Account Manager, Special Loans and Restructuring

3 weeks ago

Toronto, 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 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 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 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 assisting with 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 delinquent and problem commercial mortgages (generally Small Commercial loans ranging up to $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 Management, manage legal action loans and enforce on remedies/conditions as warranted, while ensuring compliance with established default/workout strategies are implemented in a timely and efficient manner. Liaising with key stakeholders, both internal and external, will be a key responsibility, and forms part of determining and negotiating successful workout strategies.
- Perform, review, and correlate all aspects of underwriting (including collateral analysis and valuation) for defaulted loans and problem accounts, while ensuring that each submission addresses heightened risk elements, as identified, including monitoring and ensuring risk ratings on default loans are updated timely and reported to the appropriate internal stakeholders.
- Work closely with the Mortgage Services team and provide assistance to manage, monitor and/or resolve commercial delinquencies and certain default loans deemed to be non-performing, while providing timely updates to Management as warranted.
- There may be circumstances where the incumbent will assist in providing direct oversight on properties that are held by the Bank for recovery purposes.
- Ensure timely preparation of various reports that may be required by Senior Management, the Board of Directors, and external regulators (such as quarterly Problem Loan reports, monthly classified and watchlist reports, monthly arrears monitoring reports, provisioning reports, loan monitoring reporting etc.) including ad hoc reporting or analysis as required by Management.
- Actively work with to continuously strive for operational efficiency and implement improvement measures to ensure departmental requirements are met on a timely and effective m

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