Mortgage Retention Specialist

2 days ago


Toronto, Ontario, Canada EQ Bank | Equitable Bank Full time
About EQ Bank | Equitable Bank

We're a Challenger bank that's breaking the mold in Canadian banking. With over 50 years of experience and serving over 670,000 people across Canada, we're passionate about innovating and transforming the banking experience.

Estimated Salary: $65,000 - $85,000 per yearAbout the Role

The Mortgage Retention Specialist will play a crucial role in establishing and maintaining professional relationships with borrowers and brokers whose mortgages are approaching maturity. This involves reviewing individual files, assessing client needs, providing necessary information, and negotiating renewals to maximize retention while adhering to the bank's policies and procedures.

Key Responsibilities:
  • Retention (60%): Establish and maintain contact with borrowers in the assigned portfolio of loans 90 to 180 days prior to maturity, representing the bank through the renewal process with a strong emphasis on customer service to retain them as Equitable Bank borrowers.
  • Negotiate renewals within a predetermined pricing range, offering the borrower the best product while maximizing the bank's profit, adhering to underwriting criteria, timelines, and other policies and procedures.
  • Assess borrowers individually, making knowledgeable recommendations that address their needs while maintaining the Bank's interest.
Additional Responsibilities:
  • Prepare loan renewal documents for individual borrowers, processing said documents once signed and returned by borrowers.
  • Ensure all procedural and compliance requirements are met to minimize the bank's exposure to risk and that all documents meet legal requirements and are electronically archived correctly for future reference.
  • Document all actions to the file accurately and consistently on the customer tracking database.
  • Ensure the file meets Anti-Money Laundering and Anti-Terrorist Financing requirements as stipulated by procedures to minimize the bank's exposure to risk.
Requirements:
  • Completed post-secondary program in a related discipline and/or 2-3 years of experience in a related field.
  • Superior interpersonal and communication skills, both written and verbal.
  • Strong decision-making and problem-solving abilities.
  • Ability to perform under pressure.
  • Basic mathematical skills.
  • Exemplary analytical abilities.
  • Strong customer service and negotiation skills.
  • Computer literate (MS Outlook, MS Word, MS Excel).
  • Self-motivated to meet tight deadlines.
  • Results/goal achievement oriented.
  • Ability to balance multiple priorities simultaneously; organized multitasking.
  • Team-oriented.
  • Working knowledge of residential mortgages and processes, and thorough understanding of products offered by Equitable.
  • A general understanding of current mortgage market trends.
What We Offer:
  • 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 comprehensive Career Development program.
  • A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience.


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