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, Business Development – Central Canada
Single Family Residential
Director, National Sales
Purpose of Job
The Manager, Business Development (MBD) is responsible for managing a team of Regional Business Managers (RBMs) who maintain existing broker relationships within specified territories and increase revenues based on yearly targets set out in the strategic plan. In this role, the MBD must be highly knowledgeable about the mortgage broker network, the Bank’s mortgage products and underwriting processes so as to ensure effective management of the BDMs as well as key accounts across assigned territories.
There are four areas of accountabilities listed below:
1. Leadership - 45%
The MBD must be a highly organized individual and a natural leader to manage a team of RBMs. The MBD will execute the following duties in close consultation with the Director National Sales (DNS):
- Mentor the RBM(s) to provide feedback on presentations and to improve on overall delivery of the Bank’s products and services. Assess RBMs with joint visits at least 1 day/week. This may involve some travel within the GTA.
- Recommend changes to Key Account lists for RBMs.
- Review the RBMs’ performance on a monthly and quarterly basis; provide coaching and remedy any performance issues. Formally deliver final performance reviews at year end along with DNS to recognize performance and to set a plan to remedy any performance targets and further the RBMs’ development.
- Actively contribute to the single family strategic plan to ensure that the RBMs continue to be an integral part of the strategic planning process and growth strategy.
- Work with Credit and other departments within the organization to foster teamwork and resolve any broker related issues on behalf of the RBMs or escalate to DNS as required.
- Handle all day-to-day recommendations for watchlist/blacklist requests from the Fraud Committee. MBD is the representative for sales in the GTA within the committee.
- Work with Underwriting managers and RBMs on escalations pertaining to existing deals. May require in-office meetings for a full review of the file(s) in question. Where a decision cannot be rendered, the MBD will escalate the file to the DNS who will then work with the Director or VP Underwriting for Alternative and the VP Underwriting for Prime to render a decision.
2. Network Regional Managers & EQB Regional Support – 25%
The MBD is expected to directly produce and manage relationships with the Regional Managers within all the networks. The MBD is expected to:
- Sales Managers are to meet monthly with the respective Regional Managers of our National Partners – expected to discuss overall regional performance with the network, any challenges that their brokers may be experiencing, and opportunities with new or existing accounts where we may not have a strong relationship. Discuss any relevant information with DNS at the next touch point following the quarterly visit.
- Ensure the Regional Managers are apprised of offerings & promotions – gain support on all product lines.
- MBD to leverage Regional Managers to help our RBMs and Internal Business Development Representatives (IBDRs) gain access to top performers and new agents within their networks.
- Applicable MBDs are to ensure they visit their EQB regional office twice a month (Vancouver Office in the West and Montreal Office in the East) on Fridays of the National Sales Meetings – MBDs are also expected to visit all their RBMs once a month who may work from a remote area.
- Assist the DNS with facilitation and presentation of EQB’s products at events when required.
- Attend major industry events to bring heightened visibility, including attendance at golf tournaments, broker holiday events, association events, as well as annual trade shows such as CMBA and MPC where applicable.
3. Product and Marketing Campaigns – 15%
The MBD is expected to take an active role in ensuring the marketing campaigns by the RBMs are consistent and accurate. The MBD is expected to:
- Update SFR presentation as required and send to DNS for final approval.
- Approve sponsorship requests, up to $10,000, sent by RBMs. Any amount greater than $10,000 will be recommended to the DNS for approval, if they meet company strategic guidelines.
- Ensure adequate RBM coverage for GTA events put on by various brokerages and networks.
- Compile data from RBMs and provide a competitive analysis to the DNS on where EQB may be at a competitive disadvantage and strategize with the DNS on how to improve EQBs position.
- Work with DNS on pricing/lending area recommendations in order to continue to strengthen EQBs position in the marketplace.
- Responsible for requesting and approving broker facing marketing materials for RBMs.
4. Administrative – 15%
In this position, the MBD is responsible for a number of administrative duties that are crucial for a well-functioning sales team. The MBD will:
- Manage and approve the RBMs’ expenses on a monthly basis.
- MBD is expected to be in the office Mondays (as required), Wednesdays, and Fridays and will be on the road 2 days a week meeting with the Regional Managers of our network partners and with RBMs on daily visits/presentations.
- Lead the monthly sales meeting to ensure effective communication amongst the group as well as to ensure team approach and efforts are targeted to the overall strategy.
- Actively assist the DNS (when required) in interviewing, hiring and training of new RBMs.
- Review RBM visit cycle weekly to ensure minimum visits have been met and agents/brokers being visited are key accounts.
- Is the permanent delegate on the Fraud Committee. Must ensure that sales position on fraud committee votes take into account the prudent broker approach.
- Review monthly RBM Tableau reports for all business lines and meet with each RBM on the first Friday of the following month to discuss volume and efficiency numbers as well as any trends that can be presented to the DNS. Responsible for identifying these trends and assisting the RBM in remedying any issues.
- 5 years’ people management experience
- Minimum 5 years’ previous sales and or underwriting experience in the industry
- Strong written and verbal skills
- Proficient on Microsoft Office – Word, Excel, Access and Power Point
- Self directed and highly organized individual who can multi-task
- Must possess a driver’s license which must be in good standing
- Completion of a college or equivalent post secondary degree
- Outstanding interpersonal skills
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.