, recall, and reconciliation of direct payments Determine when and how to expand to additional third-party partners or geographies based on cost, performance, and risk considerations Collaborate with Engineering partners to integrate vendor tools People Leadership Lead, coach, and grow a team of collections associates and recovery agents Set the tone for how the team engages with clients. Collections at Wealthsimple should feel respectful, human, and solution-oriented. Every account in the collection process is a client, and there is always a chance they come back into good standing Build the team's capabilities to keep pace with a rapidly evolving landscape in AI, collections technology, and regulatory change What You Bring Deep collections expertise : 8+ years in collections, credit risk, or loan servicing, with significant experience in unsecured consumer lending (credit cards, personal loans, or lines of credit). You know how collections actually works end to end, from queue segmentation and escalating treatment design to settlement negotiations and charge-off accounting A regulated mindset : You've operated in regulated environments (banking, fintech, financial services) and understand the interplay between collections strategy, compliance, and risk governance. Experience with Canadian provincial collections regulations is a strong asset Analytical Rigor : You're fluent in the metrics that matter. You use data to track operational efficiency, optimize agent performance, and make the case for change. Comfortable working with Data Science teams on modeling and segmentation A builder's disposition -- You've stood up or materially scaled collections operations before. You're comfortable defining processes, growing a team of agents, choosing tooling, and getting into the details while also setting strategic direction People leadership : Proven experience leading and developing operations teams. You set high standards, coach with care, and create environments where people do their best work Vendor management chops : Experience managing third-party collection agencies, including compliance oversight, performance accountability, and commercial negotiations AI curiosity : You're excited about what AI and automation can do for collections. You don't need to be an engineer, but you should have strong opinions about how technology can make outreach smarter, more humane, and more effective Industry pulse: You stay deeply connected to industry trends in collections technology, AI agents, and regulatory evolution Bonus if you also... Have experience with collections in a multi-product lending environment (credit cards plus other consumer lending products) Bring hands-on familiarity with modern collections platforms or CRM tools and understand the tradeoffs in build-vs-buy decisions for case management Have worked cross-functionally with Credit Risk, Finance, and Data Science teams to shape credit strategy Understand the financial mechanics of lending programs: how collections performance flows through to provisions, net loss rates, cost of funds, and program profitability Why Wealthsimple? 🌸 Top-tier health benefits and life insurance 📈 Long-term group savings with employer match, through Wealthsimple for Business 🌴 20 vacation days, 4 wellness days, and unlimited sick and mental health days per year ✈️ 90 days away: work outside Canada for up to 90 days per year 👥 Employee resource groups, including Rainbow (2SLGBTQ), Women of WS, and Black at WS 🌎 We are a hybrid team with over 1,500 employees across North America. The people are one of the best parts of working here: you'll collaborate with incredibly talented, curious, and driven teammates who are deeply committed to doing great work. ICYMI Technology & Innovation at Wealthsimple: We move quickly and build thoughtfully. That means we're always looking for better ways to work — whether that's new tools, AI, or rethinking how we approach a problem. We don't expect you to have all the answers, but we do expect curiosity and a willingness to evolve alongside the products we're building. Inclusion Statement: We're building products for a diverse world, and we need a diverse team to do it well. We strongly encourage applications from everyone, regardless of race, religion, colour, national origin, gender, sexual orientation, age, marital status, or disability status. Accessibility Statement: We're committed to an accessible hiring experience. If you need any accommodations throughout the interview process, please let us know — we'll work with you to make sure you have what you need. We also welcome any feedback on how we can better accommodate candidates with accessibility needs. AI in Hiring: We may use artificial intelligence (AI) tools to support parts of our hiring process, such as reviewing applications, analyzing resumes, or assessing responses. These tools assist our team but don't replace human judgment – all final hiring decisions are made by people. If you have questions about how your data is used, reach out to us.