Canada's Challenger Bank™
If you're looking for a workplace where employees are passionate about their work environment, then read on. What sets Equitable Bank apart from other companies is its culture. We celebrate and embrace the fabric of diversity, the employee engagement process and collectively take pride in our business successes. Our commitment to our customers, our partners and our employees creates a stimulating and exciting atmosphere that generates innovative products and outstanding service quality.
Equitable Bank is Canada's ninth largest independent Schedule I bank, serving Canadians coast to coast. It offers a diverse suite of residential lending, commercial lending and savings solutions, including high-interest savings products and GICs. Through its proven branchless approach and customer service focus, Equitable Bank has grown to approximately $33 billion in assets under management. In 2016, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. Equitable Bank currently employs over 750 employees across the country.
Within Equitable Bank's Core Lending business, Single Family Lending Services funds mortgages for owner-occupied and investment properties across Canada, while Commercial Lending Services provides mortgages on a variety of commercial properties on a national basis.Equitable's Securitization Financing business originates and securitizes insured residential mortgages under the Canada Mortgage and Housing ("CMHC") administered National Housing Act.Equitable Bank also offers a range of deposit products including short-term, long-term and Cashable GICs, available in non-registered or Tax Free Savings Account ("TFSA") across Canada. And it offers a High Interest Savings Account, available from authorized investment advisors through the FundServ network.
Equitable Bank is a growing Canadian financial services business and a wholly owned subsidiary of Equitable Group. It was founded in 1970 as The Equitable Trust Company.
Manager, Reverse Mortgage and CSV Credit
Single Family Residential Mortgage Department
VP, Reverse Mortgage and Prime Lending
Purpose of Job:
The Manager is responsible for providing day to day leadership, mentoring and guidance to team members whilst ensuring the team operates efficiently and in accordance to Bank policy.
In partnership with the Vice President and other Equitable Bank Single Family (SFR) team members, the Manager will support the implementation of plans for the rapid growth of reverse mortgages and CSV line of credit lending.
In this role, the Manager must be highly knowledgeable about Equitable Bank’s product suite and the broader retirement financing market in order to support prospective deals and partnerships. This position requires exercising independent judgment to perform the responsibilities described herein.
As a Key member of the Equitable Bank Reverse Mortgage and CSV Line of Credit team, establish an exceptional standard of care and behaviour with all internal and external stakeholders.
This position will be in Toronto and may require travel to other Bank markets.
There are four areas of accountabilities listed below which when performed well, will cumulatively lead to ultimate success in this position.
1. Prudent Lending and Credit Risk Management - 40%
- Be accountable for ensuring that respective team members comply with Bank policies and guidelines. Be the first point of contact for escalations within the team and make prudent decisions in a timely fashion.
- As applicable, for both yourself and for staff, decline, recommend and approve applications within your prescribed lending limits.
- Exercise mature judgement in credit decision making; escalate to higher authorities as required.
- Maintain the effective inventory of underwriting and related follow-on guidelines. Ensure team is familiar with credit and process changes as applicable.
- Identify and remove barriers to effective operations and present process recommendations to management.
- Leveraging data and business analysis capabilities, challenge pre-existing approaches to facilitate prudent growth and development of the business.
2. Credit Operations, Productivity and Broker Service - 20%
- On a regular basis, assist with daily underwriting to ensure service levels are met or exceeded. Follow up with direct customers, mortgage brokers or advisors from time to time to ensure the timely collection of outstanding documents to achieve optimal productivity and customer service. Be responsible for the efficient management of files prior to funding to ensure that approved deals close in a timely manner and within established guidelines.
- Work closely with peers to ensure a successful and consistent approach to achieving corporate objectives.
- Maximize the productivity of the team and rectify challenges as required. Provide valuable timely feedback on team member performance and seek out training opportunities for staff as required.
- As needed, engage with external contacts to resolve issues, learn about competitive dynamics relevant to the Bank.
- Provide underwriting expertise to staff, mortgage brokers and Equitable Bank business partners. Work closely with sales channel partners to field inquiries and resolve escalated issues quickly and effectively. Also, work with staff as required to ensure that the overall team delivers exceptional service in everything they do.
3. Leadership - 20%
- Assume a senior role and lead respective team by providing support, guidance and mentoring to team members and others across the Bank.
- Encourage an entrepreneurial, yet disciplined culture amongst team members bringing energy and perseverance to all activities.
- Meet on a regular basis with the entire team to keep lines of communication open and healthy and to ensure consistency within the group.
- Provide the highest level of internal and external customer service while fielding external inquiries and building strong working relationships.
- Participate in relationship development activities to build the Bank’s brand in the Canadian reverse mortgage arena.
- Nurture a high performance culture within the team.
4. Effective Reporting and Communication - 20%
- Create and maintain various reports which will assist with the management of the team’s daily workflow and individual staff performance. Use the data obtained from reporting to motivate, mentor, support and lead the team.
- Communicate with staff members to ensure Bank goals and objectives are understood and achieved.
- Communicate with external contacts and business partners to strengthen and promote the Equitable Bank brand in the marketplace.
- 7+ years’ mortgage experience in the mortgage market, bonus points for Alternative or Reverse mortgage experience
- 2+ years’ mortgage underwriting experience
- 2+ year of management experience
- Strong leadership and coaching skills
- Established and meticulous organizational skills
- Sound multi-tasking skills and excellent attention to detail
- Autonomous ability to make decisions under pressure
- Highly developed verbal and written communication skills with the ability to respond in a clear, concise and professional manner
- Excellent time management, analytical and problem solving skills
- Committed to providing superb customer service
- Demonstrated ability to use MS Office (MS Word and Excel)
- Sound knowledge of mortgage lending
- Completion of a post-secondary degree preferably in a financial field
- Proven ability to thrive and perform well in a constantly changing, high volume and high intensity environment
- Sound knowledge of AML & ATF practices
- Elevated knowledge of fraud risk in the mortgage industry
- Fluency in French considered an asset
Equitable Bank is an equal opportunity employer and encourages applications from all qualified candidates. Accommodations are available on request for candidates taking part in all aspects of the selection process. All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for hire. While we appreciate your interest in applying, an Equitable recruiter will only contact leading candidates whose skills and qualifications closely match the requirements of the position.