Mortgage Broker Relationship Executive

4 weeks ago

Montreal, Quebec, Canada Scotiabank Full time

Requisition ID: 204556

Join a purpose-driven team dedicated to achieving results within an inclusive and high-performing culture.

Job Purpose:

The Mortgage Broker Relationship Executive is tasked with expanding the residential mortgage sector from a specific portfolio of Mortgage Brokers. Operating within the SMA customer segmentation framework (Achiever, Builder, and Starter tiers), the executive will concentrate on building and enhancing a portfolio of Achiever brokers, fostering relationships, and delivering exceptional service, including underwriting functions. This role also supports the bank in achieving its objectives related to cross-selling additional bank products to mortgage clients.

Key Responsibilities:

  • Comprehend how the Bank's risk appetite and culture influence daily operations and decision-making.
  • Proactively pursue efficient operations in alignment with Scotiabank's Values, Code of Conduct, and Global Sales Principles, ensuring effective business controls to meet operational, compliance, and conduct risk obligations.
  • Promote a high-performance environment and contribute to an inclusive workplace.

1. Business Development: Within a designated area, drive the growth of profitable residential mortgages through strategic business development by:

  • Managing existing relationships within a designated portfolio of Achiever Mortgage Brokers to ensure the Bank is recognized for providing superior service in the industry.
  • Attracting new business relationships by identifying and engaging successful mortgage brokers who are not currently partnered with the bank at the Achiever level.
  • Conducting sales presentations and regular follow-ups with key brokers to strengthen existing relationships and establish new ones, furthering the bank's growth objectives.
  • Gaining comprehensive knowledge of mortgage products, policies, and procedures to effectively promote offerings to mortgage brokers and their clients.
  • Understanding the Bank's retail products to facilitate cross-selling opportunities through mortgage brokers.
  • Maintaining an in-depth awareness of the real estate market, competitive trends, and developments that may impact market dynamics.
  • Representing the Bank at industry-related meetings and events.

2. Relationship Management: Cultivate, manage, and oversee ongoing relationships with the established portfolio of brokers to stimulate growth in mortgage referrals, aiming for retention and expansion within the Achiever Tier by:

  • Maintaining regular contact with the established broker portfolio based on projected performance levels through various suitable communication methods.
  • Gathering and maintaining up-to-date information on each broker to optimize relationship building.
  • Customizing customer service and sales activities to meet the specific needs of the targeted market, particularly for Achiever Brokers.
  • Directing efforts based on performance to ensure the needs of key referral sources are understood and met.
  • Providing support tools to assist brokers in their client interactions.
  • Enhancing broker knowledge of our products and processes to improve the efficiency of each broker relationship.
  • Monitoring broker performance for efficiency improvements or necessary actions in case of underperformance.

3. Underwriting: Contribute to the effective processing and approval of mortgage applications by:

  • Clearly communicating Bank lending policies and procedures to brokers to ensure a thorough understanding of our lending requirements.
  • Collecting and verifying all necessary credit information to meet the Bank's credit and quality standards.
  • Reviewing and correcting data provided by Achiever Brokers, inputting it into the underwriting system, and determining the appropriate decision for each mortgage application.
  • Approving or declining mortgage transactions within designated limits and recommending further review for qualified applications.
  • Issuing and following up on commitments.
  • Coordinating with Mortgage Insurers for insured loans.
  • Reviewing appraisals for conventional mortgages as needed.
  • Ensuring all relevant information is received before submitting files to the Mortgage Funding Department.
  • Monitoring broker and borrower performance to ensure compliance with standards.
  • Identifying any broker activities that require further investigation.

4. Customer Onboarding/Cross-sell Facilitation: Support the development of customer acquisition and cross-sell opportunities by:

  • Ensuring Mortgage Brokers are familiar with the Bank's Cross-sell program and are motivated to promote multi-product customers.
  • Conducting meetings with Achiever Brokers to facilitate collaboration with Scotiabank branches.

5. Customer Service Excellence: Deliver a high standard of customer service and foster overall satisfaction by:

  • Ensuring prompt turnaround times and providing accurate, courteous, and knowledgeable service to mortgage brokers and their staff.
  • Maintaining confidentiality of Bank and customer information.
  • Complying with the Bank's Privacy Code and Guidelines for Business Conduct.

Qualifications:

  • Extensive experience in residential mortgage underwriting.
  • Knowledge of the mortgage broker industry and its operations.
  • Expertise in Bank mortgage products and related policies.
  • Strong interpersonal and communication skills to effectively engage with mortgage brokers.
  • Excellent organizational skills with attention to detail.
  • Thorough understanding of the real estate market and competitive landscape.
  • Knowledge of mortgage-related products and broker compensation.

Working Conditions:

The incumbent will work remotely and must establish a suitable workspace to conduct business without distractions.

Pursuant to a language needs assessment, the successful candidate must be able to communicate in English and French to serve a diverse clientele.

Scotiabank is a leading bank in the Americas, committed to helping customers achieve success through a wide range of financial services. We value the unique skills and experiences each individual brings and are dedicated to creating an inclusive environment for all.

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