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Senior Account Manager, Special Loans and Restructuring
3 months ago
Part Time / 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 370,000 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 5 million members. Together we have over $100 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 (eqbank.ca) 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 Senior Account Manager, Special Loans and Restructuring, is responsible for managing commercial default files, certain commercial loans designated as “problem accounts”, which include but are not limited to conventional and construction facilities while adhering to underwriting standards and the Company’s policies and procedures (including AML requirements, as applicable). The incumbent is responsible for enforcing the conditions of the mortgage contract on facilities in default as directed by Management, while providing proactive and efficient resolutions/work out strategies to avoid legal action when feasible while minimizing losses to the Bank. The incumbent at times will act as the key primary contact for communicating and co-operating with both internal and external stakeholders (such as legal counsel, real estate agents, brokers, partners and other internal departments within the Bank) and representing the Bank in the professional community to ensure transactions are processed in a timely and efficient manner.
The Senior Account Manager, Special Loans and Restructuring will provide direct support to the Associate Director, Special Loans and Restructuring by performing a variety of functions associated with default management, including underwriting/credit analysis, portfolio management/monitoring, reporting, projects and initiatives and other administrative duties, which may include ad hoc requests by Senior Management.
In addition, the incumbent will assist with completing site inspections as required for portfolio management purposes and/or default loans.
The Core Parts Of Your Role Would Be To
- Manage and/or administer complex delinquent and problem commercial mortgages (generally loans exceeding $2.5MM) while minimizing losses to the Bank, process loans for legal action for non-payment (including past maturities, tax arrears, insurance cancellations, bankruptcies/liens, etc.) and conduct full financial review prior to recommending appropriate legal remedies to Senior Management.
- Perform, review and correlate all aspects of underwriting (including collateral analysis and valuation) for defaulted loans and problem accounts, ensuring that each submission addresses heightened risk elements.
- Work closely with the Mortgage Services team to manage, monitor and/or resolve commercial delinquencies and certain default loans deemed to be non-performing, while providing timely updates to Senior Management.
- Assist in providing direct oversight on properties that are held by the Bank for recovery purposes, if necessary.
- Ensure timely preparation of various reports required by Senior Management, the Board of Directors and external regulators.
- Work with Senior Management to continuously strive for operational efficiency and implement improvement measures.
Let's Talk About You
- Minimum of 5-7 years of commercial mortgage experience or related, with previous default experience preferred.
- Business degree or a related discipline, and/or a CPA or similar professional designation or equivalent work experience.
- Understanding of mortgage enforcement remedies and foreclosures across Canada.
- Effective analytical and problem solving skills.
- Sound technical knowledge of secured lending and factors affecting the commercial mortgage market.
- Established time management and organizational skills.
- Strong multi-tasking skills with attention to detail.
- Proven ability to thrive in a constantly changing environment.
- Self-starter with the ability to work independently.
- Effective negotiation and communication skills, both oral and written.
- Proficient in MS Office.
- Possess a valid driver’s license. Ability to travel within the provinces, with some overnight travel required.
Job Complexities/Thinking Challenges
The position requires the incumbent to demonstrate the ability to make sound decisions/recommendations accurately and efficiently with often limited information available in a timely manner. The incumbent shall possess strong cognitive and professional judgement upon which they can rely in the ongoing management of their portfolio.
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
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. Our organization is stronger and our employees thrive when we honour and celebrate everyone’s diverse experiences and perspectives.
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.
We can’t wait to get to know you
Requirements:- Work Permit
