Manager, CMHC, Portfolio Management

2 weeks ago

Toronto, Canada Disability Solutions 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 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 Work

The Manager, CMHC Portfolio Management will be a key member of the Commercial Credit team. Reporting to the Senior Manager, CMHC Portfolio Management, the incumbent will lead a team of credit professionals in the management of the CMHC Portfolio. The Manager, CMHC Portfolio Management 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.

The core parts of your role would be to:

    • Establish and oversee procedures to ensure all aspects of CMHC Portfolio Management including Renewals, Assumptions, and Ad Hoc requests are thoroughly assessed and within the bank's risk appetite, Commercial Credit Policy and the General Investment and Lending Policy.
    • Reviewing and approving all aspects of CMHC Portfolio Management submitted by commercial mortgage underwriters (including Renewals, Assumptions, and Ad Hoc requests within delegated limits and adjudicating the risk rating assessment for each file.
    • Provide guidance and assistance to external partners in formulating and implementing processes and procedures to gather required documents and information.
    • Develop, implement, and maintain productive working relationship with external partners through prompt, professional and effective communication.
    • Deliver excellent in customer service by effectively managing commitments to a variety of partners, senior management, and other internal departments.
    • Ensure appropriate strategies are in place to deal with problem loans in order to minimize the risk of loss for the Bank.
    • Proactively managing and monitoring upcoming maturities to make sure proper resource are available to handle the influx of renewals, extensions, and payouts.
    • Oversee ongoing, timely completion of reporting to support senior management and regulatory requirements (including maturities, renewal, loan extensions, Ad-Hoc, and the Quarterly Servicing Audit of CMHC loans files.)
    • Assisting with the recruitment and hiring of new staff
    • Providing ongoing training and guidance to staff members. This will include regular staff meetings, and one-on-one discussion with individual staff members.
    • Motivate and support the professional growth of the team, including creation and execution of development plans, where appropriate.


Let's Talk About You

    • Minimum 7 years of experience in underwriting commercial real estate transactions including CMHC-insured multi-unit commercial mortgages
    • Post-secondary education (diploma/degree), preferably in business or finance
    • Bilingualism is an asset
    • Strong leadership and coaching skills with the ability to set strong examples for colleagues
    • 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 lending, financial statement analysis and factors affecting the Canadian commercial lending environment.
    • Detail-oriented individual who possesses a high level of integrity
    • Demonstrated service excellence with their field.
    • Proven ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment
    • Proven ability to inspire a team to work toward a set of goals and objectives
    • Sound technical knowledge of commercial real estate underwriting, financial statement analysis and factors affecting the commercial mortgage market
    • Effective analytical and problem-solving skills
    • Strong organizational and time management skills
    • Ability to handle multiple competing priorities and make decisions under pressure
    • Proficient in MS Office


Job Complexities / Thinking Challenges

    • The incumbent will be responsible for making sound credit approvals and recommendations as efficiently as possible without compromising credit risk. The incumbent should be prepared to manage high volumes of files within the required timelines while ensuring that all corporate policies and procedures have been followed. The incumbent will also experience the common day-to-day challenges that come with leading and supervising staff.
    • The position requires the incumbent to be a self-starter and make sound underwriting decisions as efficiently as possible. 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 properly review files and rationalize the recommendations or decisions made. In addition to exercising professional judgement, strong problem-solving skills with respect to AML/ATF risk and related documentation are required as the incumbent will be responsible for preparing and recommending risk mitigation actions to the Business Unit Compliance Officer and/or the Compliance Department.


#LI-Hybrid

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 and personal days

Virtual events to connect with your fellow colleagues

Annual professional development allowance and a comprehensive Career Development program

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. Our organization is stronger and our employees thrive when we honour and celebrate everyone's diverse experiences and perspectives. In tandem with that commitment, we support and encourage our staff to grow not just in their career path, but personally as well.

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. While we appreciate your interest in applying, an Equitable recruiter will only contact leading candidates whose skills and qualifications closely match the requirements of the position.

We can't wait to get to know you

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