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Residential Mortgage Officer

3 months ago


Vancouver, British Columbia, Canada EQ Bank | Equitable Bank Full time

Join a Challenger

Being a traditional bank just isn't our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what's possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you're not afraid of taking on big challenges and redefining the future, you belong with us. You'll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.

We are a big (and growing) family. Overall, we serve more than 607,000 people across Canada through Equitable Bank, Canada's Challenger Bank and EQB Inc.'s majority owned subsidiary ACM Advisors. We have been around for more than 50 years. Equitable Bank's wholly owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than 6 million members. Together we have $119 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our EQ Bank platform ) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2023, 2022, and 2021 lists.

The Work

The Residential Mortgage Officer is responsible for maintaining and updating mortgage files from the commitment approval stage to the time the loan is funded. This mainly includes the reviewing of files, correspondence with mortgage brokers to request outstanding documents and the adjudication of documents as per FINTRAC, internal AML/ATF guidelines and EQB policies and procedures. The Residential Mortgage Officer also plays an integral role in the mitigation of fraud within the Single Family Residential Department.

The Core Responsibilities of the Job
  • On a daily basis, the incumbent will obtain and review required documentation with a strong emphasis on anti-money laundering (AML) and anti-terrorist financing (ATF) requirements, including but not limited to, income, down payment verification and client interviews. The incumbent will ensure that documentation adheres to corporate guidelines and will mitigate any concerns surrounding suspected misrepresentation when required. (35%)
  • On a daily basis, the incumbent will strive to ensure that mortgage files are in compliance with the Company's established lending policies and procedures as well as ensuring that legal, AML and ATF requirements have been satisfied. (35%)
  • On a daily basis, the incumbent is responsible for time management of their deal flow in order to meet prescribed deadlines. Day-to-day the incumbent will make diligent use of reports to track and manage the flow of all deals funding for their team. (15%)
  • On a daily basis, the incumbent will communicate with internal contacts (underwriters, managers, administrators and mortgage sales staff) and external contacts (mortgage brokers and clients) to ensure transactions are processed in a timely and efficient manner in order to meet tight deadlines. The incumbent will provide the highest level of internal and external customer service while fielding mortgage broker and client inquiries. (10%)
  • On a daily basis, the incumbent will monitor changes to deals and update files as required. The incumbent must send correspondence to the appropriate parties apprising them of changes. The incumbent must also ensure that Quality Assurance requirements and Compliance review queries are dealt with in a timely and accurate manner. (5%)
Let's Talk About You
  • Completion of a post-secondary degree preferably in a financial field
  • 1-2 years' mortgage experience in the alternative mortgage market
  • Sound thinker with the ability to multi-task; ability to handle multiple competing priorities
  • Excellent attention to detail
  • Ability to grasp AML & ATF practices
  • Established and meticulous organizational skills
  • Excellent time management, analytical and problem solving skills
  • Ability to make complex decisions under pressure
  • Proven ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment
  • Highly developed verbal and written communication skills with the ability to respond in a clear, concise and professional manner
  • Committed to providing superb customer service
  • Proficiency in MS Office (mainly MS Word and Excel)
  • Detailed knowledge of mortgage funding and quality assurance processes
  • Ability to comprehend and assess documentation relating to mortgage down payment and borrower income confirmation
  • Mindful awareness of fraud risk in the mortgage industry and the ability to address concerns relating to suspected misrepresentation when required

What we offer [For full-time permanent roles]

Competitive discretionary bonus

Market leading RRSP match program

???? Medical, dental, vision, life, and disability benefits

Employee Share Purchase Plan

Maternity/Parental top-up while you care for your little one

Generous vacation policy, personal days and even a moving day

Virtual events to connect with your fellow colleagues

Annual professional development allowance and a comprehensive Career Development program

A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience

Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyone's diverse experiences and perspectives. In tandem with that commitment, we support and encourage our staff to grow not just in their career path, but personally as well.

We commit to providing a barrier-free recruitment process and work environment for all applicants. Please let us know of any accommodations needed so that you can bring your best self to the application process and beyond.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.

We can't wait to get to know you


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