Commercial Banking Manager

4 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.
As part of a growing, dynamic & solution-focused commercial team, the Commercial Mortgage Underwriter is responsible for underwriting conventional commercial mortgages (typically up to $5-7m). The underwriter must adhere to established policies and underwriting standards, meeting compliance and control requirements, while finding creative and service-oriented solutions in a timely manner in order to achieve department goals as well as annual target volumes. Additional credit-related and administrative duties are also required such as reporting and pipeline management (SIT/RAISE). As well, networking with brokers and other external business partners along with various staff within the Credit & Risk group and other internal departments.
On a daily basis, the incumbent will analyze and underwrite commercial credit facilities together with additional credit related and administrative duties, for conventional commercial mortgage product types. Attention must be made to ensure that compliance with the company’s established lending guidelines and procedures are followed with recommendations submitted for approval to management. On a daily basis, the incumbent will communicate with internal contacts (funders, managers, administrators, and commercial sales staff) as well as external contacts (lending partners, mortgage brokers, solicitors, appraisers and consultants) to ensure transactions are processed in a timely and efficient manner in order to deliver superior customer service and funding deadlines. Site inspections of properties or drive-by inspections may be required, on a deal-to-deal basis. (On a monthly basis, the incumbent will be responsible for various administration and reporting duties required for the department/Company which will be relied upon by Senior Management (10%).
Bilingualism is an asset
Proficient underwriting skills with a minimum 3 years’ commercial mortgage experience and/or SFR underwriting experience
Demonstrated service excellence within their field
Post-secondary education (diploma/degree) preferred, preferably in business or finance
Good working knowledge of MS Office (primarily Word and Excel)
Good business sense combined with sound technical knowledge of secured lending and factors affecting the commercial mortgage market
Good understanding of regulatory, compliance, AML and privacy policies
Access to a vehicle for site inspections
Commercial mortgage applications can be complex in nature, requiring creative and innovative thinking and proactive problem solving. The incumbent is required to follow corporate policies, procedures and regulatory requirements in order to work through files and rationalize the recommendations or decisions made. The ability to clearly identify material risks and outline the mitigating factors that form their ultimate recommendations to Management. Maintaining a balance between providing high level of customer service, meeting performance service level metrics, supporting the Origination team while upholding integrity and ensuring credit decisions are thoroughly assessed, and concerns are addressed as they arise and escalated when appropriate

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.

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