Manager, Portfolio Administration

6 months ago

Toronto, Canada HomeEquity Bank Full time

WHO WE ARE

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage product.

Our Values, Our Passion
At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.

We Are Customer-Focused, Passionate Advocates.

We Have the Courage to Act and Do the Right Thing.

We Are One Team, with One Vision.

We Think Long-Term, We Are Ever-Evolving.

We Strive to Be Exceptional and Inspire Greatness.

***:
The role is responsible for managing the Post Funding book of mortgages in terms of satisfying customer service requests and managing various monthly, weekly and daily portfolio responsibilities to ensure that all processes are completed in a timely and efficient manner in accordance with the Bank’s policies. It is also the technical lead in terms of knowledge of the underlying mortgage contracts, and as such the position will provide training for new and existing staff. This role is also responsible for documenting, implementing and assessing controls and processes to ensure full compliance with applicable regulatory requirements and the Bank’s policies, including Privacy, AML, Complaint Handling and Compliance.

**MAJOR ELEMENTS OF THE ROLE**:

- Coaches, mentors, trains and leads the Portfolio Administration team; conducts performance reviews with staff and sets goals/objectives and monitors those goals/objectives; trains staff on contract specific technical knowledge
- Manages Subsequent/Planned Advance (SA) Requests, ensuring proper documentation is in order and that mortgage is in good standing prior to disbursing funds
- Fosters relationships with vendor/suppliers, negotiating contracts as required and overseeing all outsourced work, including monitoring performance. Reviews and approves invoices.
- Coordinates the Annual Property Tax Payment Confirmation Process with customers, following up as necessary and charging customer files for searches
- Coordinate the Monthly Property Insurance Confirmation Process, to ensure that required adequate insurance is in place
- Oversees preparation of mortgage discharge documents for signoff from management, within established timelines, and directs finalized discharge documents to customer’s lawyer/customer
- Oversees daily posting of customer payments to the banking system and manages the payment processing procedure and controls, ensuring that required proper preauthorized chequing documentation is on file; ensures that safe guards and processes are followed for cheques kept on file
- Monitors Client Service requests to Portfolio Administration, e.g. Land severance requests, Partial payout requests, Subsequent/Plan advance requests, Power of Attorney requests, Refinancing and Portable mortgage requests, etc.

**SKILLS AND EXPERIENCE REQUIRED**:
Education and Professional Background
- Completed University Degree
- Progressive leadership experience at a Canadian financial institution in mortgage processing and administration
- Extensive technical knowledge of residential mortgages; requires an understanding of the mortgage product and the Bank’s business process
- Experience managing people and teams
- Excellent knowledge of credit underwriting methodology
- Direct experience and involvement with internal audit and OSFI reviews
- Knowledge of Privacy and AML legislation

Attributes
- A collaborative leadership style with the ability to take initiative
- Well organized and able to effectively manage multiple activities while under time constraints
- Ability to establish healthy working relations and partnerships
- Excellent attention to detail, data analysis and problem solving skills
- Excellent verbal and communication skills
- Excellent business and problem solving skills
- Results oriented
- Able to manage confidential information with appropriate discretion
- Excellent external and internal Customer Service focus

**Working Conditions Unique to Job**:
Hybrid office environment

WHY WORK AT HOMEEQUITY BANK?

Great Environment
HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility - an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.
We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.

A Dynamic Culture - With People at the Centre
We believe our people making all the difference; our tireless commitment to inclusivity, professional development, and employee engagement/experience has been recognized through awards including the Waterstone Canada's Most Admired Corporate

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