Commercial Banking Manager

3 days ago

Toronto ON, Canada EQ Bank | Equitable Bank Full time

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. Overall we serve more than 670,000 people across Canada through Equitable Bank, Canada's Challenger Bank™, and 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 six million members. Together we have over $125 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our customers have named our EQ Bank digital platform (eqbank.Ca) one of the top banks in Canada on the Forbes World's Best Banks list since 2021.
The Manager, Commercial Credit is responsible for providing day to day leadership, mentoring and guidance to team members while at the same time ensuring that the team operates efficiently and productively. all aspects of CMHC portfolio management (excluding CMHC annual reviews) including the monitoring and processing of all maturities, renewals, and loan extensions as well the Quarterly Servicing Audit of CMHC loan files
The Manager will also be responsible for ensuring that departmental guidelines, procedures, policies and credit risk objectives are adhered to and must exercise sound judgment without compromising service and credit risk. Additional credit-related and administrative duties including weekly, monthly and quarterly reporting are also required to support senior management and regulatory requirements. The Manager is responsible for communicating and cooperating with external business partners as well as staff within the Credit & Risk Management group and other internal departments.
The Manager will prepare and conduct team members’ performance reviews and target settings as well as interviews for all incoming employees.
As required, the Manager is also responsible for underwriting commercial mortgage product types to be reviewed by the Senior Manager, Commercial Credit including conventional and CMHC-insured facilities, adhering to established policies and underwriting standards, meeting compliance and control requirements, achieving service goals and assisting with the achievement of anticipated annual team targets.
25% on a daily basis, the incumbent will review loan analyses (CRAs) submitted by commercial mortgage underwriters (including originations, renewals, assumptions, and ad hoc requests) and approve applications within prescribed limits. The incumbent will be responsible for ensuring that team members adhere to company policies and guidelines
~ 25% on a daily basis the incumbent will be responsible for providing ongoing training and guidance to staff members. monitoring the CMHC Maturities Pipeline to accurately track the status of upcoming renewals, refinances, extensions and discharges
~ 10% on an ad-hoc basis, the incumbent will prepare and conduct employee targets and performance reviews as well as interview candidates for available positions
~ 10% on a daily basis, the incumbent will communicate with internal contacts (funders, managers, administrators) and external contacts (lending partners, mortgage brokers) to ensure transactions are processed in a timely and efficient manner in order to deliver superior customer service
~ 5% on a monthly basis, the incumbent will be responsible for various administrative and reporting duties required for the department/Company which will be relied upon by Senior Management

Minimum 5 years of experience in underwriting commercial real estate transaction including CMHC-insured multi-unit commercial mortgages
Bilingualism is an asset
Working knowledge of AML/ATF regulations and Corporate/Legal documentation (both direct and partner originated transactions) for commercial real estate in multiple jurisdictions across Canada
Sound technical knowledge of commercial real estate underwriting, financial statement analysis and factors affective the commercial mortgage market
Proficient in MS Office
What we offer [For full-time permanent roles]
#Market leading RRSP match program
#Medical, dental, vision, life, and disability benefits
#Generous vacation policy and personal days
#Virtual events to connect with your fellow colleagues
#A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience
The incumbent will be working hybrid and in office time will be spent working from Equitable Bank’s additional office space located at 351 King Street East, Toronto, ON.
Equitable Bank is deeply committed to inclusion. All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for hire.

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