Mortgage Portfolio Specialist

7 days ago

Calgary, Alberta, Canada Equitable Bank Full time
Company Overview

At Equitable Bank, we're revolutionizing the banking experience by challenging traditional norms. With over 50 years of history and a growing presence in Canada, our team is comprised of innovative thinkers who strive to create a better future for Canadians.

We serve over 670,000 customers across the country through Equitable Bank and its wholly-owned subsidiary, Concentra Bank, which supports credit unions serving six million members. Together, we have combined assets under management and administration worth $125 billion, driven by our mission to transform Canadian banking and enrich people's lives.

About the Role

The estimated annual salary for this position is around $60,000-$80,000 based on national averages.

This Mortgage Portfolio Specialist role is responsible for establishing and maintaining professional relationships with borrowers and/or brokers whose mortgages are approaching maturity. Key responsibilities include reviewing individual files, assessing clients' needs, providing necessary information, and negotiating renewals to achieve retention goals while adhering to Equitable Bank's policies and procedures.

Job DescriptionKey Responsibilities:
  1. Retention (60%)
  • Establish and maintain contact with borrowers in assigned portfolios 90-180 days prior to maturity, representing the bank through the renewal process with a focus on superior customer service to retain them as Equitable Bank borrowers.
  • Negotiate renewals within a predetermined pricing range, offering borrowers the best product while maximizing bank profits, adhering to underwriting criteria, timelines, and other policies.
  • Assess borrowers individually, making informed recommendations that address their needs, upholding the Bank's interests, and ensuring timely transitions for mortgages no longer meeting risk assessment standards.
  • Balance day-to-day maintenance of five months' worth of loans in large portfolios, ensuring 24-hour email response times and one-hour phone message turnarounds.
Administration (30%)
  • Prepare loan renewal documents, processing them once signed and returned by borrowers.
  • Ensure procedural and compliance requirements are met, minimizing bank exposure to risk, and that all documents meet legal requirements and are electronically archived correctly.
  • Document all actions accurately and consistently on the customer tracking database.
  • Ensure Anti-Money Laundering and Anti-Terrorist Financing requirements are met to minimize bank exposure to risk.
Reporting (5%)
  • Track interactions with borrowers and external parties systematically.
  • Keep monthly portfolio spreadsheets up to date for review by management upon request.
Required Skills and Qualifications

To be successful in this role, you'll need:

  • A 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.
  • The ability to perform under pressure.
  • Basic mathematical skills.
  • Exemplary analytical abilities.
  • Strong customer service and negotiation skills.
  • Proficiency in MS Outlook, MS Word, and MS Excel.
  • A self-motivated attitude to meet tight deadlines.
  • Results-oriented, goal-driven performance.
  • The ability to balance multiple priorities simultaneously, with organized multitasking.
  • A team-oriented approach.
  • A working knowledge of residential mortgages and processes, as well as a thorough understanding of Equitable Bank's products.
  • A general understanding of current mortgage market trends.
Benefits

As an employee at Equitable Bank, you can expect:

  • A competitive discretionary bonus.
  • A market-leading RRSP match program.
  • Medical, dental, vision, life, and disability benefits.
  • The Employee Share Purchase Plan.
  • Maternity/Parental top-up support.
  • A generous vacation policy and personal days.
  • Virtual events to connect with colleagues.
  • An annual professional development allowance and comprehensive Career Development program.

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