Credit and Collections Specialist

Job description

About The Role Hi, I'm Cato , Founder at Loop, and I'm hiring a Credit and Collections Specialist to own both ends of our credit lifecycle: the decision to lend, and the recovery when a loan goes wrong. This role is an onsite position at our downtown Toronto office (Bay and Bloor). Where You Come In Most companies split underwriting and collections across two teams that never talk to each other. We don't. In this role you'll spend roughly half your time deciding who gets credit and on what terms, and the other half working directly with customers whose accounts have gone past due. That combination is the point. You will see the downstream consequence of credit decisions, and you'll be expected to feed what you learn in collections back into how we underwrite. Nobody at Loop is better positioned to close that loop than the person doing both jobs. You'll be speaking with business owners every day — sometimes to structure a facility that helps them grow, sometimes to have a hard conversation about a balance they haven't paid. Success comes from balancing empathy with accountability, moving quickly without sacrificing judgment, and always looking for the practical path to a resolution. You'll also help build the function. Our credit book is growing faster than our processes, and we're looking for someone who wants to fix that — not just work the queue. What You'll Be Doing Credit (~50%) Underwrite business credit applications for Loop's credit card and capital products — assess creditworthiness, recommend limits, and decide within policy or escalate when a case warrants it. Analyze financial statements, bank account and open banking data, credit bureau reports, and payment history to build a clear picture of each business. Conduct due diligence on applicants and related parties, and request additional documentation where the file is incomplete. Manage security agreements and register liens and security interests with perfect accuracy, coordinating with customers, lenders, and vendor partners. Monitor the existing portfolio — reassess exposure, resize lines, and action remediation when a customer's position changes. Document every decision and its rationale clearly enough that someone else can audit it a year from now. Collections (~50%) Own a portfolio of past-due accounts end to end, from first outreach through resolution. Contact customers by phone and email to collect outstanding balances and negotiate repayment arrangements that hold, while keeping the relationship intact where possible. Draft formal correspondence including payment reminders, document requests, and demand letters. Manage legal recovery matters — small claims, settlement conferences, bankruptcy and insolvency filings, process serving, and enforcement — working with internal teams, external counsel, and collection agencies. Maintain accurate records of every interaction and commitment in Salesforce, and report delinquency status to leadership on a regular cadence. Apply tact, diplomacy, and resourcefulness to handle objections and control genuinely difficult conversations. Across both Identify the patterns behind delinquency and translate them into concrete changes to our underwriting criteria, monitoring triggers, and collections playbook. Build the scalable version of this function: better process, better tooling, more automation of the straightforward cases so human judgment goes where it's actually needed. Who Thrives Here We're an intense, high-growth company, and we'd rather tell you what that means now than have you discover after you join. People who do well at Loop: Look for leverage first. You reach for a system, a template, or a script before you reach for more resources. Are direct, and can take direct. We say what we mean to each other's faces. No hallway gossip, no silent disagreement, no letting a colleague fail out of politeness. Finish the whole job. A file isn't closed until the documentation is written, the record is updated, and the next person is briefed. Run at hard problems. You don't complain; you troubleshoot. A collections file nobody wants to touch is an opportunity, not a burden. Don't need to be managed. You'll be given real ownership early and you'll be expected to use it. If you want a job description that holds still, or you'd rather be liked than told the truth, this isn't the right fit — and that's fine. Desired Qualities, Skills, and Experience 2+ years in credit, underwriting, collections, lending, commercial banking, or a related financial services role. Strong analytical ability — you can read a financial statement and form a view on the health of a business. Sound judgment with imperfect information, plus the self-awareness to know when to escalate. Excellent written and verbal communication, including the ability to explain and document a credit decision, and to hold a difficult conversation with professionalism. Exceptional attention to detail, organization, and follow-through. Lien registrations and demand letters are unforgiving of sloppiness. Comfortable with high volume and competing priorities in a fast-paced startup environment. Genuine interest in using data, tooling, and automation to make credit and recovery more efficient. Proficiency with Excel or Google Sheets and Google Workspace. Fluency in English; conversational French preferred. It's a bonus if you have: experience underwriting small business or commercial credit; familiarity with Salesforce or similar CRM; exposure to credit bureaus, banking data, or credit decisioning platforms; experience with insolvency or legal recovery processes. What's in it for you? Real ownership and meaningful career growth opportunities at one of Canada's fastest-growing fintechs. Exposure to the full credit lifecycle — origination through recovery. The chance to shape how Loop makes and manages credit decisions as we scale. Mentorship from leaders who are invested in your development and demanding of your output. A collaborative, high-performing team where your work is visible and your decisions matter. What we offer Salary range CAD $60,000–$75,000 annually, commensurate with experience Equity ranging 0.01–0.05% 3 weeks vacation Enrolment in the group health benefits plan after the probation period Interview Process 30 minutes virtual meeting with Sarah, Chief of Staff 60 minutes in person meeting with two members of the team Take home assignment 30 minutes in person meeting with Cato, CEO and Co-Founder and 15 minutes with Sarah, Chief of Staff Background check and offer Our Mission, Vision and Values Mission: To help businesses seamlessly manage money around the world so they can access more markets, save money and simplify their operations Vision: The future of business is global by default. Loop will be the first business bank that is global by default. Values: Act with Urgency, Take Radical Ownership and Be Kind How to Apply To apply for this position, please click “apply” and share your resume, alongside a brief paragraph about yourself and your previous experience. Your application will be reviewed by our recruiters and hiring managers; we do not use AI tools for screening or selection. Loop is committed to creating a diverse culture. We encourage you to apply regardless of who you are or where you came from - what matters is the journey ahead. Put simply, if you’re unsure about your qualifications for this position, we’d still encourage you to apply! About Loop Loop is a rapidly growing fintech transforming how businesses manage their money. We're building the first business banking offering that is global by default, so our customers can access more markets, accelerate growth, and radically simplify their operations. Businesses are global, but banks are local — we're here to fix that and we are looking for ambitious people to join our mission.